Press Resease

Intelligent Virtual Assistant Market by Technology (Text-to-Speech and Speech Recognition), by Application (Chatbots and Smart Speakers), by End-Use (Private and Commercial), and by Industry Vertical (Retail, BFSI, Automotive, Travel & Tourism, Government Sector, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2025

Published Date: 24-Jan-2019 Category: Technology & Media Report Format : PDF Pages: 146 Report Code: ZMR-2609 Status : Published

Global intelligent virtual assistant market expected to reach USD 19.6 billion globally by 2025, at a CAGR of 35.4% between 2019 and 2025. The global intelligent virtual assistant market is likely to be driven by the increasing use of smart speakers for residential applications in the future.

Description

The report analyzes and forecasts the intelligent virtual assistant market on a global and regional level. The study offers historical data for 2016, 2017, and 2018 along with forecast from 2019 to 2025 based on revenue (USD Billion). The assessment of intelligent virtual assistant market dynamics gives a brief insight into the drivers and restraints for the intelligent virtual assistant market along with the impact they have on the demand over the years to come. Additionally, the report also includes the study of opportunities available in the intelligent virtual assistant market on a global level.

The report gives a transparent view of the intelligent virtual assistant market. We have included a detailed competitive scenario and portfolio of leading vendors operating in the intelligent virtual assistant market. To understand the competitive landscape in the intelligent virtual assistant market, an analysis of Porter’s Five Forces model for the market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Global Intelligent Virtual Assistant Market

The study provides a crucial view of the intelligent virtual assistant market by segmenting the market based on technology, application, end-use, industry vertical, and region. All the segments of the intelligent virtual assistant market have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. Based on technology, the global intelligent virtual assistant market is segmented into text-to-speech and speech recognition. Chatbots and smart speakers form the application segment of the global intelligent virtual assistant market. Private and commercial sectors comprise the end-use segment of the intelligent virtual assistant market. The industry vertical segment includes retail, BFSI, automotive, travel and tourism, government sector, and others. The regional segmentation comprises the current and forecast demand for the Middle East and Africa, North America, Asia Pacific, Latin America, and Europe of the intelligent virtual assistant market with further division into the U.S., Canada, Mexico, UK, France, Germany, China, Japan, India, South Korea, Brazil, and Argentina, among others.

Some key players of the global intelligent virtual assistant market include Microsoft Corporation, Alphabet Inc., Apple Inc., Nuance Communications Inc., Next IT Corporation, IBM Corporation, Amazon, Inc., eGain Communications Corp., Artificial Solutions Ltd., and Speaktoit Inc., among others.

This report segments the global intelligent virtual assistant market into:

Global Intelligent Virtual Assistant Market: Technology Analysis

  • Text-To-Speech
  • Speech Recognition

Global Intelligent Virtual Assistant Market: Application Analysis

  • Chatbots
  • Smart Speakers

Global Intelligent Virtual Assistant Market: End-Use Analysis

  • Private
  • Commercial

Global Intelligent Virtual Assistant Market: Industry Vertical Analysis

  • Retail
  • BFSI
  • Automotive
  • Travel and Tourism
  • Government Sector
  • Others

