Intelligent Virtual Assistant Market 2020
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.
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.
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Major Key Players Analysis
The well-known companies profiled in the report include Apple Inc., Microsoft Corporation, Google, Nuance Communications, IBM Corporation, Oracle Corporation, 7.ai., Speaktoit Inc., CodeBaby Corporation, Next IT Corporation, Intel Corporation, and Clara Labs among others. 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.
The global Intelligent Virtual Assistantmarket report has been compiled after extensive market research into various parameters concerning the Intelligent Virtual Assistantindustry. An overview of the market and the market share of the different segments that the Intelligent Virtual Assistantmarket is categorized into is presented. The scope of growth of the different products/services offered by different manufacturers in the Intelligent Virtual Assistantindustry has been discussed in detail and the results have been included in the report. The market share that the global Intelligent Virtual Assistantmarket occupies is presented from the year 2020 to the year 2026 comprising the base period.
Various factors decide the market growth of the industry and the direction that it can take. These factors are identified and are listed in the report according to the effect that they can have. Based on the volume of goods produced and the value of each product sold in the global market, the market share for the different regions are predicted from the year 2020 to the year 2025 for the forecast period. Latent growth factors that can play a role in the market growth during this period are identified and are categorized for the different regions that they can act in.
The global Intelligent Virtual Assistantmarket is divided into several smaller market categories according to the different regions that each of the various market segments is located in. The regional breakdown includes the Middle East, Africa, Europe, North America, South America, and Asia-Pacific. The market share for the different regions is presented after analyzing the import and export of different products/services and the production and consumption. The data that is acquired after the analysis is completed is presented in the global Intelligent Virtual Assistantmarket report for both the forecast period from the year 2020 to the year 2026 and for the base period from the year 2020 to the year 2026.
The data that is presented in the Intelligent Virtual Assistantmarket report is analyzed and verified to ensure that it is free from errors and discrepancies that may have occurred during the collection. One of the primary analysis methods used is Porter’s Five Forces Model. It uses five distinct parameters to analyze the collected data that include the threat of substitutes, the bargaining power of customers, the threat of new entrants, the bargaining power of suppliers and competitive rivalry. The analyzed data is then presented in the Intelligent Virtual Assistantreport.
Table of Contents – Major Key Points
1. Overview and Scope
2. Executive Summary
3. Intelligent Virtual Assistants Market Insights
4. Intelligent Virtual Assistants Market Size and Forecast, 2017-2026 by Technology
5. Intelligent Virtual Assistants Market Size and Forecast, 2017-2026 by Type
6. Intelligent Virtual Assistants Market Size and Forecast, 2017-2026 by Service
7. Intelligent Virtual Assistants Market Size and Forecast, 2017-2026 by End-User
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