Call Center AI Market Size is projected to reach USD 8.4

New York, United States, Aug. 01, 2023 (GLOBE NEWSWIRE) -- The contact center business is one of the most critical areas and a substantial source of revenue for developing nations like China and India. Call centers have demanding working conditions on an emotional, physical, and cerebral level. It calls for managing busy schedules, tight financial constraints, placating irate clients, modifying shift timings, and many other things. A call center representative is expected to fulfill the essential criterion of delivering exceptional client satisfaction in the midst of this. The agent is supposed to listen to the customer's problem carefully, assess it, and offer a workable solution from the call's beginning to its conclusion. As a result, the company gains the customer's trust and long-term affiliation. Positive feedback from a satisfied customer is crucial for the agent's and the organization's growth. A satisfying survey usually makes more money for the contact centers. However, a call center agent's chances of maintaining a long-term relationship with the business are reduced by high attrition rates and slow career advancement. Additionally, some call centers continue to use antiquated technologies like IVRs, which route calls to the first person on duty and the Roll Over to the Next Agent (RONA) option in the event of an employee absence.

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A.I.'S Epoch-Making Role In Small And Large Industry Verticals And Increased Trend For Call-Center On Cloud Are Driving The Market Growth

The adoption of cloud-based contact centers is expected to increase demand for call center artificial intelligence (A.I.) and speed up market growth. Agents can access real-time customer information through cloud-based technologies from any location. Furthermore, full-time employees are not required to come into the office because of the ability of agents to work remotely provided by cloud-based call center A.I. solutions. Suppliers of artificial intelligence (A.I.) for call centers have developed a functional architecture that divides the processing of the end-user infrastructure between two locations. In addition, Small and Medium Enterprises (SMEs) are urged to use AI-backed customer service solutions because they must toil through tedious activities. Market expansion is anticipated to be fueled by rising awareness of the novel aspects of A.I. technology and how it increases productivity. Large call centers have a tonne of client data that needs to be managed effectively in local and international locations. Consequently, call center software implementation allows workers from many disciplines to communicate and share accurate information. Additionally, it enables administrators to use a web browser to access share points hosted on the vendor's servers.

Report Scope

Report Metric	Details
Market Size by 2031	USD 8.4 billion
Market Size in 2022	USD 1.5 billion
CAGR	21% (2022-2030)
Historical Data	2020-2021
Base Year	2022
Forecast Period	2023-2031
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Component, By Deployment Type, By Application
Geographies Covered	North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors	IBM (us), Microsoft (U.S.), Oracle (U.S.), AWS (U.S.), Avaya (U.S.), Google (U.S.), Haptik (India), Zendesk (U.S.), Conversica (U.S.), Nuance Communications (U.S.), Inbenta Technologies (U.S.), Kore.ai (U.S.), EdgeVerve Systems (India), SAP (Germany), Avaamo (U.S.), Talkdesk (U.S.), Pypestream (U.S.), NICE inContact (U.S.), Creative Virtual (U.K.), and Artificial Solutions (Spain).
Key Market Opportunities	Robotic Process Automation
Key Market Drivers	Increasing trend for call-center solutions on the cloud

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Regional Insights

Due to the presence of leading manufacturers, North America dominates the call center A.I. market. The market is expanding due to quick technical advancements and a rise in the usage of AI-based solutions in the region. One of the biggest insurance providers in the U.S., MetLife, implemented an A.I. system to enhance replies. The method improves customer service interactions by assisting personnel tracking and monitoring customers' moods throughout talks. According to a global survey conducted by MIT, almost 90% of North American businesses have incorporated artificial intelligence (A.I.) into their systems to improve customer experience, which will support the region's dominance in the market during the forecast period.

More than 50% of the population in Asia-Pacific is predicted to rapidly accept technological advancements, including those hosted by A.I., which will result in a significant change in the region. The regional call center A.I. market is dominated by well-known companies like IBM, Microsoft, Google, and AWS. The Watson Assistant from IBM assists with providing prompt customer service and motivates staff to work well. Based on previous data, chat or phone logs are imported into Watson's Assistant and utilized to respond to questions and requests from actual users. A search can be performed on the firm's website or third-party tools using Watson's Search Skill feature. SMEs and large businesses in APAC are becoming more conscious of and compliant with governmental regulations.

