Dublin, June 25, 2021 (GLOBE NEWSWIRE) -- The "Interactive Voice Response (IVR) Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Interactive Voice Response (IVR) Systems Market to Reach $6.1 Billion by 2027
Amid the COVID-19 crisis, the global market for Interactive Voice Response (IVR) Systems estimated at US$4.1 Billion in the year 2020, is projected to reach a revised size of US$6.1 Billion by 2027, growing at a CAGR of 5.6% over the period 2020-2027.
Touchtone-based, one of the segments analyzed in the report, is projected to record 5.5% CAGR and reach US$3.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Speech-based segment is readjusted to a revised 5.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.1 Billion, While China is Forecast to Grow at 8.7% CAGR
The Interactive Voice Response (IVR) Systems market in the U.S. is estimated at US$1.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2027 trailing a CAGR of 8.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 5.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of COVID-19 and Looming Global Recession
- Interactive Voice Response (IVR) Systems: An Introduction
- Applications of IVR Systems
- Benefits & Drawbacks of IVR Systems
- Global Market Prospects & Outlook
- Speech-Based IVR: The Major Segment
- BFSI Sector Emerges as the Key Application Market
- Competition
- Select Popular IVR Systems
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Growth of Call Centers Industry Presents Opportunities for IVR Systems Market
- Exhibit 1: Global Call Centers Market by Deployment Model (in %) for 2020E
- Exhibit 2: Global Call Centers Market by Vertical (in %) for 2020E
- Rise in Customer Calls in Call Centers & Need to Efficiency Address the Calls Gives Impetus to IVR Systems
- Expanding Applications Present Growth Opportunities for IVR Systems Market
- NoTable Trends in the IVR Market: A Review
- Rising Integration of Advanced Technologies Boosts Growth in IVR Systems Market
- Artificial Intelligence, Machine Learning & NLP Hold Tremendous Potential for IVR Systems
- Rapid Rise in Cloud-based Services Fuel Need for IVR Systems
- Exhibit 3: Global Cloud Services Market Size in $ Billion for the Years 2019, 2022 & 2025
- Exhibit 4: Global Public Cloud Services: Revenues (in US$ Million) by Service Type for 2019 and 2022
- Growing Importance of IVRs in Increasing Efficiency and Scalability of Organizations
- Demand for IVR-based Outbound Services Continues to Grow
- IVR Holds Tremendous Role in Improving Customer Service
- BFSI Industry Looks to IVR Systems to Improve Services
- Cloud Telephony Transforms BFSI Sector
- Growing Importance of IVR Systems in Pharmaceutical & Healthcare Industry
- With Telehealth Growing Amidst the COVID-19 Pandemic, IVR Systems Emerge as Critical Technology to Enable Services
- SMEs Increasingly Rely on Cloud Telephony Amidst COVID-19 Pandemic
- Innovative Use Cases of IVR Systems
- Cloud Hosted IVR Systems Gain Momentum
- Innovations & Advancements
- Challenges Facing IVR Systems Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- UNITED STATES
- CANADA
- JAPAN
- CHINA
- EUROPE
- FRANCE
- GERMANY
- ITALY
- UNITED KINGDOM
- SPAIN
- RUSSIA
- REST OF EUROPE
- ASIA-PACIFIC
- AUSTRALIA
- INDIA
- Impact of COVID-19 on IVR Systems Market
- Robust Growth of Domestic Call Center Market: Opportunity for IVR Systems
- SOUTH KOREA
- REST OF ASIA-PACIFIC
- LATIN AMERICA
- ARGENTINA
- BRAZIL
- MEXICO
- REST OF LATIN AMERICA
- MIDDLE EAST
- IRAN
- ISRAEL
- SAUDI ARABIA
- UNITED ARAB EMIRATES
- REST OF MIDDLE EAST
- AFRICA
IV. COMPETITION
Companies Mentioned (Total Companie Profiled: 81)
- [24]7.ai, Inc.
- Aspect Software, Inc.
- AT&T, Inc.
- Avaya, Inc.
- Cisco Systems, Inc.
- Connect First, Inc.
- Convergys Corp.
- Database Systems Corp.
- Dialogic Corporation
- DialogTech
- E-Complish, Inc.
- Enghouse Systems Limited
- Mitel Networks Corporation
- Nuance Communications, Inc.
- True Image Interactive, Inc.
- Verizon Communications, Inc.
- Voicent Communications, Inc.
- West Corporation
For more information about this report visit https://www.researchandmarkets.com/r/k5pqmp