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[ 英語タイトル ] Interactive Voice Response Market by Technology (Touch-Tone and Speech), Deployment (Cloud and on Premise), Vertical (BFSI, Pharma and Healthcare, ITES), Organization Size, Solution, Service, And Geography - Global Forecast to 2023


Product Code : MNMSE00108726
Survey : MarketsandMarkets
Publish On : February, 2021
Category : Semiconductor and Electronics
Study Area : Global
Report format : PDF
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[Report Description]

“Increasing scalability and efficiency of organizations is contributing to the growth of the interactive voice response market”
The interactive voice response (IVR) market was valued at USD 3.73 billion in 2017 and is expected to reach USD 5.54 billion by 2023, at a CAGR of 6.83% during the forecast period. IVRs are implemented in multiple enterprises due to its ability to help improve the productivity and effectiveness of the organization. A scalable architecture is achievable using the latest IVRs. The ability of IVRs to route callers to the appropriate department is one of the major reasons for their increased adoption in small and medium enterprises (SMEs) and large enterprises. The IVRs help in routing calls to the concerned agent to save the caller’s time. This results in higher customer satisfaction along with effective customer services. A higher level of customer satisfaction further increases the probability of selling to a new as well as an existing prospect. On the other hand, the complexity of the IVRs due to the presence of multiple irrelevant options is one of the restraining factors in the market. The additional information confuses the customer in selecting a particular option from a list of options in the menu. Hence, sometimes the customers prefer to talk to the customer service person directly instead of talking to a machine. Limiting the menu options helps the system to remember the customer’s choices as well as minimizes the time required for the customer to choose from a list of multiple options.
“Adoption of cloud infrastructure boosts the demand for interactive voice response systems”
There is an increasing adoption of cloud infrastructure because of the ability to provide their self-service applications at a minimal cost. This infrastructure helps the organizations to reduce the operating expense (OPEX) allowing them to achieve a considerably higher level of efficiency. The hosted cloud deployment mode offers ease of data accessibility from anywhere at any time. Moreover, the hosted cloud offers ease of integration with the existing server, which operates on its own physical hardware in minimal time.
“North America considered as key region for the interactive voice response market”
North America held the largest share of the interactive voice response market in 2016. The increasing demand for cloud-based IVRs in SMEs is likely to drive the growth of the interactive voice response market in North America. Advancements in the interactive voice response technology for flawless communication and security, as well as the ease of accomplishing a task without the help of an agent are the crucial factors driving the growth of the interactive voice response market. Moreover, the tremendous growth of IP contact centers in the US has propelled the growth of the interactive voice response market. The overall interactive voice response market in this region is highly fragmented with the presence of some large and several medium-sized companies that offer solutions for various verticals such as BFSI, pharma and healthcare, government and public sector, and education. 8X8, Inc. (US), Nuance Communications, Inc. (US), Convergys Corporation (US), Avaya Inc. (US), Cisco Systems, Inc. (US), AT&T Inc. (US), West Corporation (US), Genesys Telecommunication Laboratories, Inc. (US), Verizon Communications Inc. (US), 24/7 Customer, Inc. (US), and Five9, Inc. (US) are some of the major companies that offer IVR solutions in North America.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key experts. Following is the breakup of the profile of primary participants:
• By Company Type: Tier 1 – 35%, Tier 2 – 40%, and Tier 3 – 25%
• By Designation: C-Level Executives – 50%, Directors – 35%, and Others – 15%
• By Region: North America – 35%, Europe – 22%, APAC – 30%, and RoW – 13%
The prominent players profiled in this report are 8X8, Inc. (US), Nuance Communications, Inc. (US), Convergys Corporation (US), Avaya Inc. (US), Cisco Systems, Inc. (US), AT&T Inc. (US), West Corporation (US), Genesys Telecommunication Laboratories, Inc. (US), Verizon Communications Inc. (US), IVR Lab (US), Aspect Software Parent Inc. (US), 24/7 Customer, Inc. (US), inContact Inc. (US), NewVoiceMedia (UK), and Five9, Inc. (US).
Research Coverage:
The report estimates the size and future growth potential of the interactive voice response market for various segments such as deployment mode, technology, organization size, services, vertical, and geography. In addition, the report comprises industry trends, market dynamics, and competitive analysis of the key players in the market, along with their company profiles, competitive leadership mapping, and recent developments.
Key Benefits of Buying the Report:
The report would help market leaders/new entrants by providing them with the closest approximations of the revenues generated from the IVR segments and subsegments. This report would help stakeholders better understand the competitor landscape and gain insights to better position their businesses and make suitable go-to-market strategies. This report also helps the stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.

