Interactive Voice Response (IVR) Systems Industry Assessment 2020 - Impact of COVID-19 and a Looming Global Recession
DUBLIN, May 27, 2020 /PRNewswire/ -- The "Interactive Voice Response (IVR) Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
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Amid the COVID-19 crisis and the looming economic recession, the Interactive Voice Response (IVR) Systems market worldwide will grow by a projected US$1.9 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 5.6%.
Touchtone-based, one of the segments analyzed and sized in this study, is forecast to grow at over 5.5% and reach a market size of US$3.6 Billion by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Touchtone-based market will be reset to a new normal which going forward in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 4.5% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US$57.8 Million to the region's size over the next 7 to 8 years. In addition, over US$57.5 Million worth of projected demand in the region will come from Rest of the European markets. In Japan, the Touchtone-based segment will reach a market size of US$181.1 Million by the close of the analysis period.
Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Interactive Voice Response (IVR) Systems market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 9.3% over the next couple of years and add approximately US$511.7 Million in terms of addressable market opportunity.
Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Interactive Voice Response (IVR) Systems market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Key Topics Covered
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
-- Impact of COVID-19 and a Looming Global Recession
-- Customer Service Automation Continues to Play a Crucial Role in Shaping
Brand Experiences
-- Opportunity for IVR Stands Amplified Against the Backdrop of Droids
Taking Over Live Customer Care Agents
-- Recent Market Activity
-- IVR: Technology/Market Overview
-- Market Outlook
-- Global Competitor Market Shares
-- Interactive Voice Response (IVR) Systems Competitor Market Share
Scenario Worldwide (in %): 2020 & 2029
2. FOCUS ON SELECT PLAYERS
-- [24]7 Inc. (USA)
-- Aspect Software, Inc. (USA)
-- AT&T, Inc. (USA)
-- Aumtech, Inc. (USA)
-- Avaya, Inc. (USA)
-- Cisco Systems, Inc. (USA)
-- Connect First, Inc. (USA)
-- Convergys Corp. (USA)
-- Database Systems Corp. (USA)
-- Dialogic Corporation (Canada)
-- DialogTech
-- E-Complish, Inc. (USA)
-- Enghouse Systems Limited (Canada)
-- Genesys (USA)
-- Mitel Networks Corporation (Canada)
-- Nuance Communications, Inc. (USA)
-- True Image Interactive, Inc. (USA)
-- Verizon Communications, Inc. (USA)
-- Voicent Communications, Inc. (USA)
-- West Corporation (USA)
3. MARKET TRENDS & DRIVERS
-- Noteworthy Trends, Drivers & Issues
-- Healthy Outlook for the World Call Center Industry to Offer Trickle Down
Benefits to the IVR Market
-- Mobile Telephony Revolution Creates Explosion in Inbound Call Volumes &
Spurs Opportunities for IVR for Automating Call Handling
-- Continued Use of Telemarketing to Create Valuable Sales Leads, Drives
Opportunities for Outbound IVR
-- The Ballooning eCommerce Market Fuels Demand for IVR
-- Choice of Recorded Voice Gains Prominence in IVR Development &
Deployment
-- Advanced Natural Language Interactive IVR Comes of Age
-- The Rise of Conversational Commerce Drives the Popularity of Speech
Enabled IVR
-- Focus On Customer Experience Monitoring Drives Home the Importance of
IVR Analytics
-- Focus On Personalized Marketing & Customer Service Drives Opportunities
for Personalized IVR
-- Cloud Based IVR Makes Its Disruptive Emergence in the Market
-- Growing Complexity of IVR Infrastructure Maintenance Spurs Interest in
Managed IVR Solutions
-- Convergence of Big Data & Customer Experience Fuel the Emergence of
Smart IVR Technology Solutions
-- Growing Popularity of IVR Payment Processing to Benefit Market Growth
-- Rise in IVR Security Threats Spurs Demand for Voice Biometrics Based IVR
-- Healthcare Consumerism Drives Demand for IVR in the Healthcare Industry
-- Lack of Human Touch: A Key Perspective Bottleneck to Growth
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
-- Total Companies Profiled: 82
For more information about this report visit https://www.researchandmarkets.com/r/fvwng3
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