Dublin, June 19, 2019 (GLOBE NEWSWIRE) -- The "Call Center AI Market by Component (Computer Platforms, Solutions, and Services), Deployment Type (Cloud and On-premises), Vertical (BFSI, Retail & E-commerce, Telecom, Healthcare, Media & Entertainment), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The Global Call Center AI Market Size to Grow from USD 800 Million in 2019 to USD 2,800 Million By 2024, at a CAGR of 28.5% During 2019-2024.

The market has been segmented by component, deployment type, vertical, and region. The call center AI market research report presents a detailed analysis, market sizing, and forecasting of the growth trends of the market segments. This report also analyzes the global adoption trends, growth potential, key drivers, competitive outlook, restraints and opportunities, challenges, and value chain analysis.

The call center AI market comprises AI-based platforms, solutions, and services that utilize speech-based assistants and facilitate stronger interactions and greater engagement at scale across users and platforms. AI combines the speech-based technology, Natural Language Processing (NLP), and machine learning into a single platform to develop and build applications for a specific as well as for various use cases across verticals. Call center AI solutions are being leveraged by contact centers to improve the customer experience as well as operational efficiency.

The call center AI market comprises three broad technologies: machine learning and deep learning, NLP, and automated speech recognition (ASR). Since AI technology enables machines to perform activities as that of human beings, it has opened enormous market opportunities across multiple application areas. One of the major advancements in AI technology has taken place in the field of deep learning, which involves using crudely simulated neurons to process data.

These companies have adopted various strategies such as acquisitions; expansions; new product launches and product enhancements; and partnerships, agreements, and collaborations to cater to the growing demand for call center AI solutions across the globe as well as to strengthen their position in the market. These strategies have also been tracked and mentioned in the report.

Market Dynamics

Drivers

  • Use of AI By Organizations to Offer Enhanced Customer Support Services
  • Growth in Customer Engagement Through Social Media Platforms
  • Increased Data Generation

Restraints

  • Unsupervised Learning

Opportunities

  • Advancements in AI and ML
  • Integration of Gesture Recognition With AI-Based Chatbots Or Ivas

Challenges

  • Data Privacy and Security Concerns
  • Lack of Skilled Employees
  • Preference for Online Chat Over Chatbots
  • Slow Digitization Across Emerging Economies

Industry Trends

Industry Use Cases

  • Case Study 1: Autodesk Uses IBM Watson Assistant to Scale Up the Customer Queries Resolution
  • Case Study 2: Grofers Uses Haptik Bots to Handle Customer Queries During the Launch of Mega Sale
  • Case Study 3: Kotak Mahindra Worked With Nuance to Launch Its AI-Powered Virtual Assistant

Regulatory Implications

  • General Data Protection Regulation (GDPR)
  • Health Insurance Portability and Accountability Act (HIPAA)
  • Federal Trade Commission (FTC)
  • ISO/IEC JTC 1/SC 42

Technology Landscape

  • Machine Learning and Deep Learning
  • Natural Language Processing
  • Automated Speech Recognition

Companies Mentioned

  • AWS
  • Artificial Solutions
  • Avaamo
  • Avaya
  • Conversica
  • Creative Virtual
  • EdgeVerve Systems
  • Google
  • Haptik
  • IBM
  • Inbenta Technologies
  • Kore.ai
  • Microsoft
  • NICE Incontact
  • Nuance Communications
  • Oracle
  • Pypestream
  • Rulai
  • SAP
  • Talkdesk
  • Zendesk

For more information about this report visit https://www.researchandmarkets.com/r/wkaj

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Related Topics: Call Centres, Artificial Intelligence