According to T3i Group‘s latest research, the global interactive voice response (IVR) market, which includes speech recognition, will grow to $514 million by 2013, up from an estimated $431 million this year, due in part to the growth in VoiceXML (VXML) technology.
The market for IVR is gaining new life due to a resurgence of self-service applications; the power of VXML to link Web applications to voice; and increasingly sophisticated outbound applications, including video on cellphones,” noted Ken Dolsky, Program Director for T3i Group’s InfoTrack for Converged Applications program. “Every vertical segment has some unique opportunities, and vendors are providing both solutions and guidance as to how IVR can improve the total customer experience with customer-pleasing applications to replace the stereotypical perception of IVR as only an endless loop menu.”
T3i Group segmented the analysis in this report by technology, applications and vertical industry.
Among the key findings:
* IVR ports shipped, 95% will be VXML
95% of IVR ports shipped in 2013 will support VXML, compared with less than 75% today. VXML enables Web sites to offer the same text-based applications, such as order entry, with speech recognition.
* Top 3 IVR applications are self-services
The top three IVR applications are incoming call handling for contact centers; inbound self-service transactions; and outbound calling, such as appointment confirmations, collections reminders and repair notifications.
* Inbound calls to contact centers will annualy decrease nearly 10%
As vendors and enterprises integrate IVR into more comprehensive customer-care solutions, IVR ports shipped specifically for inbound calls to contact centers will decrease nearly 10% each year to 2013.
* Outbound IVR growth 12% annually through 2013
In comparison, IVR port growth will be driven by outbound applications at a rate of almost 12% annually through 2013.
* DTMF versus Speech Recognition evolution 1:2 by 2013
DTMF port shipments are declining, while shipments of speech ports, which recognize speech or convert text to speech, will hold an almost 2:1 advantage by 2013.
* TDM will be 10% compare to IP/SIP IVR ports
IP/SIP port shipments are growing strongly year over year; by 2013, only 10% of all IVR ports shipped will be TDM, compared with 42% today.
For more information about the InfoTrack for Converged Applications 2008 IVR Market Report, go to http://www.telecomweb.com/marketresearch