Conversational IVR Market

Global Conversational IVR Market Size, Trends & Analysis - Forecasts to 2028 By Technology (NLP, Machine and Deep Learning, ASR), By End-User (BFSI, Retail and E-Commerce, Healthcare, Travel and Hospitality, Telecom, Media, and Entertainment), By Application (Customer Support, Personal Assistant, Branding and Advertisement, Customer Engagement, and Retention, On-boarding and Employee Engagement), By Business Function (Information and Technology, Sales and Marketing, Operations and Supply Chain, Finance and Accounting, Human Resource), By Region (North America, Asia Pacific, Central & South America, Europe, the Middle East & Africa), End-User Landscape Analysis, Company Market Share Analysis, and Competitor Analysis

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This report was recently updated on May 17 2024 with the latest and most recent market numbers

Global Conversational IVR Market Size

The global conversational IVR market is projected to grow at a CAGR of 7.7% from 2023 to 2028.

Interactive Voice Response (IVR) technology serves as a telecommunications tool facilitating human-computer interactions. The market for IVR systems is driven by the advancement of cloud infrastructure, widespread adoption of cutting-edge technologies in the telecom industry, and the increasing call volumes in the e-commerce sector. The integration of Artificial Intelligence (AI) into IVR systems enhances their capabilities and productivity by automating repetitive tasks, reducing call hold times, drop-off rates, and increasing outbound call frequency.

IVR analytics play a significant role in expanding the market by enabling businesses to capture, track, and evaluate the entire call experience, ultimately leading to improved customer satisfaction. The demand for personalised interactions has grown, prompting the use of biometric authentication for recognising callers and tailoring customer services based on their previous interactions and payment history. Conversational IVR systems offer an omnichannel experience, allowing users to switch between channels and resume tasks seamlessly. This flexibility enhances customer experience while reducing operational costs and boosting organisational effectiveness. A well-designed IVR system aligned with the company's brand and policies fosters consistency, enhances the brand image, and establishes strong customer connections.

global conversational ivr market

Global Conversational IVR Market: By Technology

The machine learning and deep learning segment is expected to witness the largest share in the global conversational IVR market during the forecast period of 2023-2028.

Conversational IVR leverages machine learning to dynamically adapt to consumer requests without requiring manual updates or human input. By utilizing AI-based automated systems, the IVR system continuously modifies its algorithm based on user feedback and reinforcement. This integration of machine learning and AI enables the system to accurately capture and analyze the precise words and sentences used by callers, providing organizations with valuable insights into customer preferences for self-service experiences. This data-driven approach supports ongoing system optimization. Additionally, the AI component of the IVR system not only engages directly with consumers but also silently observes all conversations, including those with agents. It actively listens, provides guidance, and gathers data for further analysis and metrics evaluation.

The NLP segment is expected to grow the fastest during 2023-2028. NLP is a branch of artificial intelligence that specialises in converting spoken language into structured data. The objective is to transform unstructured and ambiguous human language into data formats that machines can efficiently process. The utilization of emerging technologies such as artificial intelligence (AI) and natural language processing (NLP) enhances the ability to provide improved customer service. These technologies enable the delivery of customer experiences aligned with their preferences by expediting IVR self-service conversations.

Global Conversational IVR Market: By End-User

The BFSI segment is expected to witness the largest share in the global conversational IVR market during the forecast period of 2023-2028. Conversational IVR technology enables the creation of virtual bank tellers, leveraging the power of artificial intelligence (AI). These AI-powered interactive voice response systems possess the capability to accurately interpret currencies, formats, names, and numbers. They also offer automatic speech-to-text conversion and generate appropriate responses. The IVR technology seamlessly integrates with existing telephone systems, requiring operation and maintenance by the bank's IT division. Alternatively, Cloud IVR utilizes cloud computing to access IVR services, hosted by a third-party provider. Hosted IVR is a popular choice for many institutions due to its scalability, advanced features, and vendor-managed maintenance. Customers can input information through their phone's touchpad in a basic IVR system, while some platforms also incorporate speech recognition. The conversational IVR system can effectively recognize and handle customer responses to inquiries, making it particularly advantageous for banks with departments for credit cards, loans, insurance, and more, as it enhances convenience.

The retail and e-commerce segment is expected to grow the fastest during 2023-2028. Artificial intelligence (AI) is increasingly being integrated into modern digital organizations, impacting various areas such as employee-facing service desks (IT, HR, etc.) and customer service. While AI can enhance multiple aspects of corporate operations, its impact is particularly significant in these domains. Service desks and customer service functions serve as the face of the business, representing the brand and providing direct support to both customers and employees. Conversational IVRs are revolutionizing these areas by shifting the focus from traditional IVR systems that aim to contain and redirect users, to a more person-centric and immersive interaction model. This new approach emphasizes personalization, efficient self-service automation, and quick resolutions. The result is a contemporary experience for employees and consumers that has long been anticipated. Conversational IVR technologies fully automate and optimize the entire engagement-to-resolution process.

