Press release
Global Interactive Voice Response Market Top Companies Are NICE inContact, Nuance Communications, Inc., Genesys, 8×8, Inc., AT&T Intellectual Property
Global Interactive Voice Response Market ? Industry Trends and Forecast to 2025
Global Interactive Voice Response Market By Technology (Speech Based, Touch-Tone Based), By Deployment Mode (Cloud, On-Premise), By Organization Size (Small & Medium Enterprises, Large Enterprises), By Service (Installation, Training & Education) By Solution (Call Routing, Outbound, Self-Service), By Vertical, By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East & Africa)– Industry Trends and Forecast to 2025
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Top Competitors:
Some of the major players in the market are :-
NICE inContact,
Nuance Communications, Inc.,
Genesys,
8×8, Inc.,
AT&T Intellectual Property,
Avaya Inc.,
Aspect Software Parent, Inc., [24]7.ai, Inc.,
Verizon,
Five9, Inc.,
Cisco Systems, Inc.,
Convergys,
West Corporation,
IVR Lab,
NewVoiceMedia, among others.
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Market Definition:
Interactive voice response (IVR) is an automated telephony system that helps in interacting with callers and collects the information in order to deliver it to the appropriate recipients. This technology includes the usage of voice and keypad DTMF tone input to communicate with the user’s host system. It is widely applicable in banking, financial services and insurance, travel and hospitality, pharma and healthcare, telecommunications, government and public sector, transportation and logistics, information technology-enabled services, media, retail, and e-commerce, education among others. Product development has contributed to the market of interactive voice response for instance, in September 2011, Tata Communications launched a new cloud-based platform for the global contact center industry. Furthermore, in February 2018, Avaya launched commercially available, end-to-end NENA i3 compliant Next Generation 911 (NG911) solution under the partnership of Beta 80.
Major Market Drivers and Restraints:
Rising demand for cloud-based technologies
Increased amalgamation of advanced technologies
Advent of IVRs for enhancing scalability and organizations
Increased security concerns
Competitive Analysis:
The global interactive voice response market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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