TABLE OF CONTENTS

1 INTRODUCTION 15
1.1 STUDY OBJECTIVES 15
1.2 MARKET DEFINITION 15
1.3 SCOPE 16
1.3.1 GEOGRAPHIC SCOPE 16
1.3.2 YEARS CONSIDERED FOR THE STUDY 17
1.4 CURRENCY 17
1.5 LIMITATIONS 17
1.6 STAKEHOLDERS 17
2 RESEARCH METHODOLOGY 18
2.1 RESEARCH DATA 18
2.1.1 SECONDARY DATA 19
2.1.1.1 Key data from secondary sources 19
2.1.2 PRIMARY DATA 20
2.1.2.1 Key data from primary sources 20
2.1.2.2 Key industry insights 21
2.1.2.3 Breakdown of primaries 21
2.2 MARKET SIZE ESTIMATION 21
2.2.1 BOTTOM-UP APPROACH 22
2.2.2 TOP-DOWN APPROACH 23
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 24
2.4 RESEARCH ASSUMPTIONS 25
3 EXECUTIVE SUMMARY 26
4 PREMIUM INSIGHTS 32
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN INTERACTIVE VOICE RESPONSE MARKET 32
4.2 INTERACTIVE VOICE RESPONSE MARKET, BY ORGANIZATION SIZE 32
4.3 INTERACTIVE VOICE RESPONSE MARKET, BY SERVICE AND REGION 33
4.4 INTERACTIVE VOICE RESPONSE MARKET, BY DEPLOYMENT MODE 33
4.5 INTERACTIVE VOICE RESPONSE MARKET, BY GEOGRAPHY 34
5 MARKET OVERVIEW 35
5.1 INTRODUCTION 36
5.2 MARKET DYNAMICS 36
5.2.1 DRIVERS 37
5.2.1.1 Increasing integration of advanced technologies 37
5.2.1.2 Rise in cloud-based services equipped with high industry standards increases IVR acceptability 37
5.2.1.3 Adoption of IVRs to increase scalability and efficiency of organizations 38
5.2.2 RESTRAINTS 38
5.2.2.1 Irrelevant options and additional information within a menu hampers the usability of IVRs 38
5.2.3 OPPORTUNITIES 39
5.2.3.1 Growing IVR application areas 39
5.2.3.2 Increasing demand for IVR-based outbound services 39
5.2.4 CHALLENGES 40
5.2.4.1 Increasing security concerns in data encryption 40
6 INDUSTRY TRENDS 41
6.1 INTRODUCTION 41
6.2 VALUE CHAIN ANALYSIS 41
6.3 INTERACTIVE VOICE RESPONSE STANDARDS AND REGULATIONS 42
6.3.1 CODES AND STANDARDS RELATED TO INTERACTIVE VOICE RESPONSE 42
7 INTERACTIVE VOICE RESPONSE MARKET, BY TECHNOLOGY 44
7.1 INTRODUCTION 45
7.2 SPEECH BASED 46
7.3 TOUCH-TONE BASED 47
8 INTERACTIVE VOICE RESPONSE MARKET, BY DEPLOYMENT MODE 49
8.1 INTRODUCTION 50
8.2 CLOUD 51
8.2.1 HOSTED 52
8.3 ON PREMISE 52
9 INTERACTIVE VOICE RESPONSE MARKET, BY ORGANIZATION SIZE 53
9.1 INTRODUCTION 54
9.2 SMALL AND MEDIUM ENTERPRISES (SMES) 55
9.3 LARGE ENTERPRISES 55
10 INTERACTIVE VOICE RESPONSE MARKET, BY SERVICE 57
10.1 INTRODUCTION 58
10.2 INSTALLATION 59
10.3 TRAINING AND EDUCATION 59
10.4 MAINTENANCE AND SUPPORT 59


