Sun, 27 Nov 2022

The Call Center AI Market is poised to grow at a stable CAGR of 13.5%, reaching US$ 6 Billion by 2032 from US$ 1.3 Billion in 2021. Growing client involvement through social media platforms, as well as increased data collection through the Internet of Things (IoT), social media, and developments in imaging technologies, are major growth factors for the call centre AI market.

Due to the growing necessity for organizations to replace old infrastructure to build a more flexible approach to customer interaction during the COVID-19 pandemic, the usage of sophisticated call centre software solutions has surged. Customer engagement success has historically been judged by the precision and speed with which requests are addressed, which is driving demand for call centre AI.

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Factors such as the increased need for improved customer experience and response time, as well as greater data analysis capabilities, are influencing the global call centre AI market. Furthermore, the call centre AI market's growth is being hampered by expensive installation and training costs, as well as privacy and security concerns.

In certain cases, responding to client inquiries in real-time might be challenging for a customer service representative, as customers may not understand the context of their inquiry. This has necessitated the development of better data analytics skills. The global call centre AI market is growing due to the requirement for better data analytics skills.

During the forecast period, an increase in demand among contact centers to integrate social media platforms such as Facebook and Twitter to fulfill the organization's aim of effective customer service programs is likely to give lucrative chances for call centre AI market expansion.

Platforms for social media have evolved into a vital component of modern businesses. Every firm has been increasing its social media presence in order to reach out to its customers more easily. With internet access and high social media penetration rates, a number of developing nations are seeing a population increase.

As a result, firms must modernize how they reach out to customers and respond to their problems on social media platforms, as conventional customer service approaches are no longer applicable in the digital age.

Customers are increasingly using social media channels to communicate with businesses and discuss their experiences. Furthermore, factors such as a large client base, a large number of SMEs, the emergence of the e-commerce sector, and government measures promoting business process automation all contribute to the call centre AI market's growth.

Key Takeaways:

  • The solutions from the call centre AI market are expected to grow at the fastest CAGR of 13.1% in the component sector.
  •  Cloud is expected to grow at a high rate in the deployment type sector of the call centre AI market, with a CAGR of 13.4%.
  • The market size for call centre AI in the United States is expected to reach US$ 2.1 Billion by 2032, growing at a CAGR of 13.4% during the research period.
  •  UK is expected to reach a market size of US$ US$ 282.1 Billion in the call centre AI market by 2032, with a CAGR of 12.7% during the research period.
  • China's call centre AI market is expected to be worth US$ 346.4 Mn by 2032, with a CAGR of 13% over the forecast period.
  •  Japan is expected to have a market size for call centre AI of US$ 321.0 Mn by 2032, with a CAGR of 12.5% during the research period.
  • By 2032, South Korea is expected to reach a market size of US$ 210.8 Mn in the call centre AI market, with a CAGR of 12.1% during the research period.

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Competitive Landscape:

Major vendors in the call center AI market include IBM, Google, Microsoft, Oracle, and SAP.

  • Microsoft inaugurated the Africa Development Centre (ADC) in Kenya and Nigeria in May 2019 as part of its commitment to cloud technologies across the continent.
  • IBM and Regions Bank Corporation (US) teamed up in April 2019 to offer IBM Watson AI technology to help improve customer service and aid bankers in their daily duties. Regions Bank uses Watson Assistance in its contact centers to assist both customers and workers, ensuring a great customer experience.
  • Google updated Dialogflow in February 2019 to make it more dependable, scalable, and accurate. Improved system entity recognition and language support are the two most significant changes. These enhancements are available in both Dialogflow versions (standard and enterprise).

Key Segments

By Component:

  • Compute Platforms
  • Solutions
  • Services

    • Training & Consulting Services
    • System Integration & Deployment Services
    • Support & Maintenance Services

By Deployment Type:

  • On-premises
  • Cloud

By Vertical:

  • BFSI
  • Media & Entertainment
  • Retail & eCommerce
  • Travel & Hospitality
  • Telecom
  • Healthcare
  • Others (Automotive, Government, Manufacturing, Education, and Energy & Utilities)

By Region:

  • North America
  • Europe
  • APAC
  • Middle East and Africa (MEA)
  • Latin Americ

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The post Call Center AI Market is set to exhibit growth of a CAGR 13.5% & is anticipated to be valued at US$ 6 Bn from 2022-32 | Get data-driven insights by FMI appeared first on Future Market Insights.

Original Source of the original story >> Call Center AI Market is set to exhibit growth of a CAGR 13.5% & is anticipated to be valued at US$ 6 Bn from 2022-32 | Get data-driven insights by FMI

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