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Interactive Voice Response Market by Technology (Touch-Tone and Speech), Deployment (Cloud and on Premise), Vertical (BFSI, Pharma and Healthcare, ITES), Organization Size, Solution, Service, And Geography - Global Forecast to 2023

Interactive Voice Response Market by Technology (Touch-Tone and Speech), Deployment (Cloud and on Premise), Vertical (BFSI, Pharma and Healthcare, ITES), Organization Size, Solution, Service, And Geography - Global Forecast to 2023

“Increasing scalability and efficiency of organizations is contributing to the growth of the interactive voice response market”
The interactive voice response (IVR) market was valued at USD 3.73 billion in 2017 and is expected to reach USD 5.54 billion by 2023, at a CAGR of 6.83% during the forecast period. IVRs are implemented in multiple enterprises due to its ability to help improve the productivity and effectiveness of the organization. A scalable architecture is achievable using the latest IVRs. The ability of IVRs to route callers to the appropriate department is one of the major reasons for their increased adoption in small and medium enterprises (SMEs) and large enterprises. The IVRs help in routing calls to the concerned agent to save the caller’s time. This results in higher customer satisfaction along with effective customer services. A higher level of customer satisfaction further increases the probability of selling to a new as well as an existing prospect. On the other hand, the complexity of the IVRs due to the presence of multiple irrelevant options is one of the restraining factors in the market. The additional information confuses the customer in selecting a particular option from a list of options in the menu. Hence, sometimes the customers prefer to talk to the customer service person directly instead of talking to a machine. Limiting the menu options helps the system to remember the customer’s choices as well as minimizes the time required for the customer to choose from a list of multiple options.

“Adoption of cloud infrastructure boosts the demand for interactive voice response systems”
There is an increasing adoption of cloud infrastructure because of the ability to provide their self-service applications at a minimal cost. This infrastructure helps the organizations to reduce the operating expense (OPEX) allowing them to achieve a considerably higher level of efficiency. The hosted cloud deployment mode offers ease of data accessibility from anywhere at any time. Moreover, the hosted cloud offers ease of integration with the existing server, which operates on its own physical hardware in minimal time.

“North America considered as key region for the interactive voice response market”
North America held the largest share of the interactive voice response market in 2016. The increasing demand for cloud-based IVRs in SMEs is likely to drive the growth of the interactive voice response market in North America. Advancements in the interactive voice response technology for flawless communication and security, as well as the ease of accomplishing a task without the help of an agent are the crucial factors driving the growth of the interactive voice response market. Moreover, the tremendous growth of IP contact centers in the US has propelled the growth of the interactive voice response market. The overall interactive voice response market in this region is highly fragmented with the presence of some large and several medium-sized companies that offer solutions for various verticals such as BFSI, pharma and healthcare, government and public sector, and education. 8X8, Inc. (US), Nuance Communications, Inc. (US), Convergys Corporation (US), Avaya Inc. (US), Cisco Systems, Inc. (US), AT&T Inc. (US), West Corporation (US), Genesys Telecommunication Laboratories, Inc. (US), Verizon Communications Inc. (US), 24/7 Customer, Inc. (US), and Five9, Inc. (US) are some of the major companies that offer IVR solutions in North America.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key experts.
Following is the breakup of the profile of primary participants:
• By Company Type: Tier 1 – 35%, Tier 2 – 40%, and Tier 3 – 25%
• By Designation: C-Level Executives – 50%, Directors – 35%, and Others – 15%
• By Region: North America – 35%, Europe – 22%, APAC – 30%, and RoW – 13%

The prominent players profiled in this report are 8X8, Inc. (US), Nuance Communications, Inc. (US), Convergys Corporation (US), Avaya Inc. (US), Cisco Systems, Inc. (US), AT&T Inc. (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), and Five9, Inc. (US).

