Automatic IVR Response Systems Market, Size, Share, Outlook and Growth Opportunities 2020-2026
- ID:OGA1812MVS538
- Published: December-2021
- Pages:110
- OG Analysis
Global Automatic IVR Response Systems Market, Size, Share, Outlook and Growth Opportunities to 2026: By Type (Touch-tone, and Speech), By Deployment (Cloud, and On-Premise), By Application (BFSI, Healthcare, Government and Public, IT and Telecom, Travel & Tourism and Others) and By Region
Key Highlights
- The Global Interactive Voice Response Systems market is estimated to grow at a CAGR of 8.54% in the forecast period 2019-2026 to reach a market value of $7,879.4 million by the end of 2026.
- Cloud Deployed Interactive Voice Response Systems segment is forecast to report 10.09% CAGR, with highest demand originating from North America.
- Over the forecast period, the demand for Interactive Voice Response Systems market is estimated to increase from $ 4,439.4 million in 2019 to $ 7,879.4 million in 2026 at a CAGR of 8.54%.
Interactive voice response market growth is fuelled by increasing drive towards adaption of advanced technologies higher efficiency. In addition, recent advancements in Natural language processing (NLP) is changing the future of IVR systems with a rapid shift towards speech based IVR systems from touch-tone based systems.
On the other hand, strong growth in security in cloud computing industry is encouraging users to opt for cloud based hosting solutions.
An increasing trend towards flexible, cloud based IVR systems is being observed across industries. In particular, in banking and financial sectors, telecom and travel applications, the volume of calls can drastically vary from season to season and based on new happenings in the industry. Automatic call distribution features coupled with higher spam control rates are driving the growth of cloud based storage deployment.
Touch-tone based IVRs dominate the application segment, primarily due to its early and widespread adoption during the initial years of IVR development. However, recent advancements in natural language processing are enabling banks and financial institutions to utilize speech based IVR systems to ensure safe authentication of clients.
North America is the dominant market for the IVR systems with US leading the region. Adoption of automation technology coupled with increasing efficiency is driving revenues for the IVR market.
Healthcare sector shows huge potential for the adoption of AI-based IVR systems over the forecast period. In addition, Government is also taking initiatives to develop the healthcare sector responsiveness. Other end-user industries looking for dramatic reduction in the operational costs will also boost to the revenue growth.
Global Automatic IVR Response Systems Market Insights
The 2020 series of global market size, share, outlook, trends and growth prospects is a comprehensive analysis on global Automatic IVR Response Systems market conditions. Major trends shaping the near and long term future of the industry, opportunities, drivers and restraints of Automatic IVR Response Systems market, detailed porter’s five forces analysis and competitive insights are included in the research report.
Global Automatic IVR Response Systems Market Share by Type
The report presents the detailed annual outlook of each type of the Automatic IVR Response Systems market to 2026. Touch-tone and Speech are different types included in the Automatic IVR Response Systems market report. Of these types, Touch-tone occupies major share in the global industry.
Global Automatic IVR Response Systems Market forecasts by Deployment
The report provides detailed Automatic IVR Response Systems market forecasts by various deployment types including Cloud, and On-Premise. Among these Cloud occupies major share in the global industry.
Global Automatic IVR Response Systems Market Size by Application
Amidst increasing emphasis on new applications and stagnant growth of conventional large applications, the report presents in-depth insights into each of the leading Automatic IVR Response Systems end user verticals along with annual forecasts to 2026. Various applications that are studied in the report include BFSI, Healthcare, Government and Public, IT and Telecom, Travel & Tourism and Others. BFSI is the fastest growing segment among all end user industries.
Global Automatic IVR Response Systems Market Revenue by Region
The current Automatic IVR Response Systems market size in terms of revenue across 5 regions including North America, Europe, Asia Pacific, South & Central America and Middle East & Africa are studied in the report. In addition, historic data from 2017 and annual forecasts to 2026 are also included in the research report. Globally, North America is the major revenue contributor to the global market.
Global Automatic IVR Response Systems Market Analysis by Company
Top 10 leading companies in global Automatic IVR Response Systems market are analyzed in the report along with their business overview, operations, geographical locations, financial analysis, SWOT profile and Automatic IVR Response Systems products & services.
Global Automatic IVR Response Systems Market News and Recent Developments
Latest news and industry developments in terms of Automatic IVR Response Systems product expansions, acquisitions, organic & inorganic growth strategies, joint ventures and collaborations, product launches, market expansions etc are included in the report.
Scope
Long term perspective on the Automatic IVR Response Systems industry: 2019 (base year), 2020- 2026 (forecast period)
Automatic IVR Response Systems Market- Forecasts by Segments- Type, Deployment and Application by geography.
- The research work categorizes the global Automatic IVR Response Systems market based on type into 2 categories including Touch-tone, and Speech.
- It provides the market outlook by 2 deployment types including Cloud, and On-Premise.
- The report categorizes the market based on application into 6 categories such as BFSI, Healthcare, Government and Public, IT and Telecom, Travel & Tourism and Others.
- Automatic IVR Response Systems market across countries in 5 regions including North America, Europe, Asia-Pacific, South & Central America and Middle East & Africa are covered.
Automatic IVR Response Systems Market- Strategic Analysis Review
- Key strategies opted by leading players
- Short to Long Term Industry Trends
- Porter’s Five Forces Analysis
- Supply side and Demand Side Drivers and Challenges
Automatic IVR Response Systems Market- Growth Opportunities
- Potential New Business Opportunities
- Key Areas of Focus in forecast period
Automatic IVR Response Systems Market- Competitive Scenario
- 4 companies are analysed in the report including Convergys Corporation, Avaya Inc., Genesys Telecommunications Laboratories, Inc., International Business Machines Corporation.
