Intelligent Virtual Assistant Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

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Report Code: ZMR-2609 | Report Format : | Status : Upcoming |

Abstract

Global Intelligent Virtual Assistant (IVA) Market: Overview

Intelligent Virtual Assistant (IVA) facilitates user’s interaction with smart phones and other devices such as in-car infotainment systems, PCs, and laptops to access any kind of required information such as, payment procedures, appointments and availability of doctor, navigation, news and entertainment among others. IVA is a system which responds to the questions by the humans in human ways. There are many IVAs available in market; such as, Apple iPhone’s Siri, Google assistant personal digital assistant (PDA), and interactive voice response (IVR). The software can use speech recognition and translation in different Languages. Further, IVA systems use various interactions methods such as text to text, speech to text, and speech to speech.

Global Intelligent Virtual Assistant (IVA) Market: Growth Factors

The growth of global IVA market is mainly driven by growing trend of outsourced assistance, and mobile workforce coupled with increasing focus on customer engagement. In addition, availability of low-cost software modules for chatbot design is also predicted to support the growth of IVA market in analysis period. Furthermore, growing demand for self-reliance, online self-service and rapid resolution of queries is emerged as a key contributing factor in global IVA market in coming years. On a contrary, system integration complexities are estimated to limit the growth of IVA market in forecast period. Even though, gesture recognition technology may disclose new avenues for IVA market in near future.

Global Intelligent Virtual Assistant (IVA) Segmentation:

Global IVA market is segmented into product, user interface, type, industry and regional. Based on product, the market categorized into chatbot and IVA Smart Speakers. Text Based, Text-To-Speech-Based, Automatic Speech Recognition (ASR) and Others are the user interface segment of market. On the basis of type market classified into Rule-Based and Conversational Ai-Based. Industry segment include, Consumer Electronics, Healthcare, BFSI, Retail, Government, Utilities and others.

Global Intelligent Virtual Assistant (IVA) Market: Regional Analysis

With the largest share, North America was a leading regional market for IVA in 2017 followed by Europe. U.S. is expected to major contributor for growth of market in this region owing to presence of key players in region. Asia Pacific is estimated to most opportunist market for IVA market and anticipated to grow with CAGR over the analysis period. Increasing focus on customer engagement will be the key driver for the IVA market growth. In 2017, China held the largest market share of IVA market in Asia Pacific. Singapore and India are emerged as the lucrative countries for market growth.

Global Intelligent Virtual Assistant Market: Competitive Players

Some of the major operating players in global intelligent virtual assistant market are Microsoft Corp, Google, Apple Inc, Intel Corp, viclone, eGain communication Corp, Nuance Solutions Ltd, Oracle Corp, Speakoit Inc, Anboto Group, Creative Virtual Ltd, Speaktoit Inc, Artificial Solutions Ltd, IBM Corp, Next IT, CX Company and Synthetix Ltd amongst others.

Global Intelligent Virtual Assistant : Regional Segment Analysis

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

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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