USD 1.71 billion
Global Call Center AI Market Size, Share, Growth Analysis, By Technology Type(Natural Language Processing (NLP), Automatic Speech Recognition (ASR)), By Deployment Type(Cloud-based, On-premises), By Services(Professional Services, Managed Services), By Application Type(Virtual Assistants, Chatbots), By Vertical Type(BFSI (Banking, Financial Services) - Industry Forecast 2024-2031
Report ID:
SQMIG50B2014 |
Region:
Global |
Published Date: March, 2024
Pages:
177
|
Tables:
148 |
Figures:
78
Global Call Center AI Market Insights
Global Call Center AI Market size was valued at USD 1.71 billion in 2022 and is poised to grow from USD 2.11 billion in 2023 to USD 11.12 billion by 2031, growing at a CAGR of 23.12% during the forecast period (2024-2031).
The growing desire for enhanced data analytical skills to respond to client enquiries in real-time and promote consumer interaction via social media will drive market demand for call center artificial intelligence (AI). Some of the most popular AI applications in the call center software market include predictive call routing, interactive voice response (IVR), call analytics, emotional intelligence, and conversational AI. Call centers can use artificial intelligence-based chatbots to connect with clients on social media sites. This allows users to contact call center workers at their leisure and receive appropriate replies to their questions from AI models.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Natural Language Processing (NLP),
Fastest Growth
Natural Language Processing (NLP),
Growth Rate
23.12% CAGR
Global Call Center AI Market ($ Bn)
Country Share for North America Region (%)
Global Call Center AI Market By Technology Type ($ Bn)
Global Call Center AI Market By Technology Type(%)
To get more reports on the above market click here to Buy The Report
Global Call Center AI Market Segmental Analysis
The Call Center AI Market is segmented by technology, deployment, services, application vertical, and region. Based on the technology type, the market is segmented into natural language processing (NLP), automatic speech recognition (ASR), text-to-speech (TTS), machine learning (ML) and deep learning (DP). Based on services, the market is segmented into professional services, managed services. Based on application, the market is segmented into virtual assistants, chatbots, voicebots, intelligent interactive voice response (IVR) systems. Based on vertical type, the market is segmented into BFSI (banking, financial services, and insurance), retail and e-commerce, healthcare, telecom and IT, travel and hospitality. Based on region, the market is segmented into North America, Latin America, Europe, and MEA.
Analysis by Application Type
Chatbots are widely adopted in call centers across various industries due to their ability to handle a large volume of customer inquiries efficiently. They provide automated responses, real-time assistance, and personalized interactions, thereby improving customer engagement and reducing the workload on human agents. The chatbot segment is expected to witness substantial growth due to the increasing demand for self-service options, cost-effectiveness, and improved customer experiences.
Analysis by Technology Type
As a fastest growing segment, NLP plays a crucial role in call center AI solutions by enabling machines to understand and process human language. It helps in analyzing customer queries, extracting relevant information, and providing accurate responses. As businesses strive to enhance customer interactions and deliver personalized experiences, the NLP segment is expected to witness significant growth. NLP's ability to understand context, sentiment, and intent contributes to improved customer satisfaction and efficient call center operations.
Global Call Center AI By Technology Type, 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Call Center AI Market Regional Insights
North America is considered the largest market region in the global call center AI market. North American businesses have been proactive in implementing AI-powered call center solutions to improve efficiency, streamline operations, and deliver superior customer service. Additionally, the region's robust technological infrastructure and high consumer expectations have further fueled the demand for call center AI solutions, making North America the largest market region.
Asia Pacific is anticipated to be the fastest growing region in the global call center AI market. The region's rapid growth can be attributed to factors such as the increasing adoption of AI technologies across various industries, growing customer expectations for personalized experiences, and the expanding business process outsourcing (BPO) sector. Countries like China, India, and Southeast Asian nations are witnessing significant investments in call center AI solutions, driven by the need for cost-effective customer service, scalable solutions, and regional market expansion.
Global Call Center AI Market By Region, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Call Center AI Market Dynamics
Drivers
Increasing Demand for Enhanced Customer Experiences to Bolster sales
- Businesses across industries are recognizing the importance of delivering exceptional customer experiences to gain a competitive edge. Call center AI solutions enable personalized interactions, quick query resolution, and 24/7 support, thereby enhancing customer satisfaction and loyalty. The demand for AI-powered technologies, such as chatbots and virtual assistants, is driven by the need to provide seamless, efficient, and personalized customer service experiences.
