The market for Call Center AI is projected to grow from USD 1.6 billion in 2022 to USD 4.1 billion by 2027; it is expected to grow at a CAGR of 21.3% % during 2022–2027, according to new research report by MarketsandMarkets™
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Call center AI solutions are being leveraged by contact centers to improve the customer experience as well as operational efficiency. With advancements in AI technology in recent years, organizations are now leveraging AI in their customer service function, thereby shifting their focus from providing customer support services through email or messages to AI-powered chatbots that help enhance customer experience and engagement. The call center AI vendors offer AI-based platforms, software tools, and services that utilize speech-based assistants and facilitate stronger interactions and greater engagement at scale across key industries. AI combines speech-based technology, Natural Language Processing (NLP), and ML into a single platform to develop and build applications for a specific as well as for various use cases across verticals.
The solutions segment to hold a larger market size during the forecast period
Based on components, the market size of the solutions segment is expected to hold a larger market share in 2022, while the services segment is projected to grow at a higher CAGR during the forecast period. Call center AI solutions ensure the strengthening of customer relationships, resulting in increased first call resolution rate and improved customer experience. Call center AI solutions ensure the strengthening of customer relationships, resulting in increased first call resolution rate and improved customer experience.
The SMEs segment is estimated to have a higher CAGR during the forecast period
The SMEs segment is projected to register a higher CAGR during the forecast period due to the growing need to enhance business processes, reach new customers, stay competitive and control their spending. Moreover, the growing need to enhance business processes, reach new customers, stay competitive, and control their spending to boost the growth of the call center AI solutions among SMEs.
The phone mode of channel segment is estimated to hold the largest market size during the forecast period
Based on the mode of channel, the phone segment is expected to hold the largest market size during the forecast period due to the rising penetration of smartphone users across the globe. The phone mode of channel is preferred by everyone, including tech-savvy and non-tech-savvy people as it offers an enhanced user experience. The phone provides multilevel IVR, queue callback, advanced routing, warm transfer, and real-time metrics. Customers tend to use the smartphone to seek help for urgent matters, complaints, and persistent issues as this preferred mode of channel improve customer satisfaction rates and reduce miscommunication that arises from text messages.
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