Press release
Global Speech-Based Interactive Voice Response Software Market Trends, Business Overview, Industry Growth and Forecast to 2022-2028
The global speech-based interactive voice response software market is anticipated to grow at a considerable CAGR of 12.2% during the forecast period (2022-2028). Speech-based Interactive voice response software is a programmed application that is used to handle calls and chats decreasing the requirement for human resources. Thus, lowering the operation cost. The major factor attributing to the growth of the global speech-based interactive voice response software market is the increasing application of interactive voice response software in the growing telecom industry. According to the report published by the India brand equity Foundation (IBEF) in March 2022, with the described base of 1.16 billion, India is the second-largest telecommunication industry and is expected to consistently grow during the forecast period. The gross revenue of the Indian telecom industry was around $37.36 billion in 2021 and $8.74 billion in the first quarter of 2022. Thus, increasing the demand and use of interactive voice response software for customer support.The use of speech-based interactive voice response software is also increasing due to several benefits offered by interactive voice response software. The benefits include improvement of the customer journey, measurement of customer satisfaction, intelligent call routing, support in busy times and disaster recovery, and improvement of morale by freeing the consultants. Thus, propelling the growth of the global speech-based interactive voice response software market.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in March 2022, GL Communications Inc. launched the solutions for testing the functionality of the call centers. The solution is the automatic generation of hundreds of calls from a lab environment or over the Public Switched Telephone Network (PSTN). Bulk call generation for load testing call centers solution by GL Communications can be used for the testing of functionality of the voicemail (VM), and interactive voice response (IVR). It can also test the voice quality of IP, wireless, and TDM networks.
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Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- 8x8 Inc., Nuance Communications Inc., Concentrix Corp., Cisco Systems Inc., and IVR Lab, 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?
A full report of Global Speech-Based Interactive Voice Response Software Market is available at:
https://orionmarketreports.com/global-speech-based-interactive-voice-response-software-market/107002/
Global Speech-Based Interactive Voice Response Software Market Report by Segment
By Type
• Agent-Assisted Interactive Voice Response Software
• Automated Interactive Voice Response Software
By Application
• Call Centers
• IT & Telecommunication
• Others
Company name: Orion Market Reports
Contact person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
About us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
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