- Call center AI solutions offer cost-saving benefits by automating routine tasks, reducing the reliance on human agents, and improving operational efficiency. AI-powered systems can handle a high volume of inquiries simultaneously, reducing call waiting times and optimizing resource allocation. By automating repetitive tasks, businesses can allocate their human workforce to handle complex customer queries, leading to higher productivity and cost savings in the long run.
Restraints
Data Privacy and Security Concerns to Hinder market growth
- The use of AI in call centers involves the collection and processing of large amounts of customer data. This raises concerns about data privacy and security. Organizations must ensure that robust data protection measures are in place to safeguard customer information and comply with data privacy regulations. Any breach of customer data can damage customer trust, reputation, and lead to legal repercussions.
- Integrating AI technologies into existing call center infrastructure can be complex and challenging. Legacy systems may not be compatible with AI solutions, requiring significant investment in infrastructure upgrades and integration efforts. Additionally, resistance to change from employees and the need for training and upskilling can pose hurdles to the successful implementation of call center AI solutions.
Request Free Customization of this report to help us to meet your business objectives.
Global Call Center AI Market Competitive Landscape
The Global Call Center AI Market is highly competitive, with several players vying for a significant market share. The leading companies in the Media, Communication and service market are investing heavily in research and development to stay ahead of the competition and offer innovative solutions to their customers. Some of the major players in the market have a global presence. They are also focused on expanding their product portfolio and enhancing their distribution networks to better serve their customers.
Top Player’s Company Profiles
- Google LLC (US)
- Nuance Communications, Inc. (US)
- SAP SE (Germany)
- Oracle Corporation (US)
- Salesforce.com, Inc. (US)
- Avaya Holdings Corp. (US)
- Genesys Telecommunications Laboratories, Inc. (US)
- Cisco Systems, Inc. (US)
- Five9, Inc. (US)
- NICE Ltd. (Israel)
- Aspect Software, Inc. (US)
- Verint Systems Inc. (US)
- Artificial Solutions International AB (Sweden)
- Haptik, Inc. (US)
- Inbenta Technologies Inc. (US)
- [24]7.ai, Inc. (US)
- Cognigy GmbH (Germany)
Recent Developments
- In May 2023, Zoom announced partnership with Anthropic for AI call center services, according to Zoom’s announcement, is to let AI assist call center workers in understanding a given caller’s intent. The system should be able to surface helpful information quickly.
- In April 2023, UJET, Inc., the intelligent, modern contact center platform, announced a new, strategic partnership with Alvaria and Google Cloud. The partnership enables enterprise contact centers to integrate and leverage Alvaria’s compliant outbound and workforce engagement management (WEM) capabilities through Google Cloud Contact Center AI Platform.
Global Call Center AI Key Market Trends
- Adoption of Omnichannel Customer Engagement: With the increasing use of multiple communication channels such as phone calls, emails, chat, social media, and messaging apps, businesses are focusing on delivering a seamless omnichannel customer experience. Call center AI solutions are being integrated with various communication channels to provide consistent and personalized interactions across touchpoints. This trend enables customers to switch between channels while maintaining context and receiving consistent support.
- Integration of AI with Advanced Analytics and Insights: Call center AI solutions are increasingly being integrated with advanced analytics and insights capabilities to extract valuable information from customer interactions. AI algorithms analyze data from various sources, including voice conversations, chat logs, and customer feedback, to derive actionable insights. These insights help businesses identify patterns, trends, and customer preferences, enabling them to make data-driven decisions, optimize operations, and enhance customer experiences.
Global Call Center AI Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, The Call Center AI Market is experiencing significant growth and is projected to continue its upward trajectory in the coming years. The future of AI call centers and chatbots is poised for remarkable growth and transformation. As technology continues to advance and customer expectations evolve, AI-powered solutions are set to play a pivotal role in shaping the customer service landscape. Among the various segments in the call center AI market, chatbots have emerged as the most popular and widely adopted solution. Chatbots are revolutionizing customer interactions by providing automated and personalized support across multiple channels. With the advancements in natural language processing (NLP) and machine learning (ML), chatbots can understand and respond to customer queries in a human-like manner, delivering quick and accurate assistance. The ability of chatbots to handle a large volume of inquiries simultaneously, 24/7 availability, and consistent service delivery make them highly valuable for businesses. the future of AI call centers and chatbots holds tremendous potential. One key aspect is the integration of chatbots with advanced technologies such as natural language understanding, sentiment analysis, and machine learning algorithms.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.71 billion |
| Market size value in 2031 | USD 11.12 billion |
| Growth Rate | 23.12% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Call Center AI Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Call Center AI Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Call Center AI Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Call Center AI Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Call Center AI Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Call Center AI Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Call Center AI Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
