Press release
Interactive Voice Response Market Size Forecasted To Achieve $7.7 Billion By 2029 With Steady Growth
Interactive Voice Response Market
What Is the Interactive Voice Response Market Size and Projected Growth Rate?
The market size of interactive voice response has seen robust growth in recent times. The projection shows an increase from $5.53 billion in 2024 to $5.92 billion in 2025, representing a compound annual growth rate (CAGR) of 7.0%. The historical growth in this market is due to the increased use of internet services and mobile phones, the growth in the number of customer service and sales teams across various organizations, and an increasing demand for improved customer relationship management.
The market size of interactive voice response is predicted to witness a significant surge in the following years, expanding to $7.7 billion in 2029 with a compound annual growth rate (CAGR) of 6.8%. Such growth during the forecasted timeline is linked to an increase in the acceptance of personalized IVR, the expansion of internet accessibility, and a boost in cloud-based IVR. Some of the key trends likely to drive this growth in the forecast period include the rise of microfinance and digital banking, strategic partnerships and collaborations, investment influx, product innovation, and technological improvement in interactive voice response.
Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=13868
What Are the Major Segments in the Interactive Voice Response Market?
The interactive voice response market covered in this report is segmented -
1) By Services: Installation, Training And Education, Maintenance And Support
2) By Technology: Speech Based, Touch-Tone Based
3) By Deployment Mode: Cloud, On Premises
4) By Organization Size: Small Medium Enterprise (SME), Large Enterprise
5) By Industry Verticals: Banking, Financial Services and Insurance(BFSI), Travel And Hospitality, Pharma And Healthcare, Telecommunications, Government And Public Sector, Transportation And Logistics, Information Technology Enabled Services(ITES), Media, Retail, And E-commerce, Education, Other Industries
Subsegments:
1) By Installation: System Setup And Configuration, Hardware Installation, Software Deployment, Integration With Existing Systems
2) By Training And Education: User Training Programs, Technical Training For IT Staff, Workshops And Seminars, Online Training Modules
3) By Maintenance And Support: Technical Support Services, Software Updates And Upgrades, System Monitoring And Troubleshooting, Performance Optimization Services
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=13868&type=smp
What Are The Driving Interactive Voice Response Market Evolution?
The burgeoning internet accessibility is predicted to fuel the expansion of the interactive voice response market in the future. The term 'Internet penetration' pertains to the proportion of a populace or a distinct geographic region with Internet access. Interactive Voice Response (IVR) systems have the ability to enhance internet penetration by creating an easily adaptable, user-friendly platform for individuals who might not have straightforward access to the Internet or favour voice-guided communications. For example, in October 2023, the International Telecommunication Union, a telecommunications agency based in Switzerland, declared that 67% of the global population utilises the internet, which signifies a growth of 4.7% from 2022, and marks a rise from the 3.5% growth rate observed between 2021 and 2022. In underdeveloped nations, internet usage climbed to 27% of the population, an increase from 24% in 2022. Hence, the growth of internet penetration is propelling the interactive voice response market.
Which Firms Dominate The Interactive Voice Response Market Segments?
Major companies operating in the interactive voice response market report are Verizon Communications Inc., AT&T Inc., TD Synnex, Cisco Systems Inc., Twilio Inc., Avaya Inc., Genesys Telecommunication Laboratories Inc., West Corporation, [24]7.ai Inc., Five9 Inc., 8X8 Inc., Aspect Software Parent Inc., Ameyo (Drishti Soft Solutions Pvt. Ltd.), Exotel Techcom Pvt. Ltd., Bitrix Inc., Callfire Inc., Handygo Technologies Pvt. Ltd., Agnity Global Inc., Istonish Inc., Evamp & Saanga, Nuance Communications Inc., Bay Talkitec Pvt. Ltd., IVR Lab, inContact Inc., Arise Virtual Solutions Inc.
What Trends Are Driving Growth in The Interactive Voice Response Market?
Significant businesses in the interactive voice response market are inventing novel products like interactive voice response-to-text items to stay competitive. These products intend to offer everyone in the company, regardless of their gadget proficiency, equal chances to access information and communication. A case in point is the US-based system software firm, Verint, which in May 2024 successfully implemented AI-powered bots, specifically the Verint Intelligent Virtual Assistant (IVA). This led to automation of around 80% of its customer communication traffic, enabling the firm to better allocate its human resources to improve the overall delivery of service.
Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/interactive-voice-response-global-market-report
Which Is The Largest Region In The Interactive Voice Response Market?
North America was the largest region in the interactive voice response market in 2024. The regions covered in the interactive voice response market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Interactive Voice Response Market?