Global Intelligent Virtual Assistant Market: Regional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report Description
      • 1.1.1. Objective
      • 1.1.2. Target Audience
      • 1.1.3. Unique Selling Proposition (USP) & Offerings
    • 1.2. Research Scope
    • 1.3. Research Methodology
      • 1.3.1. Market Research Process
      • 1.3.2. Market Research Methodology
      • 1.3.3. Level 1: Primary Research
      • 1.3.4. Level 2: Secondary Research
      • 1.3.5. Level 3: Data Validation and Expert Panel Assessment Report Description and Scope
  •  
  • Chapter 2. Executive Summary
    • 2.1. Global Intelligent Virtual Assistant Market, 2016-2025 (USD Billion)
    • 2.2. Intelligent Virtual Assistant Market: Market Snapshot
  •  
  • Chapter 3. Global Intelligent Virtual Assistant Market - Industry Analysis
    • 3.1. Introduction
    • 3.2. Industry ecosystem analysis
    • 3.3. Technology landscape
    • 3.4. Market Drivers
      • 3.4.1. North America
      • 3.4.2. Europe
      • 3.4.3. Asia Pacific
        • 3.4.3.1. Rising demand for smart speakers
      • 3.4.4. Latin America
      • 3.4.5. Middle East and Africa
    • 3.5. Restraints
      • 3.5.1. Complexity in system integrations
    • 3.6. Opportunity
      • 3.6.1. Introduction of autonomous vehicles
    • 3.7. Innovation & sustainability
    • 3.8. Regulatory landscape
    • 3.9. Porter's Five Forces Analysis
    • 3.10. PESTLE Analysis
    • 3.11. Intelligent Virtual AssistantMarket: Market Attractiveness Analysis
      • 3.11.1. Market Attractiveness Analysis by Technology
      • 3.11.2. Market Attractiveness Analysis by Application
      • 3.11.3. Market Attractiveness Analysis by End-Use
      • 3.11.4. Market Attractiveness Analysis by Industry Vertical
      • 3.11.5. Market Attractiveness Analysis by Region
  •  
  • Chapter 4. Global Intelligent Virtual Assistant Market - Competitive Landscape
    • 4.1. Company Market Share Analysis, 2018
    • 4.2. Strategic Development
      • 4.2.1. Acquisitions and Mergers
      • 4.2.2. New Product Launch
      • 4.2.3. Agreements, Partnerships, Collaborations, and Joint Ventures
      • 4.2.4. Research & Development and Regional Expansion
  •  
  • Chapter 5. Intelligent Virtual Assistant Market - Technology Analysis
    • 5.1. Global Intelligent Virtual Assistant Market Revenue Share, by Technology, 2018 & 2025 (USD Billion)
    • 5.2. Global Intelligent Virtual Assistant Market by Text-to-Speech, 2016 - 2025 (USD Billion)
    • 5.3. Global Intelligent Virtual Assistant Market by Speech Recognition, 2016 - 2025 (USD Billion)
  •  
  • Chapter 6. Intelligent Virtual Assistant Market - Application Analysis
    • 6.1. Global Intelligent Virtual Assistant Market Revenue Share, by Application, 2018 & 2025 (USD Billion)
    • 6.2. Global Intelligent Virtual Assistant Market by Chatbots, 2016 - 2025 (USD Billion)
    • 6.3. Global Intelligent Virtual Assistant Market by Smart Speakers, 2016 - 2025 (USD Billion)
  •  
  • Chapter 7. Intelligent Virtual Assistant Market - End-Use Segment Analysis
    • 7.1. Global Intelligent Virtual Assistant Market Revenue Share, by End-Use, 2018 & 2025 (USD Billion)
    • 7.2. Global Intelligent Virtual Assistant Market by Private, 2016 - 2025 (USD Billion)
    • 7.3. Global Intelligent Virtual Assistant Market by Commercial, 2016 - 2025 (USD Billion)
  •  
  • Chapter 8. Intelligent Virtual Assistant Market - Industry Vertical Analysis
    • 8.1. Global Intelligent Virtual Assistant Market Revenue Share, by Industry Vertical, 2018 & 2025 (USD Billion)
