The global call center AI market was calculated at US$ 797 million in 2019 and is projected to reach US$ 9289 million by 2030. The market will grow at a compound annual growth rate (CAGR) of 25% during the forecast period from 2021-2030.
Factors Influencing
- Several key factors have fueled the growth of the global call center AI market. These factors include an increase in the number of call centers globally, a rising focus on customer satisfaction, and an increase in demand for value-added customer support services.
- Apart from that, advancements in imaging technologies and increasing adoption of AI solutions in retail, BFSI, healthcare, and telecom are likely to boost the growth of the global call center AI market during the forecast period.
- The cost-effectiveness and flexibility due to cloud-based services would contribute to the expansion of the global call center AI market. In comparison to on-premises solutions, the majority of call center AI solutions prefer cloud because it offers benefits such as lower installation and maintenance costs, more scalability, access to real-time data, and improved business efficiency. Thus, the global call center AI market would grow significantly during the analysis period.
- However, a lack of supervised learning would slow down the growth of the global call center AI market.
Geography Insight
Geographically, North America would contribute to the global call center AI market by holding the maximum share during the forecast period. The growth of the regional market is attributed to the presence of prominent players in the region, growing investments and advancements, and increasing adoption of AI in call centers. Apart from that, rising demand for automated work operations in call centers would further enhance the growth of the global call center AI market during the forecast period. Moreover, the Asia-Pacific region is expected to witness the fastest growth during the forecast period due to the increasing IT investments in developing countries and the growing presence of call centers in the region.
COVID-19 Impact Analysis
- Various call centers had to shut their activities for a short period of time. However, as the companies shifted to work from home mode, the adoption of technology increased with the innovation.
- Organizations have taken the initiative to make chatbot innovations more customer-centric, and operators have shifted their focus to COVID-19.
- Google announced the expansion of its Google Cloud rapid reaction virtual agent. During a pandemic, this rapid reaction virtual agent allows users to call and execute a customized contact community AI virtual specialist to respond to client queries that may arise due to a congested network on a visit, voice, and social channels.
Competition in the Market
- Amazon Web Services Inc.
- Microsoft Corporation
- Google LLC
- International Business Machines Corporation
- Oracle Corporation
- Cogito Corporation
- SmartAction LLC
- Five9 Inc.
- Avaya Inc.
- NICE inContact
- Talkdesk Inc.
- Zendesk Inc.
- Nuance Communications Inc.
- Haptik Inc.
- SAP SE.
- Other prominent players
Market Segmentation
By Component
By Computer Platform
- By Deployment
- On-premises
- Cloud
By Industry Vertical
- BFSI
- Retail and eCommerce
- Healthcare
- IT & Telecom
- Manufacturing
- Media & Entertainment
- Education
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
