Call Center Artificial Intelligence (AI) Market by Component, By Deployment Mode, By Vertical, and By Region – Global Opportunities and Forecast, 2022-2029
Call Center Artificial Intelligence (AI) Market by Component (Compute Platforms, Solutions, and Services), By Deployment Mode (Cloud and On-Premises), By Vertical (Banking, Financial Services, and Insurance (BFSI), Retail & E-Commerce, Healthcare, Telcom, Media & Entertainment, Travel & Hospitality, and Others), and By Region
Analysts at GMI Research estimates that the Call Center AI Market was worth USD 1,416 million in 2021, and forecast to touch USD 6,336 million in 2029, growing at a significant higher CAGR of 20.6% from 2022-2029.
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Major Call Center Artificial Intelligence (AI) Market Drivers
The increasing amount of data generation, rising demand of AI in a call center to enhance customer support services and the growing number of customer engagement platforms such as social media, email, and websites are the major factors that are driving the Call Center AI Market Size. The growing number of smartphone users is increasing the demand for 24/7 customer support services, which in turn, is growing the need of AI in a call center to enhance customer experience, engagement, and satisfaction. In addition to this, the increasing adoption of AI-based call center solutions across various industries such as BFSI, healthcare, telecom, and retail sector, to provide seamless, quick, and accurate experience to their customers at any time, is further promoting the growth of the Global Call Center AI market. Moreover, technological advancements in call center solutions and services by using advanced technology such as machine learning, natural language processing (NLP), and deep learning is also fuelling the market growth of call center AI. However, data security and privacy concerns as well as the lack of skilled professionals are the major factors hindering the growth of call center AI market across the globe.
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Component – Segment Analysis
Based on component, the solution segment is expected to grow at a higher CAGR over the forecast period due to the increasing demand of AI-based solutions across industries such as BFSI, retail and e-commerce, healthcare, and telecom, to reduce operational and training cost, enhance customer service and improve personalised customer experience by resolving customer queries efficiently in no time as compared to customer service agent.
Deployment Mode – Segment Analysis
On the basis of deployment mode, the cloud segment is anticipated to grow at a higher CAGR during the forecast period due to its cost-effective and flexibility features. Moreover, on-cloud based AI call center solutions and services are offering low installation costs, easy maintenance, high accessibility, and scalability to improve business efficiency and provide faster response rates as compared to on-premise deployment.
Vertical – Segment Analysis
Based on vertical, the BFSI segment is expected to grow at a higher CAGR in the Global call center AI market during the forecast period due to the increasing demand for automated call operations in this sector, reducing operational cost and to improve customer experience. Additionally, high penetration of AI-based solutions such as chatbot or Interactive Voice Assistance (IVA) across several operations is further propelling the growth of the call center AI market globally.
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Regional – Segment Analysis
Based on region, North America is expected to grow at a higher CAGR in the Global Call Center AI market. The major factors that are driving the demand of Call Center AI in this region include increasing technological advancement, rising adoption of AI-based solution, and growing investment related to the adoption of AI in a call center to improve productivity. In addition to this, large presence of established market players such as Google LLC, IBM Corporation, Microsoft Corporation, among others, is further accelerating the market growth of call center AI in this region.
Top Market Players
Various notable players in the Call Center AI market include Microsoft Corporation, IBM Corporation, Google LLC., Oracle Corporation, Amazon Web Services, SAP SE, Nuance Communications Inc., Haptik Inc., Avaya Inc., Five9 Inc. and Artificial Solutions.
Key Developments:
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- In May 2019, Microsoft Corporation opened an Africa Development Center (ADC) in Nairobi, Kenya, and Lagos, Nigeria, as its investment for cloud innovations in Africa. The ADC is the first Global Development Center in Africa with a combined expected investment of US $100 million over the first five years of operation.
- In Apr 2019, Google LLC launched a beta version of the AI platform for its Contact Center AI. This version uses tools like Dialogflow and Google’s text-to-speech capabilities, which allow its user to build a virtual agent. The company also announced to launch an end-to-end AI platform to offer data scientists and developers, an end-to-end service for building, testing, and deploying their own models.