    • 8.2. Global Intelligent Virtual Assistant Market by Retail, 2016 - 2025 (USD Billion)
    • 8.3. Global Intelligent Virtual Assistant Market by BFSI, 2016 - 2025 (USD Billion)
    • 8.4. Global Intelligent Virtual Assistant Market by Automotive, 2016 - 2025 (USD Billion)
    • 8.5. Global Intelligent Virtual Assistant Market by Travel and Tourism, 2016 - 2025 (USD Billion)
    • 8.6. Global Intelligent Virtual Assistant Market by Government Sector, 2016 - 2025 (USD Billion)
    • 8.7. Global Intelligent Virtual Assistant Market by Others, 2016 - 2025 (USD Billion)
  •  
  • Chapter 9. Intelligent Virtual AssistantMarket - Regional Analysis
    • 9.1. Global Intelligent Virtual Assistant Market: Regional Overview
      • 9.1.1. Global Intelligent Virtual Assistant Market Revenue Share, By Region, 2018&2025 (USD Billion)
    • 9.2. North America
      • 9.2.1. North America Intelligent Virtual Assistant Market Revenue 2016 - 2025 (USD Billion)
      • 9.2.2. North America Intelligent Virtual Assistant Market Revenue, By Technology, 2016 - 2025 (USD Billion)
      • 9.2.3. North America Intelligent Virtual Assistant Market Revenue, By Application, 2016 - 2025 (USD Billion)
      • 9.2.4. North America Intelligent Virtual Assistant Market Revenue, By End-Use, 2016 - 2025 (USD Billion)
      • 9.2.5. North America Intelligent Virtual Assistant Market Revenue, By Industry Vertical, 2016 - 2025 (USD Billion)
      • 9.2.6. The U.S.
        • 9.2.6.1. The U.S. Intelligent Virtual Assistant Market Revenue, by Technology, 2016 - 2025 (USD Billion)
        • 9.2.6.2. The U.S. Intelligent Virtual Assistant Market Revenue, by Application, 2016 - 2025 (USD Billion)
        • 9.2.6.3. The U.S. Intelligent Virtual Assistant Market Revenue, by End-Use, 2016 - 2025 (USD Billion)
        • 9.2.6.4. The U.S. Intelligent Virtual Assistant Market Revenue, by Industry Vertical, 2016 - 2025 (USD Billion)
      • 9.2.7. Canada
        • 9.2.7.1. Canada Intelligent Virtual Assistant Market Revenue, by Technology, 2016 - 2025 (USD Billion)
        • 9.2.7.2. Canada Intelligent Virtual Assistant Market Revenue, by Application, 2016 - 2025 (USD Billion)
        • 9.2.7.3. Canada Intelligent Virtual Assistant Market Revenue, by End-Use, 2016 - 2025 (USD Billion)
        • 9.2.7.4. Canada Intelligent Virtual Assistant Market Revenue, by Industry Vertical, 2016 - 2025 (USD Billion)
      • 9.2.8. Mexico
        • 9.2.8.1. Mexico Intelligent Virtual Assistant Market Revenue, by Technology, 2016 - 2025 (USD Billion)
        • 9.2.8.2. Mexico Intelligent Virtual Assistant Market Revenue, by Application, 2016 - 2025 (USD Billion)
        • 9.2.8.3. Mexico Intelligent Virtual Assistant Market Revenue, by End-Use, 2016 - 2025 (USD Billion)
        • 9.2.8.4. Mexico Intelligent Virtual Assistant Market Revenue, by Industry Vertical, 2016 - 2025 (USD Billion)
    • 9.3. Europe
      • 9.3.1. Europe Intelligent Virtual Assistant Market Revenue 2016 - 2025 (USD Billion)
      • 9.3.2. Europe Intelligent Virtual Assistant Market Revenue, By Technology, 2016 - 2025 (USD Billion)
      • 9.3.3. Europe Intelligent Virtual Assistant Market Revenue, By Application, 2016 - 2025 (USD Billion)
      • 9.3.4. Europe Intelligent Virtual Assistant Market Revenue, By End-Use, 2016 - 2025 (USD Billion)
      • 9.3.5. Europe Intelligent Virtual Assistant Market Revenue, By Industry Vertical, 2016 - 2025 (USD Billion)
      • 9.3.6. UK
