Call Center AI Market Growth & Trends
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 22.7% from 2022 to 2030. With recent advances in AI (Artificial Intelligence) technology, companies are using AI 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 historic data and insights about a customer to call center agents, allowing them to offer valuable up-selling and cross-selling opportunities.
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. Furthermore, 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 during 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. The key competitors in the call center AI industry are improving customer service by collaborating with competitors to stay competitive.
For instance, in March 2021, Jio Haptik technologies limited announced a collaboration with Zendesk, one of the prominent companies which deal in service-oriented CRM that create 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 the market growth.
The Asia Pacific (APAC) region is expected to witness significant growth in the forthcoming years due to constant technological advancements in call center solutions such as analytics and reporting, customer routing, and cloud & remote-based centers. The countries like China, India, and Japan will surge the requirement for transformation in call center operations due to reduce enterprises’ operational expenditure and raised investments in speech analytics and voice recognition technologies in the country.
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Call Center AI Market Report
Call Center AI Market Report Highlights
- North America is expected to have the highest share of the call center AI 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 North America
- The BFSI industry is at the forefront of delivering AI-enabled applications. The sector is pioneering using 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. Everyone prefers the phone mode of the channel 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
