The "Intelligent Virtual Assistant Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global intelligent virtual assistant market reached a value of around US$ 4 Billion in 2020. Looking forward, the publisher expects the global intelligent virtual assistant market to exhibit strong growth during the next five years.
An intelligent virtual assistant (IVA), also known as intelligent personal assistant (IPA), is a software that understands natural language voice commands and aids in completing basic tasks. These tasks can include drafting text messages, searching for information on the internet, finding hotels or restaurants, checking flight reservations, listening to the music, playing games, adding events in a calendar and checking the status of smart home devices. Owing to this, these assistants are nowadays integrated into most gadgets, such as smartphones, smartwatches, tablets and portable speakers. Some of the most popular IVAs include Google Assistant, Apple's Siri, Microsoft's Cortana and Amazon's Alexa.
The increasing investment in research and development activities (R&D) by some of the leading players for introducing innovative products in the industry is strengthening the market growth. For instance, announced in May 2018, Google Duplex is a new project wherein Google Assistant allows users to make reservations via a smartphone without any interaction from their end. Apart from this, the escalating sales of smartphones, along with the rising influence of social media platforms, have led to a substantial rise in consumer awareness about the benefits offered by IVAs worldwide. Besides this, the high demand for automation in services that provide customer support is also impelling the market growth. Furthermore, the rising usage of IVAs by the young generation, coupled with the consistently improving consumer experience, is catalyzing their demand around the world.
Nuance Communications Inc
Samsung Electronics Co. Ltd.
International Business Machines (IBM) Corporation
Inbenta Technologies Inc
Key Questions Answered in This Report:
How has the global intelligent virtual assistant market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global intelligent virtual assistant market?
What are the key regions in the market?
Which are the popular types in the market?
Which are the key products in the market?
What are the key application segments in the market?
What are the major technologies in the market?
What are the various stages in the value chain of the global intelligent virtual assistant market?
What are the key driving factors and challenges in the global intelligent virtual assistant market?
What is the structure of the global intelligent virtual assistant market and who are the key players?
What is the degree of competition in the global intelligent virtual assistant market?
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Intelligent Virtual Assistant Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Product
5.5 Market Breakup by Type
5.6 Market Breakup by Technology
5.7 Market Breakup by Application
5.8 Market Breakup by Region
5.9 Market Forecast
5.10 SWOT Analysis
5.11 Value Chain Analysis
5.12 Porters Five Forces Analysis
6 Market Breakup by Product
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 IVA Smart Speakers
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Type
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Conversational AI Based
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Technology
8.1.1 Market Trends
8.1.2 Market Forecast
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Automatic Speech Recognition (ASR)
8.3.1 Market Trends
8.3.2 Market Forecast
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by Application
9.1 Banking, Financial Services and Insurance (BFSI)
9.1.1 Market Trends
9.1.2 Market Forecast
9.2.1 Market Trends
9.2.2 Market Forecast
9.3.1 Market Trends
9.3.2 Market Forecast
9.4.1 Market Trends
9.4.2 Market Forecast
9.5.1 Market Trends
9.5.2 Market Forecast
9.6.1 Market Trends
9.6.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.3 Asia Pacific
10.4 Middle East and Africa
10.5 Latin America
11 Competitive Landscape
11.1 Market Structure
11.2 Key Players
11.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/n24mgs
View source version on businesswire.com: https://www.businesswire.com/news/home/20210514005401/en/
Laura Wood, Senior Press Manager
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