Call Center AI Market Share, Size, Trends, Industry Analysis Report By Component (Solution, Services); By Deployment Model; By Organization Size; By End-Use Industry; By Region; Segment Forecast, 2022 - 2030
- Published Date:Jul-2022
- Pages: 112
- Format: PDF
- Report ID: PM2520
- Base Year: 2021
- Historical Data: 2018-2020
Report Outlook
The global call center AI market revenue was valued at USD 1.41 billion in 2021 and is anticipated to grow at a CAGR of 21.4% during the forecast period. Call center artificial intelligence is a virtual associate that works on voice or speech instructions or chatbots and handles customer grievances. Artificial intelligence is based on various technologies, such as natural language processing, speech synthesis, and voice recognition.
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Moreover, these chatbots or artificial intelligence perform tasks such as dialing a call to customers, responding to questions, controlling smart devices, and playing videos or songs based on customers' voice commands, among others. This application is enabled in various operating systems and mobile phones, and the action can be performed based on customers' needs and preferences.
There was a huge impact on the call center AI market during the COVID-19 period. The demand for cloud solutions increased significantly due to work-from-home policies and have a positive impact on industry growth. COVID-19 has forced millions of organizations worldwide to adopt work from home policy. The transition has led to a rapid increase in demand for tools to support remote teams and workflows.
Further, due to the pandemic, most organizations have shifted their priority to cloud computing technologies for the smooth running of the work. Many verticals, such as BFSI, manufacturing, and media & entertainment sectors, invested heavily in cloud contact center analytics platforms during the pandemic period. Thus, making artificial intelligence analytics a necessity to manage the smooth working of these sectors and to recover losses that occurred due to the COVID-19 crisis.
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Industry Dynamics
Growth Drivers
The industry is seeking growth during the forecast period due to the increasing digitization and providing enhanced client experiences supports. Further, the increased adoption of smart homes, and digitization in the gaming industry, have led to increased use of artificial intelligence in the industry.
Moreover, the implementation of the Internet of Things (IoT) and connected devices has aggravated the demand for artificial intelligence in the industry. Additionally, the adoption of new technologies such as artificial intelligence, ML, speech analytics, and text analytics drives the growth of the call center AI market.
Moreover, the need for customer satisfaction and enhanced customer experience is expected to contribute to the high adoption of these solutions. High customer satisfaction is the ultimate goal for any business. This helps to identify customer trends and interaction opportunities, to serve as a source for modeling.
Moreover, analytics provide a vital tool for call centers to track and file customer satisfaction, call volume, wait time, and service level. Using predictive analytics can help customer care departments solve current problems with historical data, turning it into actionable insights. Thus, analytics help deliver customer satisfaction and enhances customer experience.
Report Segmentation
The market is primarily segmented based on deployment model, component, organization size, end-use industry, and region.
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By Component |
By Deployment Model |
By Organization Size |
By End-Use Industry |
By Region |
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The Solution Segment Accounted for the Largest Market Share in 2021
The component segment is categorized into solutions and services. The solution segments account for the largest share of the market. The call center artificial intelligence solutions are used to monitor and measure contact center performance while managing customer interactions. They help the organization understand the performance of its services and examine data sources to identify customer trends, as well as interaction opportunities, to serve as a source for modeling. Analytics can be historical or predictive, and data sources include customer feedback, behavior data, demographics, and purchase data.
Furthermore, an increase in demand for artificial intelligence-enabled call center solutions is expected to create new opportunities for industry growth. The ability of these solutions to reduce operational costs, provide actionable analytics, personalize the customer experience, and increase agent efficiency is expected to drive their importance and adoption in contact centers.
Cloud-Based Deployment Segment is Expected to be the Most Lucrative Segment
Based on the deployment model, the market is classified into cloud and on-premises. The cloud segment is expected to be the most lucrative segment due to its low capital expenditure as well as low maintenance requirements. Therefore, it is highly preferred by mid-sized financial institutions. Growth in the adoption of cloud-based call center artificial intelligence solutions among large and medium-sized enterprises mainly drives the market growth.
The Large Enterprise’s Segment Accounted for the Highest Market Share in 2021
Based on organization size, the market is categorized into large enterprises and small and medium-sized businesses. The large enterprise segments account for the largest share in the call center AI market during the forecast period due to advanced technological developments and large databases.
The Healthcare Segment is Expected to be the Most Lucrative Segment
On the basis of the end-use industry, the market is categorized into BFSI, healthcare, telecom and IT, manufacturing, media and entertainment, and others. The healthcare segment is expected to be the most lucrative segment. Owing to the demand for healthcare is growing at a rapid pace as most hospitals are constantly looking for innovative ways to connect with their current and potential customers.
Moreover, the adoption of innovative call center technology solutions enables hospitals to streamline their operational efficiency. In addition, healthcare call center solutions offer hospitals various benefits, such as proactive web engagement, balanced patient care, and improved payment and collection process to improve healthcare customer experience.
North America Dominated the Global Call Center AI Market in 2021
North America is expected to dominate the call center AI market. This is due to the rapid adoption and investments in emerging technologies such as big data, cloud platforms, etc. Moreover, the low technological cost and scalability have led to the increased demand for call center AI in this region.
Competitive Insight
Some of the major players operating in the global market include 8x8, Avaya, Artificial Solutions, Avaamo, AWS, Cognigy, Dialpad, Google LLC, IBM Corporation, Microsoft Corporation, Nuance Communications, Oracle Corporation, SAP, Ultimate.ai, Yellow.ai.
Recent Developments
- In March 2022, Google LLC expanded its product portfolio by announcing Google Cloud Contact Center AI Platform, which would offer an out-of-box, end-to-end solution for the contact center.
- Furthermore, June 2021, Google launched an AI-based “Agent Assist for Chat”. This is an extension of their contact center AI.
Call Center AI Market Report Scope
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Report Attributes |
Details |
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Market size value in 2021 |
USD 1.41 billion |
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Revenue forecast in 2030 |
USD 7.43 billion |
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CAGR |
21.4% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD billion and CAGR from 2022 to 2030 |
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Segments covered |
By Component, By Deployment Model, By Organization Size, By End-Use Industry, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key companies |
8x8, Avaya, Artificial Solutions, Avaamo, AWS, Cognigy, Dialpad, Google LLC, IBM Corporation, Microsoft Corporation, Nuance Communications, Oracle Corporation, SAP, Ultimate.ai, Yellow.ai |
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