Press release
Intelligent Virtual Assistant (IVA) Based Banking Market Market to Witness a Pronounce Growth Rate ~24.5% of CAGR by 2031
Intelligent Virtual Assistant (IVA) Based Banking Market
Download Sample Report: https://www.alliedmarketresearch.com/request-sample/13110
Increase in automation uses across many industries, such as BFSI, retail, residential, and others, and the rise in demand for customer service automation in the banking industry drive the growth of the global intelligent virtual assistant in banking market. However, an increase in costs for server systems hinders the growth of the market. On the other hand, growth in developments toward digital AI chatbots is anticipated to provide a potential growth opportunity for market growth.
COVID-19 Scenario:
The outbreak of the COVID-19 pandemic led to a positive impact on the growth of the global intelligent virtual assistant in banking market, owing to an increase in usage and adoption of online & digitalized banking methods among consumers globally.
Intelligent virtual assistant (IVA) based banking market technology has experienced massive growth as consumers became familiar with the chatbots and AI assistants in the market.
Moreover, banks and fintech industries are increasingly developing AI chatbots to provide precise information to customers in the post-pandemic era.
Interested in Procuring the Data? Inquire here @: https://www.alliedmarketresearch.com/purchase-enquiry/13110
The report offers detailed segmentation of the global intelligent virtual assistant in banking market based on product, user interface, and region.
Based on product, the chatbots segment held the highest market share in 2021, holding nearly three-fourths of the total market share, and is expected to continue its leadership status during the forecast period. However, the smart speakers segment is estimated to register the highest CAGR of 27.2% from 2022 to 2031.
Based on the user interface, the text-to-text segment held the largest market share in 2021, holding nearly half of the total market share, and is expected to continue its leadership status during the forecast period. However, the automatic speech recognition segment is projected to register the highest CAGR of 29.9% from 2022 to 2031.
Based on region, North America is contributed to the highest share in terms of revenue in 2021, holding more than one-third of the total market share, and is estimated to continue its dominant share by 2031. However, the Asia-Pacific region is projected to manifest the fastest CAGR of 28.0% during the forecast period.
If you have any special requirements, please let us know: @ https://www.alliedmarketresearch.com/request-for-customization/13110?reqfor=covid
Key Players in the Industry
Alphabet Inc.
Amazon.com Inc.
Artificial Solutions
IBM
Nuance Communications Inc.
CSS Corp.
eGain Corporation
Oracle
True Image Interactive, Inc.
Verint Systems Inc.
Key Benefits for Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Intelligent Virtual Assistant in Banking market analysis from 2021 to 2031 to identify the prevailing Intelligent Virtual Assistant in Banking market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
An in-depth analysis of the Intelligent Virtual Assistant in Banking market segmentation assists in determining the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes an analysis of the regional as well as global Intelligent Virtual Assistant in Banking market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product
Chatbots
Smart Speakers
By User Interface
Text-to-Text
Text-to-Speech
Automatic Speech Recognition
By Region
North America (U.S., Canada)
Europe (Germany, France, Italy, Spain, Rest of Europe, U.K.)
Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)
Trending Reports in BFSI Industry
AI in Fintech Market https://www.alliedmarketresearch.com/ai-in-fintech-market-A16644
Bank Kiosk Market https://www.alliedmarketresearch.com/bank-kiosk-market-A16954
Microfinance Market https://www.alliedmarketresearch.com/microfinance-market-A06004
Banking as a Service Market https://www.alliedmarketresearch.com/banking-as-a-service-market-A14258
Commercial Insurance Market https://www.alliedmarketresearch.com/commercial-insurance-market-A11665
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow us on LinkedIn and Twitter
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Intelligent Virtual Assistant (IVA) Based Banking Market Market to Witness a Pronounce Growth Rate ~24.5% of CAGR by 2031 here
News-ID: 3227778 • Views: …
More Releases from Allied Market Research
Global Urinary Drainage Bags Market: Trends, Growth, and Insights to 2031
The global urinary drainage bags market is experiencing robust growth, with its market size valued at $1.4billion in 2021 and projected to reach $2billion by 2031. This expansion represents a compound annual growth rate (CAGR) of 3.8% from 2021 to 2031, highlighting the increasing demand for these essential medical devices.
