Intelligent Virtual Assistant Market size to accumulate over US $21,523.6 Mn by 2026

Jun 6, 2019

Worldwide Intelligent Virtual Assistant market report studies the industry based on one or more segments covering key players, types, applications, products, technology, end-users, and regions for historical data as well as provides forecasts for next few years.

Selbyville, Delaware - June 6, 2019 /MarketersMedia/ —

The growing need to improve customer service, streamline enterprise communication, and increase productivity has boosted the adoption of intelligent virtual assistants. The rising penetration of mobile devices, and integration of virtual assistants with smart home appliances further support the growth of this market. Additionally, the increasing demand of intelligent virtual assistants from small and medium enterprises has supported market growth over the years. Increasing investments by vendors in technological advancements coupled with growing need to improve customer experience would accelerate the adoption of intelligent virtual assistants. However, lack of awareness is expected to hinder market growth. Growing demand from emerging economies is expected to provide numerous growth opportunities in the coming years.

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Intelligent Virtual Assistant market is anticipated to reach over USD 21,523.6 million by 2026 according to a new study. In 2017, the BFSI segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.

The use of digital assistants and bots is expected to increase in the coming years. Computer programs in the form of bots simulate conversation with users through chat windows and voice calls. They have the ability to perform a number of different automated tasks such as scheduling meetings, managing finances, and others. They also assist in successful use of unified communication tools. These bots could be used as an automated attendant monitoring the interactions and offering instructions to users.

North America generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The presence of established telecom and cloud infrastructure in this region, and growing trend of BYOD drive the market growth in the region. The growing demand of mobile devices, and technological advancements further support market growth in the region. Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to growing demand of virtual assistant technologies in the developing countries of the region.

Intelligent virtual assistants are gradually replacing traditional interactive voice response systems. Use of intelligent virtual assistants is proving effective by enhancing customer and brand experience and providing a consumer-friendly environment. The virtual assistants also offer a platform for convenient communication within businesses through voice, text, and other channels.

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The well-known companies profiled in the report include Apple Inc., Microsoft Corporation, Google, Nuance Communications, IBM Corporation, Oracle Corporation, [24]7.ai., Speaktoit Inc., CodeBaby Corporation, Next IT Corporation, Intel Corporation, and Clara Labs among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

Table of Contents:

1. Overview and Scope

2. Executive Summary

3. Intelligent Virtual Assistants Market Insights

4. Intelligent Virtual Assistants Market Size and Forecast, 2017-2026 by Technology

5. Intelligent Virtual Assistants Market Size and Forecast, 2017-2026 by Type

6. Intelligent Virtual Assistants Market Size and Forecast, 2017-2026 by Service

7. Intelligent Virtual Assistants Market Size and Forecast, 2017-2026 by End-User

8. Intelligent Virtual Assistants Market Size and Forecast, 2017-2026 by Region

9. Company Profiles

More Details on this Report At: https://www.marketstudyreport.com/reports/intelligent-virtual-assistant-market-by-technology-text-based-speech-recognition-text-to-speech-based-others-by-type-rule-based-conversational-ai-based-by-service-customer-service-marketing-assistant-by-end-user-healthcare-education-retail-bfsi-government-others-by-region-market-size-forecast-2017-2026

Related Report:

Health Intelligent Virtual Assistant Market Share & Forecast, 2018 - 2024

Health Intelligent Virtual Assistant Market will exceed USD 1.6 billion by 2024; as per a new research report. Growing adaptation of internet of things will drive market growth. internet of things can be applied from smart sensors to remote monitoring and medical device integration to improve physicians? delivery care. The implementation of internet of things in healthcare helps in enhancing already existing technology, thereby driving health intelligent virtual assistant market growth.

https://www.marketstudyreport.com/reports/health-intelligent-virtual-assistant-market

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Source URL: https://marketersmedia.com/intelligent-virtual-assistant-market-size-to-accumulate-over-us-215236-mn-by-2026/520902

Source: MarketersMedia

Release ID: 520902

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