Call Center AI Market Growth, Demand & Opportunities

1. 2022 Call Center AI Market Opportunities, Companies and Trends in Coming Years

2. The global call center AI market attained a valuation of $914.5 million in 2018 and it is predicted to generate a revenue of more than $2,990.1 million by 2024. Furthermore, the market will advance at a CAGR of 22.6% between 2019 and 2024. The main factors driving the advancement of the market are the burgeoning requirement for improved customer care services and customer engagement and the surging usage of AI-powered chatbots for managing work operations efficiently and effectively. Several industries such as banking, financial services, and insurance (BFSI), telecom, retail, and healthcare are increasingly focusing on the adoption of various AI solutions and technologies for their call center services. For example, Marks and Spencer plc, which is a U.K. based retailer, announced in August 2018 that it aims to displace as many as 100 switchboard employees with an artificial intelligence (AI)-based system that has been developed by the firm, Twilio Inc. This AI system handles calls for 640 retail stores and outlets from 13 contact center hubs located across the U.K. It allows the routing of voice calls to the appropriate departments with an accuracy of more than 90% and enables the analysis of 12 million customer interactions in real-time every year. Depending on component, the call center AI market is divided into solutions and services. Between the two, the solutions category recorded higher growth in the market in the past.

3. This category is further subdivided into chatbots, intelligent interactive voice response (IVR) system, and intelligent virtual assistant (IVA). Out of these, the chatbots sub-division registered the highest growth in the call center AI market across the globe during the last few years. This was because of the huge requirement for chatbots in several industries such as retail & e-commerce, banking, financial services, and insurance (BFSI), telecom, and media & entertainment. The market is also classified, on the basis of technology, into automatic speech recognition, machine learning, natural language processing (NLP), cognitive computing, image processing, video recognition, and computer vision. Out of these, the automatic speech recognition (ASR) category recorded the highest growth in the market in the past years. This was because this technology creates customer database with extremely accurate insights, provides improved quality monitoring, optimizes the complex processes of IVR, and allows customer self-service. Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/call-center-ai-market/report-sample

4. Geographically, the call center AI market will register the highest growth in North America in the upcoming years, as per the estimates of the market research company, P&S Intelligence. This is credited to the surging investments being made for the incorporation of AI-based solutions, the rising demand for automated work operations from call centers, the rapid advancements being made in voice recognition technology, the growing demand for personalized customer experience, and the existence of several leading players in the region. Hence, it can be said with confidence that the market will exhibit huge expansion across the world in the coming years, mainly because of the mushrooming demand for improved customer care services from organizations operating in various industries. More Related reports by P&S Intelligence: Natural Language Processing (NLP) Market Key Trends And Opportunity Areas by Leading Players Machine Learning as a Service (MLaaS) Market: Top Companies, Investment Trend, Growth & Innovation Trends by 2030

5. Market Segmentation by Component • Solutions • Chatbot • Intelligent virtual assistant (IVA) • Intelligent interactive voice response (IVR) system • Services • Professional • Managed • Market Segmentation by Deployment • On-Premises • Cloud • Market Segmentation by Technology • Natural Language Processing (NLP) • Machine Learning • Automatic Speech Recognition (ASR) • Others (Computer Vision, Video Recognition, Image Processing, and Cognitive Computing)

6. Market Segmentation by Industry • Banking, Financial Services, and Insurance (BFSI) • Retail and E-commerce • Healthcare • Telecom • Media and Entertainment • Others (Energy & Utilities, Oil & Gas, Education, Government, and Automotive) • Market Segmentation by Region • North America Call Center AI Market • U.S. and Canada • Europe Call Center AI Market • U.K., Germany, France, Russia, Italy, and Rest of Europe

7. Asia-Pacific (APAC) Call Center AI Market • By component • By deployment • By technology • By industry • By country – China, Japan, India, South Korea, Australia, and Rest of APAC • Latin America (LATAM) Call Center AI Market • By component • By deployment • By technology • By industry • By country – Brazil, Mexico, and Rest of LATAM • Middle East & Africa (MEA) Call Center AI Market • By component • By deployment • By technology • By industry • By country – U.A.E., Saudi Arabia, Turkey, South Africa, and Rest of MEA

8. This study covers Historical and the present size of the Call Center AI Market 2. Historical and the present size of the market segments and understand their comparative future potential 3. Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings 4. Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders 5. Major players operating in the market and their service offerings

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