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Call Center AI Market to Grow by USD 4.3 Billion (2024-2028), Rising Adoption of Cloud-Based Call Centers Boosting Growth, with AI Impacting Market Trends – Technavio

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NEW YORK, Jan. 31, 2025 /PRNewswire/ — Report on how AI is redefining market landscape – The global call center artificial intelligence (AI) market size is estimated to grow by USD 4.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  27.17%  during the forecast period. Rising adoption of cloud-based call centers is driving market growth, with a trend towards integration of chatbots for better turnaround times. However, integration issues between front-end and back-end knowledge bases poses a challenge. Key market players include Alphabet Inc., Amazon.com Inc., Artificial Solutions International AB, Avaamo Inc., Avaya LLC, Conversica Inc., Creative Virtual Ltd., EdgeVerve Systems Ltd., Inbenta Holdings Inc., Jio Haptik Technologies Ltd., Kore.ai Inc., Microsoft Corp., NICE Ltd., Nuance Communications Inc., Oracle Corp., Pypestream Inc., Rulai, SAP SE, Talkdesk Inc., and Zendesk Inc..

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Call Center Artificial Intelligence (Ai) Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 27.17%

Market growth 2024-2028

USD 4300.6 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

20.98

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 36%

Key countries

US, China, UK, Germany, and Japan

Key companies profiled

Alphabet Inc., Amazon.com Inc., Artificial Solutions International AB, Avaamo Inc., Avaya LLC, Conversica Inc., Creative Virtual Ltd., EdgeVerve Systems Ltd., Inbenta Holdings Inc., Jio Haptik Technologies Ltd., Kore.ai Inc., Microsoft Corp., NICE Ltd., Nuance Communications Inc., Oracle Corp., Pypestream Inc., Rulai, SAP SE, Talkdesk Inc., and Zendesk Inc.

Market Driver

The Call Center AI market is experiencing significant growth as businesses seek to enhance customer engagement through AI technology. AI-powered chatbots and Intelligent Virtual Agents are trending, handling customer queries on social media platforms and mobile devices. Autonomous virtual agents are revolutionizing logistics and essential items sectors, while AI technology improves call center solutions with predictive call routing, interactive voice response, and call analytics. Retail sector leaders leverage AI for cross-selling and up-selling opportunities, while AI-enabled chatbots assist in technical network issues. Unsupervised self-learning and conversational AI are essential for NLP and ML-driven solutions. The market comprises solutions and services segments, with on-premises and cloud deployment options. AI platforms offer control compliance suites and omnichannel solutions, ensuring data privacy and security measures. Energy, IT and Telecom, and healthcare industries are adopting AI for quality assurance technology and emotional intelligence. Data analytics skills are crucial for implementing AI platforms, while cloud computing services streamline contact center operations. Despite advancements, challenges persist, including data breaches and hacking concerns, requiring ongoing privacy impact assessments and security measures. 

Call centers are essential for providing customer service, but delays in resolving queries can lead to customer dissatisfaction and potential loss of business. To address this issue, call centers are integrating Artificial Intelligence (AI) in the form of chatbots. These AI tools can handle simple queries efficiently, freeing up human agents to focus on more complex issues. By providing quick and accurate responses, chatbots enhance the overall customer experience, contributing to business success. 

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Market Challenges

The Call Center AI market is experiencing significant growth due to the increasing demand for automated customer engagement solutions. Challenges such as managing customer queries on social media platforms, delivering personalized service through chatbots and autonomous virtual agents, and addressing logistics and essential items inquiries require advanced AI technology. However, integrating AI into call centers brings new challenges, including data ownership, privacy impact assessments, and security measures for Personally Identifiable Information. Retail, IT and Telecom, Energy, and Healthcare sectors are major adopters of AI-powered chatbots and Intelligent Virtual Assistants. Solutions include predictive call routing, interactive voice response, call analytics, and emotional intelligence. The Services and Cloud Deployment segments dominate the market, with e-commerce and omnichannel solutions being key growth areas. Despite the benefits, AI implementation comes with risks such as data breaches and hacking. AI platforms must comply with control compliance suites and quality assurance technology to mitigate these risks. Cross-selling and up-selling opportunities are significant, but human sales reps and call center agents must adapt to work alongside AI technology. Historic data analysis, NLP, and ML are essential data analytics skills for AI platform models. Unsupervised self-learning and conversational AI are essential for handling complex customer queries. Cloud computing services enable scalability and cost savings. Technical network issues and AI-enabled chatbots and virtual agents require continuous monitoring and maintenance. The AI technology market is expected to grow, with the energy industry and healthcare sectors being major adopters.The integration of Call Center Artificial Intelligence (AI) in the form of chatbots is gaining popularity among various industries such as BFSI, telecom, healthcare, and media. However, the adoption of these advanced technologies brings about challenges related to system integration and interoperability. Vendors must offer unified IT solutions to manage these bots, ensuring seamless integration with the existing IT infrastructure of organizations. Chatbots should be integrated both at the front end and back end to provide a comprehensive solution. The integration process can be complex due to different knowledge bases used by organizations and chatbots. To avoid overlap or the creation of multiple knowledge bases, it is crucial to implement a well-planned and executed integration strategy.