Research Coverage:
The report estimates the size and future growth potential of the interactive voice response market for various segments such as deployment mode, technology, organization size, services, vertical, and geography. In addition, the report comprises industry trends, market dynamics, and competitive analysis of the key players in the market, along with their company profiles, competitive leadership mapping, and recent developments.

Key Benefits of Buying the Report:
The report would help market leaders/new entrants by providing them with the closest approximations of the revenues generated from the IVR segments and subsegments. This report would help stakeholders better understand the competitor landscape and gain insights to better position their businesses and make suitable go-to-market strategies. This report also helps the stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.


  • INTRODUCTION
    • STUDY OBJECTIVES
    • MARKET DEFINITION
    • SCOPE
      • GEOGRAPHIC SCOPE
      • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • MARKET BREAKDOWN AND DATA TRIANGULATION
    • RESEARCH ASSUMPTIONS
  • EXECUTIVE SUMMARY
  • PREMIUM INSIGHTS
    • ATTRACTIVE GROWTH OPPORTUNITIES IN INTERACTIVE VOICE RESPONSE MARKET
    • INTERACTIVE VOICE RESPONSE MARKET, BY ORGANIZATION SIZE
    • INTERACTIVE VOICE RESPONSE MARKET, BY SERVICE AND REGION
    • INTERACTIVE VOICE RESPONSE MARKET, BY DEPLOYMENT MODE
    • INTERACTIVE VOICE RESPONSE MARKET, BY GEOGRAPHY
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
  • INDUSTRY TRENDS
    • INTRODUCTION
    • VALUE CHAIN ANALYSIS
    • INTERACTIVE VOICE RESPONSE STANDARDS AND REGULATIONS
      • CODES AND STANDARDS RELATED TO INTERACTIVE VOICE RESPONSE
  • INTERACTIVE VOICE RESPONSE MARKET, BY TECHNOLOGY
    • INTRODUCTION
      • Table INTERACTIVE VOICE RESPONSE MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION)
    • SPEECH BASED
      • Table IVR MARKET FOR SPEECH-BASED TECHNOLOGY, BY VERTICAL, 2015-2023 (USD MILLION)
    • TOUCH-TONE BASED
      • Table IVR MARKET FOR TOUCH-TONE-BASED TECHNOLOGY, BY VERTICAL, 2015-2023 (USD MILLION)
  • INTERACTIVE VOICE RESPONSE MARKET, BY DEPLOYMENT MODE
    • INTRODUCTION
      • Table INTERACTIVE VOICE RESPONSE MARKET, BY DEPLOYMENT MODE, 2015-2023 (USD MILLION)
    • CLOUD
      • HOSTED
    • ON PREMISE
  • INTERACTIVE VOICE RESPONSE MARKET, BY ORGANIZATION SIZE
    • INTRODUCTION
      • Table INTERACTIVE VOICE RESPONSE MARKET, BY ORGANIZATION SIZE
      • Table INTERACTIVE VOICE RESPONSE MARKET, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
    • SMALL AND MEDIUM ENTERPRISES (SMES)
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR SMES, BY REGION, 2015-2023 (USD MILLION)
    • LARGE ENTERPRISES
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR LARGE ENTERPRISES, BY REGION, 2015-2023 (USD MILLION)
  • INTERACTIVE VOICE RESPONSE MARKET, BY SERVICE
    • INTRODUCTION
      • Table INTERACTIVE VOICE RESPONSE MARKET, BY SERVICE, 2015-2023 (USD MILLION)
    • INSTALLATION
    • TRAINING AND EDUCATION
    • MAINTENANCE AND SUPPORT
  • INTERACTIVE VOICE RESPONSE MARKET, BY VERTICAL
    • INTRODUCTION
      • Table INTERACTIVE VOICE RESPONSE MARKET, BY VERTICAL, 2015-2023 (USD MILLION)
    • BFSI
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR BFSI, BY TECHNOLOGY, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET IN BFSI, BY REGION, 2015-2023 (USD MILLION)
    • TRAVEL AND HOSPITALITY
      • Table INTERACTIVE VOICE RESPONSE MARKET IN TRAVEL AND HOSPITALITY, BY TECHNOLOGY, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR TRAVEL AND HOSPITALITY, BY REGION, 2015-2023 (USD MILLION)
    • PHARMA AND HEALTHCARE
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR PHARMA AND HEALTHCARE, BY TECHNOLOGY, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR PHARMA AND HEALTHCARE, BY REGION, 2015-2023 (USD MILLION)
