The Worldwide Call Center AI Industry is Expected to Reach $4.1 Billion by 2027 – Yahoo Finance

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Global Call Centre AI Market

Global Call Centre AI Market

Dublin, Oct. 13, 2022 (GLOBE NEWSWIRE) -- The "Call Center AI Market with Covid-19 Impact Analysis, By Component, Mode of Channel (Phone, Social Media, & Chat), Application (Workforce Optimization & Predictive Call Routing), Deployment Mode, Vertical and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global Call Center AI Market size is to grow from USD 1.6 billion in 2022 to USD 4.1 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 21.3% during the forecast period.

The services segment is projected to grow at a higher CAGR during the forecast period

The services segment is projected to grow at a higher CAGR during the forecast period. This can be attributed to the need for determining the time and cost required to install the solution that requires fully managed call center AI services. Call center AI solutions ensure the strengthening of customer relationships, resulting in increased first call resolution rate and improved customer experience.The large enterprises' segment will hold the larger market share during the forecast period

The large enterprise segment is estimated to hold a larger market share in 2022. Large enterprises focus on solutions to effectively manage complex business processes to enhance customer engagement. Hence, these organizations are using call center AI solutions to effectively manage complex operations. The SMEs segment is projected to register a higher CAGR during the forecast period due to the growing need to enhance business processes, reach new customers, stay competitive and control their spending.

The social media segment is to grow at the highest CAGR during the forecast period

The social media segment is estimated to grow at the highest CAGR during the forecast period due to the rising demand for social media used in sentiment analysis that helps understand customer perceptions about the brand. It also helps amplify customer service quickly through shares and likes. The phone mode of the channel is expected to hold the largest share in 2022 due to the rising penetration of smartphone users across the globe.The cloud segment is expected to hold larger market size during the forecast period

The cloud segment is expected to hold larger market size during the forecast period. The cloud technology benefit of easy deployment and minimal capital requirement facilitates the adoption of the cloud deployment model. The increasing demand for scalable, easy-to-use, and cost-effective solutions is expected to boost the demand of cloud-based call center AI in the market. Call Center AI solutions are expected to accelerate the growth of the cloud segment in the call center AI market. Moreover, cloud-based call center AI solutions enable business operations to improve employee productivity and save OPEX. Hence, the cloud-based deployment model is gaining traction in the coming years.The predictive call routing segment is expected to have the highest CAGR during the forecast period

The predictive call routing segment is expected to have the highest CAGR during the forecast period. The predictive call routing application ensures the highest possibility of first contact resolution (FCR) and prevents overburdening agents by adapting to their existing call queue in the call center AI market.The BFSI segment is expected to hold the largest market size during the forecast period

The BFSI segment is projected to hold the largest market size during the forecast period. The growth of this vertical is attributed to the increased adoption of call center AI solutions by financial institutions, which helps them flawlessly connect with customers, improve customer experience, and lowers customer churn. The growth of the segment is attributed to the rising need to protect businesses from costly regulatory litigations and reputational risks due to fraudulent activities while storing and managing customer information and serving customers.Among regions, APAC holds the highest CAGR during the forecast period

The market in the Asia Pacific is expected to grow at the highest CAGR during the forecast period due to the increasing penetration of advanced technologies, rising GDP of countries, and high density of contact center outsourcing operations. Asia Pacific consists of emerging economies, such as China, Japan, and India, where call center AI solutions are being deployed at a large scale due to the presence of a lot of data centers and a high density of BPO operations. Moreover, the demand for cloud-based call center AI solutions by business enterprises is expected to enhance the customer experience in the region.

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Premium Insights

5. Market Overview and Industry Trends5.1 Introduction5.2 Market Dynamics5.2.1 Drivers5.2.1.1 Advent of AI in Call Center to Offer Enhanced Customer Support Services and Better Experience5.2.1.2 Rising Development in Customer Engagement Through Social Media Platforms5.2.1.3 Increased Data Generation5.2.2 Restraints5.2.2.1 Unsupervised Learning5.2.3 Opportunities5.2.3.1 Advancements in AI and Ml to Facilitate Real-Time Actionable Insights5.2.3.2 Integration of Gesture Recognition with AI-Based Chatbots and Ivas5.2.4 Challenges5.2.4.1 Data Privacy and Security Concerns During Pandemic5.2.4.2 Lack of Skilled Workforce to Articulate Business Operations5.2.4.3 Preference for Online Chat Over Chatbots5.2.4.4 Slow Digitization Across Emerging Economies5.2.5 Cumulative Growth Analysis5.3 Industry Trends5.3.1 Call Center AI Market: Evolution5.3.2 Ecosystem5.3.3 Supply Chain Analysis5.3.4 Market: COVID-19 Impact5.3.5 Trends/Disruptions Impacting Buyers/Clients of Market5.3.6 Case Study Analysis5.3.6.1 Citibot Used Amazon Lex to Build Conversational Interfaces for Text and Voice Applications5.3.6.2 Osu University Used Amazon Connect and Qnabot to Provide Seamless Experience Across Voice and Chat for Customers and Agents5.3.6.3 Oscar Health Chose Cxone Workforce Management Enterprise to Minimize Administrative Burden and Focus on Scheduling and Forecasting5.3.6.4 Pldt Turned to Oracle Digital Assistant Running on Oracle Cloud Infrastructure to Power Its Self-Service Chatbot5.3.6.5 Echo Chose Oracle Digital Assistant to Help Improve Customer Experience5.3.6.6 Firefly Health Switched to Dialpad to Get New Information Quickly5.3.6.7 Solarzero Used Dialpad to Have a Modern Phone System That is Highly Reliable and Does Not Drop Calls5.3.6.8 Standard Chartered Used Avaya Onecloud to Achieve Personalized and Consistent Client Service5.3.6.9 Preferred Home Care Used Avaya Cloud Office to be Able to Reach Patients During an Outage or Other Crisis5.3.6.10 Vodafone Selected Amazon Connect to Simplify Contact Center Operations by Drawing on AI and Ml5.3.7 Technology Analysis5.3.8 Patent Analysis5.3.9 Pricing Model Analysis, 20215.3.10 Porter's Five Forces Analysis5.3.11 Scenario5.4 Regulatory Implications5.5 Key Stakeholders and Buying Criteria5.6 Key Conferences & Events in 2022-20235.7 Regulatory Landscape

