Interactive Voice Response Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The interactive voice response market size has grown strongly in recent years. It will grow from $5.53 billion in 2024 to $5.92 billion in 2025 at a compound annual growth rate (CAGR) of 7%. The growth in the historic period can be attributed to rising usage of internet services and cell phone, growing number of customer care and sales teams across enterprises, rise in demand of enhancing customer relationship management.

The interactive voice response market size is expected to see strong growth in the next few years. It will grow to $7.7 billion in 2029 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to growth in popularity of personalized IVR, increasing internet penetration, rise in cloud-based IVR. Major trends in the forecast period include microfinance and digital banking, partnerships, collaborations, investments, product innovations, technological advancements of interactive voice response.

The increasing internet penetration is expected to drive the growth of the interactive voice response (IVR) market. Internet penetration refers to the percentage of the population or a specific region that has access to the Internet. IVR systems can enhance internet penetration by offering an accessible, voice-based interface for individuals who may not have direct internet access or prefer voice interactions. For example, in October 2023, the International Telecommunication Union, a Switzerland-based telecommunications agency, reported that 67% of the global population now uses the internet, marking a 4.7% growth since 2022, compared to a 3.5% increase from 2021 to 2022. In low-income countries, internet usage rose to 27% of the population, up from 24% in 2022. Therefore, the growth in internet penetration is driving the expansion of the interactive voice response market.

Major companies in the interactive voice response (IVR) market are focusing on developing innovative solutions, such as interactive voice response-to-text products, to gain a competitive advantage. These products aim to provide equal access to information and communication for all users, regardless of their device capabilities. For example, in May 2024, Verint, a US-based system software company, deployed its AI-powered bots, specifically the Verint Intelligent Virtual Assistant (IVA), to automate around 80% of its customer interaction traffic. This automation allows the company to allocate human resources more efficiently, ultimately enhancing service delivery.

In August 2023, RingCentral, Inc., a US-based IT services and consulting company, acquired Hopin for an undisclosed amount. The acquisition includes Hopin's technology assets, customer relationships, as well as its engineering, product, and go-to-market talent. This move aims to enhance RingCentral’s video solutions, enabling the company to offer customers a broader range of options and specialized video use cases for interactive events. Hopin is a US-based software development company specializing in virtual event technology.

Major companies operating in the interactive voice response market report are Verizon Communications Inc., AT&T Inc., TD Synnex, Cisco Systems Inc., Twilio Inc., Avaya Inc., Genesys Telecommunication Laboratories Inc., West Corporation, [24]7.ai Inc., Five9 Inc., 8X8 Inc., Aspect Software Parent Inc., Ameyo (Drishti Soft Solutions Pvt. Ltd.), Exotel Techcom Pvt. Ltd., Bitrix Inc., Callfire Inc., Handygo Technologies Pvt. Ltd., Agnity Global Inc., Istonish Inc., Evamp & Saanga, Nuance Communications Inc., Bay Talkitec Pvt. Ltd., IVR Lab, inContact Inc., Arise Virtual Solutions Inc.

North America was the largest region in the interactive voice response market in 2024. The regions covered in the interactive voice response market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the interactive voice response market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The interactive voice response (IVR) market consists of revenues earned by entities providing IVR services such as customer support, information retrieval, call routing, payment processing, surveys and feedback collection, emergency notifications and alerts, language selection, personalized messages, voice mail, and call-back services. The market value includes the value of related goods sold by the service provider or included within the service offering. The interactive voice response (IVR) market also consists of sales of computer hardware, telephony hardware, and text-to-speech (TTS) devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Interactive Voice Response (IVR) is a technology that enables computer systems to interact with humans using voice and DTMF tone input via a keypad. IVR systems enhance efficiency and improve the customer experience by managing high call volumes and providing self-service options.

The primary service types in IVR include installation, training and education, maintenance, and support. Installation involves implementing automated telephony systems that interact with callers through voice. IVR technologies can be speech-based or touch-tone-based, deployed through the cloud or on-premise, and cater to organizations of varying sizes, including small and medium enterprises (SMEs) and large enterprises. IVR systems find applications across various industry verticals, including banking, financial services and insurance (BFSI), travel and hospitality, pharmaceuticals and healthcare, telecommunications, government and public sector, transportation and logistics, information technology-enabled services (ITES), media, retail and e-commerce, education, and others.

The interactive voice response market research report is one of a series of new reports that provides interactive voice response market statistics, including interactive voice response industry global market size, regional shares, competitors with an interactive voice response market share, detailed interactive voice response market segments, market trends and opportunities, and any further data you may need to thrive in the interactive voice response industry. This interactive voice response market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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