Interactive Voice Response (IVR) is a technology that enables communication between a computer system and a human. The interaction is made possible using voice and Dual-tone multi-frequency (DTMF) tones input using a keypad. The IVR systems allow the customers to interact with the company’s host system either by using a telephone keypad or through speech recognition. The IVRs are capable of responding to a customer’s query using a prerecorded or dynamically generated voice. The IVRs can be used in multiple verticals, such as banking, financial services and insurance (BFSI), travel and hospitality, information technology-enabled services (ITES), pharma and healthcare, telecommunications, government and public sector, transportation and logistics, media, retail and e-commerce, education, and others."

Visionary leaders are the leading players in the market having a robust service portfolio, a strong market presence, and also effective business strategies. These players have a broad product portfolio which enables to serve most of the regions all over the world. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and well-established brand equity.

Several companies in the interactive voice response market are largely dependent on their competitive research and development (R&D) activities. These companies are known as dynamic differentiators and are usually classified under tier 2 and tier 3 companies, which have a presence in various regions worldwide.

The players involved in the development and innovation of new or upgraded technology integrated with interactive voice response have been included in this quadrant. There is a high demand for interactive voice response systems worldwide; therefore, new players can make an impact on the said market by launching new products.

As the market poses a moderate threat to new entrants in establishing their footprint, there are several players that are providing IVRs to diverse clientele groups worldwide.