Call Center AI Market Expected to Reach $9.94 Billion by 2030

According to a recent report published by Allied Market Research, titled, “Call Center AI Market By Component, Deployment, Industry Vertical, and Region: Global Opportunity Analysis and Industry Forecast, 2021-2030,” The global call center AI market was valued at $959.80 million in 2020, and is projected to reach $9,949.61 million by 2030, registering a CAGR of 26.3%.

The global call center AI market is impacted by factors such as rise in need for improved customer experience & customer response time along with the enhanced data analytical capabilities. Moreover, high installation and training cost coupled with privacy and security concern is affecting the market growth. Furthermore, rise in focus of companies in AI technology and increase in penetration of social media platforms influence the market growth. However, each of these factors is anticipated to have a definite impact on the growth of the global market during the forecast period.

In 2020, on the basis of deployment, the cloud segment dominated the Call Center AI market, and is expected to maintain its dominance in the upcoming years. This is due to growing popularity of interactive voice response (IVR) solutions to enable quick resolution of queries over calls. Software allows customers to resolve product-related matters by themselves rather than depending on customer care executives. However, the on-premise segment is expected to witness highest growth rate during the forecast period.

By industry vertical, the telecom segment dominated the growth in the call center AI market in 2020, and is expected to maintain its dominance in the upcoming years. The telecom industry across the globe has expanded and grown immensely over the past years. Hence, it has become imperative for companies in telecom companies to provide quality services to match their customers’ requirements, which majorly drives the market growth. However, healthcare segment is expected to witness highest growth rate during the forecast period.

The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. The COVID-19 outbreak has low impact on the growth of the call center AI market, as call center software adoption has increased during unprecedented circumstances. Increase in need has been witnessed for enterprises to upgrade legacy infrastructure to develop a more agile approach to customer engagement. However, the success of customer engagement has always been determined by accuracy and speed of request addressal. In addition, the ongoing trend of work from home (WFH) during the pandemic has fueled the call center AI adoption to ensure business continuity.

Key Findings of the Study

• By component, in 2020 the solution dominated the Call Center AI market size. However, the services segment is expected to exhibit significant growth during Call Center AI market forecast period.
• Depending on deployment model, the cloud generated the highest revenue in 2020 of Call Center AI market share.
• According to the industry vertical, the telecom generated the highest revenue in 2020. However, the healthcare segment is expected to exhibit significant growth during the forecast period
• Region wise, the Call Center AI industry was dominated by North America region. However, Asia-Pacific is expected to witness significant growth in the upcoming years.

Some of the key Call Center AI industry players profiled in the report include Artificial Solutions International AB, IBM Corporation, Microsoft Corporation, Oracle Corporation, Amazon Web Services, SAP, Google, Avaya, NICE inContact, and Nuance Communications, Inc. This study includes call center AI market share, trends, call center AI market analysis, and future estimations to determine the imminent investment pockets.