Interactive Voice Response (IVR) Market Trends 2022 | Segmentation, Outlook, Industry Report to 2028

The global interactive voice response (IVR) market is anticipated to grow at a CAGR of nearly 7.0% during the forecast period (2022-2028).

IVR is a telephony menu system that allows identification, segmentation and routing of callers to the most appropriate agent of an organization. The major factor expected to drive the market is its features that are highly business-driven and prioritize calls based on the caller's value as highly-valued customers to get the result faster. In addition, the rising number of customer support and sales teams across organizations and rising cloud infrastructure among organizations are supporting to drive the market growth. The increasing adoption rate of IVRs along with the growing number of operational BPOs and individual contact centers all around the world are further propelling the growth of the global IVR market during the forecast period.

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Furthermore, with the growing integration of advanced technologies coupled with growing demand for IVR-based outbound services and increasing IVR application areas are accelerating the growth of the market. The cost of IVR self-service application is minimized with the continuous efforts of the IVR market players as they are giving more focus on the increasing cloud infrastructure. This, in turn, will further drive the growth of the global IVR market during the forecast period. For instance, Cisco Systems, Inc. IP interactive voice response product increased flexibility, simplified the complexity of business process integration, and provided a more efficient network hosting service.

Some major players in the market include Cisco Systems, Inc., Nuance Communications, Inc., and Avaya Inc., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in June 2021, EnlivenHealth, a division of Omnicell, Inc. declared the launch of Personalized Interactive Voice Response (IVR), a new technology solution that automates patient communications and frees up pharmacists to spend more quality time with patients. As the first release of EnlivenHealth's new omnichannel communications platform, Personalized IVR enables patients to seamlessly engage with the pharmacy through telephone without ever having to speak to a staff member.

Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Technology
o By Deployment Mode
o By Organization Size
o By Vertical
o By Solution

• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape- Cisco Systems, Inc., Nuance Communications, Inc., and Avaya Inc., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Interactive Voice Response (IVR) Market Report by Segment

By Technology
• Speech Based
• Touch-tone Based

By Deployment Mode
• Cloud
• On-Premise

By Organization Size
• Small and Medium Enterprise (SME)
• Large Enterprise

By Vertical
• BFSI
• Travel and Hospitality
• Pharma and Healthcare
• Telecommunications
• Government and Public Sector
• Transportation and Logistics
• ITES
• Media, Retail, and E-commerce
• Education
• Others

By Solution
• Call Routing
• Outbound
• Self-Service

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This release was published on openPR.