Press release
The Global Intelligent Virtual Assistant Market Is Projected To Reach Usd 26.84 Billion By 2025, Growing At A Cagr Of 38.32% From 2017 To 2025 Top Key Players Are Nuance Communications , Samsung Electronics, Apple, Ibm Corporation, Amazon , Microsoft , Al
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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
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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.
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