        • 9.3.6.1. UK Intelligent Virtual Assistant Market Revenue, by Technology, 2016 - 2025 (USD Billion)
        • 9.3.6.2. UK Intelligent Virtual Assistant Market Revenue, by Application, 2016 - 2025 (USD Billion)
        • 9.3.6.3. UK Intelligent Virtual Assistant Market Revenue, by End-Use, 2016 - 2025 (USD Billion)
        • 9.3.6.4. UK Intelligent Virtual Assistant Market Revenue, by Industry Vertical, 2016 - 2025 (USD Billion)
      • 9.3.7. France
        • 9.3.7.1. France Intelligent Virtual Assistant Market Revenue, by Technology, 2016 - 2025 (USD Billion)
        • 9.3.7.2. France Intelligent Virtual Assistant Market Revenue, by Application, 2016 - 2025 (USD Billion)
        • 9.3.7.3. France Intelligent Virtual Assistant Market Revenue, by End-Use, 2016 - 2025 (USD Billion)
        • 9.3.7.4. France Intelligent Virtual Assistant Market Revenue, by Industry Vertical, 2016 - 2025 (USD Billion)
      • 9.3.8. Germany
        • 9.3.8.1. Germany Intelligent Virtual Assistant Market Revenue, by Technology, 2016 - 2025 (USD Billion)
        • 9.3.8.2. Germany Intelligent Virtual Assistant Market Revenue, by Application, 2016 - 2025 (USD Billion)
        • 9.3.8.3. Germany Intelligent Virtual Assistant Market Revenue, by End-Use, 2016 - 2025 (USD Billion)
        • 9.3.8.4. Germany Intelligent Virtual Assistant Market Revenue, by Industry Vertical, 2016 - 2025 (USD Billion)
      • 9.3.9. Rest of Europe
        • 9.3.9.1. Rest of Europe Intelligent Virtual Assistant Market Revenue, by Technology, 2016 - 2025 (USD Billion)
        • 9.3.9.2. Rest of Europe Intelligent Virtual Assistant Market Revenue, by Application, 2016 - 2025 (USD Billion)
        • 9.3.9.3. Rest of Europe Intelligent Virtual Assistant Market Revenue, by End-Use, 2016 - 2025 (USD Billion)
        • 9.3.9.4. Rest of Europe Intelligent Virtual Assistant Market Revenue, by Industry Vertical, 2016 - 2025 (USD Billion)
    • 9.4. Asia Pacific
      • 9.4.1. Asia Pacific Intelligent Virtual Assistant Market Revenue 2016 - 2025 (USD Billion)
      • 9.4.2. Asia Pacific Intelligent Virtual Assistant Market Revenue, By Technology, 2016 - 2025 (USD Billion)
      • 9.4.3. Asia Pacific Intelligent Virtual Assistant Market Revenue, By Application, 2016 - 2025 (USD Billion)
      • 9.4.4. Asia Pacific Intelligent Virtual Assistant Market Revenue, By End-Use, 2016 - 2025 (USD Billion)
      • 9.4.5. Asia Pacific Intelligent Virtual Assistant Market Revenue, By Industry Vertical, 2016 - 2025 (USD Billion)
      • 9.4.6. China
        • 9.4.6.1. China Intelligent Virtual Assistant Market Revenue, by Technology, 2016 - 2025 (USD Billion)
        • 9.4.6.2. China Intelligent Virtual Assistant Market Revenue, by Application, 2016 - 2025 (USD Billion)
        • 9.4.6.3. China Intelligent Virtual Assistant Market Revenue, by End-Use, 2016 - 2025 (USD Billion)
        • 9.4.6.4. China Intelligent Virtual Assistant Market Revenue, by Industry Vertical, 2016 - 2025 (USD Billion)
      • 9.4.7. Japan
        • 9.4.7.1. Japan Intelligent Virtual Assistant Market Revenue, by Technology, 2016 - 2025 (USD Billion)
        • 9.4.7.2. Japan Intelligent Virtual Assistant Market Revenue, by Application, 2016 - 2025 (USD Billion)
        • 9.4.7.3. Japan Intelligent Virtual Assistant Market Revenue, by End-Use, 2016 - 2025 (USD Billion)
        • 9.4.7.4. Japan Intelligent Virtual Assistant Market Revenue, by Industry Vertical, 2016 - 2025 (USD Billion)
      • 9.4.8. India
