Call Center AI Market Revenue to Reach $12,910.6 Million by 2030
- Published: July 2022
The global call center AI market size is projected to reach $12,910.6 million by 2030, advancing at a CAGR of 23.1% during 2021–2030. This is due to the improved data analytical capabilities to deal with customer inquiries in real-time and increase client engagement through social media platforms.
The solution category holds a larger market share. This is ascribed to the significant increase in the number of complex buyers’ queries in real-time and the reduction in operational costs due to the technological advancement in AI-powered software. Customer care executives are now responsible for building stronger relationships with clients to provide long-term value for businesses. For this, AI solutions are used, which also help in improving customer journey orchestration and first call resolution rate.
Globally, the APAC market is projected to witness the fastest growth in the coming years, at a CAGR of over 24.0%. This can be attributed to the presence of major IT companies and call centers in the region, and the increase in investments and government initiatives for the digitalization and implementation of AI-powered software and cloud technology. Moreover, the surging adoption of AI-based technology is expected to drive the call center AI market outlook, as the technology improves the productivity and efficiency of businesses across industries.
Healthcare is the fastest-growing category in the market, based on the end-use segment. This is because the healthcare sector is increasingly adopting call center AI solutions to perform multiple functions, such as conveying the availability of doctors, scheduling surgeries, receiving management feedback, scheduling appointments, and maintaining a client database, and the surging focus of governments to improve healthcare facilities. For instance, in 2016, the Government of India introduced standards and guidelines for the implementation of interoperable electronic health records (EHRs) that have resulted in the digitization of healthcare data. The integration of EHRs with call center software improves patient experience, creates a seamless agent experience, offers proactive communications, and reduces average handle time.
Moreover, the retail & e-commerce category is expected to witness modest growth during the forecast period. The increasing number of online purchases creates a need to deploy a dedicated team to deal with active queries. In addition to the conventional channels of communication, incumbents of the retail & e-commerce sector are focusing on customer satisfaction through social media management tools and customer feedback & engagement. This trend is likely to drive the demand for AI-powered software.
Partnerships and Collaborations Are Most-Effective Strategic Measures
Players in the industry have been involved in partnerships and collaborations to remain competitive. For instance, in March 2022, Avaya entered into a strategic partnership with Alcatel-Lucent Enterprise. Through this partnership, Avaya will extend the availability of OneCloud CCaaS composable solutions to Alcatel-Lucent’s global clients, while also making the digital networking solutions available on a global basis to Avaya customers.
Moreover, in February 2022, Nice entered into a partnership with Etisalat Digital. Through this partnership, Etisalat offers its clients a clear, unified path to the cloud with CXone, and also enables agent-assisted customer experience and frictionless digital self-service.
Major players operating in the call center AI market include IBM, Microsoft Corporation, Oracle Corporation, Amazon Web Services Inc., SAP, Google, Avaya Inc., NICE Ltd., Nuance Communications Inc., Genesys, and Artificial Solutions International AB.