"Smart Strategies, Giving Speed to your Growth Trajectory"

Intelligent Virtual Assistant Market Size, Share and Global Trend By Technology (Speech Recognition, Text-To-Speech, Voice Recognition), By Service (Customer service, Marketing assistant), By End Use (SMBs, Large Enterprises, Individual Users), By Application (Automotive, BFSI, Retail, IT & Telecom, Healthcare, Education), and Geography Forecast till 2026

Region : Global | Report ID: FBI100758 | Status : Ongoing

 

KEY MARKET INSIGHTS

Intelligent Virtual Assistant (IVA) is an artificial intelligence which is used for interacting with humans to perform tasks via speech or text, with the help of machine learning, neural networks and other advancements in AI technologies. Industries, where intelligent virtual assistant can be used, are automotive, BFSI, retail, IT & telecom, healthcare, education, hospitality & tourism, among others.


For instance, with the execution of an intelligent virtual assistant, Hyatt significantly decreased their expense per call. They also expanded what number of reservations can be made every hour while improving the exactness of information caught. By and large, Hyatt is presently sparing approximately 45 percent on its contact focus costs and has accomplished an ROI of approximately 120 percent.

To gain extensive insights into the market, Request for Customization


Westar Energy, a leading service provider in Kansas, required a client care arrangement that would eliminate operator handle times and improve self-administration. With the implementation of intelligent Virtual Assistant set up, more than 30 percent of Westar's guests are able to finish their exchanges through self-administration. Past that, over 75 percent of guests are happy with their general involvement, and Westar has seen an over a quarter of expansion in its JD Power scores since the IVA execution.


Enormous organizations, from innovation powerhouses like Google to automobile makers, for example, BMW, are investing vigorously in Intelligent Virtual Assistants. this industry is at a point now where these artificial intelligence-driven interactions are something beyond a feature – they're for now is the product in themselves. Speaking with Intelligent Virtual Assistants isn't a luxury any longer – it's turning into an expected feature.


Key Players Covered


The key players providing intelligent virtual assistant services are Nuance Communications Inc., Oracle Corporation, Apple Inc., Microsoft, eGain Corporation, Amazon, Verint, IBM Corporation, Google Inc., MedRespond, CSS Corp., Clara Labs, Artificial Solutions and True Image Interactive Inc. among others.


For instance, Oracle Digital Assistant empowers organizations to construct customized computerized associates to enable representatives to work smarter and all the more productively. With this innovation, workers can have trained to support domain skills HR, ERP, CRM and CX. Utilizing AI, Oracle Digital Assistant gets setting, infers purpose, and recognizes and learns client practices and examples to automate routine undertakings proactively.


SEGMENTATION






























SEGMENTATION



 DETAILS



By Technology



· Speech Recognition


· Text-To-Speech


· Voice Recognition



By Service



· Customer service


· Marketing assistant



By End Use



· SMBs


· Large Enterprises


· Individual Users



By Application



· Automotive


· BFSI


· Retail


· IT & Telecom


· Healthcare


· Education



By Geography



· North America (USA and Canada)


· Europe (UK, Germany, France, Scandinavia and Rest of Europe)


· Asia Pacific (Japan, China, India and Rest of Asia Pacific)


· Latin America (Brazil, Mexico and Rest of Latin America)


· Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)



Regional Analysis


According to sources, sround 90 percent of Fortune 1000 business is predicted to add a virtual assistant to its technology marketing stack by 2020. North America held the largest market share in 2018. The expected revenue of above US$ 50 Bn to be generated by smart homes in the USA, which will boost the market of virtual assistants. Europe is anticipated to register significant growth in the coming few years. Healthcare and automotive industry are likely to have a maximum share of IVA. There are expectedly to have more than 5.5 billion mobile broadband subscriptions by 2020, China and India being the major contributor.


Key Industry Developments



  • May 2019: AI-powered voice interaction, new intelligent personal assistant of nuance automotive mobility assistant is coming up BMW’s personal assistant, powering a multitude of features that are core to the in-car experience such as customizable wake-up word, voice-powered interaction, smart, voice-activated car manual among other.
  • October 2017: CSS Corp's Yodaa, a virtual assistant platform enabling voice and text interactions for client administration, is one of the lab's latest advancement. its s a start to finish arrangement with broad information ingestion, analytics and reporting capabilities. it is of AI capacities and progressed measurable models that drive client lifecycle management to understand customers'' purpose, issues and proactively hit the objective with the correct proposals and remediation.

Intelligent Virtual Assistant Market  Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2019
  • 2016-2018

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Information & Technology Clients

Intel_logo
Samsung
ABB_logo
Google
HP_New_Logo_2D

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.
X