Intelligent
Virtual Assistant market is anticipated to reach over USD 21,523.6 million
by 2026 according to a new study published by Polaris Market Research. In 2017,
the BFSI segment dominated the global market, in terms of revenue. North
America is expected to be the leading contributor to the global market revenue
during the forecast period.
Top
Companies Profiles :
Apple
Inc., Microsoft Corporation, Google, Nuance Communications, IBM Corporation,
Oracle Corporation, [24]7.ai., Speaktoit Inc., CodeBaby Corporation, Next IT
Corporation, Intel Corporation, and Clara Labs among others.
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The
growing need to improve customer service, streamline enterprise communication,
and increase productivity has boosted the adoption of intelligent virtual
assistants. The rising penetration of mobile devices, and integration of
virtual assistants with smart home appliances further support the growth of
this market. Additionally, the increasing demand of intelligent virtual
assistants from small and medium enterprises has supported market growth over
the years. Increasing investments by vendors in technological advancements
coupled with growing need to improve customer experience would accelerate the
adoption of intelligent virtual assistants. However, lack of awareness is
expected to hinder market growth. Growing demand from emerging economies is
expected to provide numerous growth opportunities in the coming years.
The use
of digital assistants and bots is expected to increase in the coming years.
Computer programs in the form of bots simulate conversation with users through
chat windows and voice calls. They have the ability to perform a number of
different automated tasks such as scheduling meetings, managing finances, and
others. They also assist in successful use of unified communication tools.
These bots could be used as an automated attendant monitoring the interactions
and offering instructions to users.
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Intelligent
virtual assistants are gradually replacing traditional interactive voice
response systems. Use of intelligent virtual assistants is proving effective by
enhancing customer and brand experience, and providing a consumer-friendly
environment. The virtual assistants also offer a platform for convenient
communication within businesses through voice, text, and other channels.
North
America generated the highest revenue in the market in 2017, and is expected to
lead the global market throughout the forecast period. The presence of
established telecom and cloud infrastructure in this region, and growing trend
of BYOD drive the market growth in the region. The growing demand of mobile
devices, and technological advancements further support market growth in the region.
Asia-Pacific is expected to grow at the highest CAGR during the forecast period
owing to growing demand of virtual assistant technologies in the developing
countries of the region.
The
end-users in intelligent virtual assistant market include healthcare,
education, retail, BFSI, government, and others. In 2017, the BFSI segment
accounted for the highest market share owing to increasing need to offer
enhanced customer services, and improve productivity. The demand for
intelligent virtual assistants has increased from organizations operating in
this sector to improve workforce collaboration, client interaction, and reduce
costs. These companies launch new products and collaborate with other
market leaders to innovate and launch new products to meet the increasing needs
and requirements of consumers.
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Complete Report @
About Polaris Market
Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavour to deliver value-added business solutions to our customers.
Contact us
Mr. Neel
Corporate Sales, USA
Polaris Market Research
Phone: 1-646-568-9980
Email: neel@polarismarketresearch.com
Web: www.polarismarketresearch.com
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavour to deliver value-added business solutions to our customers.
Contact us
Mr. Neel
Corporate Sales, USA
Polaris Market Research
Phone: 1-646-568-9980
Email: neel@polarismarketresearch.com
Web: www.polarismarketresearch.com
