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Call Center AI Market – Global Forecast to 2024: Advancements in AI and ML & Integration of Gesture Recognition with AI-Based Chatbots or IVAS

By ET Bureau - June 20, 2019 5 Mins Read

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”

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 call center AI market size to grow at a Compound Annual Growth Rate (CAGR) of 28.5% during the forecast period

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The major growth drivers for the market include the rising use of AI by organizations to offer enhanced customer support services, growing customer engagement through social media platforms, and increasing data generation by organizations. However, unsupervised learning may restrain market growth.

Based on component, services segment to grow at the highest CAGR during the forecast period 

The services segment is projected to grow at the highest growth rating during the forecast period, as the services play a vital role in the functioning of various AI-enabled solutions. These services ensure faster and smoother implementation, which maximizes the value of enterprise investments. These services ensure the end-to-end deployment of computer platforms and address pre-and post-deployment queries of users. Most of the market vendors offer technical support services and consulting services to manage the deployment of AI-based solutions in the market.

Also read: Juniper Study Finds AI, ML, Security Drives Interest in SDN

Asia Pacific (APAC) call center AI market to grow at highest CAGR during the forecast period

The call center AI market in APAC is expected to record the highest growth rate over the next few years, as a result of the growing technology adoption rate in the region. APAC holds more than 50% of the world’s population. Therefore, any major technological shifts, such as those being heralded by AI, are expected to shape the future of the region. IBM, Microsoft, Google, and AWS account for a majority of share in the call center AI market in the region, along with several other significant call center AI solutions providers. SMEs and large enterprises in APAC have become more aware of government regulations and compliances and have started adopting AI-based solutions proactively.

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Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary 

4 Premium Insights 
4.1 Attractive Opportunities in the Call Center AI Market
4.2 Market in North America, By Technology and Country
4.3 Market Major Countries

5 Market Overview and Industry Trends 
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Use of AI By Organizations to Offer Enhanced Customer Support Services Growth in Customer Engagement Through Social Media Platforms Increased Data Generation
5.2.2 Restraints Unsupervised Learning
5.2.3 Opportunities Advancements in AI and ML Integration of Gesture Recognition With AI-Based Chatbots Or Ivas
5.2.4 Challenges Data Privacy and Security Concerns Lack of Skilled Employees Preference for Online Chat Over Chatbots Slow Digitization Across Emerging Economies
5.3 Industry Trends
5.3.1 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
5.3.2 Regulatory Implications Introduction General Data Protection Regulation (GDPR) Health Insurance Portability and Accountability Act (HIPAA) Federal Trade Commission (FTC) ISO/IEC JTC 1/SC 42
5.3.3 Technology Landscape Introduction Machine Learning and Deep Learning Natural Language Processing Automated Speech Recognition

6 Call Center AI Market By Component 
6.1 Introduction
6.2 Compute Platforms
6.2.1 Growing Demand for Developing AI Solutions is Driving the Adoption of Computer Platforms By Enterprises
6.3 Solutions
6.3.1 Rising Need for Enterprise AI Solutions is Driving the Adoption By Call Centers
6.4 Services
6.4.1 Consulting These Services Enables Call Center in Setting Up A Robust Technology Eco-System
6.4.2 System Integration and Deployment These Services Facilitates Seamless Integration of Conversation AI-Based Platforms and Solutions With Existing Systems
6.4.3 Support and Maintenance These Services Offers Continued Support for the Deployed Platforms and Solutions

7 Call Center AI Market Size By Deployment Type 
7.1 Introduction
7.2 On-Premises
7.2.1 Data Privacy Concerns is Driving the On-Premises Deployment Type
7.3 Cloud
7.3.1 Cost-Effectiveness and Flexibility Provided By Cloud-Based Deployment Drive the Cloud Segment

8 Call Center AI Market Size By Vertical 
8.1 Introduction
8.2 Banking, Financial Services, and Insurance (BFSI)
8.2.1 Conversational AI Technology Helps Address Banking Customers’ Queries With Minimum Resolution Time
8.3 Retail & E-Commerce
8.3.1 AI Chatbots Help Address the Personalized Customer Service Requirements in Retail & E-Commerce Vertical
8.4 Healthcare
8.4.1 Need for 24*7 Customer Support for Patients is Driving the Use of AI in This Vertical
8.5 Telecom
8.5.1 Enhanced Customer Service Delivery Using Chatbots Offers A Competitive Advantage to the Telecom Vendors
8.6 Media & Entertainment
8.6.1 AI-Chatbots Enhance Customer Service Delivery to the Viewers and Subscribers
8.7 Travel & Hospitality
8.7.1 Increasing Deployment of AI Chatbots Addressing the 24*7 Customer Service Requirement
8.8 Others

9 Call Center AI Market By Region

Company Profiles

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

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