Global Conversational IVR Market: By Application

The customer support segment is expected to witness the largest share in the global conversational IVR market during the forecast period of 2023-2028. Irrespective of the communication channel they prefer, customers have a common expectation of timely issue resolution. Leveraging IVR technology, organizations can now effectively assist customers in finding professional services such as plumbers or technicians, addressing technical difficulties, and obtaining updates on order status, services, or package deliveries. By proactively identifying callers, reducing handling times, eliminating the need for human agents, and leveraging existing customer data, personalized experiences can be developed that anticipate customers' needs and concerns. For instance, by matching phone numbers with relevant customer information, organizations can streamline interactions and provide tailored solutions that meet customers' expectations.

The customer engagement and retention segment is expected to grow the fastest during 2023-2028. IVR solutions equipped with Natural Language Processing (NLP) have the capability to fully understand callers by recognizing emotions, tracking dialects, and interpreting phrases. By incorporating voice recognition software, one can accurately capture clients' intentions while allowing them to communicate naturally. This is crucial in reducing customer effort, consistently guiding clients in the right direction, and ensuring that discussions are efficiently routed to the most qualified agent whenever needed. As a result, one can significantly reduce average handling times and enhance first contact resolution, leading to improved overall customer satisfaction.

Global Conversational IVR Market: By Business Function

The operations and supply chain segment is expected to grow the fastest during 2023-2028. By leveraging IVR data analytics, it becomes possible to identify patterns in customer interactions and evaluate system performance. This enables the identification of potential issues throughout the customer lifecycle, understanding the primary drivers behind support inquiries, and gaining deeper insights into user behavior and preferences. By applying the insights derived from this analysis, organizations can enhance user satisfaction, improve call containment, and efficiently guide customers to the answers they seek. Ultimately, this data-driven approach leads to enhanced customer experiences, streamlined support processes, and improved overall performance.

asia pacific conversational ivr market

Global Conversational IVR Market: By Region

The North American segment is expected to witness the largest share in the global conversational IVR market during the forecast period of 2023-2028. The substantial market presence of the region can be attributed to its significant advancements across diverse industries, flourishing retail operations, and increased investments in research and development. Additionally, the region is experiencing a surge in demand driven by improved customer support services, technological advancements, and expanding applications in the healthcare sector. These factors contribute to the region's robust market share and highlight its potential for further growth and innovation.

Asia-Pacific is expected to grow the fastest during 2023-2028. Companies in the region are investing heavily in AI and machine learning technologies. The integration of chatbots and Intelligent Virtual Assistants (IVAs) with social networking sites is gaining increasing attention. Moreover, the region is experiencing a shift towards streamlined customer service operations with a focus on reducing human interaction. The banking and financial institutions in emerging countries of the region are rapidly adopting conversational IVR solutions, and the growing preference for digital banking further drives market growth in the forecast period.

Global Conversational IVR Market Share and Competitor Analysis

IBM, Microsoft Azure, Amazon, Google Cloud, Twilio, alphachat, Nuance, Ozonetel, RingCentral, Inc, and Office24x7, among others are some of the key players in the conversational IVR market.

Please note: This is not an exhaustive list of companies profiled in the report.

