Call Center AI Market Exhibiting At A CAGR Of 23.1% From 2023 To 2030

Posted by Neha Bora on January 5th, 2024

San Francisco, 5 Jan 2024: The Report Call Center AI Market Size, Share & Trends Analysis Report By Component, By Application, By Deployment, By Enterprise Size, By Industry, By Channel, By Region, And Segment Forecasts, 2023 - 2030

The global call center AI market size is expected to reach USD 7.08 billion by 2030, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 23.1% from 2023 to 2030. With recent advances in artificial intelligence (AI), companies are using this technology in their customer service function, shifting their services from email or messaging to AI-powered chatbots to improve customer experience and engagement. AI technologies, such as intelligent virtual assistants (IVAs) and chatbots, can engage prospects with savings or coupon opportunities, permitting human sales representatives to offer that all-important personal touch to close the deal.

Similarly, AI can provide historical data and insights about a customer to call center agents, allowing them to offer valuable up-selling and cross-selling opportunities. For instance, in June 2023, Inter IKEA Systems B.V., a Swedish multinational company that sells and designs furniture, kitchen appliances, home accessories, and others, initiated the training of its call center employees to transform them into interior design advisors. The company further built an artificial intelligence technology-enabled bot named Billie for regular customer services.

The adoption of hybrid business models by call centers offers promising market growth opportunities. Hybrid models are expected to facilitate self-service and automation of business practices. The implementation of AI-enabled chatbots aids in dealing with simple customer questions and FAQs, thus freeing human agents to engage in more complex problems, enabling contact centers to offer a customer-centric approach and improve operations. The onset of COVID-19 forced companies to deploy AI-enabled hybrid ecosystems, and the system's effectiveness is expected to offer promising growth opportunities over the forecast period.

Agents can use AI and bots integrated across all channels and create a genuinely omnichannel AI-powered call center. AI software can reduce waiting time, improve customer service, and increase customer satisfaction. Key competitors in the call center AI industry are improving customer service by collaborating with other organizations to stay competitive.

For instance, in March 2021, Jio Haptik Technologies Limited announced a collaboration with Zendesk, one of the prominent companies dealing in service-oriented CRM that creates software to improve customer relationships. Through this initiative, Jio Haptik Technologies Limited will transform its customer experience by combining AI-powered automation with human labor. For companies using Zendesk, Jio Haptik Technologies Limited will serve as the frontline of customer service, automating routine inquiries and reducing response time.

North America is expected to have the largest market share and maintain its dominance throughout the forecast period. Rapid technological advancements, the presence of global vendors in the market, and the region's increasing adoption of AI solutions are some factors driving market growth. The Asia-Pacific region is growing rapidly due to constant technological advancements in call center solutions, such as analytics and reporting, customer routing, and cloud & remote-based centers. Countries like China, India, and Japan will drive the requirement for transformation in call center operations due to reduced enterprises' operational expenditure and raised investments in speech analytics and voice recognition technologies.

Access Research Report of Call Center AI Market @ https://www.grandviewresearch.com/industry-analysis/call-center-artificial-intelligence-market-report

Call Center AI Market Report Highlights

• North America is expected to account for the highest share in the market due to the region's early adoption of call center AI technologies. Increasing smartphone adoption and technological advances in call centers are fueling adoption across the region
• The BFSI industry is at the forefront of delivering AI-enabled applications. The sector is pioneering the use of AI-enabled intelligent chatbots and redefining the customer experience. These chatbots work with their customers to provide an interface to automate multiple back-end tasks
• Due to the increasing penetration of smartphone users worldwide, the phone segment is expected to hold the largest market size during the forecast period. Majority of the consumers prefer this mode because it provides a better user experience
• The COVID-19 pandemic has resulted in an exponential increase in call volumes across regions and countries. Call volumes at centers that provide travel and healthcare information have increased significantly in the past few years

Call Center AI Market Report Scope

List of Key Players in the Call Center AI Market

• IBM
• NICE
• Zendesk
• Bright Pattern
• SmartAction LLC
• Artificial Solutions
• SAP
• Oracle
• Avaya Inc.
• Jio Haptik Technologies Limited

Access Press Release of Call Center AI Market @ https://www.grandviewresearch.com/press-release/global-call-center-artificial-intelligence-market