Market Overview
The
Global Call Center AI Market is expected to reach a value of
USD 1.9 billion in 2023, and it is further anticipated to reach a market value of
USD 12.9 billion by 2032 at a
CAGR of 23.9%. The market has seen significant growth over the past few years and is predicted to grow significantly during the forecasted period as well.
Call Center AI serves as a valuable tool to help human agents efficiently address customer calls. It functions by discreetly monitoring conversations, quickly retrieving relevant information, & providing enhanced solutions customized to the customer's specific issue, thereby improving the overall customer service experience.
Market Dynamic
The growth in digitization & the pursuit of enhanced customer experiences are providing strong assistance for the adoption of artificial intelligence, which is particularly evident in the growing use of AI in industries like smart homes & gaming, driven by the need for digitization. Furthermore, the growth in the Internet of Things (IoT) & connected devices has further increased the industry's reliance on artificial intelligence.
The integration of the latest technologies, like artificial intelligence, machine learning, speech analytics, & text analytics, is a key driver of growth in the call center AI market.
Additionally, the importance of customer satisfaction & improving customer experiences is anticipated to encourage widespread adoption of these solutions, as achieving high customer satisfaction remains a paramount objective for businesses, serving as a major source for modeling customer trends & interaction opportunities.
Research Scope and Analysis
By Component
In 2023, the solutions segment emerges as the leader in revenue share, mainly owing to the extensive adoption of
chatbots, Intelligent Virtual Assistants (IVAs) & across numerous operational processes. Voice analysis software plays a major role in recording call center interactions & converting them into text transcripts. Further, speech analytics leverages these transcripts to interpret common themes within calls, capture keywords, and monitor agent performance. These call center AI solutions play a major role in facilitating interactions for financial institutions, improving the overall customer experience, & ultimately lowering response times while enhancing overall operational efficiency.
Moreover, the call center artificial intelligence market is projected to experience major growth owing to the increasing need for enhanced customer support services across sectors such as retail, banking, healthcare, telecommunications & financial services. The integration of AI-powered software & bots within call centers is anticipated to enhance issue-resolution processes while also fueling agent engagement in high-pressure environments, which aids service providers by reducing workload, & streamlining ticketing processes through AI algorithms that auto-populate data & assist in ticket documentation using memory-based functions.
By Application
In terms of application, predictive call routing is leading with the significant market share in 2023, which is primarily driven by the increase in demand for emotion detection via speech, which allows the analysis of callers' emotional states & is anticipated to become a significant trend in the global market. Within this trend, sentiment analysis, a subset of emotional AI, is anticipated to be the fastest-growing technological advancement in the call center AI market. Factors like the rising need for AI-powered omnichannel delivery, cost-efficient chatbot development, & improved customer support services have also contributed to the growth of conversational AI. Moreover, the growth in the adoption of AI-powered chatbots, mainly during the COVID-19 pandemic, & a growing focus on customer engagement have increased the value of
conversational AI solutions, offering better opportunities across various industries.
By Deployment
On-premises segment takes the lead in market revenue share in 2023 because on-premises deployment of AI solutions & services enables enterprises to customize & execute AI models according to their specific needs. Furthermore, it ensures strong data safety & security practices, improving overall system security & creating a more protected environment for handling consumer data. SMEs in particular, are adopting on-premises call center AI solutions owing to the simple deployment & control they provide, giving significant growth prospects for the market.
Also, the cloud segment is anticipated to secure high growth throughout the forecast period driven by the rapid adoption of interactive voice response or IVR solutions, which enable the speedy resolution of queries through phone calls, and minimize the demand for traditional customer service interactions. Additionally, there is a growing trend of software allowing customers to independently address product-related issues, reducing reliance on customer support calls. Furthermore, the growth in integrating the latest systems with existing ones in workplaces and increasing demand for implementing advanced call center software is anticipated to drive significant growth in this cloud-based segment.
