Global Intelligent Virtual Assistants Market to Expand at 31.8% CAGR between 2015 and 2022: MRRSE

Albany, New York: The report, titled “Intelligent Virtual Assistant Market (By Technology - Text-to-Speech, Speech Recognition; By End User - Individual Users, Small and Medium Enterprise Users, Large Enterprise Users) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019”, published by the market research company Transparency Market Research is a detailed analytical study of the global market for intelligent virtual assistants.

The report states that the global market for intelligent virtual assistants, which had a valuation of US$579.7 bn in 2014, will expand at an astounding 31.8% CAGR between 2015 and 2022. Intelligent virtual assistants are increasingly gaining popularity as the new mobility solution and business communication medium that utilizes the internet and speech together to answer the user’s queries of any kind.

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As intelligent virtual assistants increasingly become an important part of the mobility market, organizations have started increasing the usage of such assistants on their websites. Moreover, as businesses seek to improve productivity, they are increasingly turning to digital applications instead of human workers for a variety of operations and processes that require direct communication between the end user and business processes. These factors are boosting the global market for intelligent virtual assistants.

The report segments the global intelligent virtual assistants market on the basis of three criteria: technology, end users, and key regional markets. Based on technology, the market is further segmented into speech recognition and text-to-speech applications. On the basis of end users, the market is segmented into individual users, large enterprises, and small- and medium-sized enterprises.

Of the key end users of intelligent virtual assistant studies in the report, the demand from large enterprises accounted for the largest share in the global market in 2014.

Based on the key regions analyzed in the report, the North America market for intelligent virtual assistants led the global market in 2014, acquiring a nearly 39% share. The dominant share of the North America market can be attributed to the rising popularity of virtual assistant applications in consumer electronic products such as personal computers, smartphones, and tablets. Owing to the improved accuracy of intelligent virtual assistants, their demand is also expected to see a significant rise in regional markets such as Europe and Asia Pacific. The market in Asia Pacific is expected to be spurred by the rising investments in the field of high-end consumer electronic products. The demand for intelligent virtual assistant solutions is expected to remain the highest in countries such as China, South Korea, India, and Japan over the report’s forecast period.

Browse Full Report with TOC:http://www.mrrse.com/intelligent-virtual-assistant-industry-market

The report states that the competitive landscape of the global market for intelligent virtual assistant solutions is fragmented in nature and features the presence of a large number of regional as well as global vendors. Of the numerous businesses operating in the market, the primary ones are Artificial Solutions UK Ltd., IntelliResponse Systems Inc., Next IT Corporation, VirtuOz Inc., Creative Virtual Ltd., CodeBaby Corp., eGain Communications Corp., Anboto Group., Speaktoit Inc., and Nuance Communications Inc.

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