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Speech Based Interactive Voice Response Software market was valued at US$ 2278.8 million in 2022 and is anticipated to reach US$ 4522 million by 2029, witnessing a CAGR of 12.1% - Valuates Reports
Speech Based Interactive Voice Response Software market was valued at US$ 2278.8 million in 2022 and is anticipated to reach US$ 4522 million by 2029, witnessing a CAGR of 12.1% during the forecast period 2023-2029.Get sample report - https://reports.valuates.com/request/sample/QYRE-Auto-13M9353/Global_Speech_Based_Interactive_Voice_Response_Software_Market_Insights_and_Forecast_to_2028
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.
The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Global Speech Based Interactive Voice Response Software key players include Nuance, Convergys, Cisco, West Corporatio, etc. Global top four manufacturers hold a share about 40%. North America is the largest market, with a share over 35%.
Segment by Type
Cloud-based
On Premise
Segment by Application
Large Enterprise
Medium Enterprise
Small Enterprise
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