1          STRATEGIC INSIGHTS ON NEW REVENUE POCKETS

1.1    Strategic Opportunity & Attractiveness Analysis

1.1.1        Hot Revenue Pockets

1.1.2        Market Attractiveness Score

1.1.3        Revenue Impacting Opportunity

1.1.4        High Growing Region/Country

1.1.5        Competitor Analysis

1.1.6        Consumer Analysis

1.2    Global Market Estimates' View

1.3    Strategic Insights across Business Functions

1.3.1        For Chief Executive Officers

1.3.2        For Chief Marketing Officers

1.3.3        For Chief Strategy Officers

1.4    Evaluate the Potential of your Existing Business Lines vs. New Lines to Enter Into

2          TECHNOLOGICAL TRENDS

2.1   Technological Adoption Rate

2.2   Current Trend Impact Analysis

2.3   Future Trend Impact Analysis

2.4   Data Metrics on Feed Stocks

3          GLOBAL MARKET OUTLOOK

3.1   Market Pyramid Analysis

3.1.1        Introduction

3.1.2        Adjacent Market Opportunities

3.1.3        Ancillary Market Opportunities

3.2   Demand Side Analysis

3.2.1        Market Drivers: Impact Analysis

3.2.2        Market Restraints: Impact Analysis

3.2.3        Market Opportunities: Impact Analysis

3.2.4        Market Challenges: Impact Analysis

3.3       Supply Side Analysis

3.3.1        Porter’s Five Forces Analysis

3.3.1.1 Threat of New Entrants

3.3.1.2 Threat of New Substitutes

3.3.1.3 Bargaining Power of Suppliers

3.3.1.4 Bargaining Power of Buyers

3.3.1.5 Intensity of Competitive Rivalry

3.3.2        SWOT Analysis; By Factor (Political & Legal, Economic, and Technological)

3.3.2.1 Political Landscape

3.3.2.2 Economic Landscape

3.3.2.3 Social Landscape

3.3.2.4 Technology Landscape

3.3.3        Value Chain Analysis

3.3.4        Trend Analysis

3.3.5        Gap Analysis

3.3.6        Cost Analysis

4          GLOBAL CONVERSATIONAL IVR MARKET, BY APPLICATION

4.1   Introduction

4.2   Conversational IVR Market: Application Scope Key Takeaways

4.3   Revenue Growth Analysis, 2022 & 2028

4.4   Customer Support

4.4.1        Customer Support Market Estimates and Forecast, 2020-2028 (USD Million)

4.5   Personal Assistant

4.5.1        Personal Assistant Market Estimates and Forecast, 2020-2028 (USD Million)

4.6   Branding and Advertisement

4.6.1        Branding and Advertisement Market Estimates and Forecast, 2020-2028 (USD Million)

4.7   Customer Engaement and Retention

4.7.1           Customer Engaement and Retention Market Estimates and Forecast, 2020-2028 (USD Million)

4.8   Onboarding and Employee Engagement

4.8.1           Onboarding and Employee Engagement Market Estimates and Forecast, 2020-2028 (USD Million)

5          GLOBAL CONVERSATIONAL IVR MARKET, BY BUSINESS FUNCTION

5.1   Introduction

5.2   Conversational IVR Market: Business Function Scope Key Takeaways

5.3   Revenue Growth Analysis, 2022 & 2028

5.4   Information and Technology

5.4.1        Information and Technology Market Estimates and Forecast, 2020-2028 (USD Million)

5.5   Sales and Marketing

5.5.1        Sales and Marketing Market Estimates and Forecast, 2020-2028 (USD Million)

5.6   Operations and Supply Chain

5.6.1        Operations and Supply Chain Market Estimates and Forecast, 2020-2028 (USD Million)

5.7   Finance and Accounting

5.7.1        Finance and Accounting Market Estimates and Forecast, 2020-2028 (USD Million)

5.8   Human Resource

5.8.1        Human Resource Market Estimates and Forecast, 2020-2028 (USD Million)

6         GLOBAL CONVERSATIONAL IVR MARKET, BY TECHNOLOGY

6.1   Introduction

6.2   Conversational IVR Market: Technology Scope Key Takeaways

6.3   Revenue Growth Analysis, 2022 & 2028

6.4   NLP

6.4.1        NLP Market Estimates and Forecast, 2020-2028 (USD Million)

6.5   Machine and Deep Learning

6.5.1        Machine and Deep Learning Market Estimates and Forecast, 2020-2028 (USD Million)

6.6   ASR

6.6.1        ASR Market Estimates and Forecast, 2020-2028 (USD Million)

7         GLOBAL CONVERSATIONAL IVR MARKET, BY END-USER

7.1   Introduction

7.2   Conversational IVR Market: End-User Scope Key Takeaways

7.3   Revenue Growth Analysis, 2022 & 2028

7.4   BFSI

7.4.1        BFSI Market Estimates and Forecast, 2020-2028 (USD Million)

7.5   Retail and E-Commerce

7.5.1        Retail and E-Commerce Market Estimates and Forecast, 2020-2028 (USD Million)

7.6   Healthcare

7.6.1        Healthcare Market Estimates and Forecast, 2020-2028 (USD Million)

7.7   Travel and Hospitality

7.7.1        Travel and Hospitality Market Estimates and Forecast, 2020-2028 (USD Million)

7.8   Telecom

7.8.1        Telecom Market Estimates and Forecast, 2020-2028 (USD Million)

7.9   Media and Entertainment

7.9.1        Media and Entertainment Market Estimates and Forecast, 2020-2028 (USD Million)

8          GLOBAL CONVERSATIONAL IVR MARKET, BY REGION

8.1   Introduction

8.2   North America Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.2.1        By Application

8.2.2        By Business Function

8.2.3        By Technology

8.2.4        By End-User  

8.2.5        By Country

8.2.5.1     U.S. Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.2.5.1.1        By Application

8.2.5.1.2        By Business Function

8.2.5.1.3        By Technology

8.2.5.1.4        By End-User

8.2.5.2     Canada Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.2.5.2.1        By Application

8.2.5.2.2        By Business Function

8.2.5.2.3        By Technology

8.2.5.2.4        By End-User

