Inbound Call Tracking Software Market Size (2023-2030)

The Global Inbound Call Tracking Software Market was estimated to be worth USD 2.75 Billion in 2022 and is anticipated to reach a value of USD 7.25 Billion by 2030, growing at a fast CAGR of 12.89% during the forecast period 2023-2030.

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Inbound call tracking software is an advanced technology tool that is used to monitor and analyze incoming phone calls. These are used by businesses for managing customer queries and sales processes, as it provides insights about sales and marketing campaigns, customer service analysis, and call-handling operations. Some of the most common features of inbound call tracking software include call analytics that enables companies to gain insights about the call duration, call source or geographic location, date and time, type of query or service, and others; integration to attribution software, lead generation tools, automatic call recording and monitoring, integration with other CRM platforms, and other features. Furthermore, the rising number of mobile phone users has contributed to the demand for inbound call-tracking software in the market.

Global Inbound Call Tracking Software Market Drivers:

The increase in the usage of mobile phones has contributed to the demand for inbound call-tracking software in the market

With the rise in digitization during and post-pandemic, mobile phones have become an important aspect for consumers. Right from working, studying, shopping, or for searching something, mobile phones have made it easier for people to complete complex and repetitive tasks easily. This has further raised the demand for inbound call tracking software by companies as it helps them to understand consumer behavior and pain points, which helps them to make better business decisions. In addition, with the advent of technology, consumers can connect easily with companies and organizations using mobile phones. This includes making use of CTA (Cal-To-Action) buttons on websites that directly places call to the desired company. Further, businesses are now investing in mobile-focused and mobile-first marketing campaigns such as SMS ads, mobile ads, and social media ads, that help businesses generate potential leads and measure the success of the marketing campaign whenever a consumer places a call for a product or service inquiry or for raising queries.

Technological advancements have boosted the demand for inbound call-tracking software in the market

Technological advancements such as the emergence of AI and machine learning have transformed businesses and streamlined daily operations. With the help of AI-enabled call tracking software, businesses can gather insights related to a telephonic conversation and generate reports by voice and speech recognition, customer emotion, call intention, and others. Moreover, AI and machine learning algorithms help businesses to remotely monitor call activities and forecast the conversion rate based on telephonic conversation. Additionally, natural language processing can track online chats and social media interactions that directed consumers into calling companies for a particular product or service and hence helps businesses in determining the consumer journey. Apart from this, this advanced software allows businesses to integrate with automated marketing tools, CRM platforms, and analytics platforms for enhanced data analysis.

Global Inbound Call Tracking Software Market Challenges:

Data privacy and regulations issues can reduce the demand for inbound call tracking software in the market. Some regions or countries may have stringent data privacy regulations that limit the usage of collecting personal information or tracking via tracking software.

Global Inbound Call Tracking Software Market Opportunities:

The Global Inbound Call Tracking Software Market is anticipated to deliver lucrative opportunities for businesses, which include acquisitions, partnerships, collaborations, product launches, and agreements during the forecasted period. Furthermore, the rising number of mobile phone users and growing trends in digital marketing due to rapid digitization are predicted to develop the market for Inbound Call Tracking Software and enhance its future growth opportunities.

COVID-19 Impact on the Global Inbound Call Tracking Software Market:

The pandemic had a significant impact on the inbound call tracking software. Due to the lockdown, there was a shift in communication from mobile to online video conferencing and chatting, which reduced the demand for inbound call-tracking software in the market. Further, due to the closure of major industries such as hospitality, automotive, food and beverage, retail, and others, there was a decline in demand for call-tracking software. However, the healthcare sector increasingly demanded inbound call tracking software for making healthcare services accessible to all, for appointment scheduling, for understanding the effectiveness of drug and vaccine deliveries, and for telehealth and patient communication.

INBOUND CALL TRACKING SOFTWARE MARKET REPORT COVERAGE

Global Inbound Call Tracking Software Market Segmentation: By Enterprise Size

• Small and Medium-Sized Enterprises

• Large Enterprises

Based on market segmentation by enterprise size, large enterprises occupy the highest share of the market. Large businesses have typically large marketing budgets and complex business operations, which require advanced software tools such as inbound call tracking software for managing and monitoring calls. Furthermore, software used by large businesses is equipped with premium and advanced features such as advanced AI support for performing caller sentiment analysis and analyzing customer behavior. In addition, due to multiple projects running simultaneously in large enterprises, there is an increase in demand for inbound call tracking software with integration features that enable integration with marketing automation tools and sales CRM platforms for faster and enhanced business operation.

Global Inbound Call Tracking Software Market Segmentation: By Deployment

• Cloud

• On-Premise

Based on market segmentation by deployment, the cloud occupies the highest share of the market. Cloud-based inbound call tracking software enables companies to remotely manage, monitor, and analyze call data on a third-party service provider. These platforms offer greater scalability and accessibility that enable business organizations to track calls from any device and any location via Internet connectivity.

On-premise segment is the fastest-growing segment during the forecast period. On-premise inbound calling software offers complete control to companies over their data, as the software is installed on the company’s local server and protects them from data and privacy breaches issues. In addition, the software comes with a customization feature that allows companies to tailor the software to their needs.

Global Inbound Call Tracking Software Market Segmentation: By Industry

• E-commerce

• Travel & Hospitality

• Education

• Healthcare

• Others

Based on market segmentation by industry, e-commerce occupies the highest share of the market. E-commerce is the major user of inbound call tracking software, as they require tracking their consumers’ behavior for providing enhanced customer service/support to them. These include analyzing the customer journey via monitoring their engagement with CTA buttons, understanding their pain points and product and service inquiries by voice and speech recognition analysis; and by sentiment analysis. Further, the software enables e-commerce platforms to automatically record calls and identify factors that businesses can improve to gain successful returns. Travel & Hospitality segment is the fastest-growing segment during the forecast period. The travel and hospitality segment includes hotels, restaurants, airlines, cafes, resorts, and others that heavily rely on customer behavior and phone calls. Inbound call tracking software enables them to improve customer service by collecting real-time feedback, addressing customers’ queries or complaints, and providing a seamless booking experience to consumers. One of the major uses is for reservation and marketing tracking, which offers businesses in the travel & hospitality segment to track the source of customer calls and optimize marketing campaigns for achieving overall business efficiency.

Global Inbound Call Tracking Software Market Segmentation: By Region

• North America

• Europe

• Asia Pacific

• Middle East and Africa

• South America

Based on market segmentation by region, North America occupies the highest share of the market. Growing trends in digital and multi-channel marketing and increasing demand for call-tracking software from the financial sector have contributed to the demand for inbound call-tracking software in the region. The region has a rich presence of established financial services companies such as investment firms, insurance companies, and credit analysis companies that require call tracking software to generate leads for buying their services and enhancing customer service. Further, the software allows them to analyze peak call hours and calling patterns for managing customer queries and for optimizing marketing campaigns efficiently. Asia-Pacific is the fastest-growing segment during the forecast period. Rising internet penetration and the booming e-commerce industry have contributed to the demand for inbound call-tracking software in the region.

Global Inbound Call Tracking Software Market Key Players:

1. Retriever

2. Ringba

3. Call Rail

4. Salesken

5. Call Tracking Metrics

6. Infinity Co

7. Invoca

8. Novocall

9. Vibtree