Description:
Global Intelligent Virtual Assistant Market Information, by Technology (Text-to-speech, Speech recognition), by Application Vertical (BFSI, Healthcare, Automotive, E-Commerce, Aerospace, IT), by End User (Individual, Small & Medium Enterprises, Large Enterprises) - Forecast 2016-2027
Intelligent Virtual Assistant Market - Overview
IVA or Intelligent virtual assistant is new technological product and a computer-generated persona which helps the customer to provide information through smartphone, kiosk or a website by using text-based or voice based assistant. In the last few years, the IVAs have gain tremendous popularity over the traditional information centres. High use of smartphones among the youngsters and rapid changes in the technology are some of the major factors driving the market. As a major trend, social media holds major impact on growth of the global market. As the amount of people using social media platforms are increasing, they are becoming highly depended on the things they explore while making any purchase decision. On the other hand, IVAs are also becoming more popular among the retail industry. IVA helps retail industry in several ways including enhanced customer experience and analysing the buying behaviour of the customer in most efficient way.
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IVAs also helps the companies to generate data regarding the question and answers which people look for and make changes in their products offering. From industries such as healthcare where the IVAs helps to navigate the patients to banking sectors where IVAs helps the customers to minimize the work time. Intelligent Virtual Assistant system has proven to be one of the revolutionizing technology in the current technological environment.
Key Players
Nuance Communications (U.S.), Anboto (Spain), Google (U.S.), eGain (U.S.), CX Company (Netherlands), ViClone (Spain), Inbenta (U.S.), GetAbby (U.S.), Creative Virtual (U.K.), Next IT (U.S.) among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Intelligent Virtual Assistant Market. The competitive landscape is huge for intelligent virtual assistant market which includes BFSI, Healthcare, Automotive, E-Commerce, Aerospace, IT among others. Technological advancement and high integration of automation with the current infrastructure are some of the major factors driving the market growth.
Intelligent Virtual Assistant Global Market - Segmentation
- Segmentation by Technology: Text-to-speech and Speech recognition
- Segmentation by Application: Vertical: BFSI, Healthcare, Automotive, E-Commerce, Aerospace, IT among others
- Segmentation by End User: Individual, small & medium enterprises and large enterprises
- Segmentation by Verticals: BFSI, media & entertainment, travel & hospitality, web services, retail, and healthcare among others
Intelligent Virtual Assistant Global Market - Regional Analysis
Currently, North America region is dominating the market of intelligent virtual assistant. Countries such as U.S. and Canada who are one of most developed countries in terms of technology is driving the market of intelligent virtual assistant in North America. Also, high investment by the key companies in various industries for the development of new technology is also one of the major driving factor in North America. Europe stands as second largest market for IVA owing to several factors such as presence of developed countries and high adoption rate of new technologies. Asia-Pacific has emerged as one of the fastest growing. Urbanization and developing countries such as China and India show immense opportunity for virtual assistant systems. Also various public and private sector companies are also actively participating in the adoption of IVAs in their current infrastructure to provide maximum customer satisfaction.
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Intelligent Virtual Assistant Market A new market study, titled “Intelligent Virtual Assistant Market ” has been featured on Market Research Future.An intelligent virtual assistant is artificial intelligence (AI) based assistant powered by the internet and is capable of executing various functions as demanded.
It is installed in smart devices like smartphones, tablets, and personal computers (PCs).
The regular advancements and rise in demand for better services powered by cloud-based tools have empowered the market and are growing rapidly.
The companies are readily investing in research & development programs to unfold the new aspects, imposing an extra load on the market and will help the market gain accelerated speeds.More Information@Intelligent Virtual Assistant Market | IVA Market Size, Share, Forecast to 2027Intelligent Virtual Assistant Market is seeing a tremendous opportunities in the forecast period,…Read on marketresearchfuture.comApart from the uses and features, the global intelligent virtual assistant market faces challenges from high costs and lag in voice & language recognition, which has restrained the global market growth.
This report offers a complete outlook on the opposition, opportunities, drivers & restraints, and other factors affecting the neighborhood and global intelligent virtual assistant marketplace.
The worldwide market is anticipated to sign in approximately 34 % annual growth in this era.Market DivisionThe global intelligent virtual assistant market is segmented into classes as follows:The global intelligent virtual assistant market is characterized as Chatbot and smart speakers based on types of products.The global intelligent virtual assistant market is characterized as text to speech, automatic speech recognition based on technology.The global intelligent virtual assistant market is characterized by small and medium-sized enterprises (SMEs) and large enterprises based on enterprise size.The global intelligent virtual assistant market is divided among banking, financial services, and insurance (BFSI), IT & telecom, healthcare, consumer electronics, travel & hospitality, and others based on applications.Regional ClassificationThe intelligent virtual assistant market has gained global adoption due to the rapid digitalization; increasing demands advanced technologies and high disposable incomes.
Intelligent Virtual Assistant Market ReportWith the advent of artificial intelligence and the convergence of technology in many spheres of daily life, the intelligent virtual assistant market has grown correspondingly.
Market Research Future, a firm which specializes in market reports related to the information and communication technology sector among others, recently published a report on this market.
The market for virtual assistants is expected to grow steadily while demonstrating a dynamic CAGR rate.The content gathered for machine-learning software performance improvement has led to significant improvement in the sector for intelligent virtual assistant market.
Enhanced consumer experience is one of the main benefits that are driving the development of this particular sector.Industry SegmentsThe Global Intelligent Virtual Assistant Market comprises of the following categories:By Technology: Text-to-speech and Speech recognition.
IVA significantly supports the retail industry in several ways including enhanced customer experience and analyzing the buying behaviour of the customer in most efficient way.By End User: Individual, small & medium enterprises and large enterprises.By Region: North America, Europe, Asia-Pacific & RoW.Detailed Regional AnalysisNorth America is dominating the market of intelligent virtual assistant with a sizeable market share.
Asia-Pacific has appeared as fast growing market where as APAC has witnessed an encouragingly high CAGR.