        • 9.4.8.1. India Intelligent Virtual Assistant Market Revenue, by Technology, 2016 - 2025 (USD Billion)
        • 9.4.8.2. India Intelligent Virtual Assistant Market Revenue, by Application, 2016 - 2025 (USD Billion)
        • 9.4.8.3. India Intelligent Virtual Assistant Market Revenue, by End-Use, 2016 - 2025 (USD Billion)
        • 9.4.8.4. India Intelligent Virtual Assistant Market Revenue, by Industry Vertical, 2016 - 2025 (USD Billion)
      • 9.4.9. South Korea
        • 9.4.9.1. South Korea Intelligent Virtual Assistant Market Revenue, by Technology, 2016 - 2025 (USD Billion)
        • 9.4.9.2. South Korea Intelligent Virtual Assistant Market Revenue, by Application, 2016 - 2025 (USD Billion)
        • 9.4.9.3. South Korea Intelligent Virtual Assistant Market Revenue, by End-Use, 2016 - 2025 (USD Billion)
        • 9.4.9.4. South Korea Intelligent Virtual Assistant Market Revenue, by Industry Vertical, 2016 - 2025 (USD Billion)
      • 9.4.10. Rest of Asia Pacific
        • 9.4.10.1. Rest of Asia Pacific Intelligent Virtual Assistant Market Revenue, by Technology, 2016 - 2025 (USD Billion)
        • 9.4.10.2. Rest of Asia Pacific Intelligent Virtual Assistant Market Revenue, by Application, 2016 - 2025 (USD Billion)
        • 9.4.10.3. Rest of Asia Pacific Intelligent Virtual Assistant Market Revenue, by End-Use, 2016 - 2025 (USD Billion)
        • 9.4.10.4. Rest of Asia Pacific Intelligent Virtual Assistant Market Revenue, by Industry Vertical, 2016 - 2025 (USD Billion)
    • 9.5. Latin America
      • 9.5.1. Latin America Intelligent Virtual Assistant Market Revenue 2016 - 2025 (USD Billion)
      • 9.5.2. Latin America Intelligent Virtual Assistant Market Revenue, By Technology, 2016 - 2025 (USD Billion)
      • 9.5.3. Latin America Intelligent Virtual Assistant Market Revenue, By Application, 2016 - 2025 (USD Billion)
      • 9.5.4. Latin America Intelligent Virtual Assistant Market Revenue, By End-Use, 2016 - 2025 (USD Billion)
      • 9.5.5. Latin America Intelligent Virtual Assistant Market Revenue, By Industry Vertical, 2016 - 2025 (USD Billion)
      • 9.5.6. Brazil
        • 9.5.6.1. Brazil Intelligent Virtual Assistant Market Revenue, by Technology, 2016 - 2025 (USD Billion)
        • 9.5.6.2. Brazil Intelligent Virtual Assistant Market Revenue, by Application, 2016 - 2025 (USD Billion)
        • 9.5.6.3. Brazil Intelligent Virtual Assistant Market Revenue, by End-Use, 2016 - 2025 (USD Billion)
        • 9.5.6.4. Brazil Intelligent Virtual Assistant Market Revenue, by Industry Vertical, 2016 - 2025 (USD Billion)
      • 9.5.7. Argentina
        • 9.5.7.1. Argentina Intelligent Virtual Assistant Market Revenue, by Technology, 2016 - 2025 (USD Billion)
        • 9.5.7.2. Argentina Intelligent Virtual Assistant Market Revenue, by Application, 2016 - 2025 (USD Billion)
        • 9.5.7.3. Argentina Intelligent Virtual Assistant Market Revenue, by End-Use, 2016 - 2025 (USD Billion)
        • 9.5.7.4. Argentina Intelligent Virtual Assistant Market Revenue, by Industry Vertical, 2016 - 2025 (USD Billion)
      • 9.5.8. Rest of Latin America
        • 9.5.8.1. Rest of Latin America Intelligent Virtual Assistant Market Revenue, by Technology, 2016 - 2025 (USD Billion)
        • 9.5.8.2. Rest of Latin America Intelligent Virtual Assistant Market Revenue, by Application, 2016 - 2025 (USD Billion)
        • 9.5.8.3. Rest of Latin America Intelligent Virtual Assistant Market Revenue, by End-Use, 2016 - 2025 (USD Billion)
        • 9.5.8.4. Rest of Latin America Intelligent Virtual Assistant Market Revenue, by Industry Vertical, 2016 - 2025 (USD Billion)
