From GlobeNewswire: 2025-05-02 09:30:00

Interactive Voice Response (IVR) Market is set to grow from USD 5.23 billion in 2023 to USD 8.99 billion by 2032, with a CAGR of 6.20%. Cloud-based IVR systems are gaining popularity due to their scalability and cost-effectiveness, projected to reach a size of USD 1.43 billion in the U.S. by 2032.

Leading Market Players like Nuance Communications, Avaya, and Cisco offer AI-powered IVR and cloud-based solutions, driving the growth of the IVR market. Cloud-based IVR systems dominate the market with 76% revenue share in 2023, while speech-based IVR solutions account for 71% of revenue.

Europe holds a 38% share in the IVR market in 2023, driven by AI-based solutions and data security regulations. Asia-Pacific is expected to witness significant growth from 2024 to 2032 due to rapid digitization and increased adoption of AI-powered customer support systems. Cisco and Samsung are introducing AI-driven tools for customer support and care.

The IVR market offers insights on deployment models, enterprise types, and technologies used. Speech-based IVR systems are favored for their user experience and AI capabilities, while touch-tone IVR solutions are growing due to low cost and ease of deployment. Europe and Asia-Pacific lead the IVR market with advanced AI solutions and high telecom infrastructure.



Read more at GlobeNewswire: Interactive Voice Response (IVR) Market to Hit USD 8.99