Smart Advisors Market 2017-2025 | BM Watson, eGain Corporation, Creative Virtual Pvt Ltd.
The smart advisors market is expected to display phenomenal growth in the coming years. Smart advisors use smart machine technology to provide an ambient user experience for applications and services. With the increasing adoption of Internet of Things (IoT), the need for smart advisors has intensified as machines interact with other machines and humans autonomously.
The smart advisors market can be segmented on the basis of type, industry vertical, deployment type, end user, usage, and region. In terms of usage, mobile platform is expected to display the highest growth rate owing to the increasing number of mobile users and implementation of bring your own devices (BYOD) policy in the corporate sector. In the healthcare industry, the rising need for integrated patient management for high quality end to end services will bode well for this segment’s growth.
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By deployment type, on-cloud currently accounts for the largest market share and is expected to register the highest growth rate during the forecast period. This is because cloud-based solutions reduce up-fronts costs and eliminate the need of maintenance of servers. By end user, large enterprises are expected to hold the largest market share during the forecast period. Factors such as customer retention and increased revenue generation are encouraging the adoption of smart advisors technology solutions in large enterprises.
The report provides facts and figures relevant to the global smart advisors market in a chronological order. Analyzing past and current growth trends, the report presents satisfactory projections regarding the growth prospects of this market. The accurate projections presented in this report can be utilized by market participants to devise cutting-edge business strategies to leverage growth opportunities in the future. Using standard analytical tools such as Porter’s Five Forces analysis and SWOT analysis, the research report provides valuable indices of strengths, weakness, opportunities, and threats of the market during the forecast period of 2017 to 2025.
Global Smart Advisors Market: Drivers and Restraints
The major factors driving the global smart advisors market include the burgeoning demand for intelligent customer engagement, surging demand for automation for patient management in the healthcare industry, and increasing penetration of websites and mobile applications. In addition, the rising demand for integrated and next generation technology, increasing wave of mobile applications, and evolution of cloud-based solutions are expected to present considerable growth opportunities to this market.
However, factors such as lack of awareness due to its relatively early presence in tech-adoption life cycle, high cost and complexities involved in the deployment and integration of these solutions, and lack of expertise are restraining this market’s growth.
Global Smart Advisors Market: Regional Overview
The global smart advisors market can be broadly segmented into the regional segments of North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa. The regional analysis involves the categorization of type, industry verticals, end users, usage, and deployment type into the aforementioned regional segments.
Amongst these, Asia Pacific is expected to develop at a significant rate due to the ceaseless technological development in this region.
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Global Smart Advisors Market: Competitive Overview
The major vendors for smart advisors solution profiled in this report include IBM Watson, eGain Corporation, Creative Virtual Pvt Ltd., CX Company, 24/7 Customer Inc., Nuance Communications Inc., Artificial Solutions, Next IT Corporation, Speakoit Inc., and Codebaby. These players are focused on new product development, strategic alliances, mergers and acquisitions, and regional expansions to gain a competitive advantage in the global smart advisors market.
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