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Intelligent Virtual Assistant (IVA) Market Share

Name: Intelligent Virtual Assistant (IVA) Market Size – Industry Outlook 2024
Creator: Global Market Insights
License: https://www.gminsights.com/privacy-policy

Report ID: GMI1094
Published Date: Dec 2018
Report Format: PDF

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Intelligent Virtual Assistant Market Share

Key players in the IVA market include

Clara Labs
Nuance Communications
Creative Virtual
InteliWISE
Artificial Solutions
eGain Communications
24/7 Customer, Inc
Anboto

The industry is highly competitive and is driven by continuous innovations & technological advancements. These companies need to differentiate to gain a competitive edge and hence they invest heavily in R&D.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of intelligent virtual assistant was USD 1 billion in 2017.

The industry share of intelligent virtual assistant is projected to witness more than 37% growth rate during 2018 to 2024.

Global Market Insights, Inc., claims that Germany is likely to depict massive market demand in the forthcoming years, given the rising deployment of voice assistants in consumer electronic devices.

SMBs are expanding rapidly and are rapidly adopting IVAs to reduce operating costs and enhance business operations to cater to specific customer service requirements.

Speech recognition technology will gain precedence owing to fact that it allows customers to interact and perform tasks via smartphones and helps industries such as retail and BFSI to deploy the technology for operational enhancement.

The BFSI applications are expected to expand at more than 20% CAGR during the forecast timeframe. The adoption of the IVA technology in the BFSI sector is mainly due to benefits offered by the technology such as quickly finding answers to queries and reducing the response time.