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Speech Based Interactive Voice Response Software Market Worth Value Size Share Growth Trends Outlook Forecast Industry Statistics | Valuates Reports
In 2018, the global Speech Based Interactive Voice Response Software market size was 1250 million US$ and it is expected to reach 3120 million US$ by the end of 2025, with a CAGR of 12.1% during 2019-2025.Get Free Sample: https://reports.valuates.com/request/sample/QYRE-Auto-F398/
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.
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Speech Based Interactive Voice Response (IVR) Software Market Share
The Speech Based Interactive Voice Response Software industry concentration is unbalanced, and there are many small and new companies in this industry. Global giant players mainly distributed in U.S. The players in U.S. have a long history and unshakable status in this field. The key consumption markets locate at developed countries. USA takes the market share of 41.69% in 2017, followed by Europe with 26.01%. China's consumption market has a quicker growing speed, with a CAGR of 14.34%.
Speech Based Interactive Voice Response (IVR) Software Market segment by Regions/Countries, this report covers
o United States
o Europe
o China
o Japan
o Southeast Asia
o India
o Central & South America
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This report focuses on the global Speech Based Interactive Voice Response Software status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Speech Based Interactive Voice Response Software development in United States, Europe and China.
The key players covered in this study
o 8X8, Inc. (US)
o Nuance Communications, Inc. (US)
o Convergys Corporation (US)
o Avaya Inc. (US)
o Cisco Systems, Inc. (US)
o Connect First (US)
o West Corporation (US)
o Genesys Telecommunication Laboratories, Inc. (US)
o Verizon Communications Inc. (US)
o IVR Lab (US)
o Aspect Software Parent Inc. (US)
o 24/7 Customer, Inc. (US)
o InContact Inc. (US)
o NewVoiceMedia (UK)
o Five9, Inc. (US)
Speech Based Interactive Voice Response (IVR) Software Market segment by Type, the product can be split into
o Cloud-based
o On Premise
Speech Based Interactive Voice Response (IVR) Software Market segment by Application, split into
o Large Enterprise
o Medium Enterprise
o Small Enterprise
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