Germany leads the European call-center A.I. market, followed by the U.K. The British United Provident Association Limited (Bupa), a UK-based insurer, integrated artificial intelligence in its call center in July 2019.

Based on the countries in the area, Brazil is the one that controls the market. Due to growing client interaction on social media platforms, increased data collecting through social media, the Internet of Things (IoT), and advancements in image technology, the market in the region is anticipated to increase.

Key Highlights

The Global Call Center AI Market size is projected to reach a value of USD 8.4 billion by 2031, registering a CAGR of 21% during the forecast period 2023-2031.
Based on the component, it is further divided into Compute Platform, Solutions, and Services, where solution dominates the market.
Based on deployment type, it is bifurcated into cloud and on-premises.
By application is divided into two BFSI and Healthcare.
Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. North America dominates the market.

Competitive Landscape

With the new emerging business in the market, there is intense competition among businesses to provide the best services to their clients. A.I. can play a significant role in enhancing the productivity of SMEs by handling routine and mundane interactions. Companies can utilize A.I. to prevent response delays. It serves as the best example of optimizing time across channels. Furthermore, public-private partnerships, as well as government funding, have helped companies to configure and launch new products and services rapidly. Some of the notable players in the market are IBM (us), Microsoft (U.S.), Oracle (U.S.), AWS (U.S.), Avaya (U.S.), Google (U.S.), Haptik (India), Zendesk (U.S.), Conversica (U.S.), Nuance Communications (U.S.), Inbenta Technologies (U.S.), Kore.ai (U.S.), EdgeVerve Systems (India), SAP (Germany), Avaamo (U.S.), Talkdesk (U.S.), Pypestream (U.S.), NICE inContact (U.S.), Creative Virtual (U.K.), and Artificial Solutions (Spain).

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Global Call Center AI Market Segmentation