By End User
The BFSI (Banking, Financial Services, and Insurance) sector takes the lead in terms of revenue share, which is due to the integration of AI solutions within the banking ecosystem, improving the quality & effectiveness of call center interactions and leading to enhanced customer service offerings by banks. The deployment of AI voice assistants & chatbots in mobile banking applications enables customers to connect with call center agents as needed, streamlining query handling & lowering the workload for call center personnel, allowing them to focus on more vital customer inquiries
Also, the retail sector commands a significant share of the revenue in 2023 and is anticipated to grow substantially throughout the forecast period. The fast growth of the retail sector has been a driving force behind the global call center AI market's expansion, which can be attributed to customers' rising demand for information on different aspects, like product details, order processes, & inquiries concerning payments, refunds, and replacements.
The Global Call Center AI Market Report is segmented on the basis of the following:
By Component
By Application
- Workforce Management & Advanced Scheduling
- Journey Orchestration
- Predictive Call Routing
- Sentiment Analysis
- Others
By Deployment
By End User
- BFSI
- IT & Telecom
- Retail & E-Commerce
- Healthcare
- Energy & Utilities
- Travel & Hospitality
- Others
Regional Analysis
North America stands out as the dominant force in the global market, holding a significant
40.2% revenue share. This strong position is said to be owing to the growing e-commerce sector in the region, creating productive ground for the implementation of AI-driven call center solutions. The fast development of AI technology, mainly in the United States, benefits from supportive government initiatives, promoting a favorable environment for the regional growth of call center AI. Additionally, the existence of industry giants like IBM, Google, & Microsoft provides businesses with diverse options, driving the overall growth of the market.
Also, Asia-Pacific is anticipated to experience the most significant market growth during the forecast period, driven by significant investments in call center solutions in countries like China, India, Japan & the Philippines. These investments are acting as catalysts, driving the growth of the market in the region.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The global Call Center AI market is experiencing consolidation, with a few key players shaping the industry landscape. These key market leaders create & apply different strategies to maintain their market positions. Their strategies often revolve around developing comprehensive AI solutions that include different aspects of customer service, like chatbots, virtual agents, and speech analytics. They focus on scalability, ease of integration, & accuracy in language understanding. Additionally, partnerships & acquisitions are common to further boost their market presence.
In June 2022, Amazon Web Services (AWS) introduced Amazon Connect, a cloud-based contact center service that became a major development in the industry. AWS emphasized its unique approach by including artificial intelligence (AI) to revolutionize call centers. With the following updates, Amazon Connect delivered on its promise, introducing three transformative features that leverage AI 7
machine learning (ML) to fundamentally change the dynamics of customer-agent interactions.
Some of the prominent players in the Global Call Center AI Market are:
- Google LLC
- Oracle
- IBM Corp
- SAP SE
- Amazon Web Services
- Microsoft Corp
- Avaya Inc
- NICE
- Zendesk
- Bright Pattern
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Call Center AI Market:
The COVID-19 pandemic created both challenges & opportunities for the global call center AI market. At the start, it disturbed operations owing to lockdowns & remote work challenges, but it also boosted the adoption of AI-powered solutions as businesses looked for cost-effective & efficient customer service alternatives. As the recession hit, cost-cutting & limited budgets drove interest in automation, driving the call center AI market's growth, as companies progressively turned to AI to improve and better their customer support, streamline operations, & adapt to evolving customer behavior.
| Report Characteristics |
| Market Size (2023) |
USD 1.9 Bn |
| Forecast Value (2032) |
USD 12.9 Bn |
| CAGR (2023-2032) |
23.9% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Component (Solutions and Services), By Application (Workforce Management & Advanced, Scheduling, Journey Orchestration, Predictive Call ,Routing, Sentiment Analysis, and Others), By,Deployment (Cloud and On-Premises), By End User,(BFSI, IT & Telcom, Retail & E-Commerce, Healthcare,,Energy & Utilities, Travel & Hospitality, and Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Google LLC, Oracle, IBM Corp, SAP SE, Amazon Web
Services, Microsoft Corp, Avaya Inc, NICE, Zendesk,
Bright Pattern and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Call Center AI Market size is estimated to have a value of USD 1.9 billion in 2023 and is expected to reach USD 12.9 billion by the end of 2032.
North America dominates the Global Call Center AI Market with a share of 40.2% in 2023.
Some of the key players in the Global Call Center AI Market are Amazon, IBM Corp, Google, and many others.
The market is growing at a CAGR of 23.9 percent over the forecasted period.