Global Intelligent Virtual Assistant Market Overview And Prospects – Includes Intelligent Virtual Assistant Market Size
Learn about the global intelligent virtual assistant market through The Business Research Company, which provides information on intelligent virtual assistant market size, intelligent virtual assistant market drivers and restraints, intelligent virtual assistant market players, the COVID-19 impact on the intelligent virtual assistant market, and more.
The global intelligent virtual assistants market size is expected to grow from $7.26 billion in 2021 to $9.60 billion in 2022 at a compound annual growth rate (CAGR) of 32.18%. The global intelligent virtual assistant market size is expected to reach $32.10 billion in 2026 at a CAGR of 35.23%.
The increasing demand for self-service options is driving the growth of the intelligent virtual assistant market.
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The intelligent virtual assistant market consists of sales of intelligent virtual assistants by entities (organizations, sole traders, and partnerships) that refer to an artificial intelligence (AI)-enabled converse adjunct that generates individualized responses by combining analytics and cognitive computing grounded on individual client information, one’s exchange and position, using the commercial knowledgebase and mortal sapience. An intelligent virtual assistant is more advanced than a simple chatbot, which is automated but not powered by artificial intelligence.
Global Intelligent Virtual Assistant Market Segments Include:
By Product: IVA (Intelligent Virtual Assistant) Smart Speaker, Chatbots
By User Interface: Text-to-Text, Text-to-Speech, Automatic Speech Recognition
By End-User: Retail, BFSI, Healthcare, Telecom, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the intelligent virtual assistants market in 2021.
Technological advancement is a key trend gaining popularity in the intelligent virtual assistant market. Major companies operating in the intelligent virtual assistant market are focused on developing new technological solutions for intelligent virtual assistants such as user preferences and privacy features to strengthen their position in the market. These technologically advanced features in intelligent virtual assistants offer better accuracy and output, are easy to use, and protect the privacy of users.
Major Market Players: Amazon.com Inc, Apple Inc, IBM Corporation, Nuance Communications Inc, Alphabet Inc, Inbenta Technologies Inc, Microsoft Corporation, Baidu Inc, BlackBerry Ltd, Artificial Solutions, EGain Corporation, IPsoft Inc (Amelia), Avaamo, Alibaba Group, Xiaomi Inc and Oracle.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Intelligent Virtual Assistant Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides intelligent virtual assistant market overviews, analyzes and forecasts market size, share, intelligent virtual assistant market players, intelligent virtual assistant market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s intelligent virtual assistant market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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