Get a Sample Copy of this Report: https://www.alliedmarketresearch.com/request-sample/A17529
What Are Urinary Drainage Bags?
Urinary drainage bags are specialized medical devices designed to collect…
Cream Powder Market to Reach $8.9 Billion by 2031 with 6.4% CAGR
The global cream powder industry was estimated at $4.8 billion in 2021 and is expected to hit $8.9 billion by 2031, registering a CAGR of 6.4% from 2022 to 2031.
The cream powder market is experiencing growth due to various factors, including the increasing popularity of bakeries and HoReCa (hotels, restaurants, and cafes) and rising consumer demand for natural products. The dairy-based segment is a significant contributor to the market's growth…
Micro Drone Market Valued at $6.71 Billion in 2020, Expected to Reach $28.91 Bil …
The global micro drone industry generated $6.71 billion in 2020, and is expected to reach $28.91 billion in 2030, witnessing a CAGR of 17.2% from 2021 to 2030. The report provides an extensive analysis of changing market dynamics, top segments, top investment pockets, regional landscape, value chain, and competitive scenario.
Increased operational efficiency and rise in demand for improved surveillance drive the growth of the global micro drone market. However, strict…
Microwavable Foods Market to reach $230.93 billion by 2031, growing at a CAGR of …
The global microwaveable foods industry was accounted for $120.45 billion in 2020, and is expected to reach $230.93 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
Rise in popularity of fast-food restaurants and large population base coupled with increase in number of quick-service restaurants drive the global microwaveable foods market. However, lack of awareness about microwavable foods hinders the market growth. On the contrary, rise in…
More Releases for Bank
Mortgage-Backed Security Market 2022: Industry Manufacturers Forecasts- Construc …
The Mortgage-Backed Security research report is the professional report with the premium insights which includes the size of the business, the ongoing patterns, drivers, dangers, conceivable outcomes and primary segments. The Market Report predicts the future progress of the Mortgage-Backed Security market based on accurate estimations. Furthermore, the report offers actionable insights into the future growth of the market based on inputs from industry experts to help readers formulate effective…
Doorstep Banking Services Market Challenges and Opportunities in Banking Service …
Doorstep banking is a facility provided so that user don't have to visit bank branches for routine banking activities like cash deposit, cash withdrawal, cheque deposit, or making a demand draft. The bank extends these facilities at user work place by appointing a service provider on your behalf.
This service was earlier available only to senior citizens but it is available to everyone with nominal fee charges, depending on the type…
Payments Landscape in Iran: Opportunities and Risks to 2021- Bank Saderat Iran, …
Payments Landscape in Iran: Opportunities and Risks to 2021
Publisher's "Payments Landscape in Iran: Opportunities and Risks to 2021", report provides detailed analysis of market trends in the Iranian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including payment cards and cheques during the review-period (2013-17e).
The report also analyzes various payment card markets operating in the industry, and provides detailed…
India Retail Banking Market Dynamics 2018 by SBI ICICI, HDFC, Axis Bank, Bank of …
Margins among Indian banks remained high at 6.3% in 2017 in comparison to its peers China (2.8%) and Malaysia (2.6%). The average cost-to-income ratio remained at around 53% during 2013-17, marginally higher than China (50%) and Malaysia (51%). However, there remain large disparities in operating efficiencies within the market. The same is also true for profitability, with large disparities in return on assets figures. This is due to rising compliance,…
Payments Landscape in Iran: Opportunities and Risks to 2021- Bank Saderat Iran, …
Payments Landscape in Iran: Opportunities and Risks to 2021
Publisher's "Payments Landscape in Iran: Opportunities and Risks to 2021", report provides detailed analysis of market trends in the Iranian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including payment cards and cheques during the review-period (2013-17e).
The report also analyzes various payment card markets operating in the industry, and provides detailed…
India Retail Banking Market Dynamics 2018 by SBI ICICI, HDFC, Axis Bank, Bank o …
Margins among Indian banks remained high at 6.3% in 2017 in comparison to its peers China (2.8%) and Malaysia (2.6%). The average cost-to-income ratio remained at around 53% during 2013-17, marginally higher than China (50%) and Malaysia (51%). However, there remain large disparities in operating efficiencies within the market. The same is also true for profitability, with large disparities in return on assets figures. This is due to rising compliance, regulatory, and other…
