The call center AI market is fragmented, with a number of players, such as International Business Machines Corporation, Oracle Corporation, Microsoft Corporation, Amazon Web Services Inc., and Google LLC, operating in the domain. The market players are launching products and engaging in partnerships, acquisitions, and agreements in order to cater to the surging demand for call center AI solutions and for strengthening their position in the market.

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For example, Lenovo Group Limited entered into a multi-year agreement with International Business Machines Corporation for deploying call center AI solutions, such as weather alerting, virtual assistant for technical support, and augmented reality, in various regions, including LATAM, Middle-East and Africa, and North America, for $240 million.   

On the basis of geography, North America and Europe together held over 43.4% share of the call center AI market in 2018. This was due to the increasing investments for leveraging AI to automate operations in call centers, presence of established players in the regions, bettering customer experience, advancements in voice recognition technology, and enhanced work productivity of agents.

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Apart from this, Asia-Pacific (APAC) and Latin America (LATAM) demonstrate strong growth potential because of various factors, including evolving customer expectations, improving employee productivity, presence of large number of call centers, and growing rate of innovation. The largest share in APAC was held by China in 2018, with a revenue of $54.5 million.

In terms of solution, the chatbot category dominated the call center AI market in 2018 because of the rising requirement for chatbots in various industries, such as retail & e-commerce, BFSI, telecom, and media & entertainment. The intelligent virtual assistant (IVA) is expected to grow at the fastest pace, with a 23.0% CAGR, during the forecast period, as it offers productive conversation with customer, personalized experience to the customers, 24x7 availability through voice or text, and omnichannel deployment.