2. What is the CAGR expected in the Interactive Voice Response Market?
3. What Are the Key Innovations Transforming the Interactive Voice Response Industry?
4. Which Region Is Leading the Interactive Voice Response Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Interactive Voice Response Market Size Forecasted To Achieve $7.7 Billion By 2029 With Steady Growth here
News-ID: 4024646 • Views: …
More Releases from The Business Research Company
Emerging Innovations Set to Redefine the Sewer Rehabilitation Services Market La …
How Large Is the Sewer Rehabilitation Services Market Anticipated to Become by 2025?
The global market for sewer rehabilitation services has experienced robust expansion lately, projected to increase from a valuation of $42.38 billion in 2024 to $45.14 billion in the subsequent year, reflecting a compound annual growth rate (CAGR) of 6.5%. This historical upward trajectory is primarily fueled by several key factors: escalating levels of urbanization, the ever-aging condition of…
2025-2034 Sea Based C4ISR Market Outlook: Emerging Drivers, Growth Barriers, and …
What Market Size Will the Sea Based C4ISR Sector Reach by 2025?
The maritime C4ISR market experienced substantial expansion lately, projected to climb from a value of $3.0 billion in 2024 to $3.17 billion the following year, reflecting a compound annual growth rate of 5.7%. This upward trend observed over the historical period stems from several factors, including the intensification of naval modernization initiatives, escalating maritime security perils, augmentation in defense…
The Impact of Rapid Urbanization on the Ripening Culture Market: A Key Force Sha …
What Is the Forecasted Size of the Ripening Culture Market by 2025?
The market for ripening cultures has experienced substantial expansion lately, projected to increase from a valuation of $1.46 billion in 2024 to $1.57 billion a year later, demonstrating a consistent yearly growth rate (CAGR) of 7.7%. This upward trajectory during the past period stems from several key factors, including heightened demand for fermented dairy items, greater recognition of the…
Strong Demand Anticipated to Drive Recirculating Chillers Market Toward $2.76 Bi …
How Much Expansion Is Expected in the Recirculating Chillers Market by 2025?
The market encompassing recirculating chillers has seen swift expansion lately, projected to escalate from a value of $1.65 billion in 2024 to $1.83 billion by the ensuing year, reflecting an impressive compound annual growth rate (CAGR) of 11.2%. This upward trajectory during the historical timeframe stems from several factors, including the proliferation of automated systems in industrial procedures, escalating…
More Releases for Interactive
Interactive Tables Market
The interactive tables market is expanding due to evolving digital engagement needs and increasing adoption across various industries. Rising demand for immersive learning solutions enhances adoption rates. Growth in collaborative work environments drives interactive display usage. Increasing digital transformation initiatives accelerate deployment across sectors today. High initial investment costs limit purchasing decisions for institutions. Technical integration issues often delay implementation in complex settings. Limited training reduces effective utilization of interactive…
Interactive Display Market
Allied Market Research has published a latest report titled, “Interactive Display Market by Panel Type (Flat Panel, Flexible Panel, and Transparent Panel), Technology (OLED, LED, LCD, and QD), Screen Size(Less than 35", 35" to 60", and More than 60"), Application (Interactive Table, Interactive Monitor, Interactive Kiosk, Interactive Whiteboard, and Video Wall), and End User (Healthcare, Retail, BFSI, Military & Defense, Transportation, Education, and Other): Global Opportunity Analysis and Industry Forecast,…
Interactive Patient Care
In 2018, the global Interactive Patient Care market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.
This report focuses on the global Interactive Patient Care status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Interactive Patient Care development in United States, Europe, China, Japan, Southeast…
Interactive Whiteboard Market
The IWB market report provides analysis for the period from 2014 to 2024, wherein the period from 2016 to 2024 is the forecast period and 2015 is considered as the base year; 2014 is included as historical information. The report covers all the major trends and technologies that would play a key role in the IWB market’s growth over the forecast period. It also highlights the drivers, restraints, and opportunities…
Interactive Intelligence Inc.
DUBAI, United Arab Emirates, March 28, 2012 -- Interactive Intelligence Group Inc. (Nasdaq: ININ), a global provider of unified IP business communications solutions, has successfully completed IP telephony testing for the Microsoft Unified Communications Open Interoperability Program.
This testing ensures that Interactive Intelligence customers running the latest release of its Customer Interaction Center™ (CIC), version 4.0, will receive qualified telephony infrastructure and services when integrating with Microsoft Lync Server 2010 for…
Interactive Algorithms
Interactive Algorithms is a real-time predictive analytics software solutions provider for capital market clients.
Interactive Algorithms first product is EarlyInfo. The EarlyInfo software application will help investors and traders with market knowledge by analyzing millions of current and historical data in fractions of a second to get the correlated information as statistical and probabilistic prediction using advance AI adaptive algorithms and natural language processing. EarlyInfo will help make trading decision by…
