Interactive Voice Response System Market by Technology, Deployment, and Geography - Forecast and Analysis 2021-2025

Published: Dec 2020

Pages: 120

SKU: IRTNTR46382

Snapshot

The interactive voice response system market size has the potential to grow by USD 2.61 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 9.78%.

This report provides a detailed analysis of the market by technology (speech technology and dual-tone technology), deployment (cloud-based and on-premises), geography (North America, Europe, APAC, South America, and MEA), and key vendors.

Market Overview

Browse TOC and LoE with selected illustrations and example pages of Interactive Voice Response System Market

Request a FREE sample now!

Market Competitive Analysis

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

The interactive voice response system market is fragmented and the vendors are deploying growth strategies such as aiming for technological advances to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.

The market players also significantly leverage external market drivers such as the rising number of calls to achieve growth opportunities. However, factors such as data privacy and security risks will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the interactive voice response system market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies,

This interactive voice response system market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.

Interactive Voice Response System Market: Key Drivers and Trends

One of the major factors driving the global interactive voice response system market growth is the rising number of calls by customers.
Organizations have been managing the increased number of calls and provide increased customer interaction with the help of IVR solutions.
The use of dual-tone and speech technology reduces the hold time and drop off time for each call. This has increased the number of outbound calls, which has resulted in the automation of the routine tasks that helps in improving the efficiency of the agent.

The increasing need to improve customer relationship management (CRM) will drive the growth prospects for the global IVR system market
IVR systems are deployed in various companies as enterprise IVR solutions such as enterprise resource planning (ERP) and CRM for enterprise websites, which enable them to have continuous communication with their customers.
A few of the major factors responsible for the increasing rate of implementation of IVR systems in enterprises is to provide product or brand information to customers, increase brand awareness, and to encourage customers for signing up for the company's account.

Grab your Free Sample now to unlock further information on other key market drivers

Interactive Voice Response System Market: Segmentation by Geography

For more insights on the market share of various regions Request for a FREE sample now!

40% of the market's growth will originate from North America during the forecast period. The US is one of the key markets for interactive voice response system in North America. Market growth in this region will be slower than the growth of the market in APAC, MEA, and South America.

The growing used of outbound IVR and increasing market for IVR in SMEs is one of the prime factors that will facilitate the interactive voice response system market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

Interactive Voice Response System Market: Segmentation by Technology

Request for a FREE sample and Get more information on the market contribution of various segments

Speech technology-based IVR applications do not exploit the flexibility offered by natural language processing systems such as written or spoken language. Speech technology reduces the recognition time for vocabulary and enhances the security of data by testing vocal characteristics. Hence, the speech technology market segment will exhibit fast growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the interactive voice response system market size. Fetch actionable market insights on the post-COVID-19 impact on each segment.

Request for a FREE sample

Interactive Voice Response System Market: Key Highlights of the Report for 2021-2025

CAGR of the market during the forecast period 2021-2025
Detailed information on factors that will drive interactive voice response system market growth during the next five years
Precise estimation of the interactive voice response system market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the interactive voice response system industry across North America, Europe, APAC, South America, and MEA
A thorough analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of interactive voice response system market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

Table of Contents

Executive Summary

Market Landscape

Market ecosystem
Market characteristics
Value chain analysis

Market Sizing

Market definition
Market segment analysis
Market size 2020
Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

Market Segmentation by Technology

Market segments
Comparison by Technology
Speech technology - Market size and forecast 2020-2025
Dual-tone technology - Market size and forecast 2020-2025
Market opportunity by Technology

Market Segmentation by Deployment

Market segments
Comparison by Deployment
Cloud-based - Market size and forecast 2020-2025
On-premises - Market size and forecast 2020-2025
Market opportunity by Deployment

Customer landscape

Overview

Geographic Landscape

Geographic segmentation
Geographic comparison
North America - Market size and forecast 2020-2025
Europe - Market size and forecast 2020-2025
APAC - Market size and forecast 2020-2025
South America - Market size and forecast 2020-2025
MEA - Market size and forecast 2020-2025
Key leading countries
Market opportunity by geography
Market drivers
Market challenges
Market trends

Vendor Landscape

Vendor landscape
Landscape disruption
Competitive scenario

Vendor Analysis

Appendix

Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

Purchase Report

PURCHASE FULL REPORT OF

interactive voice response system market

Buy Report - Single User License 2500 USD

QUICK BUY

Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

Why should you prefer Technavio's market insights report?

Off-the-shelf research reports
Reports can be tailored to meet the customer's needs
Trusted by more than 100 fortune 500 organizations
Information about the market's key drivers, trends, and challenges
Parent market analysis
Every week, 50,000 people visit our subscription platform
Detailed vendors report with competitive landscape
Covid-19 impact and recovery analysis
Data on revenue-generating market segments
Details on the market shares of various regions
Five-force market analysis