    • TELECOMMUNICATIONS
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR TELECOMMUNICATIONS, BY TECHNOLOGY, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR TELECOMMUNICATIONS, BY REGION, 2015-2023 (USD MILLION)
    • GOVERNMENT AND PUBLIC SECTOR
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR GOVERNMENT AND PUBLIC SECTOR, BY TECHNOLOGY, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR GOVERNMENT AND PUBLIC SECTOR, BY REGION, 2015-2023 (USD MILLION)
    • TRANSPORTATION AND LOGISTICS
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR TRANSPORTATION AND LOGISTICS, BY TECHNOLOGY, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR TRANSPORTATION AND LOGISTICS, BY REGION, 2015-2023 (USD MILLION)
    • INFORMATION TECHNOLOGY-ENABLED SERVICES
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR ITES, BY TECHNOLOGY, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR ITES, BY REGION, 2015-2023 (USD MILLION)
    • MEDIA, RETAIL, AND E-COMMERCE
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR MEDIA, RETAIL, AND E-COMMERCE, BY TECHNOLOGY, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR MEDIA, RETAIL, AND E-COMMERCE, BY REGION, 2015-2023 (USD MILLION)
    • EDUCATION
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR EDUCATION, BY TECHNOLOGY, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR EDUCATION, BY REGION, 2015-2023 (USD MILLION)
    • OTHERS
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR OTHERS, BY TECHNOLOGY, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET FOR OTHERS, BY REGION, 2015-2023 (USD MILLION)
  • INTERACTIVE VOICE RESPONSE MARKET, BY SOLUTION
    • INTRODUCTION
    • CALL ROUTING
    • OUTBOUND
    • SELF-SERVICE
  • GEOGRAPHIC ANALYSIS
    • INTRODUCTION
      • Table INTERACTIVE VOICE RESPONSE MARKET, BY REGION, 2015-2023 (USD MILLION)
    • NORTH AMERICA
      • Table INTERACTIVE VOICE RESPONSE MARKET IN NORTH AMERICA, BY VERTICAL, 2016-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET IN NORTH AMERICA, BY DEPLOYMENT MODE, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET IN NORTH AMERICA, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET IN NORTH AMERICA, BY COUNTRY, 2015-2023 (USD MILLION)
      • US
        • Table INTERACTIVE VOICE RESPONSE MARKET IN US, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
      • CANADA
        • Table INTERACTIVE VOICE RESPONSE MARKET IN CANADA, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
      • MEXICO
        • Table INTERACTIVE VOICE RESPONSE MARKET IN MEXICO, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
    • EUROPE
      • Table INTERACTIVE VOICE RESPONSE MARKET IN EUROPE, BY VERTICAL, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET IN EUROPE, BY DEPLOYMENT MODE, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET IN EUROPE, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET IN EUROPE, BY COUNTRY, 2015-2023 (USD MILLION)
      • UK
        • Table INTERACTIVE VOICE RESPONSE MARKET IN UK, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
      • GERMANY
        • Table INTERACTIVE VOICE RESPONSE MARKET IN GERMANY, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
      • ITALY
        • Table INTERACTIVE VOICE RESPONSE MARKET IN ITALY, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
      • FRANCE
        • Table INTERACTIVE VOICE RESPONSE MARKET IN FRANCE, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
      • REST OF EUROPE
        • Table INTERACTIVE VOICE RESPONSE MARKET IN ROE, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
    • ASIA PACIFIC
      • Table INTERACTIVE VOICE RESPONSE MARKET IN APAC, BY VERTICAL, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET IN APAC, BY DEPLOYMENT MODE, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET IN APAC, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET IN APAC, BY COUNTRY, 2015-2023 (USD MILLION)
