Dublin, Oct. 13, 2022 (GLOBE NEWSWIRE) -- The "Call Center AI Market with Covid-19 Impact Analysis, By Component, Mode of Channel (Phone, Social Media, & Chat), Application (Workforce Optimization & Predictive Call Routing), Deployment Mode, Vertical and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global Call Center AI Market size is to grow from USD 1.6 billion in 2022 to USD 4.1 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 21.3% during the forecast period.
The services segment is projected to grow at a higher CAGR during the forecast period
The services segment is projected to grow at a higher CAGR during the forecast period. This can be attributed to the need for determining the time and cost required to install the solution that requires fully managed call center AI services. Call center AI solutions ensure the strengthening of customer relationships, resulting in increased first call resolution rate and improved customer experience.
The large enterprises' segment will hold the larger market share during the forecast period
The large enterprise segment is estimated to hold a larger market share in 2022. Large enterprises focus on solutions to effectively manage complex business processes to enhance customer engagement. Hence, these organizations are using call center AI solutions to effectively manage complex operations. The SMEs segment is projected to register a higher CAGR during the forecast period due to the growing need to enhance business processes, reach new customers, stay competitive and control their spending.
The social media segment is to grow at the highest CAGR during the forecast period
The social media segment is estimated to grow at the highest CAGR during the forecast period due to the rising demand for social media used in sentiment analysis that helps understand customer perceptions about the brand. It also helps amplify customer service quickly through shares and likes. The phone mode of the channel is expected to hold the largest share in 2022 due to the rising penetration of smartphone users across the globe.
The cloud segment is expected to hold larger market size during the forecast period
The cloud segment is expected to hold larger market size during the forecast period. The cloud technology benefit of easy deployment and minimal capital requirement facilitates the adoption of the cloud deployment model. The increasing demand for scalable, easy-to-use, and cost-effective solutions is expected to boost the demand of cloud-based call center AI in the market. Call Center AI solutions are expected to accelerate the growth of the cloud segment in the call center AI market. Moreover, cloud-based call center AI solutions enable business operations to improve employee productivity and save OPEX. Hence, the cloud-based deployment model is gaining traction in the coming years.
The predictive call routing segment is expected to have the highest CAGR during the forecast period
The predictive call routing segment is expected to have the highest CAGR during the forecast period. The predictive call routing application ensures the highest possibility of first contact resolution (FCR) and prevents overburdening agents by adapting to their existing call queue in the call center AI market.
The BFSI segment is expected to hold the largest market size during the forecast period
The BFSI segment is projected to hold the largest market size during the forecast period. The growth of this vertical is attributed to the increased adoption of call center AI solutions by financial institutions, which helps them flawlessly connect with customers, improve customer experience, and lowers customer churn. The growth of the segment is attributed to the rising need to protect businesses from costly regulatory litigations and reputational risks due to fraudulent activities while storing and managing customer information and serving customers.
Among regions, APAC holds the highest CAGR during the forecast period
The market in the Asia Pacific is expected to grow at the highest CAGR during the forecast period due to the increasing penetration of advanced technologies, rising GDP of countries, and high density of contact center outsourcing operations. Asia Pacific consists of emerging economies, such as China, Japan, and India, where call center AI solutions are being deployed at a large scale due to the presence of a lot of data centers and a high density of BPO operations. Moreover, the demand for cloud-based call center AI solutions by business enterprises is expected to enhance the customer experience in the region.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Premium Insights
5. Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Advent of AI in Call Center to Offer Enhanced Customer Support Services and Better Experience
5.2.1.2 Rising Development in Customer Engagement Through Social Media Platforms
5.2.1.3 Increased Data Generation
5.2.2 Restraints
5.2.2.1 Unsupervised Learning
5.2.3 Opportunities
5.2.3.1 Advancements in AI and Ml to Facilitate Real-Time Actionable Insights
5.2.3.2 Integration of Gesture Recognition with AI-Based Chatbots and Ivas
5.2.4 Challenges
5.2.4.1 Data Privacy and Security Concerns During Pandemic
5.2.4.2 Lack of Skilled Workforce to Articulate Business Operations
5.2.4.3 Preference for Online Chat Over Chatbots
5.2.4.4 Slow Digitization Across Emerging Economies
5.2.5 Cumulative Growth Analysis
5.3 Industry Trends
5.3.1 Call Center AI Market: Evolution
5.3.2 Ecosystem
5.3.3 Supply Chain Analysis
5.3.4 Market: COVID-19 Impact
5.3.5 Trends/Disruptions Impacting Buyers/Clients of Market
