Jun 15, 2023

News provided by Share this article Share this article NEW YORK, June 15, 2023 /PRNewswire/ -- The call center AI market size is estimated to increase by USD 2,722.45 million from 2022 to 2027, with a CAGR of 22.42%, according to a recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report - Request a sample report Technavio has announced its latest market research report titled Global Call Center AI Market 2023-2027 Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability. Find technavio's Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH. Furthermore, market adoption rates for all regions have been covered. The call center AI market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below - Alphabet Inc., Amazon.com Inc., Artificial Solutions International AB, Avaamo Inc., Avaya Holdings Corp., Conversica Inc., Creative Virtual Ltd., EdgeVerve Systems Ltd., Inbenta Holdings Inc., Jio Haptik Technologies Ltd., Kore.ai Inc., Microsoft Corp., NICE Ltd., Nuance Communications Inc., Oracle Corp., Pypestream Inc., Rulai, SAP SE, Talkdesk Inc., and Zendesk Inc. Download a Sample  Report! Call center AI market - Segmentation Analysis The market is segmented by end-user (BFSI, retail and e-commerce, IT and telecom, media, and entertainment, and others) and channel (phone, chat, email or text, social media, and website) The market share growth by the BFSI segment will be significant during the forecast period. Banks are including chatbot technologies to enhance their existing service channels and offer 24/7 customer service. The major factor responsible for the dominance of chatbots in this sector is to support mobile apps. Various banking activities such as checking the balance in bank accounts, paying bills, and transferring funds between accounts are some of the banking applications where chatbots are used. In addition, the BFSI sector has been an early adopter of call center AI technologies due to its large customer base globally. Hence the above-mentioned factors will increase the segment growth during the forecast period. Call center AI market - Market Dynamics Key Drivers The rising adoption of cloud-based call centers is the key factor driving the global call center AI market growth. A cloud-based call center is a SaaS that is deployed, stored, and precisely designed for cloud solutions. Businesses have the option to utilize the service through a subscription model, where they are charged according to their usage (vendors only charge them for the service they use). Cloud-based call centers offer flexibility by easily adapting to changing business requirements and can be integrated with third third-party applications by using an open application programming interface (API). In addition, a reliable cloud-based solution can handle inbound, outbound, and blended interaction seamlessly, which will help in providing personalized services to customers easily and cost-effectively. This can help companies personalize services, effectively route inquiries, and solve problems within one interactive session. As a result, this will lead to an increase in the adoption of cloud-based call centers during the forecast period. Major Trends Integration of chatbots for better turnaround times is the primary trend in the global call center AI market growth. Call centers are trying to add chatbots to their processes because in the future they will have to look for alternatives to other human agents to solve simple customer questions and produce better solutions. Good customer service can lead to business success. The customers are answered back quickly with the help of chatbots which speed up delivery times. Chatbots will also help enterprises delight their customers without losing the human touch. Thus, the integration of chatbots into call centers will help in improving the customer experience. Hence, it will lead to an increase in the adoption of call center solutions during the forecast period. Significant Challenges Integration issues between front-end and back-end knowledge bases are a major challenge to the global call center AI market growth. Integrating chatbots into an organization is tough because the organization and the chatbot have separate databases. Implementing a chat might either