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Segment Overview

This call center artificial intelligence (ai) market report extensively covers market segmentation by  

End-user1.1 BFSI1.2 Retail and e-commerce1.3 IT and telecom1.4 Media and entertainment1.5 OthersChannel 2.1 Phone2.2 Chat2.3 Email or text2.4 Social media2.5 WebsiteGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 BFSI-  The BFSI sector, with its large global customer base, has been an early adopter of call center AI technologies. The rise of mobile technology has facilitated authentication, detail exchange, and transaction conduct. Leading banks like Bank of America, J.P. Morgan Chase, and Capital One have integrated AI technologies to enhance customer engagement and automate operations. In the competitive financial services industry, superior customer service is vital for customer satisfaction and cost reduction. Unaddressed inquiries result in missed revenue opportunities and increased attrition. Banks utilize chatbots to support mobile apps, providing 24/7 customer service. Chatbots assist with banking activities, such as balance checking, bill payment, and fund transfers. Personal finance management (PFM) chatbots and analytics enable users to plan savings goals and optimize spending. AI predictive systems, integrated with customer accounts, analyze spending patterns and offer real-time financial advice. Chatbots simplify financial terminology, saving customers time. For instance, Cleo, a personal finance bot, uses machine learning to understand spending patterns from customer data, providing personalized insights. These factors fuel the growth of the BFSI segment in the global call center AI market.

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Research Analysis

The Call Center Artificial Intelligence (AI) market is experiencing significant growth due to the increasing demand for enhanced customer engagement. AI technologies such as chatbots, autonomous virtual agents, and unsupervised self-learning are revolutionizing call centers by automating customer queries and providing 24/7 support. AI-enabled chatbots and virtual agents are becoming increasingly popular in various industries, including IT and Telecom, healthcare, e-commerce, and logistics. The Services segment and Cloud deployment segment are leading the market growth, offering flexibility and cost-effective solutions. AI is also being integrated into omnichannel solutions, quality assurance technology, and interactive voice response systems to provide seamless customer experiences. Social media platforms are also being integrated with AI to handle customer queries and complaints effectively. AI’s ability to control compliance suites and provide personalized solutions is further driving the market growth.

Market Research Overview

The Call Center Artificial Intelligence (AI) market is revolutionizing customer engagement by integrating AI technology into various call center functions. AI-powered chatbots and Intelligent Virtual Agents handle customer queries on social media platforms and mobile devices, providing instant responses and personalized assistance. Autonomous virtual agents manage logistics and essential items orders, freeing up human sales reps and call center agents for more complex tasks. Historic data analysis enables cross-selling and up-selling opportunities, while AI platforms use Natural Language Processing (NLP) and Machine Learning (ML) to understand customer needs and provide solutions. Solutions include on-premises and cloud deployment models, catering to the retail sector, IT and Telecom, energy industry, and healthcare. AI enables predictive call routing, interactive voice response, call analytics, and emotional intelligence, offering omnichannel solutions and quality assurance technology. However, data ownership, privacy impact assessments, security measures, and compliance suites are crucial considerations to ensure data protection and prevent data breaches and hacking.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userBFSIRetail And E-commerceIT And TelecomMedia And EntertainmentOthersChannelPhoneChatEmail Or TextSocial MediaWebsiteGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Bloomberg Introduces Spread-to-Benchmark Quoting for EUR and GBP Portfolio Trading Baskets

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LONDON, June 2, 2026 /PRNewswire/ — Bloomberg today announced the launch of Spread-to-Benchmark quoting and trading for Euro (EUR) and Sterling (GBP) denominated portfolio trades through its Portfolio Trading Basket Builder (PTBB). The new functionality expands the range of quoting protocols available for European credit portfolio trading and reflects growing client demand for spread-based execution workflows, alongside increased dealer support for the convention across EUR and GBP markets.

