Global Market for Interactive Voice Response Systems to

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

Macquarie Group Ltd. Invests $327,000 in Royal Bank of Canada (NYSE:RY)

September 22, 2023

OPINION: Why Canada should embrace foreign investment in the housing market

September 22, 2023

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