The Global Intelligent Virtual Assistant Market was valued at USD 1.42 billion in 2016 and is projected to reach USD 26.84 billion by 2025, growing at a CAGR of 38.32% from 2017 to 2025.
An Intelligent Virtual Assistant is an application program that understands natural language voice commands and completes tasks for the user. This technology incorporates elements of interactive voice response and other modern artificial intelligence projects to deliver full-fledged virtual identities that converse with users. Benefits of Intelligent Virtual Assistant includes - it improve your online customer service experience, increase sales, reduces costs, create effortless experience, and answers users’ questions.
Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Incorporation of gesture recognition in IVA
1.2 Rise in the market due to multi-language support in IVAs
1.3 Adoption of chatbots due to the availability of low cost software modules for chatbot design
1.4 Increasing demand for automation in customer service
1.5 Rise in the integration of speaker-based VA and smart home appliances
2. Market Restraints
2.1 Poor awareness about IVAs in developing countries
2.2 Limited market research of IVA smart speakers
2.3 Poor accuracy in chatbot
2.4 Issues with system integration
Market Segmentation:
The Global Intelligent Virtual Assistant Market is segmented on the user interface, product, type, vertical, and region.
1. User Interface:
1.1 Text-To-Speech
1.2 Text Based
1.3 Automatic Speech Recognition (ASR)
2. By Product:
2.1 IVA Smart Speakers
2.2 Chatbots
3. By Type:
3.1 Conversational AI based
3.2 Rule based
4. By Vertical:
4.1 Healthcare
4.2 Government
4.3 Consumer Electronics
4.4 Banking, Financial Services, and Insurance (BFSI)
4.5 Travel and Hospitality
4.6 Retail
4.7 Education
4.8 Others
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Nuance Communications
2. Samsung Electronics
3. Apple
4. IBM Corporation
5. Amazon
6. Microsoft
7. Alphabet
8. Inbenta Technologies
9. Blackberry
10. Baidu
11. Facebook
12. Unified Computer Intelligence
13. Mycroft Ai
14. Artificial Solutions
15. Cognitive Code
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Intelligent Virtual Assistant Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the Research Methodology of Verified Market Intelligence and other aspects of the research study, kindly get in touch with our sales team
1 INTRODUCTION OF GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
4.5 Regulatory Framework
5 GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET BY USER INTERFACE
5.1 Text-To-Speech
5.2 Text Based
5.3 Automatic Speech Recognition (ASR)
6 GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET BY PRODUCT
6.1 IVA Smart Speakers
6.2 Chatbots
7 GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET BY TYPE
7.1 Conversational AI based
7.2 Rule based
8 GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET BY VERTICAL
8.1 Healthcare
8.2 Government
8.3 Consumer Electronics
8.4 Banking, Financial Services, and Insurance (BFSI)
8.5 Travel and Hospitality
8.6 Retail
8.7 Education
8.8 Others
9 GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET, BY GEOGRAPHY
9.1 Overview
9.2 North America Regional Market Estimates and Forecasts, 2012 - 2025
9.2.1 U.S.
9.2.2 Canada
9.2.3 Mexico
9.3 Europe Regional Market Estimates and Forecasts, 2012 - 2025
9.3.1 Germany
9.3.2 U.K.
9.3.3 France
9.3.4 Rest of Europe
9.4 Asia Pacific Regional Market Estimates and Forecasts, 2012 - 2025
9.4.1 China
9.4.2 Japan
9.4.3 India
9.4.4 Rest of Asia Pacific
9.5 Latin America Regional Market Estimates and Forecasts, 2012 - 2025
9.5.1 Brazil
9.5.2 Argentina
9.6 Rest of the World Regional Market Estimates and Forecasts, 2012 â€" 2025
10 GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET COMPETITIVE LANDSCAPE
10.1 Overview
10.2 Company Market Share
10.3 Vendor Landscape
10.4 Key Development Strategies
11 COMPANY PROFILES
11.1 Nuance Communications
11.1.1 Overview
11.1.2 Financial Performance
11.1.3 Product Outlook
11.1.4 Key Developments
11.2 Samsung Electronics
11.2.1 Overview
11.2.2 Financial Performance
11.2.3 Product Outlook
11.2.4 Key Developments
11.3 Apple
11.3.1 Overview
11.3.2 Financial Performance
11.3.3 Product Outlook
11.3.4 Key Developments
11.4 IBM Corporation
11.4.1 Overview
11.4.2 Financial Performance
11.4.3 Product Outlook
11.4.4 Key Developments
11.5 Amazon
11.5.1 Overview
11.5.2 Financial Performance
11.5.3 Product Outlook
11.5.4 Key Developments
11.6 Microsoft
11.6.1 Overview
11.6.2 Financial Performance
11.6.3 Product Outlook
11.6.4 Key Developments
11.7 Alphabet
11.7.1 Overview
11.7.2 Financial Performance
11.7.3 Product Outlook
11.7.4 Key Developments
11.8 Inbenta Technologies
11.8.1 Overview
11.8.2 Financial Performance
11.8.3 Product Outlook
11.8.4 Key Developments
11.9 Blackberry
11.9.1 Overview
11.9.2 Financial Performance
11.9.3 Product Outlook
11.9.4 Key Developments
11.10 Baidu
11.10.1 Overview
11.10.2 Financial Performance
11.10.3 Product Outlook
11.10.4 Key Developments
11.11 Unified Computer Intelligence
11.11.1 Overview
11.11.2 Financial Performance
11.11.3 Product Outlook
11.11.4 Key Developments
11.12 Facebook
11.12.1 Overview
11.12.2 Financial Performance
11.12.3 Product Outlook
11.12.4 Key Developments
11.13 Mycroft Ai
11.13.1 Overview
11.13.2 Financial Performance
11.13.3 Product Outlook
11.13.4 Key Developments
11.14 Artificial Solutions
11.14.1 Overview
11.14.2 Financial Performance
11.14.3 Product Outlook
11.14.4 Key Developments
11.15 Cognitive Code
11.15.1 Overview
11.15.2 Financial Performance
11.15.3 Product Outlook
11.15.4 Key Developments
12 Appendix
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