Global intelligent virtual assistant market is segmented into application, end-use, service, technology and region. On the basis of application, market is divided into education, healthcare, retail, Telecom & IT, automotive, BFSI and more. On considering the end-use, market is divided into individual users, large enterprises and SMBs. Based on service, market is divided into marketing assistant and customer service. By technology, market is divided into voice recognition, text-to-speech and speech recognition.
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Demand for automation in service based companies and Integration of Artificial Intelligence (AI) and Internet of Things (IoT) coupled with the hyper usage of smartphones is anticipated to drive the growth. Moreover, automation technologies such as Robotic Process Automation (RPA) and AI are proliferating in the healthcare sector. Thus, intelligent virtual assistants are expected to witness high demand over the next five years. Increase in the usage of the intelligent virtual assistant is getting popular and rapidly growing in the retail sector, which shows various opportunities for growth in the coming future.
Developments in the technology and inventions are anticipated to motivate the growth of intelligent virtual assistant market over the forecast period. On the contrary, expensive intelligent virtual assistant is the key factors that are propelling to hamper the growth of global intelligent virtual market in the coming future.
Intelligent Virtual Assistant is a next generation software that assists the interaction of user with PC, through SMS, internet, messenger and other points. Intelligent virtual assistant systems are using several ways of interaction like speech-to-text, speech-to-speech, text-to-text and text-to-speech amongst others to help users in performing their tasks. Intelligent virtual assistant leads to a sudden response from system, reduce the dependency on customer for any issues and improve the collection of data. Solutions of intelligent virtual assistant are being applied amongst several organizations like E-retailers, healthcare and banks. Increase in the usage of smartphone, presence of understanding the natural language accepting technology and growth in the acceptance of intelligent virtual assistant software in large organization are the factors that are boosting the growth of intelligent virtual assistant market.
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Increase in the usage of smartphones is the main factor responsible for the growth of intelligent virtual market. With growing demand of smartphones, manufacturers are trying to connect the unique and advanced application in the products to fascinate the consumers. Intelligent virtual assistant are offering easy conveyance for old technology with the other applications like natural language understanding, affordability and voice recognition.
Global intelligent virtual assistant market trends are increase in the outsourced assistance and mobile workforce related to the growth in the focus on the consumer. Moreover, cost-effective modules of software are available for chatbot design are supporting the growth of global intelligent virtual assistant market during the forecast period. Although, online self-service, increase in the demand for self-support and quick resolution is developed and participating in the growth of global intelligent virtual assistant market in the coming future.
Moreover, substantial shift from the analogue to digital technologies in the enterprises all over the world is increasing the demand for intelligent virtual assistant market. Except this, large demand for the services of automation are providing support to customer is the factor that is fueling the growth of intelligent virtual assistant market. In addition, increasing use of internet by young generation related to improving the experience of customer are the other factors that are positively encouraging the intelligent virtual assistant market growth.
Geographically, regions involved in the development of global intelligent virtual assistant market are Europe, North America, Asia Pacific and Latin America. North America holds the largest intelligent virtual assistant market share. Asia Pacific is anticipated to grow rapidly in the coming years.
Key players involved in increasing the intelligent virtual assistant market are Anboto Group, Next IT Corporation, Creative Virtual Ltd., and more.
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Key Segments in the “Global Intelligent Virtual Assistant Market” are-
By Application, market is segmented into:
- Telecom & IT
By End-use, market is segmented into:
- Individual users
- Large enterprises
By Service, market is segmented into:
- Marketing assistant
- Customer service
By Technology, market is segmented into:
- Voice recognition
- Speech recognition
By Regions market is segmented into:
- North America
- Asia Pacific
- Latin America
What to expect from the Global Intelligent Virtual Assistant Market report?
- Predictions of future made for this market during the forecast period.
- Information on the current technologies, trends, devices, procedures, and products in the industry.
- Detailed analysis of the market segmentation, depending on the types, devices, and products.
- Government regulations and economic factors affecting the growth of the market.
- An insight into the leading manufacturers.
- Regional demographics of the market.
Who should buy this report?
Venture capitalists, Investors, financial institutions, Analysts, Government organizations, regulatory authorities, policymakers ,researchers, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
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