overlap with an existing database or establish additional databases. As a result, because the chat employs its expertise to answer client inquiries, it inhibits people from offering a comprehensive response. Furthermore, technological breakdowns that occur during operations may be costly to organizations and diminish their operational efficiency. Therefore, vendors should integrate multiple IT systems in organizations along with bots with the help of the IT team as they have the technical expertise to manage it. Hence, these factors may hinder the growth of the market during the forecast period. For Insights on the market dynamics & segmentations VIEW PDF SAMPLE! Call center AI market - Geographic Analysis The market is segmented by region North America, APAC, Europe, South America, and Middle East and Africa. An analysis of key leading countries has been included. North America is estimated to contribute 37% to the growth of the global market during the forecast period. This growth is due to many people using the Internet for applications such as traveling and shopping. Furthermore, the increased use and benefits of bots encourage companies in different sectors, such as the BFSI and retail, to invest in bots to enhance customer experience and ensure brand loyalty. Customers present in the region are tech-savvy and early adopters of chatbot technology. Moreover, the call center AI market in the region has experienced a rise in the adoption of advanced technologies such as cloud-based call center solutions, voice recognition software, chatbots, and AI. Therefore, various organizations have started adopting call center analytics, including speech analytics, multichannel customer interaction analytics, and call center performance analytics applications in the region. What are the key data covered in this Call Center AI Market report? CAGR of the market during the forecast period Detailed information on factors that will drive the growth of the call center AI market between 2023 and 2027 Precise estimation of the size of the call center AI market and its contribution to the market with a focus on the parent market Accurate predictions about upcoming trends and changes in consumer behavior Growth of the call center AI market across North America, APAC, Europe, South America, and the Middle East and Africa A thorough analysis of the market's competitive landscape and detailed information about vendors Comprehensive analysis of factors that will challenge the growth of call center AI market vendors Gain instant access to 17,000+ market research reports. Related Reports: The artificial intelligence (AI) text generator market is estimated to grow at a CAGR of 17.22% between 2022 and 2027. The market size is forecasted to increase by USD 582.34 million. Furthermore, this report extensively covers market segmentation by component (solution and service), application (text-to-text, speech-to-text, and /or image/video-to-text), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The growing popularity of AI text generators for e-learning is one of the key factors driving artificial intelligence (AI) text generator growth. The call center outsourcing market  size in Europe is expected to increase by USD 3.73 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.53%. Furthermore, this report extensively covers the call center outsourcing market segmentation in Europe by end-user (IT and telecom, BFSI, healthcare, retail, and others) and geography (UK, Germany, France, The Netherlands, and the Rest of Europe). The increase in call center outsourcing by IT and telecom service providers is one of the key factors driving the call center outsourcing market growth. Call Center AI Market Scope Report Coverage Key companies profiled Alphabet Inc., Amazon.com Inc., Artificial Solutions International AB, Avaamo Inc., Avaya Holdings Corp., Conversica Inc., Creative Virtual Ltd., EdgeVerve Systems Ltd., Inbenta Holdings Inc., Jio Haptik Technologies Ltd., Kore.ai Inc., Microsoft Corp., NICE Ltd., Nuance Communications Inc., Oracle Corp., Pypestream Inc., Rulai, SAP SE, Talkdesk Inc., and Zendesk Inc. Market dynamics Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. Table of Contents Exhibit 14: Chart on Global - Market Size and forecast 