- Company Peer-to-Peer Comparison
- Company Profile and SWOT Analysis
- Financial Analysis
Table of Contents
1. Table of Contents
1.1 List of Tables
1.2 List of Figures
2. Introduction to Global Automatic IVR Response Systems Market
2.1 Global Automatic IVR Response Systems Market Snapshot, 2019
2.2 Automatic IVR Response Systems Industry Overview
2.3 Research Perspective
3. Global Automatic IVR Response Systems Market- Strategic Analysis
3.1 Short Term and Long Term Industry Trends Affecting Global Automatic IVR Response Systems Market
3.2 Leading Automatic IVR Response Systems Types Targeted by Global Manufacturers
3.3 Key Consumption Patterns of Automatic IVR Response Systems
3.4 Potential Markets Vital for business Expansion
3.5 Five Forces Analysis
3.6 Drivers and Restraints
4. Global Automatic IVR Response Systems Market Outlook and Growth Opportunities by Type
4.1 Touch-tone Market Outlook, 2020- 2026
4.2 Speech Market Outlook, 2020- 2026
5. Global Automatic IVR Response Systems Market Outlook and Growth Opportunities by Deployment
5.1 Cloud Market Outlook, 2020- 2026
5.2 On-Premise Market Outlook, 2020- 2026
6. Global Automatic IVR Response Systems Market Outlook and Growth Opportunities by Application
6.1 Automatic IVR Response Systems Demand in BFSI, Market Outlook, 2020- 2026
6.2 Automatic IVR Response Systems Demand in Healthcare, Market Outlook, 2020- 2026
6.3 Automatic IVR Response Systems Demand in Government and Public, Market Outlook, 2020- 2026
6.4 Automatic IVR Response Systems Demand in IT and Telecom, Market Outlook, 2020- 2026
6.5 Automatic IVR Response Systems Demand in Travel & Tourism, Market Outlook, 2020- 2026
6.6 Automatic IVR Response Systems Demand in Other applications, Market Outlook, 2020- 2026
7. Asia Pacific Automatic IVR Response Systems Market Outlook and Growth Opportunities
7.1 Key Findings, 2019
7.2 Asia Pacific Automatic IVR Response Systems Market Outlook by Type, 2020- 2026
7.3 Asia Pacific Automatic IVR Response Systems Market Outlook by Deployment, 2020- 2026
7.4 Asia Pacific Automatic IVR Response Systems Market Outlook by Application, 2020- 2026
7.5 Asia Pacific Automatic IVR Response Systems Market Outlook by Country, 2020- 2026
8. Europe Automatic IVR Response Systems Market Outlook and Growth Opportunities
8.1 Key Findings, 2019
8.2 Europe Automatic IVR Response Systems Market Outlook by Type, 2020- 2026
8.3 Europe Automatic IVR Response Systems Market Outlook by Deployment, 2020- 2026
8.4 Europe Automatic IVR Response Systems Market Outlook by Application, 2020- 2026
8.5 Europe Automatic IVR Response Systems Market Outlook by Country, 2020- 2026
9. North America Automatic IVR Response Systems Market Outlook and Growth Opportunities
9.1 Key Findings, 2019
9.2 North America Automatic IVR Response Systems Market Outlook by Type, 2020- 2026
9.3 North America Automatic IVR Response Systems Market Outlook by Deployment, 2020- 2026
9.4 North America Automatic IVR Response Systems Market Outlook by Application, 2020- 2026
9.5 North America Automatic IVR Response Systems Market Outlook by Country, 2020- 2026
10. South & Central America Automatic IVR Response Systems Market Outlook and Growth Opportunities
10.1 Key Findings, 2019
10.2 South & Central America Automatic IVR Response Systems Market Outlook by Type, 2020- 2026
10.3 South & Central America Automatic IVR Response Systems Market Outlook by Deployment, 2020- 2026
10.4 South & Central America Automatic IVR Response Systems Market Outlook by Application, 2020- 2026
10.5 South & Central America Automatic IVR Response Systems Market Outlook by Country, 2020- 2026
11. Middle East & Africa Automatic IVR Response Systems Market Outlook and Growth Opportunities
11.1 Key Findings, 2019
11.2 Middle East & Africa Automatic IVR Response Systems Market Outlook by Type, 2020- 2026
11.3 Middle East & Africa Automatic IVR Response Systems Market Outlook by Deployment, 2020- 2026
11.4 Middle East & Africa Automatic IVR Response Systems Market Outlook by Application, 2020- 2026
11.5 Middle East & Africa Automatic IVR Response Systems Market Outlook by Country, 2020- 2026
12. Competitive Landscape
12.1 Leading Players (Company Profile, SWOT Analysis, Automatic IVR Response Systems Products, Financial Analysis)
12.1.1 Convergys Corporation.
12.1.2 Avaya Inc.
12.1.3 Genesys Telecommunications Laboratories, Inc.
12.1.4 International Business Machines Corporation.
12.2 Company Benchmarking
12.3 Financial Analysis
13. Recent News and Deals Landscape
13.1 Mergers and Acquisitions
13.2 New Product Launches
13.3 Asset Transactions
13.4 Financial Announcements
14. Appendix
14.1 OG Analysis Expertise
14.2 Sources and Research Methodology
14.3 Contact Information
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