Interactive Voice Response Market, By Solution (Call Routing, Outbound, Self-Service), By Technology (Speech Based, Touch Tone Based, Text to Speech), By Service (Maintenance & Support), By Deployment (Cloud, On-Premise) - Forecast 2027

Market Overview

In the present scenario, the Global Interactive Voice Response Market has an estimation of USD 3.7 Billion to grow its market size at the end of 2023. The global market has expected to reach a 7% CAGR in the forecast period of 2017 to 2023. Geographically, the North American region is registered to generate the highest Interactive Voice Response Market Size for the forecast period due to the efficient IVR systems implementation in the region by telecommunication companies, better network infrastructure, and large-scale adoption of interactive voice response by small and large enterprises. Moreover, the Asia-Pacific region is predicted to generate the highest CAGR for the forecast period due to the high IVR systems growth potential in different industry verticals, including BFSI, healthcare, telecommunication, government, and the public sector.

The cost of self-service application is minimizing with the continuous efforts of the Interactive Voice Response Market’s key players as they are giving more focus on the increasing cloud infrastructure. The interactive voice response technology market uses cloud hosting that offers rapid elasticity that adjusts resources quickly with allowing the cloud tools. In delivering efficient service to the intended audiences, the customers’ portals and control panels have been managed with excellent tools & automation techniques. The Interactive Voice Response Market is classified based on the deployment, organization size, solution, technology, service, and vertical. The cloud solution segment is offering minimizing costs associated with the IT infrastructure and core business competencies, which is helpful for the enterprises and further predicted to generate higher Interactive Voice Response Market Sales for the forecast period. Along with that, the cloud solution segment is offering enterprises to efficiently manage storage and privacy issues, offers data integrity, data protection, and security, and provides information related to governance.

The Interactive Voice Response Market Sales report has given the focus on the overall research and development of the global market in the forecast period. Along with that, this report has also highlighted the COVID 19 analysis to understand its impact on the global market. Moreover, the market dynamics, segmental overview, regional analysis, competitive analysis, and recent developments have been discussed to understand the present competencies and future growth aspects of the Global Interactive Voice Response Market.

COVID-19 Impact Analysis

The global pandemic has impacted the global Interactive Voice Response Market in various regions. The global market has also faced a halt for the first half of the year 2020. The global market has lost its demand across the regions. Along with that, the global market has lost its supply chain and investors due to the global lockdown across various regions. The pandemic has brought many challenges for the Interactive Voice Response Market.

Thus, the Interactive Voice Response Market Players are working hard to enhance the customer’s demand by providing better services by applying various ideas and strategies. Although the global pandemic has slowed down the progressive growth of the global market, the continuous efforts of the global players have revived the pandemic situation.

Global Market Dynamics 

Primary Key Driver of the Global Market

• The cost of self-service application is minimizing with the continuous efforts of the Interactive Voice Response Market’s key players as they are giving more focus on the increasing cloud infrastructure. These are the key driving factors that are increasing global market growth.


• As a result, the Interactive Voice Response Business market report explains that the interactive voice response is growing its demand for advanced technological features. Thus, the global market player plays an important role in developing the Interactive Voice Response Market.

Opportunities for the Global Market

• The Asia-Pacific region is predicted to generate the highest CAGR for the forecast period due to the high IVR systems growth potential in different industry verticals, including BFSI, healthcare, telecommunication, government, and public sector. This can bring more opportunities for the Asian pacific regions as well as for the global Interactive Voice Response Market.


• Along with that, the global pandemic has affected the Interactive Voice Response Business, but the global key players have worked hard to enhance the customer's demand by providing better services by applying various ideas and strategies.

Restraints of Global Market

• One of the major restraints for the global Interactive Voice Response Market was the COVID-19, which brought more destructions for the global market. But the global key players have increased the service's sales potential by improving the functionalities and strategies.


• Another market restraints can be the high costs of acquiring and implementing automotive systems. Hence, the global market players have implied further changes in their strategies to boost the global Interactive Voice Response Market growth.

Challenges for the Global Market

• Due to the high IVR systems growth potential in different industry verticals, including BFSI, healthcare, telecommunication, government, and the public sector, the global Interactive Voice Response Market might face challenges in supplying its goods across various sectors and regions.


• Further, the increasing demand for the interactive voice response might be brought challenges for the Interactive Voice Response Market Growth. The global market might face challenges in compromising the smart advanced features within the limited price.

Cumulative Growth Analysis of the Global Market

• The Global Interactive Voice Response Market has an estimation of USD 3.7 Billion to grow its market size at the end of 2023. The global market has expected to reach a 7% CAGR in the forecast period of 2017 to 2023.


• Thus, more sales targets and more productions have been the main target of the global key players for the upcoming years.