5.3.6 Case Study Analysis
5.3.6.1 Citibot Used Amazon Lex to Build Conversational Interfaces for Text and Voice Applications
5.3.6.2 Osu University Used Amazon Connect and Qnabot to Provide Seamless Experience Across Voice and Chat for Customers and Agents
5.3.6.3 Oscar Health Chose Cxone Workforce Management Enterprise to Minimize Administrative Burden and Focus on Scheduling and Forecasting
5.3.6.4 Pldt Turned to Oracle Digital Assistant Running on Oracle Cloud Infrastructure to Power Its Self-Service Chatbot
5.3.6.5 Echo Chose Oracle Digital Assistant to Help Improve Customer Experience
5.3.6.6 Firefly Health Switched to Dialpad to Get New Information Quickly
5.3.6.7 Solarzero Used Dialpad to Have a Modern Phone System That is Highly Reliable and Does Not Drop Calls
5.3.6.8 Standard Chartered Used Avaya Onecloud to Achieve Personalized and Consistent Client Service
5.3.6.9 Preferred Home Care Used Avaya Cloud Office to be Able to Reach Patients During an Outage or Other Crisis
5.3.6.10 Vodafone Selected Amazon Connect to Simplify Contact Center Operations by Drawing on AI and Ml
5.3.7 Technology Analysis
5.3.8 Patent Analysis
5.3.9 Pricing Model Analysis, 2021
5.3.10 Porter's Five Forces Analysis
5.3.11 Scenario
5.4 Regulatory Implications
5.5 Key Stakeholders and Buying Criteria
5.6 Key Conferences & Events in 2022-2023
5.7 Regulatory Landscape
6. Call Center AI Market, by Component
6.1 Introduction
6.1.1 Call Center AI: COVID-19 Impact
6.2 Solutions
6.2.1 Platform
6.2.1.1 Rising Demand for AI in Call Centers to Enhance Agent Performance and Enable Customers
6.2.2 Software Tools
6.2.2.1 Call Center AI Software Helps in Deeper Understanding of Customers Across Different Contexts and Channel Modes
6.3 Services
6.3.1 Professional Services
6.3.1.1 Training & Consulting Services
6.3.1.1.1 Training and Consulting Services Help in Initial Phase of Implementing Call Center AI
6.3.1.2 Support & Maintenance
6.3.1.2.1 Support & Maintenance Services Help Organizations Understand Changing Business Conditions and Market Trends
6.3.1.3 System Integration & Implementation Services
6.3.1.3.1 System Integration & Deployment Services Facilitate Integration of Devices and Software and Their Deployment
6.3.2 Managed Services
6.3.2.1 Enterprises Must Ensure Provision of Certain Services for Their Clients to Maintain Their Market Position
7. Call Center AI Market, by Organization Size
7.1 Introduction
7.2 Large Enterprises
7.2.1 Focus on Solutions to Effectively Manage Complex Business Processes to Enhance Customer Engagement
7.3 Small and Medium-Sized Enterprises
7.3.1 Reduced Operational Costs, Government Support, and Enhanced It Infrastructure to Influence Adoption of Call Center AI Solutions
8. Call Center AI Market, by Mode of Channel
8.1 Introduction
8.2 Phone
8.2.1 Phone to be the Most-Used Customer Service Channel to Help Customers Get Quick Resolution for Their Queries
8.3 Social Media
8.3.1 Customers Use Social Media Platforms to Highlight Positive or Negative Experiences They Have Had with Brands
8.4 Chat
8.4.1 Chat-Based Call Center AI Software Tools to Improve Response Time and Lower Operational Costs in Long Run
8.5 Email or Text
8.5.1 Versatile Website Engagement Tool to Communicate Personal Correspondence and One-On-One Conversations
8.6 Website
8.6.1 Website Chat to be Most Cost-Effective Channel to Support Multiple Customers at One Time
9. Call Center AI Market Size, by Deployment Mode
9.1 Introduction
9.2 Cloud
9.2.1 Cloud-Based Call Center AI Solutions to Gain Traction due to Their Cost-Effectiveness and Global Availability
9.3 On-Premises
9.3.1 Data Privacy Concerns and Increasing It Infrastructure Costs to Drive Growth of On-Premises Deployment Mode
10. Call Center AI Market, by Application
10.1 Introduction
10.2 Workforce Optimization
10.2.1 Workforce Optimization to Modernize Call Center Technologies and Platforms
10.3 Predictive Call Routing
10.3.1 Predictive Call Routing to Use Artificial Intelligence-Based Call Center Techniques and Analytics
10.4 Journey Orchestration
10.4.1 Journey Orchestration to Provide Holistic View of Customer Interactions with Organization
10.5 Agent Performance Management
10.5.1 Growing Need to Manage and Handle Agent Performance to Drive Market Growth
10.6 Sentiment Analysis
10.6.1 Rising Need to Automate Contact Center Processes and Gain Customer Insights to Boost Call Center AI Growth
10.7 Appointment Scheduling
10.7.1 Need to Automate Multiple Tasks and Enhance Personalized Customer Experience to Drive Market Growth
10.8 Other Applications
11. Call Center AI Market, by Vertical
11.1 Introduction
11.2 Banking, Financial Services, & Insurance
11.3 Media & Entertainment
11.4 Retail & Ecommerce
11.5 Healthcare & Life Sciences
11.6 Travel & Hospitality
11.7 It & Telecom
11.8 Transportation & Logistics
11.9 Other Verticals
12. Call Center AI Market, by Region
13. Competitive Landscape
14. Company Profiles
14.1 Introduction
14.2 Key Players
14.2.1 IBM
14.2.2 Microsoft
14.2.3 Oracle
14.2.4 Aws
14.2.5 Google
14.2.6 Sap
14.2.7 Avaya
14.2.8 Nice
14.2.9 Nuance Communications
14.2.10 Genesys
14.2.11 8X8
14.2.12 Artificial Solutions
14.3 Other Players
14.3.1 RingCentral
14.3.2 Talkdesk
14.3.3 Dialpad
14.3.4 Twilio
14.3.5 Zendesk
14.3.6 Five9
14.3.7 Kore.AI
14.3.8 Inbenta
14.3.9 Creative Virtual
14.4 Startups/SMEs
14.4.1 Haptik
14.4.2 RulAI
14.4.3 Pypestream
14.4.4 Avaamo
14.4.5 Senseforth.AI
14.4.6 Observe.AI
14.4.7 Yellow.AI
14.4.8 Ultimate.AI
14.4.9 Cognigy
15. Adjacent and Related Markets
16. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/7ewan0
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