11 INTERACTIVE VOICE RESPONSE MARKET, BY VERTICAL 60
11.1 INTRODUCTION 61
11.2 BFSI 62
11.3 TRAVEL AND HOSPITALITY 64
11.4 PHARMA AND HEALTHCARE 66
11.5 TELECOMMUNICATIONS 68
11.6 GOVERNMENT AND PUBLIC SECTOR 69
11.7 TRANSPORTATION AND LOGISTICS 71
11.8 INFORMATION TECHNOLOGY-ENABLED SERVICES 72
11.9 MEDIA, RETAIL, AND E-COMMERCE 74
11.10 EDUCATION 75
11.11 OTHERS 77
12 INTERACTIVE VOICE RESPONSE MARKET, BY SOLUTION 79
12.1 INTRODUCTION 79
12.2 CALL ROUTING 79
12.3 OUTBOUND 80
12.4 SELF-SERVICE 80
13 GEOGRAPHIC ANALYSIS 81
13.1 INTRODUCTION 82
13.2 NORTH AMERICA 83
13.2.1 US 87
13.2.2 CANADA 87
13.2.3 MEXICO 88
13.3 EUROPE 89
13.3.1 UK 93
13.3.2 GERMANY 93
13.3.3 ITALY 94
13.3.4 FRANCE 95
13.3.5 REST OF EUROPE 95
13.4 ASIA PACIFIC 96
13.4.1 JAPAN 100
13.4.2 CHINA 100
13.4.3 INDIA 101
13.4.4 PHILIPPINES 101
13.4.5 SOUTH KOREA 102
13.4.6 REST OF APAC 102
13.5 REST OF THE WORLD 103
13.5.1 SOUTH AMERICA 104
13.5.2 MIDDLE EAST AND AFRICA 105
14 COMPETITIVE LANDSCAPE 106
14.1 OVERVIEW 106
14.2 MARKET RANKING ANALYSIS: INTERACTIVE VOICE RESPONSE 106
14.3 COMPETITIVE LEADERSHIP MAPPING 109
14.3.1 VISIONARY LEADERS 109
14.3.2 DYNAMIC DIFFERENTIATORS 109
14.3.3 INNOVATORS 109
14.3.4 EMERGING COMPANIES 109
14.4 BUSINESS STRATEGY EXCELLENCE 111
14.5 STRENGTH OF PRODUCT PORTFOLIO 112
25 Companies analyzed across the ecosystem are — 8X8, Inc. (US), Nuance Communications, Inc. (US), Convergys Corporation (US), Avaya Inc. (US), Cisco Systems, Inc. (US), AT&T Inc. (US), West Corporation (US), Genesys Telecommunication Laboratories, Inc. (US), Verizon Communications Inc. (US), IVR Lab (US), Aspect Software Parent Inc. (US), 24/7 Customer, Inc. (US), inContact Inc. (US), NewVoiceMedia (UK), Five9, Inc. (US), Enghouse Systems (US), BCE Inc. (Canada), Verint Systems Inc (US), NEC Corporation (Japan), XO Communications, LLC (US), CenturyLink (US), DialogTech (US), DiRAD Technologies, Inc. (US), Solutions Infini (India), and Arise Virtual Solutions (US).
14.6 COMPETITIVE SITUATIONS AND TRENDS 113
14.6.1 PRODUCT LAUNCHES AND DEVELOPMENTS 115
14.6.2 PARTNERSHIPS AND AGREEMENTS 116
14.6.3 MERGERS AND ACQUISITIONS 117
14.6.4 OTHERS 118
15 COMPANY PROFILES 119
15.1 INTRODUCTION 119
(Business Overview, Products offered & Services strategies, Key Insights, Recent Developments)*
15.2 INCONTACT INC. 120
15.3 NUANCE COMMUNICATIONS, INC. 123
15.4 GENESYS TELECOMMUNICATION LABORATORIES, INC. 126
15.5 8X8, INC. 130
15.6 AT&T INC. 133
15.7 AVAYA INC. 135
15.8 ASPECT SOFTWARE PARENT, INC. 138
15.9 24/7 CUSTOMER, INC. 142
15.10 VERIZON COMMUNICATIONS INC. 145
15.11 FIVE9, INC. 148
15.12 CISCO SYSTEMS, INC. 152
15.13 CONVERGYS CORPORATION 156
15.14 WEST CORPORATION 159
15.15 IVR LAB 162
15.16 NEWVOICEMEDIA 164

15.17 KEY INNOVATORS 167
15.17.1 LIVEOPS, INC. 167
15.17.2 OZONETEL COMMUNICATIONS PVT. LTD. 167
15.17.3 EVOLVE IP, LLC 168
*Details on Business Overview, Products offered & Services strategies, Key Insights, Recent Developments, MnM View might not be captured in case of unlisted companies.
16 APPENDIX 169
16.1 INSIGHTS OF INDUSTRY EXPERTS 169
16.2 QUESTIONNAIRE FOR INTERACTIVE VOICE RESPONSE MARKET 170
16.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 174
16.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 176
16.5 AVAILABLE CUSTOMIZATIONS 177
16.6 RELATED REPORTS 177
16.7 AUTHOR DETAILS 178

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