Market segmentation Overview

By Solutions:

• The Interactive Voice Response Market Segments have been classified into Outbound, Call Routing, and Self-Service based on the solutions segmentation.


• Various end-users prefer all these solutions to enhance their business across various regions.

By Technology:

• According to the technology segment, the global Interactive Voice Response Industry has been classified into Speech Based, Text to Speech, and Touch Tone Based.


• In the forecast period of 2023, all these technologies have generated a higher market share for the Interactive Voice Response Market.

By Services:

• According to the services segmentation, the global Interactive Voice Response Market has been classified into Installation, Maintenance & Support, and Training & Education.


• All these services are preferred by Large, Small, and Medium-Sized Enterprises (SMEs) according to their preferences.

By Deployment:

• According to the deployment segmentation, the global Interactive Voice Response Market has been classified into Cloud and On-Premise.


• Among all these solutions, the cloud solution segment is offering to minimize the cost associated with the IT infrastructure and core business competencies, which is helpful for the enterprises and further predicted to generate higher Interactive Voice Response Market Sales for the forecast period. Along with that, the cloud solution segment is offering enterprises to efficiently manage storage and privacy issues, offers data integrity, data protection, and security, and provides information related to governance.

By Organisation Size:

• According to the organization size segmentation, the global Interactive Voice Response Market has been segmented based on the Large Organization, Small and Medium Organization.


• The large-scale adoption of interactive voice response by small and large enterprises is expecting to generate a higher market share for the forecast period.

By Verticals:

• According to the vertical segmentation, the global Interactive Voice Response Market has been segmented based on the Healthcare, Education and Government, BFSI, IT & Telecommunication, Consumer Goods & Retail, Travel, Media & Entertainment, Transportation & Logistics, and Others.


• All these verticals are increasing the market growth with increasing the demand over the interactive voice response across the regions.

Regional Overview

According to the regional overview, the global Interactive Voice Response Market has its business across various regions such as Europe, Asia-Pacific, North America, South America, and other parts of the world.

Out of all these regions, the North America region is registered to generate the highest Interactive Voice Response Market Size for the forecast period due to the efficient IVR systems implementation in the region by telecommunication companies, better network infrastructure, and large scale adoption of interactive voice response by small and large enterprises. Moreover, the Asia-Pacific region is predicted to generate the highest CAGR for the forecast period due to the high IVR systems growth potential in different industry verticals, including BFSI, healthcare, telecommunication, government, and the public sector.

Competitive Analysis

The global Interactive Voice Response Market has potential key players who are developing the growth of the market. These market key players are:

• Convergys Corporation (U.S.),


• Avaya Inc. (U.S.),


• 8X8, Inc. (U.S.),


• Nuance Communications, Inc. (U.S.),


• Cisco Systems, Inc. (U.S.),


• AT&T Inc. (U.S.),


• West Corporation (U.S.),


• Verizon Communications Inc. (U.S.),


• IVR Lab (U.S.),


• Genesys Telecommunication Laboratories, Inc. (U.S.).

The collective efforts of the global key players can enhance the global growth of the Interactive Voice Response Market.

Recent Developments

• Cisco Systems, Inc. has designed an IP interactive voice response product that increased flexibility, simplified the complexity of business process integration, and provided a more efficient network hosting service.


• IVR enhances speech integration, call control, platform management, and reporting services.

Report Overview

The Interactive Voice Response Market report has given the focus on the overall research and development of the global market in the forecast period. Along with that, this report has also highlighted the COVID 19 analysis to understand its impact on the global market. Moreover, the market dynamics, segmental overview, regional analysis, competitive analysis, and recent developments have been discussed to understand the present competencies and future growth aspects of the Interactive Voice Response Market.

Segmental Table:

By Solutions

• Outbound,


• Call Routing,


• Self-Service

By Technology

• Speech Based,


• Text to Speech,


• Touch Tone Based

By Services

• Installation,


• Maintenance & Support,


• Training & Education

By Deployment

• Cloud


• On-Premise

By Organisation Size

• Large Organization,


• Small and Medium Organization.

By Verticals

• Healthcare,


• Education and Government,


• BFSI,


• IT & telecommunication,


• Consumer Goods & Retail,


• Travel,


• Media & Entertainment,


• Transportation & Logistics,


• Others

Report Scope:

Report Attribute/Metric	Details
Market Size	USD 3.7 Billion (2023)
CAGR	7% (2017-2023)
Base Year	2019
Forecast Period	2020-2027
Historical Data	2018
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Solution, By Technology, By Deployment
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	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.)
Key Market Opportunities	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.
Key Market Drivers	The key drivers of interactive voice response market is the growing cloud infrastructure that minimizes the cost of self-service application.

Frequently Asked Questions (FAQ) :

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