      • JAPAN
        • Table INTERACTIVE VOICE RESPONSE MARKET IN JAPAN, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
      • CHINA
        • Table INTERACTIVE VOICE RESPONSE MARKET IN CHINA, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
      • INDIA
        • Table INTERACTIVE VOICE RESPONSE MARKET IN INDIA, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
      • PHILIPPINES
        • Table INTERACTIVE VOICE RESPONSE MARKET IN PHILIPPINES, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
      • SOUTH KOREA
        • Table INTERACTIVE VOICE RESPONSE MARKET IN SOUTH KOREA, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
      • REST OF APAC
        • Table INTERACTIVE VOICE RESPONSE MARKET IN ROAPAC, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
    • REST OF THE WORLD
      • Table INTERACTIVE VOICE RESPONSE MARKET IN ROW, BY VERTICAL, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET IN ROW, BY DEPLOYMENT MODE,2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET IN ROW, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
      • Table INTERACTIVE VOICE RESPONSE MARKET IN ROW, BY REGION, 2015-2023 (USD MILLION)
      • SOUTH AMERICA
        • Table INTERACTIVE VOICE RESPONSE MARKET IN SOUTH AMERICA, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
      • MIDDLE EAST AND AFRICA
        • Table INTERACTIVE VOICE RESPONSE MARKET IN MEA, BY ORGANIZATION SIZE, 2015-2023 (USD MILLION)
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • MARKET RANKING ANALYSIS: INTERACTIVE VOICE RESPONSE
      • Table INTERACTIVE VOICE RESPONSE MARKET: COMPANY RANKING ANALYSIS
    • COMPETITIVE LEADERSHIP MAPPING
      • VISIONARY LEADERS
      • DYNAMIC DIFFERENTIATORS
      • INNOVATORS
      • EMERGING COMPANIES
    • BUSINESS STRATEGY EXCELLENCE
    • STRENGTH OF PRODUCT PORTFOLIO
    • COMPETITIVE SITUATIONS AND TRENDS
      • PRODUCT LAUNCHES AND DEVELOPMENTS
        • Table PRODUCT LAUNCHES AND DEVELOPMENTS (2015 - 2017)
      • PARTNERSHIPS AND AGREEMENTS
        • Table PARTNERSHIPS AND AGREEMENTS (2015-2017)
      • MERGERS AND ACQUISITIONS
        • Table MERGERS AND ACQUISITIONS (2015 & 2017)
      • OTHERS
        • Table COLLABORATIONS AND EXPANSIONS (2017)
  • COMPANY PROFILES
    • INTRODUCTION
    • INCONTACT INC.
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • NUANCE COMMUNICATIONS, INC.
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • GENESYS TELECOMMUNICATION LABORATORIES, INC.
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • 8X8, INC.
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • AT&T INC.
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
    • AVAYA INC.
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • ASPECT SOFTWARE PARENT, INC.
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • 24/7 CUSTOMER, INC.
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • VERIZON COMMUNICATIONS INC.
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • FIVE9, INC.
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • CISCO SYSTEMS, INC.
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • CONVERGYS CORPORATION
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
    • WEST CORPORATION
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • IVR LAB
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
    • NEWVOICEMEDIA
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • KEY INNOVATORS
      • LIVEOPS, INC.
      • OZONETEL COMMUNICATIONS PVT. LTD.
      • EVOLVE IP, LLC
  • APPENDIX
    • INSIGHTS OF INDUSTRY EXPERTS
    • QUESTIONNAIRE FOR INTERACTIVE VOICE RESPONSE MARKET
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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