8.2.5.3     Mexico Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.2.5.3.1        By Application

8.2.5.3.2        By Business Function

8.2.5.3.3        By Technology

8.2.5.3.4        By End-User

8.3   Europe Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.3.1        By Application

8.3.2        By Business Function

8.3.3        By Technology

8.3.4        By End-User  

8.3.5        By Country

8.3.5.1     Germany Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.3.5.1.1        By Application

8.3.5.1.2        By Business Function

8.3.5.1.3        By Technology

8.3.5.1.4        By End-User

8.3.5.2     U.K. Presered Flowers Market Estimates and Forecast, 2020-2028 (USD Million)

8.3.5.2.1        By Application

8.3.5.2.2        By Business Function

8.3.5.2.3        By Technology

8.3.5.2.4        By End-User

8.3.5.3     France Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.3.5.3.1        By Application

8.3.5.3.2        By Business Function

8.3.5.3.3        By Technology

8.3.5.3.4        By End-User

8.3.5.4     Italy Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.3.5.4.1        By Application

8.3.5.4.2        By Business Function

8.3.5.4.3        By Technology

8.3.5.4.4        By End-User

8.3.5.5     Spain Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.3.5.5.1        By Application

8.3.5.5.2        By Business Function

8.3.5.5.3        By Technology

8.3.5.5.4        By End-User

8.3.5.6     Netherlands Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.3.5.6.1        By Application

8.3.5.6.2        By Business Function

8.3.5.6.3        By Technology

8.3.5.6.4        By End-User

8.3.5.7     Rest of Europe Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.3.5.7.1        By Application

8.3.5.7.2        By Business Function

8.3.5.7.3        By Technology

8.3.5.7.4        By End-User

8.4   Asia Pacific Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.1        By Application

8.4.2        By Business Function

8.4.3        By Technology

8.4.4        By End-User  

8.4.5        By Country

8.4.5.1     China Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.1.1        By Application

8.4.5.1.2        By Business Function

8.4.5.1.3        By Technology

8.4.5.1.4        By End-User

8.4.5.2     Japan Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.2.1        By Application

8.4.5.2.2        By Business Function

8.4.5.2.3        By Technology

8.4.5.2.4        By End-User

8.4.5.3     India Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.3.1        By Application

8.4.5.3.2        By Business Function

8.4.5.3.3        By Technology

8.4.5.3.4        By End-User

8.4.5.4     South Korea Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.4.1        By Application

8.4.5.4.2        By Business Function

8.4.5.4.3        By Technology

8.4.5.4.4        By End-User

8.4.5.5     Singapore Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.5.1        By Application

8.4.5.5.2        By Business Function

8.4.5.5.3        By Technology

8.4.5.5.4        By End-User

8.4.5.6     Malaysia Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.6.1        By Application

8.4.5.6.2        By Business Function

8.4.5.6.3        By Technology

8.4.5.6.4        By End-User

8.4.5.7     Thailand Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.7.1        By Application

8.4.5.7.2        By Business Function

8.4.5.7.3        By Technology

8.4.5.7.4        By End-User

8.4.5.8     Indonesia Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.8.1        By Application

8.4.5.8.2        By Business Function

8.4.5.8.3        By Technology

8.4.5.8.4        By End-User

8.4.5.9     Vietnam Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.9.1        By Application

8.4.5.9.2        By Business Function

8.4.5.9.3        By Technology

8.4.5.9.4        By End-User

8.4.5.10  Taiwan Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.10.1      By Application

8.4.5.10.2      By Business Function

8.4.5.10.3      By Technology

8.4.5.10.4      By End-User

8.4.5.11  Rest of Asia Pacific Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.4.5.11.1      By Application

8.4.5.11.2      By Business Function

8.4.5.11.3      By Technology

8.4.5.11.4      By End-User

8.5   Middle East & Africa Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.5.1        By Application

8.5.2        By Business Function

8.5.3        By Technology

8.5.4        By End-User  

8.5.5        By Country

8.5.5.1     Saudi Arabia Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.5.5.1.1        By Application

8.5.5.1.2        By Business Function

8.5.5.1.3        By Technology

8.5.5.1.4        By End-User

8.5.5.2     U.A.E. Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.5.5.2.1        By Application

8.5.5.2.2        By Business Function

8.5.5.2.3        By Technology

8.5.5.2.4        By End-User

8.5.5.3     Israel Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.5.4.3.1        By Application

8.5.4.3.2        By Business Function

8.5.4.3.3        By Technology

8.5.5.3.4        By End-User

8.5.5.4     South Africa Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.5.5.4.1        By Application

8.5.5.4.2        By Business Function

8.5.5.4.3        By Technology

8.5.5.4.4        By End-User

8.5.5.5     Rest of Middle East & Africa Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.5.5.5.1        By Application