2022-2027 ($ million) Exhibit 15: Data Table on Global - Market Size and forecast 2022-2027 ($ million) Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%) Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%) 4 Historic Market Size 4.1 Global call center AI market 2017 - 2021 Exhibit 18: Historic Market Size – Data Table on Global call center AI Market 2017 - 2021 ($ million) 4.2 End-User Segment Analysis 2017 - 2021 Exhibit 19: Historic Market Size – End-User Segment 2017 - 2021 ($ million) 4.3 Channel Segment Analysis 2017 - 2021 Exhibit 20: Historic Market Size – Channel Segment 2017 - 2021 ($ million) 4.4 Geography Segment Analysis 2017 - 2021 Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million) 4.5 Country Segment Analysis 2017 - 2021 Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million) 5 Five Forces Analysis Exhibit 33: Data Table on Comparison by End-user 6.3 BFSI - Market Size and forecast 2022-2027 Exhibit 34: Chart on BFSI - Market size and forecast 2022-2027 ($ million) Exhibit 35: Data Table on BFSI - Market size and forecast 2022-2027 ($ million) Exhibit 36: Chart on BFSI - Year-over-year growth 2022-2027 (%) Exhibit 37: Data Table on BFSI - Year-over-year growth 2022-2027 (%) 6.4 Retail and e-commerce - Market size and forecast 2022-2027 Exhibit 38: Chart on Retail and e-commerce - Market size and forecast 2022-2027 ($ million) Exhibit 39: Data Table on Retail and e-commerce - Market size and forecast 2022-2027 ($ million) Exhibit 40: Chart on Retail and e-commerce - Year-over-year growth 2022-2027 (%) Exhibit 41: Data Table on Retail and e-commerce - Year-over-year growth 2022-2027 (%) 6.5 IT and telecom - Market size and forecast 2022-2027 Exhibit 42: Chart on IT and telecom - Market size and forecast 2022-2027 ($ million) Exhibit 43: Data Table on IT and telecom - Market size and forecast 2022-2027 ($ million) Exhibit 44: Chart on IT and telecom - Year-over-year growth 2022-2027 (%) Exhibit 45: Data Table on IT and telecom - Year-over-year growth 2022-2027 (%) 6.6 Media and entertainment - Market size and forecast 2022-2027 Exhibit 46: Chart on Media and entertainment - Market size and forecast 2022-2027 ($ million) Exhibit 47: Data Table on Media and entertainment - Market size and forecast 2022-2027 ($ million) Exhibit 48: Chart on Media and entertainment - Year-over-year growth 2022-2027 (%) Exhibit 49: Data Table on Media and entertainment - Year-over-year growth 2022-2027 (%) 6.7 Others - Market size and forecast 2022-2027 Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ million) Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ million) Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%) Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%) 6.8 Market opportunity by End-user Exhibit 54: Market opportunity by End-user ($ million) 7 Market Segmentation by Channel 7.1 Market segments Exhibit 58: Data Table on Comparison by Channel 7.3 Phone - Market size and forecast 2022-2027 Exhibit 59: Chart on Phone - Market size and forecast 2022-2027 ($ million) Exhibit 60: Data Table on Phone - Market size and forecast 2022-2027 ($ million) Exhibit 61: Chart on Phone - Year-over-year growth 2022-2027 (%) Exhibit 62: Data Table on Phone - Year-over-year growth 2022-2027 (%) 7.4 Chat - Market size and forecast 2022-2027 Exhibit 63: Chart on Chat - Market size and forecast 2022-2027 ($ million) Exhibit 64: Data Table on Chat - Market size and forecast 2022-2027 ($ million) Exhibit 65: Chart on Chat - Year-over-year growth 2022-2027 (%) Exhibit 66: Data Table on Chat - Year-over-year growth 2022-2027 (%) 7.5 Email or text - Market size and forecast 2022-2027 Exhibit 67: Chart on Email or text - Market size and forecast 2022-2027 ($ million) Exhibit 68: Data Table on Email or text - Market size and forecast 2022-2027 ($ million) Exhibit 69: Chart on Email or text - Year-over-year growth 2022-2027 (%) Exhibit 70: Data Table on Email or text - Year-over-year growth 2022-2027 (%) 7.6 Social media - Market size and forecast 2022-2027 Exhibit 71: Chart on Social media - Market size and forecast 2022-2027 ($ million) Exhibit 72: Data Table on Social media - Market size and forecast 2022-2027 ($ million) Exhibit 73: Chart on Social media - Year-over-year growth 2022-2027 (%) Exhibit 74: Data Table on Social media - Year-over-year growth 2022-2027 (%) 7.7 Website - Market size and forecast 2022-2027 Exhibit 75: Chart on Website - Market size and forecast 2022-2027 ($ million) Exhibit 76: Data Table on Website - Market size and forecast 2022-2027 ($ million) Exhibit 77: Chart on Website - Year-over-year growth 2022-2027 (%) Exhibit 78: Data Table on Website - Year-over-year growth 2022-2027 (%) 7.8 Market opportunity by Channel Exhibit 79: Market opportunity by Channel ($ million) 8 Customer Landscape Exhibit 84: Data Table on Geographic comparison 9.3 North America - Market size and forecast 2022-2027 Exhibit 85: Chart on North America - Market size and forecast 2022-2027 ($ million) Exhibit 86: Data Table on North America - Market size and forecast 2022-2027 ($ million) Exhibit 87: Chart on North America - Year-over-year growth 2022-2027 (%) Exhibit 88: Data Table on North America - Year-over-year growth 2022-2027 (%) 9.4 APAC - Market size and forecast 2022-2027 Exhibit 89: Chart on APAC - Market size and forecast 2022-2027 ($ million) Exhibit 90: Data Table on APAC - Market size and forecast 2022-2027 ($ million) Exhibit 91: Chart on APAC - Year-over-year growth 2022-2027 (%) Exhibit 92: Data Table on APAC - Year-over-year growth 2022-2027 (%) 9.5 Europe - Market size and forecast 2022-2027 Exhibit 93: Chart on Europe - Market size and forecast 2022-2027 ($ million) Exhibit 94: Data Table on Europe - Market size and forecast 2022-2027 ($ million) Exhibit 95: Chart on Europe - Year-over-year growth 2022-2027 (%) Exhibit 96: Data Table on Europe - Year-over-year growth 2022-2027 (%) 9.6 South America - Market size and forecast 2022-2027 Exhibit 97: Chart on South America - Market size and forecast 2022-2027 ($ million) Exhibit 98: Data Table on South America - Market size and forecast 2022-2027 ($ million) Exhibit 99: Chart on South America - Year-over-year growth 2022-2027 (%) Exhibit 100: Data Table on South America - Year-over-year growth 2022-2027 (%) 9.7 Middle East and Africa - Market size and forecast 2022-2027 Exhibit 101: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million) Exhibit 102: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million) Exhibit 103: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%) Exhibit 104: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%) 9.8 US - Market size and forecast 2022-2027 Exhibit 105: Chart on US - Market size and forecast 2022-2027 ($ million) Exhibit 106: Data Table on US - Market size and forecast 2022-2027 ($ million) Exhibit 107: Chart on US - Year-over-year growth 2022-2027 (%) Exhibit 108: Data Table on US - Year-over-year growth 2022-2027 (%) 9.9 China - Market size and forecast 2022-2027 Exhibit 109: Chart on China - Market size and forecast 2022-2027 ($ million) Exhibit 110: Data Table on China - Market size and forecast 2022-2027 ($ million) Exhibit 111: Chart on China - Year-over-year growth 2022-2027 (%) Exhibit 112: Data Table on China - Year-over-year growth 2022-2027 (%) 9.10 UK - Market size and forecast 2022-2027 Exhibit 113: Chart on UK - Market size and forecast 2022-2027 ($ million) Exhibit 114: Data Table on UK - Market size and forecast 2022-2027 ($ million) Exhibit 115: Chart on UK - Year-over-year growth 2022-2027 (%) Exhibit 116: Data Table on UK - Year-over-year growth 2022-2027 (%) 9.11 Germany - Market size and forecast 2022-2027 Exhibit 117: Chart on Germany - Market size and forecast 2022-2027 ($ million) Exhibit 118: Data Table on Germany - Market size and forecast 2022-2027 ($ million) Exhibit 119: Chart on Germany - Year-over-year growth 2022-2027 (%) Exhibit 120: Data Table on Germany - Year-over-year growth 2022-2027 (%) 9.12 Japan - Market size and forecast 2022-2027 Exhibit 121: Chart on Japan - Market size and forecast 2022-2027 ($ million) Exhibit 122: Data Table on Japan - Market size and forecast 2022-2027 ($ million) Exhibit 123: Chart on Japan - Year-over-year growth 2022-2027 (%) Exhibit 124: Data Table on Japan - Year-over-year growth 2022-2027 (%) 9.13 Market opportunity by geography Exhibit 125: Market opportunity by geography ($ million) 10 Drivers, Challenges, and Trends 10.1 Market drivers About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contact