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(Wireless-NewsWire.Com, September 19, 2018 ) According to Verified Market Intelligence, The Global Interactive Voice Response Market was valued at USD 3.47 billion in 2017 and is projected to reach USD 5.84 billion by 2025, growing at a CAGR of 6.7% from 2018 to 2025.
Interactive voice response (IVR) is a technology that allows humans to interact with an automated telephone system. This system interacts with callers, collects information and directs the incoming calls to the appropriate recipients. It receives a combination of telephone input and keypad selection tone to provide appropriate responses to inquiries in the form of voice, email, fax, callback, and other contact methods.
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Growing advanced technologies integration, rising cloud infrastructure and increasing adoption rate of IVRs have been driving the global interactive voice response market. Moreover, increasing cloud-based services equipped with high industry standards and growing integration of advanced technologies have also contributed to the growth of the market. While concerns for data security and effects of additional information and irrelevant options within a menu on the usability of IVRs acts a potential restraint for the overall market at a global level.
The “Global Interactive Voice Response Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Genesys Telecommunication Laboratories, Inc., Avaya Inc., AT&T Inc., Aspect Software Parent, Inc., West Corporation, Cisco Systems, Inc., IVR Lab, Verizon Communications Inc. and Nuance Communications, Inc. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
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