8.5.5.5.2        By Business Function

8.5.5.5.2        By Technology

8.5.5.5.4        By End-User

8.6   Central & South America Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.6.1        By Application

8.6.2        By Business Function

8.6.3        By Technology

8.6.4        By End-User

8.6.5        By Country

8.6.5.1     Brazil Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.6.5.1.1        By Application

8.6.5.1.2        By Business Function

8.6.5.1.3        By Technology

8.6.5.1.4        By End-User

8.6.5.2     Argentina Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.6.5.2.1        By Application

8.6.5.2.2        By Business Function

8.6.5.2.3        By Technology

8.6.5.2.4        By End-User

8.6.5.3     Chile Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.6.5.3.1        By Application

8.6.5.3.2        By Business Function

8.6.5.3.3        By Technology

8.6.5.5.4        By End-User

8.6.5.4     Rest of Central & South America Conversational IVR Market Estimates and Forecast, 2020-2028 (USD Million)

8.6.5.4.1        By Application

8.6.5.4.2        By Business Function

8.6.5.4.3        By Technology

8.6.5.4.4        By End-User

9          COMPETITIVE LANDCAPE

9.1   Company Market Share Analysis

9.2   Four Quadrant Positioning Matrix

9.2.1        Market Leaders

9.2.2        Market Visionaries

9.2.3        Market Challengers

9.2.4        Niche Market Players

9.3   Vendor Landscape

9.3.1        North America

9.3.2        Europe

9.3.3        Asia Pacific

9.3.4        Rest of the World

9.4   Company Profiles  

9.4.1        IBM

9.4.1.1 Business Description & Financial Analysis

9.4.1.2 SWOT Analysis

9.4.1.3 Products & Services Offered

9.4.1.4 Strategic Alliances between Business Partners

9.4.2        Microsoft Azure

9.4.2.1 Business Description & Financial Analysis

9.4.2.2 SWOT Analysis

9.4.2.3 Products & Services Offered

9.4.2.4 Strategic Alliances between Business Partners

9.4.3        Amazon

9.4.3.1 Business Description & Financial Analysis

9.4.3.2 SWOT Analysis

9.4.3.3 Products & Services Offered

9.4.3.4 Strategic Alliances between Business Partners

9.4.4        Google Cloud

9.4.4.1 Business Description & Financial Analysis

9.4.4.2 SWOT Analysis

9.4.4.3 Products & Services Offered

9.4.4.4 Strategic Alliances between Business Partners

9.4.5        Twilio

9.4.5.1 Business Description & Financial Analysis

9.4.5.2 SWOT Analysis

9.4.5.3 Products & Services Offered

9.4.5.4 Strategic Alliances between Business Partners

9.4.6        ALPHACHAT  

9.4.6.1 Business Description & Financial Analysis

9.4.6.2 SWOT Analysis

9.4.6.3 Products & Services Offered

9.4.6.4 Strategic Alliances between Business Partners

9.4.7        Nuance  

9.4.7.1 Business Description & Financial Analysis

9.4.7.2 SWOT Analysis

9.4.7.3 Products & Services Offered

9.4.8.4 Strategic Alliances between Business Partners

9.4.8        Ozonetel

9.4.8.1 Business Description & Financial Analysis

9.4.8.2 SWOT Analysis

9.4.8.3 Products & Services Offered

9.4.8.4 Strategic Alliances between Business Partners

9.4.9        RingCentral Inc.

9.4.9.1 Business Description & Financial Analysis

9.4.9.2 SWOT Analysis

9.4.9.3 Products & Services Offered

9.4.9.4 Strategic Alliances between Business Partners

9.4.10       Office24*7

9.4.10.1 Business Description & Financial Analysis

9.4.10.2 SWOT Analysis

9.4.10.3 Products & Services Offered

9.4.10.4 Strategic Alliances between Business Partners

9.4.11      Other Companies

9.4.11.1 Business Description & Financial Analysis

9.4.11.2 SWOT Analysis

9.4.11.3 Products & Services Offered

9.4.11.4 Strategic Alliances between Business Partners

10        RESEARCH METHODOLOGY

10.1 Market Introduction

10.1.1      Market Definition

10.1.2      Market Scope & Segmentation

10.2 Information Procurement

10.2.1      Secondary Research

10.2.1.1           Purchased Databases

10.2.1.2           GMEs Internal Data Repository

10.2.1.3           Secondary Resources & Third Party Perspectives

10.2.1.4           Company Information Sources

10.2.2      Primary Research

10.2.2.1           Various Business Function of Respondents for Primary Interviews

10.2.2.2           Number of Interviews Conducted throughout the Research Process

10.2.2.3           Primary Stakeholders

10.2.2.4           Discussion Guide for Primary Participants

10.2.3      Expert Panels

10.2.3.1           Expert Panels Across 30+ Industry

10.2.4      Paid Local Experts

10.2.4.1           Paid Local Experts Across 30+ Industry Across each Region

10.3 Market Estimation

10.3.1      Top-Down Approach

10.3.1.1           Macro-Economic Indicators Considered

10.3.1.2           Micro-Economic Indicators Considered

10.3.2      Bottom Up Approach

10.3.2.1           Company Share Analysis Approach

10.3.2.2           Estimation of Potential Product Sales

10.4 Data Triangulation

10.4.1      Data Collection

10.4.2      Time Series, Cross Sectional & Panel Data Analysis

10.4.3      Cluster Analysis

10.5 Analysis and Output

10.5.1      Inhouse AI Based Real Time Analytics Tool

10.5.2      Output From Desk & Primary Research

10.6 Research Assumptions & Limitations

10.7.1      Research Assumptions

10.7.2      Research Limitations

LIST OF TABLES

1 GLOBAL CONVERSATIONAL IVR Market, By Application, 2020-2028 (USD Mllion)

