Contact Center AI Market to Grow by 25 Percent Per Year
Research firm TechSci Research valued the global contact center artificial intelligence market at $2.4 billion in 2022 and expects it to expand by 24.5 per year through 2028. The market is experiencing rapid growth, driven by technological advancements and the need for efficient customer service solutions, it said.
Artificial Intelligence is transforming call centers by providing automated processes, handling customer inquiries through chatbots, and offering predictive analytics that personalize customer interactions.
The report identifies emerging trends such as the proliferation of connected devices and significant strides in edge computing, which are enabling real-time processing in the AI space. Integration of AI with machine learning, advancements in voice interfaces, and a dedicated emphasis on data privacy and security are at the core of innovative trends shaping the future of call centers globally, according to TechSci.
The firm found the key factors fueling the growth in call center AI as the following:
- Technology integration: Convergence of AI with IoT and advanced analytics .
- An emphasis on exceptional customer experiences by offering personalized and efficient service delivery round-the-clock.
- Operational efficiency through automation and data analytics.
While the market journeys through its progressive path, it faces challenges in interoperability, data management, and security, all of which are stimulating advancements in technology, such as developing secure communication channels and robust privacy protocols, TechSci said further.
The report identified IBM, Google, Microsoft, Amazon Web Services, Nuance Communications, Genesys, Five9, NICE, Verint, SAP, Oracle, Avaya, and Cisco Systems as leading vendors of contact center AI technologies.
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