This partnership provides call center software to over 10,000 companies across 100 countries to integrate their technologies for a cloud-based AI call center service. call center technology company Genesys to launch a contact center service powered by AI. For instance, in June 2021, SK Telecom Co., South Korea's largest mobile carrier, teamed up with U.S. This has created a positive scenario for the AI call center market, thereby elevating the revenue margin. AI call centers have recently risen in popularity as they can reduce tasks handled by traditional call center agents by using speech recognition and natural language processing technology to respond to simple and repetitive user queries. Post COVID-19, the size of the Korea Call Center AI Market is estimated to grow from $42.14 million in 2020 to reach $350.08 million by 2030, at a CAGR of 23.7%. The study provides Porter’s five forces analysis of the call center AI industry to understand impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the Call center AI market trends. The report focuses on the growth prospects, restraints, and Korea call center AI market analysis. Therefore, this factor creates great opportunities for AI-powered call center and consumer support services in South Korea. With high social media users, companies in South Korea are keen to provide superior customer support services through them. South Korea has the highest percentage (95%) of the population with internet accessibility along with one of the highest social media penetration rates with over 90% of the population availing social media services in some form. Every company has been expanding its presence on social media platforms to reach its consumers with more ease. Social media platforms have developed into a critical component of modern enterprises. Increasing AI capabilities and digital transformation in the region is expected to drive the growth of the Korea call center AI industry. Moreover, positive results from AI deployments in many sectors are influencing more organizations in the region to increase their investments in AI technology. According to a study conducted by the Korea Herald, service and manufacturing sectors have been ramping up their AI deployments and consist of over 91% of the country’s total AI solution consumption. South Korea has witnessed huge investments in AI technology from service and manufacturing sector companies in the past few years. In addition, increase in integration of new systems with existing ones at workplace and rapid surge in demand for implementation of new contact center software are expected to fuel the growth of this segment. Software allows customers to resolve product-related matters by themselves rather than depending on customer care executives. Call center AI solutions help financial institutions in flawlessly connecting with customers, improving customer experience, and lowering the response time, thereby increasing the overall efficiency.īy deployment, the global call center AI market share was dominated by the cloud segment in 2020, and is expected to maintain its dominance in the upcoming years, owing to growing popularity of interactive voice response (IVR) solutions to enable quick resolution of queries over calls. Currently, BFSI has the highest adoption of call center platforms and solutions as compared to other verticals. This is attributed to colossal adoption of chatbots/IVAs across various operations. On the basis of component, the solution segment dominated the Korea call center AI market share in 2020, and is expected to continue this trend during the forecast period. Right from the opening phrase of the call till the call ends, the agent is expected to carefully listen to the customer’s problem, analyze it, and provide an effective solution.ĪI call centers have recently risen in popularity as they can reduce tasks handled by traditional call center agents by using speech recognition and natural language processing technology to respond to simple and repetitive user queries. In the middle of this, a call center agent is expected to meet the fundamental requirement of ensuring excellent customer satisfaction. It requires dealing with hectic schedules, low budgets, handling furious customers, adjusting to shift timings, and many more. The work environment required in call centers is emotionally, physically, and mentally challenging. The Korea call center AI market size was valued at $42.14 million in 2020, and is projected to reach $350.08 million by 2030, registering a CAGR of 23.7% from 2020 to 2030. Korea Call Center AI Market Statistics: 2030
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