2 Customer Support Market, By Region, 2020-2028 (USD Mllion)      

3 Personal Assistant Market, By Region, 2020-2028 (USD Mllion)    

4 Branding and Advertisement Market, By Region, 2020-2028 (USD Mllion)               

5 Customer Engaement and Retention Market, By Region, 2020-2028 (USD Mllion)

6 Onboarding and Employee Engagement Market, By Region, 2020-2028 (USD Mllion)

7 Others Market, By Region, 2020-2028 (USD Mllion)

8 GLOBAL CONVERSATIONAL IVR Market, By Business Function, 2020-2028 (USD Mllion)

9 Information and Technology Market, By Region, 2020-2028 (USD Mllion)              

10 Sales and Marketing Market, By Region, 2020-2028 (USD Mllion)

11 Operations and supply chain Market, By Region, 2020-2028 (USD Mllion)

12 Finance and accounting Market, By Region, 2020-2028 (USD Mllion)

13 Human resource Market, By Region, 2020-2028 (USD Mllion)

14 GLOBAL CONVERSATIONAL IVR Market, By Technology, 2020-2028 (USD Mllion)

15 NLP Market, By Region, 2020-2028 (USD Mllion)        

16 machine and deep learning Market, By Region, 2020-2028 (USD Mllion)   

17 asr Market, By Region, 2020-2028 (USD Mllion)

18 GLOBAL CONVERSATIONAL IVR Market, By END-USER, 2020-2028 (USD Mllion)

19 BFSI Market, By Region, 2020-2028 (USD Mllion)      

20 Retail and E-Commerce Market, By Region, 2020-2028 (USD Mllion)             

21 healthcare Market, By Region, 2020-2028 (USD Mllion)

22 travel and hospitality Market, By Region, 2020-2028 (USD Mllion)

23 telecom Market, By Region, 2020-2028 (USD Mllion)

24 media and entertainment Market, By Region, 2020-2028 (USD Mllion)

25 Regional Analysis, 2020-2028 (USD Mllion)

26 North America Conversational IVR Market, By Application, 2020-2028 (USD Million)

27 North America Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

28 North America Conversational IVR Market, By Technology, 2020-2028 (USD Million)

29 North America Conversational IVR Market, By End-User, 2020-2028 (USD Million)

30 North America Conversational IVR Market, By Country, 2020-2028 (USD Million)

31 U.S Conversational IVR Market, By Application, 2020-2028 (USD Million)

32 U.S Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

33 U.S Conversational IVR Market, By Technology, 2020-2028 (USD Million)

34 U.S Conversational IVR Market, By End-User, 2020-2028 (USD Million)

35 Canada Conversational IVR Market, By Application, 2020-2028 (USD Million)

36 Canada Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

37 Canada Conversational IVR Market, By Technology, 2020-2028 (USD Million)

38 CANADA Conversational IVR Market, By End-User, 2020-2028 (USD Million)

39 Mexico Conversational IVR Market, By Application, 2020-2028 (USD Million)

40 Mexico Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

41 Mexico Conversational IVR Market, By Technology, 2020-2028 (USD Million)

42 mexico Conversational IVR Market, By End-User, 2020-2028 (USD Million)

43 Europe Conversational IVR Market, By Application, 2020-2028 (USD Million)

44 Europe Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

45 Europe Conversational IVR Market, By Technology, 2020-2028 (USD Million)

46 europe Conversational IVR Market, By End-User, 2020-2028 (USD Million)

47 Germany Conversational IVR Market, By Application, 2020-2028 (USD Million)

48 Germany Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

49 Germany Conversational IVR Market, By Technology, 2020-2028 (USD Million)

50 germany Conversational IVR Market, By End-User, 2020-2028 (USD Million)

51 UK Conversational IVR Market, By Application, 2020-2028 (USD Million)

52 UK Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

53 UK Conversational IVR Market, By Technology, 2020-2028 (USD Million)

54 Uk Conversational IVR Market, By End-User, 2020-2028 (USD Million)

55 France Conversational IVR Market, By Application, 2020-2028 (USD Million)

56 France Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

57 France Conversational IVR Market, By Technology, 2020-2028 (USD Million)

58 france Conversational IVR Market, By End-User, 2020-2028 (USD Million)

59 Italy Conversational IVR Market, By Application, 2020-2028 (USD Million)

60 Italy Conversational IVR Market, By T Business Function Type, 2020-2028 (USD Million)

61 Italy Conversational IVR Market, By Technology, 2020-2028 (USD Million)

62 italy Conversational IVR Market, By End-User, 2020-2028 (USD Million)

63 Spain Conversational IVR Market, By Application, 2020-2028 (USD Million)

64 Spain Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

65 Spain Conversational IVR Market, By Technology, 2020-2028 (USD Million)

66 spain Conversational IVR Market, By End-User, 2020-2028 (USD Million)

67 Rest Of Europe Conversational IVR Market, By Application, 2020-2028 (USD Million)

68 Rest Of Europe Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

69 Rest of Europe Conversational IVR Market, By Technology, 2020-2028 (USD Million)

70 REST OF EUROPE Conversational IVR Market, By End-User, 2020-2028 (USD Million)

71 Asia Pacific Conversational IVR Market, By Application, 2020-2028 (USD Million)

72 Asia Pacific Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

73 Asia Pacific Conversational IVR Market, By Technology, 2020-2028 (USD Million)

74 asia Conversational IVR Market, By End-User, 2020-2028 (USD Million)

