Ai In Call Center Operations Market 2023 – 2030 by Deployment(On-Premise and Cloud), Component(Compute Platforms, Solution), by Vertical(Energy, utilities) - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Industry : Information Technology | Pages : 176 Pages | Published On : Jul 2023
The market for AI in call center operations has witnessed significant growth and is projected to continue expanding. In 2021, the global market size was valued at USD 1.32 billion, and it is expected to reach USD 7.5 billion by 2030, growing at a CAGR of 21.3% during the forecast period from 2023 to 2030.
AI solutions in call center operations have gained popularity due to their ability to reduce operational costs and enhance the customer experience by providing personalized services. Leading companies in various industries are leveraging AI to analyze customer sentiments, assess agent performance, and identify key problem areas, thereby improving the overall support experience. By automating repetitive tasks, AI frees up agents' time, allowing them to focus on addressing the root causes of customer challenges.
AI can also contribute to the development of top-performing agents by analyzing hours of voice data to identify patterns in their performance and well-being, facilitating better training and onboarding processes. Furthermore, AI-powered chatbots are being deployed in call centers to scale productivity without compromising the customer experience. These chatbots are capable of handling a wide range of customer queries and can be employed by companies worldwide to enhance the quality of analytics insights derived from call center data.
Overall, the integration of AI technology in call center operations offers numerous benefits and is expected to have a significant impact on the industry, improving efficiency, customer satisfaction, and the overall quality of service provided.
Global AI In Call Center Operations Market Segmental Analysis
The global market for AI in call center operations is categorized based on components, verticals, deployments, and regions. The vertical segmentation includes BFSI, Retail and E-Commerce, Telecom, Healthcare, Media and Entertainment, Travel and Hospitality, and Others. The component segmentation comprises Compute Platforms, Solutions, Services, and others. The market is further divided based on deployment into On-Premise and Cloud. Geographically, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Deployment
When analyzing the deployment aspect, the global market is divided into two main segments: On-Premise and Cloud. The On-Premise segment holds the largest share in the AI in call center operations market. This is due to the wide range of benefits it offers, such as customization and implementation of AI solutions and services within enterprises and corporations. The on-premise deployment mode also ensures efficient safety and security of consumer data, enhancing system security and providing a more secure ecosystem for handling consumer data.
Analysis by Vertical
In terms of verticals, the AI in call center operations market encompasses various sectors, including BFSI, Retail and E-Commerce, Telecom, Healthcare, Media and Entertainment, Travel and Hospitality, and Others. The BFSI segment plays a significant role in driving innovation and growth across all technology industries, including the global market for AI in call center operations. AI solutions in the banking ecosystem enhance the quality and efficiency of call center interactions, enabling banks to offer better customer services. The rapid growth of the retail and e-commerce industry has also contributed to the expansion of the AI in call center operations market, with Google's Call Centre AI market experiencing significant growth in this sector.
Global AI In Call Center Operations Market Regional Insights
North America is projected to have the largest market share in the global AI in Call Center Operations market. This is primarily attributed to the presence of key market players such as NVIDIA, Microsoft, and others, who contribute significantly to the growth of the industry in the region.
On the other hand, Asia Pacific is expected to experience the fastest growth during the forecast period. This can be attributed to the increasing adoption of AI in Call Center Operations technology by larger organizations, particularly in China and Japan, within the Asia Pacific region. There has been a notable increase in customer communication and relationship enhancement efforts in Asia Pacific in recent years. Furthermore, both established organizations and startups are making substantial investments to offer high-quality, affordable data security services to consumers, thereby driving the demand for AI in Risk Management solutions in the region.
Global AI In Call Center Operations Market Dynamics
Increasing Popularity of Customer Engagement to Boost Growth of Call Center Operations market
The growing popularity of customer engagement in today's digital age has become a key focus for businesses and personal influencers. Communication with customers through social media platforms has become crucial, prompting a shift from traditional customer support methods such as emails or messages to AI-powered chatbots. This transition enables agents to enhance customer experience and engagement by leveraging robust historical data and insights, thereby facilitating cross-selling and upselling opportunities.
High Cost to Hinder Market Growth during Forecast Year
However, there are certain restraints that may hinder the growth of the market. One such restraint is the high cost associated with enabling specialized AI services, especially for startups and new industries entering the market. Even with the utilization of cloud-native services, processing large amounts of data can still be expensive. Additionally, concerns regarding data privacy and protection are significant considerations when implementing AI and machine intelligence solutions.
Global AI In Call Center Operations Market Competitive Landscape
During the forecast period, the global AI in Call Center Operations market is anticipated to experience heightened competition as new entrants are projected to join the market. This increase in competition can be attributed to the growing number of solutions and software that are compatible with AI in Call Center Operations. Currently, only a handful of key players are dominating the global market; however, in the coming years, the market is expected to witness a surge in the number of players offering their services.
Top Player’s Company Profiles
• IBM Corporation
• Google LLC
• Microsoft Corporation
• AWS (Amazon Web Services)
• SAP SE
• Nuance Communications, Inc.
• Zendesk, Inc.
• Haptik, Inc.
• Avaya Holdings Corp.
• Artificial Solutions International AB
• Verint Systems Inc.
• NICE Systems Ltd.
• Cisco Systems, Inc.
• Uniphore Software Systems Pvt. Ltd.
• SmartAction LLC
• Kore.ai, Inc.
• Inference Solutions Inc.
• CallMiner, Inc.
• Conversica, Inc.
• Cognitivescale, Inc.
• In March 2022, Google's Contact Center AI underwent a complete platform expansion, aiming to revolutionize the customer experience by offering a comprehensive end-to-end solution.
• In January 2023, Sprinklr unveiled its partnership with Google Cloud, enabling enterprises to transform their consumer experience management strategies. This collaboration not only enhances awareness among their shared customers but also accelerates Sprinklr's go-to-market approach.
Global AI In Call Center Operations Key Market Trends
The demand for cell service across various platforms and businesses is a top priority for customers. Recognizing this trend, contact centers worldwide are adopting AI technology to enable self-service options, resulting in reduced wait times and round-the-clock access to support. This growing trend of cell service has shown a positive trajectory, largely attributed to the provision of fast and efficient customer support.
• Compute Platforms
• Solution, and Service
• transportation & logistics
• consumer electronics
• On-Premise and Cloud
Table and Figures
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