Global Speech Based Interactive Voice Response Software Market Growth (Status and Outlook) 2023-2029

Global Speech Based Interactive Voice Response Software Market Growth (Status and Outlook) 2023-2029

Interactive Voice Response (IVR) is an automated telephony system technology that interacts with the callers, gathers the required information and routes the calls to the particular appropriate recipient.

With the modern, sophisticated IVR systems, you can gather the input and responses through spoken words with the voice recognition. Conversations are either pre-recorded or generated audio which assists, directs, or guides customers automatically without a live operator.

Within these interactions, clients can communicate by using either the touch-tone keypad selection or voice telephone input. The responses take the form of voice, call- back or any other related media.

IVR software enables an organization to use prerecorded greetings or menu options that a customer can access through a phone keypad. Advanced IVR systems may include speech recognition software to enable a customer to communicate with a computer. Many companies have augmented or replaced IVR systems with automated speech recognition technologies that enable callers to speak their requests instead of punching numbers into their phones. These voice recognition systems can frustrate callers if the system doesn't recognize a caller's questions.

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

This Insight Report provides a comprehensive analysis of the global Speech Based Interactive Voice Response Software 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 Speech Based Interactive Voice Response Software portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Speech Based Interactive Voice Response Software market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Speech Based Interactive Voice Response Software 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 Speech Based Interactive Voice Response Software.

The global Speech Based Interactive Voice Response Software market size is projected to grow from US$ 1970.5 million in 2022 to US$ 4508.7 million in 2029; it is expected to grow at a CAGR of 12.6% from 2023 to 2029.

Global Speech Based Interactive Voice Response Software key players include Nuance, Convergys, Cisco, West Corporatio, etc. Global top four manufacturers hold a share about 40%. North America is the largest market, with a share over 35%.

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

Market Segmentation:

Segmentation by type
Cloud-based
On Premise

Segmentation by application
Large Enterprise
Medium Enterprise
Small Enterprise

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.
8X8, Inc. (US)
Nuance Communications, Inc. (US)
Convergys Corporation (US)
Avaya Inc. (US)
Cisco Systems, Inc. (US)
Connect First (US)
West Corporation (US)
Genesys Telecommunication Laboratories, Inc. (US)
Verizon Communications Inc. (US)
IVR Lab (US)
Aspect Software Parent Inc. (US)
24/7 Customer, Inc. (US)
InContact Inc. (US)
NewVoiceMedia (UK)
Five9, Inc. (US)

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