Speech Based Interactive Voice Response Software Market

Interactive Voice Response (IVR) is an automated telephony system technology that interacts with the callers, gathers the required information and routes the calls to the particular appropriate recipient.

With the modern, sophisticated IVR systems, you can gather the input and responses through spoken words with the voice recognition. Conversations are either pre-recorded or generated audio which assists, directs, or guides customers automatically without a live operator.

Within these interactions, clients can communicate by using either the touch-tone keypad selection or voice telephone input. The responses take the form of voice, call- back or any other related media.

IVR software enables an organization to use prerecorded greetings or menu options that a customer can access through a phone keypad. Advanced IVR systems may include speech recognition software to enable a customer to communicate with a computer. Many companies have augmented or replaced IVR systems with automated speech recognition technologies that enable callers to speak their requests instead of punching numbers into their phones. These voice recognition systems can frustrate callers if the system doesn't recognize a caller's questions.

Speech Based Interactive Voice Response Software Market contains market size and forecasts of Speech Based Interactive Voice Response Software in Global, including the following market information:

Global Speech Based Interactive Voice Response Software Market Revenue, 2017-2022, 2023-2028, ($ millions)

Global top five companies in 2021 (%)

The global Speech Based Interactive Voice Response Software market was valued at 2072.6 million in 2021 and is projected to reach US$ 4462.9 million by 2028, at a CAGR of 11.6% during the forecast period.

The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.

Cloud-based Segment to Reach $ Million by 2028, with a % CAGR in next six years.

The global key manufacturers of Speech Based Interactive Voice Response Software include 8X8, Inc. (US), Nuance Communications, Inc. (US), Convergys Corporation (US), Avaya Inc. (US), Cisco Systems, Inc. (US), Connect First (US), West Corporation (US), Genesys Telecommunication Laboratories, Inc. (US) and Verizon Communications Inc. (US), etc. In 2021, the global top five players have a share approximately % in terms of revenue.

We surveyed the Speech Based Interactive Voice Response Software companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.

Total Market by Segment:

Global Speech Based Interactive Voice Response Software Market, by Type, 2017-2022, 2023-2028 ($ millions)

Global Speech Based Interactive Voice Response Software Market Segment Percentages, by Type, 2021 (%)

Cloud-based

On Premise

Global Speech Based Interactive Voice Response Software Market, by Application, 2017-2022, 2023-2028 ($ millions)

Global Speech Based Interactive Voice Response Software Market Segment Percentages, by Application, 2021 (%)

Large Enterprise

Medium Enterprise

Small Enterprise

Global Speech Based Interactive Voice Response Software Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)

Global Speech Based Interactive Voice Response Software Market Segment Percentages, By Region and Country, 2021 (%)

North America

US

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Russia

Nordic Countries

Benelux

Rest of Europe

Asia

China

Japan

South Korea

Southeast Asia

India

Rest of Asia

South America

Brazil

Argentina

Rest of South America

Middle East & Africa

Turkey

Israel

Saudi Arabia

UAE

Rest of Middle East & Africa

Competitor Analysis

The report also provides analysis of leading market participants including:

Key companies Speech Based Interactive Voice Response Software revenues in global market, 2017-2022 (estimated), ($ millions)

Key companies Speech Based Interactive Voice Response Software revenues share in global market, 2021 (%)

Further, the report presents profiles of competitors in the market, key players include:

8X8, Inc. (US)

Nuance Communications, Inc. (US)

Convergys Corporation (US)

Avaya Inc. (US)

Cisco Systems, Inc. (US)

Connect First (US)

West Corporation (US)

Genesys Telecommunication Laboratories, Inc. (US)

Verizon Communications Inc. (US)

IVR Lab (US)

Aspect Software Parent Inc. (US)

24/7 Customer, Inc. (US)

InContact Inc. (US)

NewVoiceMedia (UK)

Five9, Inc. (US)