By Component

Compute Platform
Solutions
Services

By Deployment Type

Cloud
On-premises

By Application

BFSI
Retail & E-commerce
Telecom
Healthcare
Media & Entertainment

By Region

North America
Europe
Asia-Pacific
LAMEA

TABLE OF CONTENT

EXECUTIVE SUMMARY
RESEARCH SCOPE & SEGMENTATION
1. Research Objectives
2. Market Definition
3. Limitations & Assumptions
4. Market Scope & Segmentation
5. Currency & Pricing Considered
MARKET OPPORTUNITY ASSESSMENT
1. Emerging Regions / Countries
2. Emerging Companies
3. Emerging Applications / End Use
4. Investment Landscape
5. New Business Models / Revenue Streams
6. TAM
MARKET TRENDS
1. Drivers
2. Market Warning Factors
3. Latest Macro Economic Indicators
4. Geopolitical Impact
5. Human Factors
6. Technology Factors
MARKET ASSESSMENT
1. Porters Five Forces Analysis
2. Value Chain Analysis
3. Sales And Distribution Channel Analysis
4. Case Study Analysis
5. Patent Analysis
6. M & A Agreements & Collabration Analysis
ESG TRENDS
GLOBAL CALL CENTER AI MARKET SIZE ANALYSIS
1. Global Call Center AI Market Introduction
2. By Component
  1. Introduction
    1. Component By Value
  2. Compute Platform
    1. By Value
  3. Solutions
    1. By Value
  4. Services
    1. By Value
3. By Deployment Type
  1. Introduction
    1. Deployment Type By Value
  2. Cloud
    1. By Value
  3. On-Premises
    1. By Value
4. By Application
  1. Introduction
    1. Application By Value
  2. BFSI
    1. By Value
  3. Retail & E-Commerce
    1. By Value
  4. Telecom
    1. By Value
  5. Healthcare
    1. By Value
  6. Media & Entertainment
    1. By Value
NORTH AMERICA MARKET ANALYSIS
1. Introduction
2. By Component
  1. Introduction
    1. Component By Value
  2. Compute Platform
    1. By Value
  3. Solutions
    1. By Value
  4. Services
    1. By Value
3. By Deployment Type
  1. Introduction
    1. Deployment Type By Value
  2. Cloud
    1. By Value
  3. On-Premises
    1. By Value
4. By Application
  1. Introduction
    1. Application By Value
  2. BFSI
    1. By Value
  3. Retail & E-Commerce
    1. By Value
  4. Telecom
    1. By Value
  5. Healthcare
    1. By Value
  6. Media & Entertainment
    1. By Value
5. U.S.
  1. By Component
    1. Introduction
      1. Component By Value
    2. Compute Platform
      1. By Value
    3. Solutions
      1. By Value
    4. Services
      1. By Value
  2. By Deployment Type
    1. Introduction
      1. Deployment Type By Value
    2. Cloud
      1. By Value
    3. On-Premises
      1. By Value
  3. By Application
    1. Introduction
      1. Application By Value
    2. BFSI
      1. By Value
    3. Retail & E-Commerce
      1. By Value
    4. Telecom
      1. By Value
    5. Healthcare
      1. By Value
    6. Media & Entertainment
      1. By Value
6. Canada
EUROPE MARKET ANALYSIS
1. Introduction
2. By Component
  1. Introduction
    1. Component By Value
  2. Compute Platform
    1. By Value
  3. Solutions
    1. By Value
  4. Services
    1. By Value
3. By Deployment Type
  1. Introduction
    1. Deployment Type By Value
  2. Cloud
    1. By Value
  3. On-Premises
    1. By Value
4. By Application
  1. Introduction
    1. Application By Value
  2. BFSI
    1. By Value
  3. Retail & E-Commerce
    1. By Value
  4. Telecom
    1. By Value
  5. Healthcare
    1. By Value
  6. Media & Entertainment
    1. By Value
5. U.K.
  1. By Component
    1. Introduction
      1. Component By Value
    2. Compute Platform
      1. By Value
    3. Solutions
      1. By Value
    4. Services
      1. By Value
  2. By Deployment Type
    1. Introduction
      1. Deployment Type By Value
    2. Cloud
      1. By Value
    3. On-Premises
      1. By Value
  3. By Application
    1. Introduction
      1. Application By Value
    2. BFSI
      1. By Value
    3. Retail & E-Commerce
      1. By Value
    4. Telecom
      1. By Value
    5. Healthcare
      1. By Value
    6. Media & Entertainment
      1. By Value
6. Germany
7. France
8. Spain
9. Italy
10. Russia
11. Nordic
12. Benelux
13. Rest Of Europe
APAC MARKET ANALYSIS
1. Introduction
2. By Component
  1. Introduction
    1. Component By Value
  2. Compute Platform
    1. By Value
  3. Solutions
    1. By Value
  4. Services
    1. By Value
3. By Deployment Type
  1. Introduction
    1. Deployment Type By Value
  2. Cloud
    1. By Value
  3. On-Premises
    1. By Value
4. By Application
  1. Introduction
    1. Application By Value
  2. BFSI
    1. By Value
  3. Retail & E-Commerce
    1. By Value
  4. Telecom
    1. By Value
  5. Healthcare
    1. By Value
  6. Media & Entertainment
    1. By Value
5. China
  1. By Component
    1. Introduction
      1. Component By Value
    2. Compute Platform
      1. By Value
    3. Solutions
      1. By Value
    4. Services
      1. By Value
  2. By Deployment Type
    1. Introduction
      1. Deployment Type By Value
    2. Cloud
      1. By Value
    3. On-Premises
      1. By Value
  3. By Application
    1. Introduction
      1. Application By Value
    2. BFSI
      1. By Value
