Global IVR Market Expected to See Moderate Gains Driven by IP Investments

The worldwide IVR system market is growing at a steady rate and is expected to post a compound annual growth rate of 11.86 percent between 2014 to 2018, according to analysts at TechNavio. The research firm said that much of the growth can be attributed to the growing trend of IP-based IVRs that enhance deployment features and capabilities, making network management easier.

“The market for IP telephony and contact centers is growing very fast and IP IVRs are expected to make business operations more compatible. This has resulted in the development of hosted technology by contact routing vendors for handling customer interaction processes,” said Faisal Ghaus, vice president, TechNavio, in a statement. “There is also an increase in the investments so as to improve the use of IP technology. Vendors like Siemens and NEC have even developed rationalized contact routing strategy to enhance transactional capabilities.”