Global Interactive Voice Response System Market Growth (Status and Outlook) 2023-2029

Global Interactive Voice Response System Market Growth (Status and Outlook) 2023-2029

Interactive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice and DTMF tones input via a keypad. In telecommunications, IVR allows customers to interact with a company’s host system via a telephone keypad or by speech recognition, after which Services can be inquired about through the IVR dialogue.

LPI (LP Information)' newest research report, the “Interactive Voice Response System Industry Forecast” looks at past sales and reviews total world Interactive Voice Response System sales in 2022, providing a comprehensive analysis by region and market sector of projected Interactive Voice Response System sales for 2023 through 2029. With Interactive Voice Response System sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Interactive Voice Response System industry.

This Insight Report provides a comprehensive analysis of the global Interactive Voice Response System landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Interactive Voice Response System portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Interactive Voice Response System market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Interactive Voice Response System and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Interactive Voice Response System.

The global Interactive Voice Response System market size is projected to grow from US$ 4261 million in 2022 to US$ 6029 million in 2029; it is expected to grow at a CAGR of 5.1% from 2023 to 2029.

IVR systems are used to service high call volumes at lower cost. The use of IVR allows callers' queries to be resolved without a live agent. If callers do not find the information they need, the calls may be transferred to a live agent. The approach allows live agents to have more time to deal with complex interactions. When an IVR system answers multiple phone numbers, the use of DNIS ensures that the correct application and language is executed. A single large IVR system can handle calls for thousands of applications, each with its own phone numbers and script. IVR systems can be used for mobile purchases, banking payments and Services, retail orders, utilities, travel information and weather conditions.

This report presents a comprehensive overview, market shares, and growth opportunities of Interactive Voice Response System market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Cloud Based
On-Premise

Segmentation by application
BFSI
Travel and Hospitality
Pharma and Healthcare
Telecommunications
Government and Public Sector
Transportation and Logistics
ITES
Media, Retail, and E-commerce
Education

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
inContact
Nuance Communications
Genesys Telecommunication Laboratories
8x8
AT&T
Avaya
Aspect Software Parent
24/7 Customer
Verizon Communications
Five9
Cisco Systems
Convergys Corporation
West Corporation
IVR Lab
NewVoiceMedia

Please note: The report will take approximately 2 business days to prepare and deliver.