T3i Group Predicts Healthy Growth In IVR Market Driven By the Synergy of New Applications and Technology
According to a new T3i Group report, the top three IVR applications that could boost revenues are incoming call handling for contact centers; inbound self-service transactions; and outbound calling, such as appointment confirmations, collections reminders and repair notifications.
Parsippany, NJ (PRWEB) July 14, 2009
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. "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."
For more information about the "InfoTrack for Converged Applications 2008 IVR Market Report," go to http://www. telecomweb. com/marketresearch/convergedapps/ (http://www. telecomweb. com/marketresearch/convergedapps/) or contact Bonnie Fairbrother at 973/602-0181.
About T3i Group LLC:
T3i Group LLC provides market research, data, analysis, and consulting and advisory services to the telecommunications industry. It has clients in 46 countries and conducts its business through four operating units: InfoTrack publishes reports that analyze shipment, revenue, market share and other pertinent data of importance to telecommunications equipment manufacturers; TelecomTactics maintains a database of the features and functionality of major telephony systems; Tarifica maintains a database of pricing-related information covering 400 telecommunications carriers operating in 130 countries; and TelecomWeb (www. t3igroup. com) serves as T3i Group's primary delivery mechanism for distributing its reports, analyses and data to subscribers.
T3i Group LLC is headquartered in Parsippany, N. J., with additional offices in New York City; London, England; and Cherry Hill, N. J.
Press Contact: Debra Baker, 301/905-7703
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