In 2021, the call center AI market generated sales worth $1,982.9 million, and it is expected to contribute $12,910.6 million in 2030, progressing at a rate of 23.1% from 2021 to 2030, ascribed to the growing up requirements for improved data analytics to manage customer inquiries with the real-time response to improve customer engagement through social media.
In
order to pace up the 4th industrial revolution, businesses across various
industries are adopting advanced technologies such as artificial intelligence,
machine learning, and mobile supercomputing that in turn, will fuel the demand
for call center AI software in the near future. More than 7500 businesses
worldwide use AI, which signifies a 35% adoption rate in 2022, showing a 4%
increase from the previous year, according to a survey. In addition, 66% of
companies are planning or have already begun the execution of AI applications
to stay in the market competition in the near future.
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| Call Center AI Market Analysis Demand Forecast Through 2030 |
Moreover,
the cloud category is projected to generate the highest sales in the call
center AI market, progressing at a 24.3% rate from 2021 to 2030, attributed to
the public, private, and hybrid cloud technologies which offer remote access
and flexibility. Organizations opt for this deployment mode, due to hosting on
software on the server of the vendor that can be accessed through a web
browser. It mitigates the requirement of regular updates and allows remote
access of data to users with hassles.
Furthermore,
traditional cloud-based call centers are inexpensive compared to on-premises
call centers, hence boost call center AI market, owed to minimal investment and
ease of deployment luring businesses to adopt it. In addition, cloud-based
software offers multiple plans to select the one that fits the requirement and
budget. The rise in software demand is owed to the inexpensive, high
scalability, and ease of use features. In addition, it improves operational
efficiency, reduces operational costs, and enhances the productivity of the
workforce.
Moreover,
this software alleviates the full-time work model from the call center, making
it a cost-effective solution for SME organizations. Applications include
interactive voice response technology that reduces costs involved in the
associated and live call attending services by directly routing the call to the
right department agent by voice commands, resulting in the expansion of the
market.
Furthermore,
the COVID-19 pandemic outbreak propels the call center AI market due to a
significant rise in the overall call volume to call centers. According to a
report, over 300% rise in calls were witnessed during the early phase of the
global pandemic lockdown. In addition, IBM Watson Assistant experienced a 60%
surge in the monthly active users from the first to last month of 2020 which
resulted in an increase in investments of the businesses for software to
automate processes and increase the efficiency of redundant tasks.
North
America captures the largest call center AI market share, and it is predicted
to generate revenue worth $6,582.4 million by 2030, advancing at a rate of
23.3% during the forecast period, led by the strong presence of the key players
in the region and the increased investments made on call centers to facilitate
efficient services to retain customers across industries.
Therefore,
the inexpensive solutions, high efficiency, and improved productivity with
remote access proliferate the market.
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