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The future of the intelligent virtual assistant market looks promising with opportunities in the BFSI, automotive, healthcare, consumer electronics, IT & telecommunication, defense & government, retail, traveling & hospitality, media & entertainment industries. The global intelligent virtual assistant market is expected to grow with a CAGR of 37% to 39% from 2021 to 2026. The major drivers for this market are increasing adoption of IVA solutions, increasing adoption of smartphones, and increasing demand for automation in customer service.
A more than 150 page report is developed to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of intelligent virtual assistant market report download the report brochure.
The study includes trends and forecast for the global intelligent virtual assistant market by user interface, product type, end use industry, and region as follows:
By Product Type [$M shipment analysis for 2015 – 2026]:
By User Interface [$M shipment analysis for 2015 – 2026]:
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Text-to-Speech
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Speech Recognition
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Text-Based
By End Use Industry [$M shipment analysis for 2015 – 2026]:
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BFSI
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Consumer Electronics
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IT & Telecommunications
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Defense & Government
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Retail
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Healthcare
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Travelling & Hospitality
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Automotive
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Media & Entertainment
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Others
By Region [$M shipment analysis for 2015 – 2026]:
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North America
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United States
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Canada
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Mexico
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Europe
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Germany
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United Kingdom
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France
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Italy
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Asia Pacific
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China
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Japan
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India
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South Korea
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The Rest of the World
Chatbots will remain the largest segment due to the growing adoption in banking and insurance sectors, retail industry, and educational portals and highest adoption in the healthcare industry.
Consumer electronics will remain the largest end use industry during the forecast period due to high penetration of IoT and increasing demand in home automation system.
Asia Pacific will remain the largest region the forecast period due to high technological adoption of IVAs in industries and growing retail and consumer electronics sectors in China.
Some of the intelligent virtual assistant companies profiled in this report include Alphabet Inc., Amazon.com, Inc., Apple Inc., Nuance Communications, Inc., Samsung Electronics Co., Ltd., IBM, Microsoft, Inbenta Technologies, Baidu, Blackberry.
Features of Intelligent Virtual Assistant Market
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Market Size Estimates: Intelligent Virtual Assistant market size estimation in terms of value ($M)
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Trend and Forecast Analysis: Market trends (2015-2020) and forecast (2021-2026) by various segments and regions.
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Segmentation Analysis: Market size by product type, user interface, and end use industry
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Regional Analysis: Intelligent Virtual Assistant market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
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Growth Opportunities: Analysis on growth opportunities in different end use industries, product type, user interface, and regions for intelligent virtual assistant market.
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Strategic Analysis: This includes M&A, new product development, and competitive landscape for the intelligent virtual assistant market.
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Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
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This report answers following 11 key questions |
Q.1 What are some of the most promising potential, high-growth opportunities for the global intelligent virtual assistant market by product type (chatbots and smart speaker), user interface (text-to-speech, speech recognition, and text-based), end use industry (BFSI, automotive, consumer electronics, healthcare, IT & telecommunication, defense & government, retail, traveling & hospitality, media & entertainment, and other), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the intelligent virtual assistant market?
Q.5 What are the business risks and threats to the intelligent virtual assistant market?
Q.6 What are emerging trends in the intelligent virtual assistant market and the reasons behind them?
Q.7 What are some changing demands of customers in the intelligent virtual assistant market?
Q.8 What are the new developments in the intelligent virtual assistant market? Which companies are leading these developments?
Q.9 Who are the major players in the intelligent virtual assistant market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the intelligent virtual assistant market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities did take place in the last five years in the intelligent virtual assistant market? |