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Intelligent Virtual Assistant Market 2020: Global Segments, Recent Trends, Sales Revenue, Emerging Technologies, Competitive Landscape and Top Key Players Analysis Microsoft, IBM, Alphabet, Apple, Amazon by Forecast to 2025

05-05-2020 04:28 AM CET | IT, New Media & Software

Press release from: Business Industry Reports

/ PR Agency: Business Industry Reports
Intelligent Virtual Assistant Market

Intelligent Virtual Assistant Market

Global Intelligent Virtual Assistant Market overview:

The growing demand for Intelligent Virtual Assistant has provided a major boost to the Global Intelligent Virtual Assistant Market as more people are shifting their preferences to this growing sector. The market is expected to keep rising at a high CAGR and reach values of high millions by the end of the forecast period of 2020 up to 2024.

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Increase in demand for effective customer engagement by enterprises would lead to higher adoption of Intelligent Virtual Assistant solutions in these verticals in the near future. Currently, the intelligent virtual assistant market is majorly driven by the BFSI industry vertical, owing to its higher adoption and increasing IT investment. However, automotive & healthcare are the most lucrative vertical segments and are likely to maintain this trend during the forecast period.

The global Intelligent Virtual Assistant Market is primarily segmented based on Product Type, Application, End-Use Industry and Regions.

Based on Product Type, the market is divided into:

1 Rule-Based

2 Conversational Ai-Based

On the basis of End Use Industry, the market is split into:

1 Consumer Electronics

2 BFSI

3 Healthcare

4 Education

5 Retail

An Intelligent Virtual Assistant is a software that is developed on artificial intelligence system. It stimulates or provides responses assimilar to human interactions and perform particular tasks such as customer service. Virtual assistants are widely being adopted across industry verticals due to machine learning, deep neural networks, and other advancements in artificial intelligence technologies. The intelligence technology integrated into these systems indicates the capacity for understanding, reasoning, and learning. These three are primary key elements that emulate a customer service agent's ability to response to queries. Intelligent Virtual Assistant systems use various interaction methods, which include text-to-text, speech-to-text, text-to-speech, and speech-to-speech, among others to assist users in executing their respective tasks.

Objectives of the Study

To describe and forecast the global Intelligent Virtual Assistant Market on the basis of Product Type, industry verticals, Channel and regions.

To forecast the Intelligent Virtual Assistant Market size of the five main regional segments, namely North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America.

To strategically analyzesubsegments with respect to individual growth trends, future prospects, and contribution to the total market.

To provide detailed information regarding the major factors influencing the growth of the Intelligent Virtual Assistant Market (drivers, restraints, opportunities, and challenges).

To analyze the opportunities in the market for stakeholders and to provide details of competitive landscape for major players.

To strategically profile key players and comprehensively analyze their core competencies and positioning.

To track and analyze competitive developments such as mergers and acquisitions, new product developments, and partnerships, agreements & collaborations in the Intelligent Virtual Assistant Market.



Some of the Intelligent Virtual Assistant Market manufacturers involved in the market are Microsoft, Nuance Communications, Samsung Electronics, Alphabet, Apple, Amazon, International Business Machines (Ibm), Baidu, Blackberry, Inbenta Technologies, Acquisitions and effective mergers are some of the strategies adopted by the Intelligent Virtual Assistant Market manufacturers. New product launches and continuous technological innovations are the Intelligent Virtual Assistant Market strategies adopted by the major players.

Latest Industry Updates:

International Business Machines (Ibm):- BM Services is partnering with the world's leading companies to reimagine and reinvent their business through technology. We co-create new business models, processes and infrastructure that embraces digital disruption and drives revenue growth. We design personalized customer experiences that drive loyalty enabled by deep industry expertise, data driven analytics and technology. By integrating leading market place technology and IBM's advanced R&D labs, we can modernize and optimize any business. We are trusted to deliver secure, resilient and reliable services. We are dedicated to running smart operations, continuously learning and improving efficiency and quality, with AI and automation. No one has helped more businesses grow globally. We deliver sustained value for clients that make a difference in the real world.

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Asia Pacific was a prominent market for Intelligent Virtual Assistants in 2016. Among the countries in Asia Pacific, the demand was substantially high in developing countries such as China and India. These countries have been witnessing rapid increase in its population along with expansion of their overall economies, which has led to increase in disposable income. Increased spending on home interiors is fuelling the Intelligent Virtual Assistant market in Asia Pacific.

There are several manufacturers of Intelligent Virtual Assistants in Europe and North America. In North America, the demand for Intelligent Virtual Assistants is primarily driven by the residential sector. Improved standards of living and rising usage of Intelligent Virtual Assistants for flooring purpose are anticipated to drive the market in North America.

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Table of Contents:

Global Intelligent Virtual Assistant Market Report 2020

1 Intelligent Virtual Assistant Definition

2 Global Intelligent Virtual Assistant Market Major Player Share and Market Overview

3 Major Player Intelligent Virtual Assistant Business Introduction

4 Global Intelligent Virtual Assistant Market Segmentation (Region Level)

5 Global Intelligent Virtual Assistant Market Segmentation (Product Type Level)

6 Global Intelligent Virtual Assistant Market Segmentation (Industry Level)

7 Global Intelligent Virtual Assistant Market Segmentation (Channel Level)

8 Intelligent Virtual Assistant Market Forecast 2020-2024

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About us

BusinessindustryReports.com is digital database of comprehensive market reports for global industries. As a market research company, we take pride in equipping our clients with insights and data that holds the power to truly make a difference to their business. Our mission is singular and well-defined - we want to help our clients envisage their business environment so that they are able to make informed, strategic and therefore successful decisions for themselves.

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