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Snapshot Social media is playing an important role in the development of the global market for intelligent virtual assistants. The expanding traffic on social media platforms are prompting players to offer improved features on their sites and applications and thus, these players are banking on intelligent virtual assistants.
According to a report by Transparency Market Research TMRthe global intelligent virtual assistant market for is expected to proliferate at a remarkable The sweeping shift from analog to digital technologies in organizations worldwide is also working in favor of the market.
Moreover, the burgeoning demand for effective and sophisticated work ecosystem is translating into the greater adoption of these systems across several industries such as insurance, travel, healthcare, and government.
Demand for Intelligent Virtual Assistants to Remain Strong in Large Enterprises On the basis of technologies, the global intelligent virtual assistant market is segmented into speech recognition and text-to-speech. The segment will also exhibit the most promising prospects, progressing at a CAGR of Based on application, the market is divided into messenger bots, websites, and contact centers.
The messenger bots segment will expand at a CAGR higher than another segment during the same period. The key end users of intelligent virtual assistants are large enterprises, small and medium enterprises, and individual users.
Among these, large enterprises will be the most prominent segment throughout the forecast horizon.
The growth of the segment can be attributed to the increasing efforts by large enterprises to improve their customer care strategies. Small and medium enterprises will register a noteworthy CAGR during the same period.
The presence of a large pool of multinational organizations in the U. These organizations have been increasingly relying on intelligent virtual assistants to enhance their relationships with clients, improve customer relationship management, and support the burgeoning demand for internet self-service.
Over the coming years, the adoption of intelligent virtual assistants in the healthcare and BFSI sectors is likely to increase.
With all these factors put together, the region is poised to retain its dominance through Europe is estimated to post moderate growth during the review period, with the EU7 at the forefront of growth. Asia Pacific holds immense potential and therefore, the region is anticipated to register impressive CAGR during the same period.
The increasing emphasis on customer relationship management by both public bodies and companies is likely to trigger the demand for intelligent virtual assistants in the region.
Latin America and the Middle East and Africa are expected to experience sustainable growth in the global intelligent virtual assistant market.
In MEA, countries such as the U. Some of the prominent companies operating in the global intelligent virtual assistant market are CodeBaby Corporation, eGain Communications Corp.Intelligent virtual assistant (IVA) is a next-generation software solution that facilitates user interaction with PC, through internet, SMS, messenger and other interfaces.
Intelligent Virtual Assistant Market is expected to reach $ billion by , with a CAGR of %. Welcome to the global corporate website for the Festo Group!
The Berlin Wall—symbol of a divided city within a divided nation within a divided continent—was grounded in decades-old historical divisions at the end of World War II. Over the past few years, technology vendors and industry pundits have been espousing the mantras of Digital First, Mobile First, Cloud First and more recently AI First as a strategic direction, all within the context of Big Data, and with the business imperative of Digital Transformation.
Vol.7, No.3, May, Mathematical and Natural Sciences. Study on Bilinear Scheme and Application to Three-dimensional Convective Equation (Itaru Hataue and Yosuke Matsuda). This report aims to provide a comprehensive strategic analysis of the global intelligent virtual assistant market along with revenue and growth forecasts for the period from to Location: State Tower, 90 State Street, Suite , Albany,