The report "Intelligent Virtual Assistant Market
by Product (Chatbots, IVA smart speakers), User Interface (Text-based,
Text-to-speech based, Automatic Speech Recognition), Industry (Consumer
Electronics, BFSI, Retail), and Geography - Global Forecast to 2023",
The global intelligent virtual assistant (IVA) market is expected to
grow from USD 2.48 Billion in 2017 to USD 17.72 Billion by 2023, at a
CAGR of 38.82% between 2017 and 2023. The market is expected to be
driven by the demand for automation in customer support services. At the
same time, IVA smart speakers are very much in demand for smart home
applications such as wireless-connected thermostats, air-conditioners,
and others.
• Download Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=184337393
Browse 68 Market Data Tables and 54 Figures spread through 141 Pages and in-depth TOC on "Intelligent Virtual Assistant Market"
Major companies in the overall IVA market that have been included in this report are Alphabet (US), Amazon.com (US), Apple (US), Nuance Communications (US), IBM (US), Microsoft (US), Samsung Electronics (South Korea), Inbenta Technologies (US), Baidu (China), and Blackberry (US).
BFSI sector has the highest market share of the IVA market and is expected to witness a substantial growth from 2017 to 2023
IVAs are being driven by the BFSI sector due to its demand in automated customer support services. This is due to the technological dependence of people on online transactions while managing their finances. General queries such as balance check, account status, or new schemes can be resolved through chatbots, without engaging a person for resolving such queries. This is propelling the demand for IVA devices.
The automatic speech recognition (ASR)-based IVA is expected to grow at the highest CAGR from 2017 to 2023.
The overall IVA market has been segmented on the basis of user interface. Automatic speech recognition IVAs are expected to grow at a significant rate between 2017 and 2023, driven by the growing demand for smart speakers in home automation systems. Smart home systems are increasingly being adopted especially in North America and Europe. This will fuel the growth of smart speakers that are used in controlling smart home devices such as wireless thermostats, music systems, washing machines, and others.
North America is expected to hold a large share of the IVA market through 2023
North America was the largest market in 2016, followed by Europe and APAC. This is mainly due to the awareness and the availability of smart speakers in North America This is a technologically advanced region where new technologies are adopted at the earliest. Also, major IVA players such as Apple (US), Amazon (US), and Alphabet (US) belong to North America. The IVA market in Europe is expected to hold the second-largest market share by 2023 owing to the growth of gas-sensing applications.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Contact:
Mr. Ashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
• Download Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=184337393
Browse 68 Market Data Tables and 54 Figures spread through 141 Pages and in-depth TOC on "Intelligent Virtual Assistant Market"
Major companies in the overall IVA market that have been included in this report are Alphabet (US), Amazon.com (US), Apple (US), Nuance Communications (US), IBM (US), Microsoft (US), Samsung Electronics (South Korea), Inbenta Technologies (US), Baidu (China), and Blackberry (US).
BFSI sector has the highest market share of the IVA market and is expected to witness a substantial growth from 2017 to 2023
IVAs are being driven by the BFSI sector due to its demand in automated customer support services. This is due to the technological dependence of people on online transactions while managing their finances. General queries such as balance check, account status, or new schemes can be resolved through chatbots, without engaging a person for resolving such queries. This is propelling the demand for IVA devices.
The automatic speech recognition (ASR)-based IVA is expected to grow at the highest CAGR from 2017 to 2023.
The overall IVA market has been segmented on the basis of user interface. Automatic speech recognition IVAs are expected to grow at a significant rate between 2017 and 2023, driven by the growing demand for smart speakers in home automation systems. Smart home systems are increasingly being adopted especially in North America and Europe. This will fuel the growth of smart speakers that are used in controlling smart home devices such as wireless thermostats, music systems, washing machines, and others.
North America is expected to hold a large share of the IVA market through 2023
North America was the largest market in 2016, followed by Europe and APAC. This is mainly due to the awareness and the availability of smart speakers in North America This is a technologically advanced region where new technologies are adopted at the earliest. Also, major IVA players such as Apple (US), Amazon (US), and Alphabet (US) belong to North America. The IVA market in Europe is expected to hold the second-largest market share by 2023 owing to the growth of gas-sensing applications.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Contact:
Mr. Ashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
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