      • 9.6.9. The Middle East and Africa
        • 9.6.9.1. The Middle East and Africa Intelligent Virtual Assistant Market Revenue 2016 - 2025 (USD Billion)
        • 9.6.9.2. The Middle East and Africa Intelligent Virtual Assistant Market Revenue, by Technology, 2016 - 2025 (USD Billion)
        • 9.6.9.3. The Middle East and Africa Intelligent Virtual Assistant Market Revenue, by Application, 2016 - 2025 (USD Billion)
        • 9.6.9.4. The Middle East and Africa Intelligent Virtual Assistant Market Revenue, by End-Use, 2016 - 2025 (USD Billion)
        • 9.6.9.5. The Middle East and Africa Intelligent Virtual Assistant Market Revenue, by Industry Vertical, 2016 - 2025 (USD Billion)
      • 9.6.10. GCC Countries
        • 9.6.10.1. GCC Countries Intelligent Virtual Assistant Market Revenue, by Technology, 2016 - 2025 (USD Billion)
        • 9.6.10.2. GCC Countries Intelligent Virtual Assistant Market Revenue, by Application, 2016 - 2025 (USD Billion)
        • 9.6.10.3. GCC Countries Intelligent Virtual Assistant Market Revenue, by End-Use, 2016 - 2025 (USD Billion)
        • 9.6.10.4. GCC Countries Intelligent Virtual Assistant Market Revenue, by Industry Vertical, 2016 - 2025 (USD Billion)
      • 9.6.11. Rest of MEA
        • 9.6.11.1. Rest of MEA Intelligent Virtual Assistant Market Revenue, by Technology, 2016 - 2025 (USD Billion)
        • 9.6.11.2. Rest of MEA Intelligent Virtual Assistant Market Revenue, by Application, 2016 - 2025 (USD Billion)
        • 9.6.11.3. Rest of MEA Intelligent Virtual Assistant Market Revenue, by End-Use, 2016 - 2025 (USD Billion)
        • 9.6.11.4. Rest of MEA Intelligent Virtual Assistant Market Revenue, by Industry Vertical, 2016 - 2025 (USD Billion)
  •  
  • Chapter 10. Company Profiles
    • 10.1. Microsoft Corporation
      • 10.1.1. Overview
      • 10.1.2. Financials
      • 10.1.3. Product portfolio
      • 10.1.4. Business strategy
      • 10.1.5. Recent developments
    • 10.2. Apple Inc.
      • 10.2.1. Overview
      • 10.2.2. Financials
      • 10.2.3. Product portfolio
      • 10.2.4. Business strategy
      • 10.2.5. Recent developments
    • 10.3. Nuance Communications Inc.
      • 10.3.1. Overview
      • 10.3.2. Financials
      • 10.3.3. Product portfolio
      • 10.3.4. Business strategy
      • 10.3.5. Recent developments
    • 10.4. Next IT Corporation
      • 10.4.1. Overview
      • 10.4.2. Financials
      • 10.4.3. Product portfolio
      • 10.4.4. Business strategy
      • 10.4.5. Recent developments
    • 10.5. IBM Corporation
      • 10.5.1. Overview
      • 10.5.2. Financials
      • 10.5.3. Product portfolio
      • 10.5.4. Business strategy
      • 10.5.5. Recent developments
    • 10.6. Amazon, Inc.
      • 10.6.1. Overview
      • 10.6.2. Financials
      • 10.6.3. Product portfolio
      • 10.6.4. Business strategy
      • 10.6.5. Recent developments
    • 10.7. eGain Communications Corp.
      • 10.7.1. Overview
      • 10.7.2. Financials
      • 10.7.3. Product portfolio
      • 10.7.4. Business strategy
      • 10.7.5. Recent developments
    • 10.8. Artificial Solutions Ltd.
      • 10.8.1. Overview
      • 10.8.2. Financials
      • 10.8.3. Product portfolio
      • 10.8.4. Business strategy
      • 10.8.5. Recent developments
    • 10.9. Speaktoit Inc.
      • 10.9.1. Overview
      • 10.9.2. Financials
      • 10.9.3. Product portfolio
      • 10.9.4. Business strategy
      • 10.9.5. Recent developments

