Press release
Intelligent Virtual Assistant Market 2018-2024 Key Players: Nuance, IBM, Clara Labs, Creative Virtual, eGain Communications, InteliWISE, CX Company, Artificial Solutions
Global Market Insights, Inc.
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Automotive, healthcare, BFSI, IT & telecom, education, and retail are some of the key application areas for the intelligent virtual assistant market. The automotive application is estimated to surpass a revenue of USD 2.8 billion by 2024, owing to the increasing incorporation of IVA technology for the automotive sector. For instance, dragon drive automotive virtual assistant platform for connected cars has been released recently, which improves the in-car experience of the driver.
The escalating healthcare sector will generate heavy revenue for intelligent virtual assistant industry over the coming period, driven by its increasing requirement from hospitals to request lab results as well as to schedule appointments. Retail applications will also play a significant role towards intelligent virtual assistant market growth over the coming timeframe, owing to the quick and cost-effective problem-solving capability.
The IVA technology is segmented in terms of speech recognition, voice recognition, and text-to -speech. Speech recognition technology is predicted to surpass a revenue of USD 7.5 billion by 2024, driven by its increasing implementation in mobile devices. Voice recognition IVA technology is estimated to exhibit substantial growth over the coming years. The growth can be attributed to the increasing demand for this technology for voiceprints and biometric identification applications.
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Partial Chapter of the Table of Content
Chapter 3 Intelligent Virtual Assistant Industry Insights
3.1 Industry segmentation
3.2 Industry Size and forecast, 2013 - 2024
3.3 Industry ecosystem analysis
3.4 Technology & innovation landscape
3.4.1 Natural Language Processing
3.4.2 IVA Powered by Artificial Intelligence (AI)
3.5 Regulatory landscape
3.5.1 Health Information Technology for Economic and Clinical Health (HITECH)
3.5.2 EU Data Protection Directive
3.5.3 EU Electronic Communication Directive
3.5.4 Electronic Communication Privacy Act (ECPA)
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Rising emphasis to enhance customer satisfaction
3.6.1.2 Increasing adoption across several industry verticals
3.6.1.3 Growing global mobile device adoption
3.6.1.4 High demand for outsourced assistance
3.6.2 Industry pitfalls & challenges
3.6.2.1 Lack of skilled professionals
3.7 Growth potential analysis
3.8 Company market share analysis, 2015
3.8.1 Strategy dashboard
3.9 Porter’s analysis
3.10 PESTEL analysis
Chapter 4 Intelligent Virtual Assistant Technology Insights
4.1 Global intelligent virtual assistant market share by technology, 2015 & 2024
4.2 Speech Recognition
4.2.1 Speech recognition market, 2013 - 2024
4.2.2 Speech recognition market, by region, 2013 - 2024
4.3 Text-to-Speech
4.3.1 Text-to-speech market, 2013 - 2024
4.3.2 Text-to-speech market, by region, 2013 - 2024
4.4 Voice Recognition
4.4.1 Voice recognition market, 2013 - 2024
4.4.2 Voice recognition market, by region, 2013 - 2024
Chapter 5 Intelligent Virtual Assistant Service Insights
5.1 Intelligent virtual assistant market share by service, 2015 & 2024
5.2 Customer Assistant
5.2.1 Customer assistant market, 2013 - 2024
5.2.2 Customer assistant market, by region, 2013 - 2024
5.3 Marketing Assistant
5.3.1 Marketing assistant market, 2013 - 2024
5.3.2 Marketing assistant market, by region, 2013 - 2024
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Asia Pacific intelligent virtual assistant market is predicted to grow at an annual growth rate of 40% over the coming seven years. The rise in technological advancement will be the attributing factor towards the regional growth. India and China will be the major revenue pockets for the Asia Pacific IVA industry share.
Nuance, Clara Labs, IBM, eGain, and Creative Virtual are some of the leading companies operating in the global intelligent virtual assistant industry. Other notable market participants include InteliWise, Artificial Solutions, CX Company, and Anboto Group.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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