For a company to create brand loyalty, it is important to listen to what customers have to say and resolve their queries as quickly and efficiently as possible. That is why most large companies have a contact or call center, or outsource these tasks to one. When people call the customer support number, they are greeted by a human-like voice that gives them directions, asking them to press certain numbers on the dial pad depending on the purpose of calling.
Hence, with the growing number of contact centers around the world, P&S Intelligence forecasts the voice assistant market value to increase from $1,723.6 million in 2019 to $26,872.6 million by 2030, at a CAGR of 29.7% between 2020 and 2030 (forecast period). This is because such a human-like voice is generated at contact centers by sophisticated voice assistant software.
Moreover, the even-more-advanced voice assistant software can talk like a human, rather than just offering directions, reacting to what someone at the other end of the phone is saying. They use a variety of technologies to understand human speech and then converse accordingly, such as speech recognition, voice recognition, text-to-speech recognition, and natural language processing (NLP).
These technologies help the assistant or chatbot understand the tone, to identify the mood and feeling of the customer, so an appropriate response can be given or the call can be transferred to an actual human employee at the contact center. Even many websites now employ a chatbot (message box) powered by a voice assistant, rather than a human, at least during the initial stages of the conversation.
This market research report provides a comprehensive overview of the market
Hence, with the growing number of contact centers around the world, P&S Intelligence forecasts the voice assistant market value to increase from $1,723.6 million in 2019 to $26,872.6 million by 2030, at a CAGR of 29.7% between 2020 and 2030 (forecast period). This is because such a human-like voice is generated at contact centers by sophisticated voice assistant software.
Moreover, the even-more-advanced voice assistant software can talk like a human, rather than just offering directions, reacting to what someone at the other end of the phone is saying. They use a variety of technologies to understand human speech and then converse accordingly, such as speech recognition, voice recognition, text-to-speech recognition, and natural language processing (NLP).
These technologies help the assistant or chatbot understand the tone, to identify the mood and feeling of the customer, so an appropriate response can be given or the call can be transferred to an actual human employee at the contact center. Even many websites now employ a chatbot (message box) powered by a voice assistant, rather than a human, at least during the initial stages of the conversation.
This market research report provides a comprehensive overview of the market
- The Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
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