Methodology

Free Analysis

Rising investments made to develop Artificial Intelligence (AI) is likely to fuel the intelligent virtual assistant market growth over the projected timeframe. Speech recognition is a part of AI and considered as a major technology used in intelligent virtual assistant devices. In the year 2016, global tech giants, such as Google and Baidu, spent about USD 30 billion on artificial intelligence. About 90% of these total spending was utilized in R&D activities, whereas the rest was used for acquiring AI developing firms. With this technology being adopted in various industries, the intelligent virtual assistant market is anticipated to grow in the upcoming years.

The global intelligent virtual assistant market is likely to be driven by the increasing use of smart speakers for residential applications in the future. In addition, the rising investments in smart homes and the “Internet of Things” (IoT) technology are anticipated to further fuel the intelligent virtual assistant market considerably in the upcoming years. It was estimated that in the U.S., from 2014 to 2018, more than 10 million smart speakers were purchased for residential purposes. In 2018, the global sale of smart speakers was about 98 million units, which is expected to reach 164 million units in 2019. Furthermore, top smart speaker manufacturers are focusing on collaborating with residential appliance manufacturers for gaining a competitive advantage on their competitors. Amazon and Google have already collaborated with several retailers and manufacturers of entertainment systems and smart thermostats. These initiatives are anticipated to positively impact the sale of smart speakers, which, in turn, is projected to drive the intelligent virtual assistant market over the estimated timeframe. However, complexities in systems integrations will lead to an increase in the manufacturing cost of smart speakers, which might hamper the growth of the intelligent virtual assistant market in the future. 

Global Intelligent Virtual Assistant Market

By technology, the global intelligent virtual assistant market is bifurcated into text-to-speech and speech recognition. The speech recognition segment is likely to hold a significant share of the intelligent virtual assistant market in the future, owing to increasing investments made in artificial intelligence technology. Retail, BFSI, automotive, travel and tourism, government sector, and others form the industry vertical of the global intelligent virtual assistant market. The automotive segment is anticipated to grow considerably in the future, due to the escalating demand for technology in autonomous vehicles.

By region, Europe and North America held major shares of the global intelligent virtual assistant market and are set to dominate in the upcoming years as well. This can be attributed to the rapid adoption of the technology in automotive and government sectors, the presence of prominent players in both these regions. The rising demand for smart speakers is the major factor likely to drive the intelligent virtual assistant market in the Asia Pacific region in the future. This region is anticipated to grow notable over the forecast time period.

Some key players of the global intelligent virtual assistant market include Microsoft Corporation, Alphabet Inc., Apple Inc., Nuance Communications Inc., Next IT Corporation, IBM Corporation, Amazon, Inc., eGain Communications Corp., Artificial Solutions Ltd., and Speaktoit Inc., among others.

Office Address

Corporate Office
Zion Market Research 244 Fifth Avenue, Suite N202 New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll Free No.1-855-465-4651

Asia Pacific Office
3rd Floor, Mrunal Paradise, Opp Maharaja Hotel, Pimple Gurav, Pune 411061, Maharashtra, India
Phone No 020-46277770

Contact #
US OFFICE NO +1-386-310-3803
US/CAN TOLL FREE +1-855-465-4651
Email: sales@zionmarketresearch.com

We Accept

We have secured system to process your transaction.


We Are On Social