MRRSE has recently added a research document to their roster titled “Intelligent Virtual Assistant Market (By Technology - Text-to-Speech, Speech Recognition; By End User - Individual Users, Small and Medium Enterprise Users, Large Enterprise Users) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019”.
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Intelligent virtual assistant market overviews, trends and complete forecast report for 2019
1. Intelligent Virtual Assistant Market Overviews, Trends and
Complete Forecast Report For 2019
Report Description
Intelligent virtual assistant acts as the primary interface
between digital data and customers. This software agent
performs tasks based on the input provided and by accessing
2. the information online on various sources. Intelligent virtual
assistant technology incorporates the combination of a user
interface, mobile device and mobile application. The ability
to organize and maintain information is one of the key
characteristic of intelligent virtual assistant. At present, most
websites place burden on end users to find answers to their
queries. If end users are not able to find relevant
information, they usually abandon the search and contact live
customer service representatives. Companies need cost
effective ways to effectively and efficiently respond to
customer needs. Hence, most companies are turning to
interactive online channels such as intelligent virtual
assistants and web chats.
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virtual-assistant-industry-market
Key factors driving the global intelligent virtual assistant
market include increasing adoption in large enterprises in
order to replace traditional methods of customer engagement
and innovation in the field of speech recognition technology
in smartphones. Further, small and medium enterprises are
anticipated to embrace intelligent virtual assistants since the
cost of these software is anticipated to reduce on account of
increasing competition. Moreover, with rising popularity of
speech recognition applications in smartphones, the intelligent
virtual assistant market is expected to witness significantly
high growth in the near future. Furthermore, expanding
4. applications of intelligent virtual assistants across end-use
sectors such as healthcare, e-commerce and banking offer
potential opportunities for growth in near future. This is
evident from the research and development activities carried
out by key players such as Nuance Communication Corp. and
Next IT Corp. among others.
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The global intelligent virtual assistant market is segmented by
technology, end-users, and by geographic regions. Based on
technology, the market is segmented into text-to-speech and
speech recognition technology. Based on end-users, the
5. intelligent virtual assistants market is segmented into
individual users, small and medium enterprise, and large
enterprise. The market size and forecasts in terms of revenue
(US$ Mn) for each of these segments have been provided for
the period 2013 to 2022, considering 2013 and 2014 as the
base years. The report also provides compounded annual
growth rate (CAGR) for each segment of the market for
forecast period 2015 to 2022. Geographically, the intelligent
virtual assistant market has been segmented into five regions,
namely, North America, Europe, Asia-Pacific, Middle East and
Africa (MEA) and Latin America.
The report includes market dynamics, key trends analysis and
brief analysis of intelligent virtual assistant technologies such
6. as Jibo, Siri, Cortana, Google Now and Alexa Voice. The
report also includes analysis of key participants in the
intelligent virtual assistant along with their role in the
ecosystem. The report also highlights competitive strategies
adopted by key players in the global intelligent virtual
assistant market. We have included future trends that will
impact the demand.
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Some of the key players in the intelligent virtual assistant
marketplace include Next IT Corporation, Creative Virtual
Ltd., Anboto Group, CodeBaby Corporation, IntelliResponse
7. Systems Inc., Nuance Communications Inc., Speaktoit Inc.,
Artificial Solutions Ltd. and eGain Communication
Corporation.
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