T3i Group Predicts Healthy Growth In IVR Market Driven By the Synergy of New Applications and Technology
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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 voice XML (VXML) technology.
The new "InfoTrack for Converged Applications 2008 IVR Market Report" found global IVR shipments from the top 11 vendors exceeded 625,000 ports in 2008. The top three vendors based on ports shipped were Nortel, Genesys and Convergys; and the revenue leaders were Avaya, Nortel and Genesys. T3i Group said North America led all regions but with considerably less than 50% of the market, followed by the Europe Middle East Africa (EMEA) and Asia Pacific (APAC) regions, respectively.
T3i Group segmented the analysis in this report by technology, applications and vertical industry.
Among the key findings:
- 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.
- 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.
- 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.
- In comparison, IVR port growth will be driven by outbound applications at a rate of almost 12% annually through 2013.
- DTMF (analog voice) 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.
- 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.