Spread-to-Benchmark quoting is a well-established protocol for USD credit portfolio trades and is used by market participants to evaluate and execute portfolio trades. By extending this workflow to EUR and GBP portfolio trades, Bloomberg enables clients and dealers to transact using a familiar spread-based methodology across additional credit markets. 

The introduction of Spread-to-Benchmark quoting for EUR and GBP baskets reflects increased client interest in evaluating portfolio trades through a spread-based lens and the growing adoption of spread-based execution workflows in European credit markets. The workflow provides market participants with an additional framework for assessing the relationship between credit spread risk and underlying government bond yields when pricing and executing portfolio trades. 

Additional Workflow Flexibility 
The workflow complements Bloomberg’s existing portfolio trading capabilities, which support the full range of market-standard quoting conventions, including Price, Yield, Spread-to-Benchmark and Spread based workflows that reference Bloomberg’s evaluated pricing service (BVAL). This gives clients flexibility to compare and execute portfolio trades using the quoting methodology that best aligns with their investment objectives, execution preferences and internal risk management processes. 

“European credit clients continue to look for execution workflows that reflect how they evaluate risk and monitor portfolio trading outcomes,” said Harry Street, Global Head of Credit and Equities Trading Product at Bloomberg. “By expanding dealer support for Spread-to-Benchmark quoting for EUR and GBP baskets, Bloomberg is broadening the range of workflow options available to clients trading European credit portfolios.” 

“Portfolio trading workflows in fixed income continue to become more sophisticated as institutional investors look for ways to evaluate execution quality in changing market conditions,” said Kevin McPartland, Head of Market Structure & Technology Research at Crisil Coalition Greenwich. “Spread-based quoting helps market participants more clearly distinguish between the impacts of credit spread and underlying rates movements when determining how best to execute a portfolio trade.” 

Bloomberg’s Electronic Markets solutions are used by leading financial institutions to trade efficiently in over 175 markets around the world. More than 9,000 client firms use Bloomberg Electronic Markets to access industry-leading depth and breadth of liquidity across asset classes from over 800 dealers globally. Bloomberg Electronic Markets provides market participants with comprehensive solutions across the trading lifecycle, including robust price transparency, analytics, automation and execution, powered by Bloomberg’s high-quality, multi-asset class data and tools.

About Bloomberg
Bloomberg is a global leader in business and financial information, delivering trusted data, news, and insights that bring transparency, efficiency, and fairness to markets. The company helps connect influential communities across the global financial ecosystem via reliable technology solutions that enable our customers to make more informed decisions and foster better collaboration. For more information, visit Bloomberg.com/company or request a demo.

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SOURCE Bloomberg L.P.

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Dr. Sunho Kang, a senior battery-technology executive with leadership experience at major global battery and EV manufacturers, joins TeraWatt Technology as Head of Product and Technology

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SAN FRANCISCO, June 2, 2026 /PRNewswire/ — TeraWatt Technology Inc. (Headquartered in California, USA) is pleased to announce that Dr. Sunho Kang has joined the company as Head of Product and Technology.

Dr. Kang is a globally recognized battery-technology executive with more than 25 years of leadership experience spanning the United States, Asia, and Europe, and a distinguished track record of advancing innovations from laboratory research through gigafactory-scale production. He has held senior executive positions at world-leading organizations including Samsung SDI, Apple, and Volkswagen Group of America, and brings deep expertise in lithium-ion battery materials, cell engineering, and product industrialization across a broad range of applications, including electric vehicles and energy storage systems.

At TeraWatt, Dr. Kang will lead global product development and the commercialization of TeraWatt’s battery technology platform, aiming to accelerate the delivery of TeraWatt’s competitive products as well as the technology and commercialization roadmap including manufacturing scale-up.

Dr. Kang commented:

“I am thrilled to join TeraWatt Technology as Head of Product and Technology. TeraWatt’s innovative battery platform presents a tremendous opportunity to push the boundaries of lithium-ion technology, and I look forward to working with the team to accelerate product development and commercialization to deliver meaningful impact.”

TeraWatt Technology founder CEO Ken Ogata, Ph.D. commented:

“We are thrilled to welcome Dr. Kang as our Head of Product and Technology. His deep expertise in battery materials, cell engineering, and productization will be instrumental in accelerating TeraWatt’s product roadmap and technology leadership. Together with Dr. Kang, we will continue to drive our mission forward.”

