Intelligent Virtual Assistant Market Research
With 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. Social media has significantly influenced the growth of this market leading to creation of new and diverse opportunities in the sector. Enhanced consumer experience is one of the main benefits that are driving the development of this particular sector.
Industry Segments
The Global Intelligent Virtual Assistant Market comprises of the following categories:
By Technology: Text-to-speech and Speech recognition. Text to speech and speech recognition are developing on a relatively similar pace.
By Application: Vertical BFSI, healthcare, automotive, e-commerce, aerospace, IT among others. Healthcare sector is placing significant importance on IVA. IVAs are quite popular in the retail industry. 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.
Regional Insights
Geographically, the intelligent virtual assistant market span across regions namely, Europe, North America, Asia Pacific and Rest-of-the-World (RoW).
Among all the regions, North America is presumed to dominate the global market with a considerable market share. The growth is attributed to the technological advancements witnessed in this region. Such advancements have led to the increased use of cloud-based applications such as MS Office Online and Skype.
Asia Pacific is considered to emerge as the fastest growing market due to the growing demand for IVA solutions from emerging economies such as China and India. Moreover, need for healthcare service reliability and availability in developing markets is likely to fuel the market growth in this region.
Industry News
October 15, 2018: AXS Solutions will be launching Convolink, an Artificial Intelligence Virtual Assistant generator platform for the MENA and GCC region at Gitex. ConvoLink is one of the most technologically advanced systems and can interact in voice, text, and telephony. The system can also understand, read and converse in Arabic. This system also supports multiple languages and can work for with great accuracy.
Competitive Dashboard
The major players operating the global intelligent virtual assistant market are Google (U.S.), Creative Virtual (U.K.), ViClone (Spain), Anboto (Spain), Nuance Communications (U.S.), GetAbby (U.S.), Next IT (U.S.), eGain (U.S.), CX Company (Netherlands), Inbenta (U.S.), and others.
More Information@
Intelligent Virtual Assistant Market | IVA Market Size, Share, Forecast to 2027
Intelligent Virtual Assistant Market is seeing a tremendous opportunities in the forecast period,…
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