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Call Center AI Market Size

Report ID: GMI6766
Published Date: Jul 2024
Report Format: PDF

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Call Center AI Market Size

Call Center AI Market size was valued at USD 1.8 billion in 2023 and is estimated to register a CAGR of over 19.8% between 2024 and 2032. The rising cost of hiring & retaining call center agents is a significant factor propelling the market growth. As businesses face increased labor costs and agent turnover, they will seek AI-driven solutions to automate routine tasks, improve efficiency, and enhance customer services. AI-powered chatbots, virtual agents, and speech recognition systems are reducing the need for human interventions, leading to cost savings and improved customer interactions.

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The increasing demand for improved customer services is driving the call center AI market size. Businesses are using AI technologies including chatbots, Natural Language Processing (NLP), and sentiment analysis to efficiently provide exceptional customer experiences under immense pressure. AI-driven systems offer 24/7 support, quick issue resolutions, and personalized interactions to meet the customer expectations and enhance satisfaction. As companies prioritize customer-centricity, the adoption of AI in call centers will continue to surge, thereby driving market expansion.

Call Center AI Market Report Attributes
Report Attribute	Details
Base Year:	2023
Call Center AI Market Size in 2023:	USD 1.8 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	19.8%
2032 Value Projection:	USD 8.6 Billion
Historical Data for:	2018 – 2023
No. of Pages:	300
Tables, Charts & Figures:	344
Segments covered:	Component, deployment model, application, and end-user
Growth Drivers:	Increasing demand for improved customer services Rapid advancements in Artificial Intelligence (AI) Growing adoption of omnichannel customer services Increasing regulatory compliances related call center services
Pitfalls & Challenges:	Data privacy concerns

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The challenge of customer acceptance in the call center AI market stems from the hesitations pertaining to the accuracy & reliability of AI technology. Some customers are afraid of potential errors or misunderstandings; thus, they may be skeptical about interacting with AI-powered chatbots and virtual assistants. Building trust in these AI systems is crucial. To overcome this challenge, companies must invest in AI solutions that offer consistent & accurate responses, implement transparent communication about AI usage, and provide seamless transitions between AI and human agents when necessary to ensure a positive customer experience and boost the customer confidence in AI-powered services.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of call center AI reached USD 1.8 billion in 2023 and is set to witness 19.5% CAGR from 2024 to 2032, due to the rising cost of hiring & retaining call center agents and the increasing need for improved customer services worldwide.

The solution component segment held over 60% of the market share in 2023, on account of the increasing preference for versatile & specialized AI tools.

North America market registered over 30% of the revenue share in 2023, owing to the presence of mature tech ecosystem in the region.

IBM Corporation, Google LLC, Microsoft Corporation, Oracle Corporation, SAP SE, Amazon Web Services, and Genesys are some of the major call center AI companies worldwide.