Global Market for Interactive Voice Response Systems to Reach $6.1 Billion by 2027

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 AG , Inc.
• AT&T, Inc.
• Avaya, Inc.
• Cisco Systems , Inc.
• Connect Group 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 Communications, Inc.
• Voicent Communications, Inc.
• West Corporation

For more information about this report visit https://www.researchandmarkets.com/r/k5pqmp

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