6. Call Center AI Market, by Component6.1 Introduction6.1.1 Call Center AI: COVID-19 Impact6.2 Solutions6.2.1 Platform6.2.1.1 Rising Demand for AI in Call Centers to Enhance Agent Performance and Enable Customers6.2.2 Software Tools6.2.2.1 Call Center AI Software Helps in Deeper Understanding of Customers Across Different Contexts and Channel Modes6.3 Services6.3.1 Professional Services6.3.1.1 Training & Consulting Services6.3.1.1.1 Training and Consulting Services Help in Initial Phase of Implementing Call Center AI6.3.1.2 Support & Maintenance6.3.1.2.1 Support & Maintenance Services Help Organizations Understand Changing Business Conditions and Market Trends6.3.1.3 System Integration & Implementation Services6.3.1.3.1 System Integration & Deployment Services Facilitate Integration of Devices and Software and Their Deployment6.3.2 Managed Services6.3.2.1 Enterprises Must Ensure Provision of Certain Services for Their Clients to Maintain Their Market Position

7. Call Center AI Market, by Organization Size7.1 Introduction7.2 Large Enterprises7.2.1 Focus on Solutions to Effectively Manage Complex Business Processes to Enhance Customer Engagement7.3 Small and Medium-Sized Enterprises7.3.1 Reduced Operational Costs, Government Support, and Enhanced It Infrastructure to Influence Adoption of Call Center AI Solutions

8. Call Center AI Market, by Mode of Channel8.1 Introduction8.2 Phone8.2.1 Phone to be the Most-Used Customer Service Channel to Help Customers Get Quick Resolution for Their Queries8.3 Social Media8.3.1 Customers Use Social Media Platforms to Highlight Positive or Negative Experiences They Have Had with Brands8.4 Chat8.4.1 Chat-Based Call Center AI Software Tools to Improve Response Time and Lower Operational Costs in Long Run8.5 Email or Text8.5.1 Versatile Website Engagement Tool to Communicate Personal Correspondence and One-On-One Conversations8.6 Website8.6.1 Website Chat to be Most Cost-Effective Channel to Support Multiple Customers at One Time

9. Call Center AI Market Size, by Deployment Mode9.1 Introduction9.2 Cloud9.2.1 Cloud-Based Call Center AI Solutions to Gain Traction due to Their Cost-Effectiveness and Global Availability9.3 On-Premises9.3.1 Data Privacy Concerns and Increasing It Infrastructure Costs to Drive Growth of On-Premises Deployment Mode

10. Call Center AI Market, by Application10.1 Introduction10.2 Workforce Optimization10.2.1 Workforce Optimization to Modernize Call Center Technologies and Platforms10.3 Predictive Call Routing10.3.1 Predictive Call Routing to Use Artificial Intelligence-Based Call Center Techniques and Analytics10.4 Journey Orchestration10.4.1 Journey Orchestration to Provide Holistic View of Customer Interactions with Organization10.5 Agent Performance Management10.5.1 Growing Need to Manage and Handle Agent Performance to Drive Market Growth10.6 Sentiment Analysis10.6.1 Rising Need to Automate Contact Center Processes and Gain Customer Insights to Boost Call Center AI Growth10.7 Appointment Scheduling10.7.1 Need to Automate Multiple Tasks and Enhance Personalized Customer Experience to Drive Market Growth10.8 Other Applications

11. Call Center AI Market, by Vertical11.1 Introduction11.2 Banking, Financial Services, & Insurance11.3 Media & Entertainment11.4 Retail & Ecommerce11.5 Healthcare & Life Sciences11.6 Travel & Hospitality11.7 It & Telecom11.8 Transportation & Logistics11.9 Other Verticals

12. Call Center AI Market, by Region

13. Competitive Landscape

14. Company Profiles14.1 Introduction14.2 Key Players14.2.1 IBM14.2.2 Microsoft14.2.3 Oracle14.2.4 Aws14.2.5 Google14.2.6 Sap14.2.7 Avaya14.2.8 Nice14.2.9 Nuance Communications14.2.10 Genesys14.2.11 8X814.2.12 Artificial Solutions14.3 Other Players14.3.1 RingCentral14.3.2 Talkdesk14.3.3 Dialpad14.3.4 Twilio14.3.5 Zendesk14.3.6 Five914.3.7 Kore.AI14.3.8 Inbenta14.3.9 Creative Virtual14.4 Startups/SMEs14.4.1 Haptik14.4.2 RulAI14.4.3 Pypestream14.4.4 Avaamo14.4.5 Senseforth.AI14.4.6 Observe.AI14.4.7 Yellow.AI14.4.8 Ultimate.AI14.4.9 Cognigy

15. Adjacent and Related Markets

16. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/7ewan0

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The Worldwide Call Center AI Industry is Expected to Reach $4.1 Billion by 2027 - Yahoo Finance