Intelligent Virtual Assistant Market PPT 2019 | Enhancing Huge Growth & Trends by Top Players

Global Intelligent Virtual Assistant Market Research Report and Forecast 2024 Report Edition: 2019 © 2019 IMARC All Rights Reserved

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Global Intelligent Virtual Assistant Market Overview: Intelligent virtual assistant refers to a software agent based on artificial intelligence, which helps in performing several tasks for an individual. In order to enhance the user interface, it emulates human interaction and is integrated with gadgets like smartphones, tablets, portable speakers, smart-watches, etc. As the majority of intelligent virtual assistants employ online resources for answering user’s queries, they do not work without an internet connection. Some of the widely used intelligent virtual assistants include Google Assistant, Apple’s Siri, Amazon Alexa and Microsoft Cortana. A new research report titled “ Intelligent Virtual Assistant Market: Global Industry Trends, Share, Size, Growth, Opportunity and Fore cast 2019-2024 ” by IMARC Group estimates that the global intelligent virtual assistant market was worth US$ 2.2 Billion in 2018. The report further anticipates the market to reach US$ 11.3 Billion by 2024, at a projected CAGR of 31% over the forecast period.

Request for a free sample report: https://www.imarcgroup.com/intelligent-virtual-assistant-market/requestsample Global Intelligent Virtual Assistant Market Drivers/Constraints:

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157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

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120.2 2011

2012

2013

2014

2015

2016

2017

2018

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in Billion US$

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180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

Social media offers marketing platform to the developers for introducing intelligent virtual assistant amongst consumers. This coupled with a strong penetration of smartphones has propelled the market growth.

However, the voice recognition is yet to improve amongst several Intelligent virtual assistant technologies. Moreover, its initial price acts as one of the factors impeding the market growth.

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Technological advancements have led to a significant shift from analogue to digital technologies in a number of organisations, thereby widening the market opportunities for intelligent virtual assistant.

Other factors such as reduced cost of customer service operations and robust dependence on the internet have further resulted in increased usage of Intelligent virtual assistant among the younger generation.

For more information, click here: https://www.imarcgroup.com/intelligent-virtual-assistant-market Key Market Segmentation: Market Segmentation by Product • •

Chatbots IVA Smart Speakers

On the basis of product, the market is classified as chatbots and IVA smart speakers. Chatbot is a computer programme which carries out conversations via textual means. On the other hand, smart speakers are wireless speakers which encompasses a virtual assistant, playing data as and when commanded.

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Report Description Market Segmentation by Type • •

Rule Based Conversational AI Based

At present, rule based exhibits a clear dominance in the global intelligent virtual assistant market. Rule based is followed by conversational Al Based.

Market Segmentation by Technology • • • •

Text Based Text-To-Speech Automatic Speech Recognition (ASR) Others

On the basis of technology, the market is segmented as text based, text-to-speech, automatic speech recognition (ASR) and others.

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Market Segmentation by Application • • • • • •

BFSI Travel Retail Government Education Others

Based on end-use, the report finds that BFSI currently represents the largest end-use segment of intelligent virtual assistant market. BFSI is followed by travel, retail, government, education and others.

Market Segmentation by Region • • • •

North America Europe Asia Pacific Middle East and Africa

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Latin America

On a geographical front, North America enjoys a top position in the global intelligent virtual assistant market, accounting for the biggest market share. North America is followed by Europe, Asia Pacific, Middle East and Africa.

Browse Related Report Virtual Reality Headset Market Report: https://www.imarcgroup.com/virtual-reality-headset-market Virtual Reality Gaming Market Report: https://www.imarcgroup.com/virtual-reality-gaming-market Competitive Landscape: The market is highly fragmented and surrounded by numerous small and large manufacturers who compete in terms of prices and quality. There is an rigid competition in the market which makes it hard for small players to survive. Some of the leading players operating in the market include:

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Microsoft Nuance Communications Samsung Electronics Alphabet Apple Amazon International Business Machines (IBM) Baidu Blackberry Inbenta Technologies

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