75 Asia Pacific Conversational IVR Market, By Country, 2020-2028 (USD Million)

76 China Conversational IVR Market, By Application, 2020-2028 (USD Million)

77 China Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

78 China Conversational IVR Market, By Technology, 2020-2028 (USD Million)

79 china Conversational IVR Market, By End-User, 2020-2028 (USD Million)

80 India Conversational IVR Market, By Application, 2020-2028 (USD Million)

81 India Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

82 India Conversational IVR Market, By Technology, 2020-2028 (USD Million)

83 india Conversational IVR Market, By End-User, 2020-2028 (USD Million)

84 Japan Conversational IVR Market, By Application, 2020-2028 (USD Million)

85 Japan Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

86 Japan Conversational IVR Market, By Technology, 2020-2028 (USD Million)

87 japan Conversational IVR Market, By End-User, 2020-2028 (USD Million)

88 South Korea Conversational IVR Market, By Application, 2020-2028 (USD Million)

89 South Korea Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

90 South Korea Conversational IVR Market, By Technology, 2020-2028 (USD Million)

91 south korea Conversational IVR Market, By End-User, 2020-2028 (USD Million)

92 Middle East & Africa Conversational IVR Market, By Application, 2020-2028 (USD Million)

93 Middle East & Africa Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

94 Middle East & Africa Conversational IVR Market, By Technology, 2020-2028 (USD Million)

95 MIDDLE EAST & AFRICA Conversational IVR Market, By End-User, 2020-2028 (USD Million)

96 Middle East & Africa Conversational IVR Market, By Country, 2020-2028 (USD Million)

97 Saudi Arabia Conversational IVR Market, By Application, 2020-2028 (USD Million)

98 Saudi Arabia Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

99 Saudi Arabia Conversational IVR Market, By Technology, 2020-2028 (USD Million)

100 saudi arabia Conversational IVR Market, By End-User, 2020-2028 (USD Million)

101 UAE Conversational IVR Market, By Application, 2020-2028 (USD Million)

102 UAE Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

103 UAE Conversational IVR Market, By Technology, 2020-2028 (USD Million)

104 uae Conversational IVR Market, By End-User, 2020-2028 (USD Million)

105 Central & South America Conversational IVR Market, By Application, 2020-2028 (USD Million)

106 Central & South America Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

107 Central & South America Conversational IVR Market, By Technology, 2020-2028 (USD Million)

108 CENTRAL & SOUTH AMERICA Conversational IVR Market, By End-User, 2020-2028 (USD Million)

109 Central & South America Conversational IVR Market, By Country, 2020-2028 (USD Million)

110 Brazil Conversational IVR Market, By Application, 2020-2028 (USD Million)

111 Brazil Conversational IVR Market, By Business Function, 2020-2028 (USD Million)

112 Brazil Conversational IVR Market, By Technology, 2020-2028 (USD Million)

113 brazil Conversational IVR Market, By End-User, 2020-2028 (USD Million)

