Interactive Voice Response Market scrutinized in top research report for the forecast 2017-2022 - Scalar Market Research

Interactive Voice Response (IVR) is a technology that allows a computer to interact with humans through the voice medium. Dual-tone Multi Frequency (DTMF) signals are the main source through which the interaction between a computer and a human can happen. DTMF signals are the tones that the keys on the keyboard produce. IVR enables identification, segmentation, and routing of the callers. It is a simple and effective means of reducing company costs and increase efficiency, hence IVR is gaining popularity among various industries. This report studies the current and future aspects of the interactive voice response market.

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KEY PREMIUM INDUSTRY INSIGHTS

1. The global interactive voice response market is growing at a fast pace during the forecasted period mainly because of advancement in technologies. There is an increased need for interactive voice response technology and rise in the cloud based services to enhance customer experience and to meet industry standards.

2. The growth in banking and other sectors are promoting the growth of the IVR market. Companies are investing heavily to enhance customer requirements, and resolve a customer query, which is boosting the market growth further.

3. However, due to advancement of IVR technology there is an exhaustive list of options present in the menu, which can be dissatisfying for the customers. In this scenario, customers prefer talking to the customer service person than talking to a machine. This factor is hampering the market growt

The global interactive voice response market is divided into five major geographical segments which are North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The Asia Pacific region holds the highest market share and is the largest revenue contributor of interactive voice response market. The region continues to dominate the global market during the forecasted period because of presence of large number of small, medium, and large-scale enterprises. There is a huge end-user base present in emerging economies such as Japan and China, which is favoring the progress of the market.

KEY MARKET PLAYERS

Key players in the interactive voice response market include:

1. inContact Inc.
2. Nuance Communications, Inc.
3. Genesys Telecommunication Laboratories, Inc.
4. 8x8, Inc.
5. AT&T Inc.
6. Avaya Inc.
7. Aspect Software Parent, Inc.
8. 24/7 Customer, Inc.
9. Verizon Communications Inc.
10. Five9, Inc.

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