Press Release / Technology / Interactive Voice Response Market 2018 Segments, Growth, Size and Trends by Forecast to 2023

Interactive Voice Response Market 2018 Segments, Growth, Size and Trends by Forecast to 2023

Market Scenario:
The Interactive Voice Response Market is segmented on the basis of solution, technology, service, deployment, organization size and vertical. Cloud solution accounts for highest market share as it helps enterprises by minimizing cost associated with the IT infrastructure. Cloud solution enable enterprise to focus on core business competencies. It provides enterprises with data protection and security, efficiently manage storage and privacy issues, offers data integrity and provides information related to governance and make enterprise legally prepared.      
The key drivers of interactive voice response market is the growing cloud infrastructure that minimizes the cost of self-service application. Cloud hosting is one significant factor that is aiding the market of interactive voice response technology it offers rapid elasticity that allow cloud tools to adjust resources quickly in order to meet the demands. It comprised of excellent tools & automation techniques that manages customers portals and control panels helps in delivering efficient service. 
Cisco Systems, Inc. is a key player in interactive voice response market, it has designed an IP interactive voice response product that empowers business organization by simplifying the complexity related to business process integration, increased flexibility and offers more efficient service in network hosting. IVR enhances call control, platform management, speech integration and reporting services. Convergys Corporation is one of the prominent player in interactive voice response market. Its IVR platform offers both the Edify (EVIP) and Intervoice (Intelligent Voice Portal) platforms.
The Interactive Voice Response Market is expected to grow at approximately USD 3.7 Billion by 2023, at 7% of CAGR between 2017 and 2023. 
Major Key Players:

8X8, Inc. (U.S.)
Nuance Communications, Inc. (U.S.)
Convergys Corporation (U.S.)
Avaya Inc. (U.S.)
Cisco Systems, Inc. (U.S.)
AT&T Inc. (U.S.)
West Corporation (U.S.)
Genesys Telecommunication Laboratories, Inc. (U.S.)
Verizon Communications Inc. (U.S.)
IVR Lab (U.S.)

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Regional Analysis:
North America region accounts for highest market share in interactive voice response market owing to better network infrastructure, efficient IVR systems implemented by telecommunication companies and large scale adoption of it by small and large enterprises.
Asia-Pacific region is expected to grow at highest CAGR owing to high growth potential of IVR systems in different industry verticals that includes telecommunication, BFSI, healthcare and government and public sector.
Segments:
Interactive Voice Response market for segment on the basis of solution, technology, service, application, deployment and organization size.
Interactive Voice Response Market by Solution:

Call Routing
Outbound
Self-Service

Interactive Voice Response Market by Technology:

Speech Based
Touch Tone Based
Text to Speech

Interactive Voice Response Market by Service:

Installation
Training & Education
Maintenance & Support

Interactive Voice Response Market by Deployment:

Cloud
On-Premise

Interactive Voice Response Market by Organization Size:

Small And Medium Organization
Large Organization

Interactive Voice Response Market by Vertical:

BFSI
IT & Telecommunication
Healthcare
Education And Government
Transportation & Logistics
Consumer Goods & Retail
Travel
Media & Entertainment
Others

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Intended Audience:

Investors and consultants
System Integrators
Government Organizations
Research/Consultancy firms
Technology solution providers
IT Solution Providers
Educational Institutes

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