    3. Retail & E-Commerce
      1. By Value
    4. Telecom
      1. By Value
    5. Healthcare
      1. By Value
    6. Media & Entertainment
      1. By Value
6. Korea
7. Japan
8. India
9. Australia
10. Taiwan
11. South East Asia
12. Rest Of Asia-Pacific
MIDDLE EAST AND AFRICA MARKET ANALYSIS
1. Introduction
2. By Component
  1. Introduction
    1. Component By Value
  2. Compute Platform
    1. By Value
  3. Solutions
    1. By Value
  4. Services
    1. By Value
3. By Deployment Type
  1. Introduction
    1. Deployment Type By Value
  2. Cloud
    1. By Value
  3. On-Premises
    1. By Value
4. By Application
  1. Introduction
    1. Application By Value
  2. BFSI
    1. By Value
  3. Retail & E-Commerce
    1. By Value
  4. Telecom
    1. By Value
  5. Healthcare
    1. By Value
  6. Media & Entertainment
    1. By Value
5. UAE
  1. By Component
    1. Introduction
      1. Component By Value
    2. Compute Platform
      1. By Value
    3. Solutions
      1. By Value
    4. Services
      1. By Value
  2. By Deployment Type
    1. Introduction
      1. Deployment Type By Value
    2. Cloud
      1. By Value
    3. On-Premises
      1. By Value
  3. By Application
    1. Introduction
      1. Application By Value
    2. BFSI
      1. By Value
    3. Retail & E-Commerce
      1. By Value
    4. Telecom
      1. By Value
    5. Healthcare
      1. By Value
    6. Media & Entertainment
      1. By Value
6. Turkey
7. Saudi Arabia
8. South Africa
9. Egypt
10. Nigeria
11. Rest Of MEA
LATAM MARKET ANALYSIS
1. Introduction
2. By Component
  1. Introduction
    1. Component By Value
  2. Compute Platform
    1. By Value
  3. Solutions
    1. By Value
  4. Services
    1. By Value
3. By Deployment Type
  1. Introduction
    1. Deployment Type By Value
  2. Cloud
    1. By Value
  3. On-Premises
    1. By Value
4. By Application
  1. Introduction
    1. Application By Value
  2. BFSI
    1. By Value
  3. Retail & E-Commerce
    1. By Value
  4. Telecom
    1. By Value
  5. Healthcare
    1. By Value
  6. Media & Entertainment
    1. By Value
5. Brazil
  1. By Component
    1. Introduction
      1. Component By Value
    2. Compute Platform
      1. By Value
    3. Solutions
      1. By Value
    4. Services
      1. By Value
  2. By Deployment Type
    1. Introduction
      1. Deployment Type By Value
    2. Cloud
      1. By Value
    3. On-Premises
      1. By Value
  3. By Application
    1. Introduction
      1. Application By Value
    2. BFSI
      1. By Value
    3. Retail & E-Commerce
      1. By Value
    4. Telecom
      1. By Value
    5. Healthcare
      1. By Value
    6. Media & Entertainment
      1. By Value
6. Mexico
7. Argentina
8. Chile
9. Colombia
10. Rest Of LATAM
COMPETITIVE ASSESSMENT
1. Adoption Matrix
2. Call Center AI Market Share By Manufacturers
3. Call Center AI Market Ranking By Revenue For Manufacturers
4. Average Price By Manufacturers
5. Vendor Footprint Analysis
MARKET PLAYERS ASSESSMENT
1. IBM (Us)
  1. Overview
  2. Business Information
  3. Revenue
  4. ASP
  5. Gross Margin
  6. Swot Analysis
  7. Recent Developmments
2. Microsoft (U.S.)
3. Oracle (U.S.)
4. AWS (U.S.)
5. Avaya (U.S.)
6. Google (U.S.)
7. Haptik (India)
8. Zendesk (U.S.)
9. Conversica (U.S.)
10. Nuance Communications (U.S.)
11. Inbenta Technologies (U.S.)
12. Kore.Ai (U.S.)
13. EdgeVerve Systems (India)
14. SAP (Germany)
15. Avaamo (U.S.)
16. Talkdesk (U.S.)
17. Pypestream (U.S.)
18. NICE InContact (U.S.)
19. Creative Virtual (U.K.)
20. Artificial Solutions (Spain).
RESEARCH METHODOLOGY
1. Research Data
  1. Secondary Data
    1. Major Secondary Sources
    2. Key Data From Secondary Sources
  2. Primary Data
    1. Key Data From Primary Sources
    2. Breakdown Of Primaries
  3. Secondary And Primary Research
    1. Key Industry Insights
2. Market Size Estimation
  1. Bottom-Up Approach
  2. Top-Down Approach
  3. Market Projection
3. Research Assumptions
  1. Assumptions
4. Limitations
5. Risk Assessment
APPENDIX
1. Discussion Guide
2. Customization Options
3. Related Reports
DISCLAIMER

Table of Content and Figure @ https://straitsresearch.com/report/call-center-ai-market/toc

Market News

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Oracle announced its support for the SC22 Student Cluster Competition in November 2022.
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Call Center AI Market Size is projected to reach USD 8.4 Billion by 2031, growing at a CAGR of 21%: Straits Research

The Global Call Center AI Market size was valued at USD 1.5 billion in 2022 and is projected to reach a value of USD 8.4 billion by 2031, registering a CAGR of 21% during the forecast period 2023-2031. Due to the presence of leading manufacturers, North America dominates the call center A.I. market.

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Call Center AI Market Size is projected to reach USD 8.4 Billion by 2031, growing at a CAGR of 21%: Straits Research

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