About TeraWatt Technology Inc.
TeraWatt Technology Inc. is a California-based company that produces lightweight, high-power, and safe next-generation lithium-ion batteries.

Company Overview
Name: TeraWatt Technology Inc.
Representative: Co-founder and CEO Ken Ogata
Headquarters: 28 Geary St, Suite 650, San Francisco, CA 94108, United States
Founded: January 2020
Established: December 2019
URL: https://www.terawatt-technology.com/

 

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SOURCE TeraWatt Technology Inc.

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Tencent Cloud and Soniox Announce Strategic Partnership: Combining Advanced Speech-to-Text (STT) Technology with Global Real-Time Infrastructure

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HONG KONG, June 2, 2026 /PRNewswire/ — Tencent Cloud, the cloud business of global technology company Tencent, today announced a strategic partnership with Soniox, a San Francisco-based speech AI company that specializes in developing high-accuracy, low-latency speech AI solutions. The collaboration integrates Soniox’s speech-to-text (STT) technology with Tencent Cloud’s Real-Time Communication (TRTC) enterprise-grade global infrastructure, enabling enterprises to build and deploy multilingual voice AI applications across 200+ countries and regions.

Elevating Enterprise Voice AI at a Global Scale

In enterprise voice AI deployments, latency directly affects user experience and application reliability. The integration of Soniox’s high-accuracy, low-latency STT with TRTC’s global transmission infrastructure reduces latency across the entire pipeline, creating a comprehensive end-to-end solution for enterprises deploying conversational AI applications worldwide.    

Soniox is the voice platform for every language. Unlike legacy speech AI, which was built primarily for English-speakers, Soniox delivers native-speaker accuracy across 60+ languages. Its technology can handle mid-sentence language switching — a user can switch between English and Chinese in a single utterance, and Soniox will capture every word with complete accuracy. All of this works through a single API that works for both speech-to-text and text-to-speech.

By integrating TRTC, the partnership leverages an enterprise-grade real-time communication backbone featuring more than 3,200 global nodes, sub-300 ms worldwide latency, and advanced capabilities such as AI noise suppression and weak-network resilience. These capabilities enable conversational AI applications to operate reliably across diverse network environments, including regions such as Southeast Asia and Africa.

With the roll out of this partnership, developers can integrate the Soniox STT API directly within the Tencent Cloud console. Whether targeting English-speaking markets or supporting languages such as Arabic, Hindi, and Malay, enterprises can build global voice applications — including intelligent customer service, voice assistants, real-time translation, and meeting transcription — to address the demands of expansion into emerging markets and multilingual scenarios.

Wison Xie, Head of Product at Tencent RTC, stated: “Tencent RTC has always been committed to providing reliable real-time communication infrastructure for global enterprises. Our partnership with Soniox brings together our strengths in enterprise-grade audio transmission and Soniox’s advanced speech recognition technology. Together, we are making it easier for businesses to deploy accurate, low-latency voice AI applications across any language and any market.”

Klemen Simonic, CEO at Soniox Inc., stated “At Soniox, our mission is to help businesses understand every word, in any language, with native speaker accuracy and exceptional speed. Partnering with Tencent Cloud combines our speech AI with world-class real-time infrastructure, enabling enterprises to build voice AI experiences that scale globally with low latency and reliability.”

About Tencent Cloud:

Tencent Cloud, one of the world’s leading cloud companies, is committed to creating innovative solutions to resolve real-world issues and enabling digital transformation for smart industries. Through our extensive global infrastructure, Tencent Cloud provides businesses across the globe with stable and secure industry-leading cloud products and services, leveraging technological advancements such as cloud computing, Big Data analytics, AI, IoT, and network security. It is our constant mission to meet the needs of industries across the board, including the fields of gaming, media and entertainment, finance, healthcare, property, retail, travel, and transportation.

About Tencent RTC:

Tencent RTC provides real-time communication solutions, including audio/video calling, live streaming, and in-game voice. With enterprise-grade security, AI-powered enhancements, and a global network of over 3,200 nodes, Tencent RTC powers mission-critical communication for customers worldwide.

About Soniox:

Soniox is a next-generation voice AI company bringing about the end of English-first speech AI. Most people on the planet did not grow up speaking English and often mix languages mid-sentence; and yet legacy speech AI was built for just English. Soniox is different: native-speaker accuracy across 60+ languages, true mid-sentence language switching, and flawless alphanumeric recognition that legacy providers still can’t match. For developers building global apps, Soniox is the only option. Try it for yourself at soniox.com.

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SOURCE Tencent Cloud

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