Advantage of IVR Solution for Insurance Companies

Interactive Voice Response Market, By Solution (Call Routing, Outbound, Self-Service), By Technology (Speech Based, Touch Tone Based, Text to Speech), By Service (Maintenance & Support), By Deployment (Cloud, On-Premise) - Forecast 2023Market InsightsInteractive Voice Response (IVR) is an automated system employed over the telephone to interact with callers to gather relevant information which then allows the system to direct the call accordingly.

Market Research Future's report on the global interactive voice response market sheds light on the various factors and figures of the market while making educated predictions about its future.

Increasingly being employed by a variety of business organizations, the global market is expected to reach an estimated value of USD 3.7 Bn by the end of 2023.Businesses are increasing their customer relationship management activities in an effort to sustain long-term relationships; this is a significant factor which is encouraging the growth of the IVR market.

IVR assists in ongoing customer relations by keeping up communication with them, and this can also be a good way to collect customer feedback which can ultimately be used to improve relations.

IVR systems are used to facilitate seamless communications with customers as it directs them to the concerned department of an organization, helps provide information, and increases brand awareness.

U.S and Canada are among the developed countries of the region, and IVR is adopted on a large scale in these countries across organizations of all sizes.

Voice SMS blast is specially designed for startups and SME's to spread communication effectively.

It is a powerful communication tool and allows the pre-recorded voice to be automatically broadcast to designated groups as well as can be programmed for capturing and storing an interactive response from targeted customers in the form of DTMF.

The position of one of the most advanced ways for cloud computing has been held by cloud communication technologies over the past few years. Current connected mobile workforce is capable of working from any location which has resulted in essentiality of secure communications. Embedding voice, video and messaging directly into software applications, cloud communication platform developers offer organisations with greater scalability, flexibility & business agility, reducing costs in the long term.

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Soaring demand for Customer-Centric Solutions to Propel the Growth of Global Cloud Communication Platforms Market

As per a study by Research Report Insights (RRI), cloud communication platforms have rendered easier communication primarily by mobile, social and online systems. In addition, cloud communication platforms provide enterprises to scale, build and deploy their communication systems by using solutions such as VoIP (Voice over Internet Protocol), IVR (Interactive Voice Response), WebRTC (Web Real-Time Communication), and UCC/UCaaS (Unified Communication and Collaboration).

According to the insightful market survey on cloud communication platforms on a global basis, the global cloud communication platform market is anticipated to expand at a higher pace to register a stellar 21.7% CAGR throughout the period of forecast. During the 2017-2027 timeline, the global market for cloud communication platforms is estimated to reach a market evaluation of US$ 12 Bn by the end of 2027 from a value of US$ 1.4 Bn in 2017

Widespread adoption of the trend- “bring your own device”, by several industries’ evolving work culture have fuelled the demand for the cloud communication platforms. Some prominent driver of the global cloud communication platforms market include benefits offered against over cost & rigid nature of traditional communication systems, and soaring demand for solutions that are customer-centric. However, factors such as depending on third party for cloud security & services, high initial investments, and privacy problems associated with cloud are expected to restrain the market growth.

Continuant Extends its Partnership with Tata Communications to Enhance Digital Cloud Communication Platforms

Various strategic partnerships and acquisitions have taken place in the global cloud communication platforms market. Continuant, provider of global managed services, recently announced extending its strategic partnership with Tata Communications, leading global communication & managed services provider, for the provision of dedicated hosted Cisco collaboration solutions to all enterprise customers across the globe. This partnership is expected to enhance digital cloud communication platforms. The result is one-stop-shop solution for industries pursuing completely managed and scalable cloud solutions.

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Communication Platform as a Service

Communication Platform as a Service (CPaaS), a cloud–based platform, enables developers in adding real-time communication features, such as messaging, video and voice, in their applications eliminating the need for building backend infrastructure & interfaces. A CPaaS provides complete development framework in building real-time communication features. This includes standards-based APIs (application programming interfaces), pre-built applications, software tools, and sample code. CPaaS provides also offer support & product documentation, helping developers in the development process. Few players also provide SDKs (software development kits) and libraries for constructing applications on several mobile and desktop platforms. Increasing adoption of CPaaS is expected to fuel the growth of global cloud communication platforms market in the near future.

Benefits Provided by CPaaS Include

• Easy development and embedding of communication features by using cloud technology
• Saving on infrastructure, human resources and time to market
• Affordable pricing models- ability to only pay for services that is needed by developers
• Provision of multi-tenancy or ability of utilisation of service by multiple customers at the same time
• Allowing developers to concentrate on constructing their applications in spite of underlying IT infrastructures

Partnership between Konftel and Huawei to Provide Conference Solutions

Konftel and Huawei recently entered into a partnership with an aim of providing conference solutions. Huawei Cloud UC solution’s certification of Konftel 300IP conference phone is the first visible result of this partnership. The strategy of Konftel in this partnership is optimisation and certification of their products for leading communication platforms. Designed for open world of IP communications, Konftel 300IP is based on SIP. Creating a firm sense of virtual presence, with the help of OmniSound audio technology, Konftel 300IP is equipped with smart features enabling efficient remote meeting, eliminating hassles. The versatility of Konftel 300Ip renders it to be compatible with the market’s leading communication platforms. This ensures complete access of all the market’s customers & users to this experience.

The global cloud communication platform market has profiled key players such as Cisco System Inc., IBM Corporation, Microsoft Corporation, Huawei Technologies Co. Ltd., Avaya Inc., Ozonetel Systems Pvt. Ltd., Bharti Airtel Ltd., Vodafone Group PLC., Mitel Networks Corporation, Dialogic Inc., Netfortris Inc., Knowlarity Communications Pvt Ltd., Exotel Techom Pvt. Ltd., VoiceTree Technologies Pvt., Ltd., and Gintel AS.

Report Analysis@ https://www.researchreportinsights.com/report/rd/110114826/Cloud-Communication-Platforms-Market

UpMarketResearch offers a latest published report on “Global Speech Based Interactive Voice Response Software Market Analysis and Forecast 2018-2025” delivering key insights and providing a competitive advantage to clients through a detailed report.

Get Free Exclusive PDF Sample Copy of This Report https://www.upmarketresearch.com/home/requested_sample/7191  The key consumption markets locate at developed countries.

Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

The numerical data is backed up by statistical tools such as SWOT analysis, BCG matrix, SCOT analysis, PESTLE analysis and so on.

The statistics are represented in graphical format for a clear understanding on facts and figures.

The generated report is firmly based on primary research, interviews with top executives, news sources and information insiders.

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The Global Interactive Voice Response (IVR) System Industry report showcases the latest trends in the global and regional markets on all critical parameters which include technology, supplies, capacity, production, profit, price, and competition.The key players covered in the report provide a detailed analysis of the competition and their developments in the Global Interactive Voice Response (IVR) System Industry.

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