What is the forecast of the global Call Center AI Market? Who are the leading key players?

The call center industry is one of the very crucial sectors as well as significant economic contributors to emerging economies such as China, India, among others. The work environment required in call centers is emotionally, physically, and mentally challenging.

A satisfied customer provides positive feedback, which is decisive for the growth of the agent as well as the organization. A happy survey typically generates more revenue for the call centers. However, high attrition rates and sluggish career growth diminish the possibility of a call center agent’s long-term association with the company. Furthermore, some of the call centers still rely on old technologies such as IVRs, where a call is received by the first agent that is available, and the Roll Over to the Next Agent (RONA) option in case of the employee’s absence.

Call centers are busy all the time; an agent needs to address customer queries and provide solutions on the go. At times, they are bound to do multitasking. While handling a customer query and looking for the solution, the agent also has to document the issue. Technological advancements are adding up to the customer’s expectations. It offers luxuries like omnichannel communication, 24X7 service availability, and task completion in a single swipe. Therefore, upgrading the technological infrastructure in the call centers is the pressing need of the hour.
Burgeoning social media apps spurred the demand for chatbots by users with a penchant for technology. They are migrating from traditional phone calls to messaging. This mounts up the number of technical and application issues demanding prompt customer service. A call center is always burdened with the workload, which drives the demand for AI and new technological adaptations. More than 80% of the organizations have already integrated chatbots for addressing client concerns, which is expected to increase significantly by 2020.

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The Prominent Players Details:
IBM (us), Microsoft (U.S.), Oracle (U.S.), AWS (U.S.), Avaya (U.S.), Google (U.S.), Haptik (India), Zendesk (U.S.), Conversica (U.S.), Nuance Communications (U.S.), Inbenta Technologies (U.S.), Kore.ai (U.S.), EdgeVerve Systems (India), SAP (Germany), Avaamo (U.S.), Talkdesk (U.S.), Pypestream (U.S.), NICE inContact (U.S.), Creative Virtual (U.K), and Artificial Solutions (Spain)., & More...

By Component, Compute Platform, Solutions, Services,
By Deployment Type, Cloud, On-premises,
By Application, BFSI, Retail & E-commerce, Telecom, Healthcare, Media & entertainment,

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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Call Center AI in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Call Center AI market during the forecast period 2019-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Call Center AI and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Call Center AI. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

Strategic Approach:
Emphasis on customer feedback to modify the solutions and improve customer satisfaction
Investments in R&D to offer innovative products and enhance customer experience
Avaya Holdings Corporation acquired Spoken Communications, a call-center-as-a-Service (CCaaS) solutions provider, in Jan 2018. This acquisition helped customers of Avaya Holdings to shift from on-premise services to cloud-based solutions.
Acquisitions, mergers and collaborations, new launches, and product enhancement strategies are being incorporated by companies to meet the growing demand for call center AI solutions across the globe and to strengthen the position in the market.

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Recent Developments:
PNB Metlife, one of the private insurance companies in India, recently launched an AI-based customer service app, Khushi, in April 2019. It is a virtual agent system that provides a personalized experience for customers and differentiates the business from competitors.

Google launched a beta version of its call center AI that uses tools like Google’s text-to-speech capabilities in April 2019. It also launched an end-to-end AI Platform for developers and data scientists, for building, testing, and deploying models.

MINDsLab launched an AI voice generating service in March 2019, to automatically handle its compliance-related calls

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