- In Apr 2019, IBM Corporation entered into a partnership with Regions Bank Corporation (US) to deliver IBM Watson artificial intelligence (AI) technology to help improve customer service and assist bankers in daily work. The regional banks are using this IBM Watson technology to help both customers and employees.
The Global Call Center AI market has been segmented on the basis of component, deployment mode, vertical, and regions. Based on the component market is categorized into solution and services. Based on deployment, the mode market is segmented into on-cloud and on-premises. Based on the vertical market is segmented into Banking, Financial Services, and Insurance (BFSI), Retail & E-Commerce, Healthcare, Telcom, Media & Entertainment, Travel & Hospitality, and Others.
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Key questions answered in this research report:
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- At what pace is the global Call Center AI market growing? What will be a growing trend in the future?
- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Call Center AI market?
- Which component generated maximum revenues in 2021 and identify the most promising components during the forecast period?
- What are the various application areas, and how they are poised to grow?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
|
Report Coverage |
Details |
| Market Revenues (2021) |
USD 1,416 million |
| Market Base Year |
2021 |
| Market Forecast Period |
2022-2029 |
| Base Year & Forecast Units |
Revenues (USD Million) |
| Market Segment | By Component, By Deployment Mode, By Vertical and By Region |
| Regional Coverage | Asia Pacific, Europe, North America, and RoW |
| Companies Profiled | Microsoft Corporation, IBM Corporation, Google LLC, Oracle Corporation, Amazon Web Services, SAP SE, Nuance Communications Inc., Haptik, Inc., Avaya, Inc., Five9, Inc., Artificial Solutions; a total of 11 companies covered. |
| 25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global Call Center AI Market by Component
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- Compute Platforms
- Solutions
- Services
- Consulting
- System Integration and Deployment
- Support and Maintenance
Global Call Center AI Market by Deployment Mode
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- Cloud
- On-Premises
Global Call Center AI Market by Vertical
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- Banking, Financial Services, and Insurance (BFSI)
- Retail & E-Commerce
- Healthcare
- Telcom
- Media & Entertainment
- Travel & Hospitality
- Others
Global Call Center AI Market by Region
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North America Global Call Center AI Market (Option 1: As a part of the free 25% customization)
- By Component
- By Deployment Mode
- By Vertical
- US Market All-Up
- Canada Market All-Up
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Europe Global Call Center AI Market (Option 2: As a part of the free 25% customization)
- By Component
- By Deployment Mode
- By Vertical
- UK Market All-Up
- Germany Market All-Up
- France Market All-Up
- Spain Market All-Up
- Rest of Europe Market All-Up
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Asia-Pacific Global Call Center AI Market (Option 3: As a part of the free 25% customization)
- By Product
- By End User Type
- China Market All-Up
- India Market All-Up
- Japan Market All-Up
- Rest of APAC Market All-Up
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RoW Global Call Center AI Market (Option 4: As a part of the free 25% customization)
- By Product
- By End User Type
- Brazil Market All-Up
- South Africa Market All-Up
- Saudi Arabia Market All-Up
- UAE Market All-Up
- Rest of world (remaining countries of the LAMEA region) Market All-Up
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Leading Market Players (Option 5: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)
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- Microsoft Corporation
- IBM Corporation
- Google LLC
- Oracle Corporation
- Amazon Web Services
- SAP SE
- Nuance Communications, Inc.
- Haptik, Inc.
- Avaya, Inc.
- Five9, Inc.
- Artificial Solutions
Frequently Asked Question About This Report
Call Center AI Market [UP439A-00-0620]
North America is projected to grow at a higher CAGR in the Call Center AI market. The major factors that are driving the demand of Call Center AI in this region include increasing technological advancement, rising adoption of AI-based solution, and growing investment related to the adoption of AI in a call center to improve productivity.
The growth rate of Call Center Artificial Intelligence Market during forecast period is 28.2%.
The cloud segment is anticipated to grow at a higher CAGR during the forecast period due to its cost-effective and flexibility features.
The leading player in this market are Microsoft Corporation, IBM Corporation, Google LLC., Oracle Corporation, Amazon Web Services, SAP SE, Nuance Communications Inc., Haptik Inc., Avaya Inc., Five9 Inc. and Artificial Solutions.
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