Call Center AI Market to Surge at a CAGR of 27.8% to Reach $8.71 Billion by 2029
28 Jan, 2025
What Transformation Has the Call Center AI Market Undergone?
The call center ai market
• Its size grew exponentially from $2.65 billion in 2024 to $3.27 billion in 2025, marking a CAGR of 23.4%.
This accelerated growth largely stems from various factors including enhancing customer experiences, rising customer expectations, a surge in customer interaction volumes, and the imperative for cost efficiency, fueled by integration with existing systems.
How Will The Call Center AI Market Size Evolve In The Foreseeable Future?
The Call Center AI Market is set to experience tremendous growth in the coming years.
• By 2029, the market size is expected to reach$8.71 billion at an impressive CAGR of 27.8%. The drivers propelling this growth encompass personalization of customer interactions, enhanced sentiment analysis, a focus on accessibility features, evolving customer communication preferences, and multi-channel support.
The market's progression will also be significantly influenced by trends such as the adoption of virtual assistants and chatbots, conversational AI for natural language processing, voice biometrics for authentication, continuous learning and adaptability, enhanced call analytics and reporting, plus integration with CRM systems.
What Factors Are Catalyzing the Growth of the Call Center AI Market?
Acceleration in the demand for AI-based intelligent virtual assistants and chatbots is propelling the growth of the Call Center AI market. These AI-driven tools offer enhanced customer support services, creating remarkable opportunities and better communication avenues for clients. The rise in call volumes at customer service centers worldwide, courtesy of the COVID-19 pandemic, has given impetus to the implementation of automation techniques such as chatbots, artificial intelligence, and natural language processing. For instance, according to RT insights, a United States forum specializing in machine learning and big data, conversational AI in the form of chatbots or virtual assistants will be utilized by 123 million US adults, or 47% of the population, at least once a month by the end of 2022.
How Is The Call Center AI Market Structured?
The Call Center AI Market report covers the following segments –
1) By Component: Computer Platforms, Solutions, Services
2) By Deployment Type: Cloud, On-Premise
3) By Industry Vertical: Banking, Financial Services, And Insurance (BFSI), Retail And E-Commerce, Telecom, Healthcare, Media And Entertainment, Travel And Hospitality, Other Industries
What are the Trends Shaping the Call Center AI Market?
Technology advancement is a key trend amplifying the development of the call center AI market. As an example, in September 2024, Kore.ai Inc., a US-based firm, launched Kore.ai XO Automation and Kore.ai Contact Center AI. These avant-garde tools are equipped to elevate enterprise AI capabilities and streamline customer interactions. They provide compelling benefits such as enhanced operational efficiency, improved customer satisfaction via advanced generative AI capabilities, and streamlined agent support through real-time guidance and automated task management.
Who Are The Key Players Operating In The Call Center AI Market?
Major companies driving innovation in the Call Center AI Market are:
• IBM Corporation
• Microsoft Corporation Inc.
• Oracle Corporation
• Amazon Web Services Inc.
• SAP SE
• Google LLC
• Avaya Holdings Corp.
• NICE Ltd.
• Nuance Communications Inc.
• Zendesk Inc.
What Are Key Regional Insights Into The Call Center AI Market?
North America dominated the Call Center AI market in 2024, while the Asia-Pacific region is anticipated to be the fastest-growing in the subsequent years. The report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.