Callcenter industry software#
The voice recognition system and software market are expected to witness strong growth in the coming years. Customer satisfaction could also be higher regarding recognition of spoken command, necessitating further development, especially for companies relying on voice-enabled systems. Lack of accuracy in particular means acceptance remains low. Industry players will also need to concentrate on promoting awareness of the advantages offered by speech applications to expand their customer base.Īt present, the world market penetration for voice/speech recognition systems and software is relatively low due to technology difficulties. Such obstacles include language barrier, a factor that speech recognition vendors continue to focus their attention. Industry players will need to overcome certain obstacles to capture a larger portion of the market. At present, market penetration is at about 30%, with vast potential for market growth. The cost of implementing speech recognition applications has also been falling, prompting contact centers to adopt them more readily. Advantages fuelling this change include improved customer satisfaction, a greater degree of accuracy and cost effectiveness. Though speech recognition applications were slow, they are now being adopted in a more widespread manner in contact centers, reports TechNavio. Outbound IVR technology allows companies to rapidly provide their customers with essential information, notify them of changes and deliver a personalized customer service with a proactive approach to customer communication.
These developments will help IVR become more accepted compared with traditional modes of company-customer interaction. Outbound IVR capabilities will continue to develop, being adapted for new channels like video and SMS. Product upgrading and replacements have also been facilitated by following customer experience with a view to IVR optimization. Competition has intensified in the IVR market due to the economic recession, with contact call centers investing in technologies and tools to set themselves apart from competitors. IVR services form a central component of customer service strategies. The world interactive voice response (IVR) market is expected to reach almost $2.8 billion by 2017, according to research from Global Industry Analysts. Contract extensions and renewals were similarly postponed. Global call center industry revenue has been negatively impacted by the fluctuating economic environment as companies postponed outsourcing projects and industry players were obliged to lower prices to hold on to existing clients. While industry performance for call centers had a very strong forecast before the recession, the outlook has changed somewhat. Both inbound and outbound telecommunication services are provided by call centers, with the aim of maintaining optimal client relations, reports IBISWorld.
A segment of the IT outsourcing market and of the business outsourcing sector, the global call center industry, involves players making communication between consumers and individual customers possible.
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