The Artificial Intelligence (AI) in Call Center Market is expected to grow from USD 900 million in 2020 to USD 4,890 million by 2026 at a CAGR of 48.5% from 2020 to 2026.
AI chatbots are based upon natural language processing, which allows them to perform human-like conversations and help customers in real-time process. They also assist call centers in understanding business intelligence regarding customer preferences, opinions and buying pattern. The data gathered from chatbots allows businesses to offer dynamic recommendations and individualized customer experience. Applying AI in the call center industry is a major success for customers who require self-service options. It can assist customers obtain right information at the right time, which saves time and effort spent on service calls, rising efficiency of the call centers. The rising amount of data generation, surging demand of AI in a call center to improve customer support services and the rising number of customer engagement platforms such as email, social media and websites are the major factors which are propelling the growth of the artificial intelligence (AI) in call center market. The surging number of smartphone users is escalating the demand for 24 hours customer support services, which in turn, is increasing the requirement for artificial intelligence in a call center to improve customer experience, engagement and satisfaction. In addition to this, the rising adoption of AI-enabled call center solutions among various industries such as healthcare, BFSI, telecom and retail sector, to offer seamless, faster and precise experience to their customers at any time, is further fueling the growth of the artificial intelligence (AI) in call center market. In addition, the technological advancements in call center solutions and services by utilizing advanced technology such as machine learning, natural language processing (NLP) and deep learning is also boosting the market growth of artificial intelligence (AI) in call center. Moreover, the adoption of various trending technologies such as IoT devices, 5G and the cost-efficiency and flexibility, provided by cloud-based arrangement, further influence the market. Major part of the call center AI solutions are getting adopted over cloud as it provides benefits, for instance, minimum cost of establishment and support, higher adaptability, availability to continuing data and better business effectiveness, when compared to on-premises arrangements. Apart from this, the factors such as data security and privacy issues as well as the dearth of skilled professionals are the key factors restraining the growth of artificial intelligence (AI) in call center market across the world.
Further, urbanization and digitization, and acceptance of advanced technology also positively impact the artificial intelligence (AI) in call center market. Besides, the incorporation of gesture recognition with AI-Based chatbots or Ivas will create opportunities for the artificial intelligence (AI) in call center market growth.
The global Artificial Intelligence (AI) in Call Center Market is segregated on the basis of Component as Solutions, Services and Compute Platform. Based on Deployment the global Artificial Intelligence (AI) in Call Center Market is segmented in On-premises and Cloud. Based on Industry Vertical the global Artificial Intelligence (AI) in Call Center Market is segmented in BFSI, Retail and eCommerce, Healthcare, IT & Telecom, Manufacturing, Media & Entertainment, Education and Others.
The global Artificial Intelligence (AI) in Call Center Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Artificial Intelligence (AI) in Call Center Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Inbenta Technologies, IBM, Google, Creative Virtual, EdgeVerve Systems and others are among the major players in the global Artificial Intelligence (AI) in Call Center Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Artificial Intelligence (AI) in Call Center Market has been segmented as below:
Artificial Intelligence (AI) in Call Center Market, By Component
Artificial Intelligence (AI) in Call Center Market, By Deployment
Artificial Intelligence (AI) in Call Center Market, By Industry Vertical
Artificial Intelligence (AI) in Call Center Market, By Region
Artificial Intelligence (AI) in Call Center Market, By Company
The report covers the below scope:
Global Artificial Intelligence (AI) in Call Center Market sizes from 2020 to 2026, along with CAGR for 2020-2026
Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
Global Artificial Intelligence (AI) in Call Center Market trends, covering comprehensive range of consumer trends & manufacturer trends
Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Artificial Intelligence (AI) in Call Center Market
Major market opportunities and challenges in forecast timeframe to be focused
Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
Comprehensive company profiles of the key industry players
The years considered for the study are as follows:
Report Scope:
The global Artificial Intelligence (AI) in Call Center Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Artificial Intelligence (AI) in Call Center Market share. Major industry players with significant revenue share include Inbenta Technologies, IBM, Google, Creative Virtual, EdgeVerve Systems and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. Artificial Intelligence (AI) in Call Center Market, By Component
5.1. Key Points
5.2. Solutions
5.3. Services
5.4. Compute Platform
6. Artificial Intelligence (AI) in Call Center Market, By Deployment
6.1. Key Points
6.2. On-premises
6.3. Cloud
7. Artificial Intelligence (AI) in Call Center Market, By Industry Vertical
7.1. Key Points
7.2. BFSI
7.3. Retail and eCommerce
7.4. Healthcare
7.5. IT & Telecom
7.6. Manufacturing
7.7. Media & Entertainment
7.8. Education
7.9. Others
8. Competitive Landscape
8.1. Introduction
8.2. Start-up companies- Artificial Intelligence (AI) in Call Center Market
8.3. Recent Developments
8.3.1. Mergers & Acquisitions
8.3.2. New Product Developments
8.3.3. Portfolio/Production Capacity Expansions
8.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
8.3.5. Others
9. Company Profile
9.1. Inbenta Technologies
9.2. IBM
9.3. Google
9.4. Creative Virtual
9.5. EdgeVerve Systems
9.6. Microsoft
9.7. Oracle
9.8. SAP
9.9. AWS
9.10. Nuance Communications
9.11. Avaya
9.12. Haptik
9.13. Artificial Solutions
9.14. Zendesk
9.15. Conversica
9.16. Rulai
9.17. Kore.ai
9.18. Pypestream
9.19. Avaamo
9.20. Talkdesk
9.21. NICE inContact
Artificial Intelligence (AI) in Call Center Market, By Component
Artificial Intelligence (AI) in Call Center Market, By Deployment
Artificial Intelligence (AI) in Call Center Market, By Industry Vertical