Intelligent Virtual Assistant Market Research Reports 2024 |Aarkstore.com

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Intelligent Virtual Assistant Market was valued at $1.1 billion in 2016 and is projected to reach $11.9 billion by 2024, having a CAGR of 34.8 % during the forecasted period of 2017 to 2024.In 2016, Speech recognition technology segment held the largest share of the global IVA market.



Intelligent Virtual Assistant (IVA) is a next-gen software application which facilitates the human interaction with the computer via various platforms such as, the internet, SMS, and messenger. IVA systems use various methods for interaction with the person and are extremely popular among young and tech savvy users. 

The various interaction methods include text-to-text, text-to-speech, speech-to-text, and speech-to-speech. Faster rigid training process, uniform support for customers, and value addition to the future ready products are popular advantages of IVA. The Global IVA market has exhibited a tremendous growth in the past and is expected to show robust growth in upcoming years.

Market Segmentation

The global intelligent virtual assistant market is segmented on the basis of technology, industry verticals, and geography. The technology is bifurcated into Speech Recognition and text-to-speech. The industry verticals are classified as Automotive, Healthcare, BFSI, Retail/e-commerce, and Others. Geographically, the market is segmented as North America, Europe, Asia-Pacific and Rest of World. The North American market holds the biggest share of the global IVA market and expected to grow at CAGR of 32.3 %. The banking and finance sector is expected to exhibit highest growth rate within industry vertical segment.

Some major player of the market is Anboto Group, Artificial Solutions Ltd., CodeBaby Corporation, Creative Virtual Ltd, CX Company, eGain Corporation, IntelliResponse Systems Inc., Next IT Corporation, Nuance Communications Inc., and Speaktoit LLC.

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Related Reports:

Global Intelligent Lightning Monitoring System Market Research Report 2018

Global Intelligent Packaging Market Research Report 2018

Intelligent Virtual Assistant Market to 2025 - Global Analysis and Forecasts by Service, Technology and End-User

Global Intelligent Virtual Assistant (IVA) Market Research Report 2016

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