114 IBM: Products & Services Offering

115 Microsoft Azure: Products & Services Offering    

116 Amazon: Products & Services Offering        

117 Google Cloud: Products & Services Offering          

118 Twilio: Products & Services Offering            

119 ALPHACHAT: Products & Services Offering  

120 Nuance : Products & Services Offering        

121 Ozonetel: Products & Services Offering     

122 RingCentral Inc., Inc: Products & Services Offering           

123  Office24*7: Products & Services Offering

124 Other Companies: Products & Services Offering    

LIST OF FIGURES

1 Global Conversational IVR Market Overview

2 Global Conversational IVR Market Value From 2020-2028 (USD Mllion)

3 Global Conversational IVR Market Share, By Application (2022)

4 Global Conversational IVR Market Share, By Business Function (2022)

5 Global Conversational IVR Market Share, By Technology (2022)

6 Global Conversational IVR Market Share, By End-User (2022)

7 Global Conversational IVR Market, By Region (Asia Pacific Market)

8 Technological Trends In Global Conversational IVR Market

9 Four Quadrant Competitor Positioning Matrix

10 Impact Of Macro & Micro Indicators On The Market

11 Impact Of Key Drivers On The Global Conversational IVR Market

12 Impact Of Challenges On The Global Conversational IVR Market

13 Porter’s Five Forces Analysis

14 Global Conversational IVR Market: By Application Scope Key Takeaways

15 Global Conversational IVR Market, By Application Segment: Revenue Growth Analysis

16 Customer Support Market, By Region, 2020-2028 (USD Mllion)       

17 Personal Assistant Market, By Region, 2020-2028 (USD Mllion)

18 Branding and Advertisement Market, By Region, 2020-2028 (USD Mllion)

19 Customer Engaement and Retention Market, By Region, 2020-2028 (USD Mllion)

20 Onboarding and Employee Engagement Market, By Region, 2020-2028 (USD Mllion)

21 Others Market, By Region, 2020-2028 (USD Mllion)

22 Global Conversational IVR Market: By Business Function Scope Key Takeaways

23 Global Conversational IVR Market, By Business Function Segment: Revenue Growth Analysis

24 Information and Technology Market, By Region, 2020-2028 (USD Mllion)

25 Sales and Marketing Market, By Region, 2020-2028 (USD Mllion)

26 Operations And Supply Chain Market, By Region, 2020-2028 (USD Mllion)

27 Finance And Accounting Market, By Region, 2020-2028 (USD Mllion)

28 Human Resource Market, By Region, 2020-2028 (USD Mllion)

29 Global Conversational IVR Market: By Technology Scope Key Takeaways

30 Global Conversational IVR Market, By Technology Segment: Revenue Growth Analysis

31 NLP Market, By Region, 2020-2028 (USD Mllion)        

32 Machine and Deep Learning Market, By Region, 2020-2028 (USD Mllion)

33 ASR Market, By Region, 2020-2028 (USD Mllion)

34 Global Conversational IVR Market: By End-User Scope Key Takeaways

35 Global Conversational IVR Market, By End-User Segment: Revenue Growth Analysis

36 BFSI Market, By Region, 2020-2028 (USD Mllion)       

37 Retail and E-Commerce Market, By Region, 2020-2028 (USD Mllion)

38 Healthcare Market, By Region, 2020-2028 (USD Mllion)

39 Travel and Hospitality Market, By Region, 2020-2028 (USD Mllion)

40 Telecom Market, By Region, 2020-2028 (USD Mllion)

41 Media and Entertainment Market, By Region, 2020-2028 (USD Mllion)

42 Regional Segment: Revenue Growth Analysis

43 Global Conversational IVR Market: Regional Analysis

44 North America Conversational IVR Market Overview

45 North America Conversational IVR Market, By Application

46 North America Conversational IVR Market, By Business Function

47 North America Conversational IVR Market, By Technology

48 North America Conversational IVR Market, By End-User

49 North America Conversational IVR Market, By Country

50 U.S. Conversational IVR Market, By Application

51 U.S. Conversational IVR Market, By Business Function

52 U.S. Conversational IVR Market, By Technology

53 U.S. Conversational IVR Market, By End-User

54 Canada Conversational IVR Market, By Application

55 Canada Conversational IVR Market, By Business Function

56 Canada Conversational IVR Market, By Technology

57 Canada Conversational IVR Market, By End-User

58 Mexico Conversational IVR Market, By Application

59 Mexico Conversational IVR Market, By Business Function

60 Mexico Conversational IVR Market, By Technology

61 Mexico Conversational IVR Market, By End-User

62 Four Quadrant Positioning Matrix

63 Company Market Share Analysis

64 IBM: Company Snapshot

65 IBM: SWOT Analysis

66 IBM: Geographic Presence

67 Microsoft Azure: Company Snapshot

68 Microsoft Azure: SWOT Analysis

69 Microsoft Azure: Geographic Presence

70 Amazon: Company Snapshot

71 Amazon: SWOT Analysis

72 Amazon: Geographic Presence

73 Google Cloud: Company Snapshot

74 Google Cloud: Swot Analysis

75 Google Cloud: Geographic Presence

76 Twilio: Company Snapshot

77 Twilio: SWOT Analysis

78 Twilio: Geographic Presence

79 ALPHACHAT: Company Snapshot

80 ALPHACHAT: SWOT Analysis

81 ALPHACHAT: Geographic Presence

82 Nuance : Company Snapshot

83 Nuance : SWOT Analysis

84 Nuance : Geographic Presence

85 Ozonetel: Company Snapshot

86 Ozonetel: SWOT Analysis

87 Ozonetel: Geographic Presence

88 RingCentral Inc., Inc.: Company Snapshot

89 RingCentral Inc., Inc.: SWOT Analysis

90 RingCentral Inc., Inc.: Geographic Presence

91  Office24*7: Company Snapshot

92  Office24*7: SWOT Analysis

93  Office24*7: Geographic Presence

94 Other Companies: Company Snapshot

95 Other Companies: SWOT Analysis

96 Other Companies: Geographic Presence

The Global Conversational IVR Market has been studied from the year 2019 till 2028. However, the CAGR provided in the report is from the year 2023 to 2028. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Conversational IVR Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

The global conversational IVR market is projected to grow at a CAGR of 7.7% from 2023 to 2028.
IBM, Microsoft Azure, Amazon, Google Cloud, Twilio, alphachat, Nuance, Ozonetel, RingCentral, Inc, and Office24x7, among others are some of the key players in the market.
The global conversational IVR market offers significant opportunities for businesses. With the growing adoption of AI and NLP technologies, there is a chance to enhance customer experiences through personalized interactions. The demand for efficient self-service options and automation in customer service creates opportunities for businesses to streamline their operations and reduce costs. Additionally, the increasing preference for omnichannel engagement opens avenues for integrating conversational IVR across multiple platforms and channels, providing seamless customer experiences and improving overall customer satisfaction.
Conversational IVR market growth is driven by factors such as increased demand for personalized customer experiences, advancements in AI and NLP technologies, emphasis on self-service and automation, and the preference for omnichannel engagement, resulting in cost reduction and improved operational efficiency.

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