Global Intelligent Virtual Assistant Market

Global Intelligent Virtual Assistant Marketin 2016 was valued at USD 2.48 Billion. Considering the factors that are driving the market and are supposed to drive the market in forecast period, it is expected to grow at 37.82 % CAGR to reach USD 23.42 Billion by 2024.Increasing Adoption of Chatbots Because of the Availability of Low-Cost Software Modules for Chatbot Design, Demand for Automation in Customer Service, Integration of Speaker-Based Virtual Assistants and Smart Home Appliances is Driving the Market of Smart Speakers increases the market competition and have resulted in betterment of Global Intelligent Virtual Assistant Market and Lack of Accuracy in Chatbot, System Integration Complexities then Add to the Cost of Smart Speakers will count down the Global Intelligent Virtual Assistant Market. Global Intelligent Virtual Assistant Market is segmented by Product, by Type, by User Interface, Industry and geography. A product of Intelligent Virtual Assistance is sub-segmented into Chatbots, IVA Smart Speaker. An IVA Smart Speaker is estimated to grow the largest market in forecasting period. This is due to the large adoption of home automation systems. The Type of Intelligent Virtual Assistant market is of Rule based, Conversational AI based. Conversational AI based Intelligent Virtual Assistance has the largest share market in the year 2016. User Interface of Global Intelligent Virtual Assistant Market is commonly packaging devices of Text Based, Text-To-Speech, Automatic Speech Recognition (ASR) and other. Here, Automatic Speech Recognition (ASR) is estimated to have the largest market in forecasting period. Many often Global Intelligent Virtual Assistant Market is used in Automatic Speech Recognition (ASR) increased due to the deployment of smart speakers. Last, Consumer Electronics, BFSI, Government, Retail, Utilities, Healthcare, Education, Travel, Hospitality and Others are all sub-segment of Industries sector. Thus, among this Consumer Electronics segment is estimated to have the largest market in the forecasting period. Thus this growth is attributed to increased efficiency. The Intelligent Virtual Assistance market on the basis of regions is segmented by North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. The years that have been considered for the study are: • Base year – 2016 • Estimated year – 2017 • Forecast period – 2017 to 2024 Key Highlights: • Assessment of market definition along with the identification of key players and analysis of their strategies to determine the competitive outlook of the market, opportunities, drivers, restraints and challenges for Global Intelligent Virtual Assistant Market during the forecast period • Complete quantitative analysis of the industry from 2017 to 2024 to enable the stakeholders to capitalize on the prevailing market opportunities • In-depth analysis of the industry on the basis of market segments, market dynamics, market size, competition & companies involved value chain • Global Intelligent Virtual Assistant Market analysis and comprehensive segmentation with respect to the Product, Type, User Interface, Industry and geography to assist in strategic business planning • Global Intelligent Virtual Assistant Markett analysis and forecast for five major geographies North America, Europe, Asia pacific, Middle East & Africa, Latin America and their key regions Research Methodology: Global Intelligent Virtual Assistant Market is estimated by analyzing the data points obtained from various sources and conducting them into a predictor model created specifically for each individual market. The data points are extracted from paid and unpaid sources along with paid primary interviews with key opinion leaders in the market. Key opinion leaders from both demand and supply sides of the market were considered while conducting interviews to get the unbiased idea of the Global Intelligent Virtual Assistance Market. This exercise was done at the country level to get the fair idea of the market in countries considered for this analysis. This country-specific analysis was accumulated to establish regional numbers and then arrive at the global market value for Global Intelligent Virtual Assistance Market.

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