DUBLIN, Nov. 16, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/k753ph/global) has announced the addition of the "Global Intelligent Virtual Assistant Market 2015-2019 - Market Study" report to their offering.
The analysts forecast the global intelligent virtual assistant market to grow at a CAGR of 54.32% over the period 2014-2019.
Global Intelligent Virtual Assistant Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC, and EMEA; it also covers the landscape of the market and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
The global IVA market is highly fragmented because there is no proprietary technology or knowledge that can prevent new companies from entering the market. In addition, the cost of developing a company's own IVA product is low because of the availability of numerous open-source NLP engines. This has resulted in an increase in the number of companies providing this technology at a low price to find a place in the market.
According to the report, web self-service enables customers and employees to use the enterprise website without the need to interact with a representative of an enterprise. Enterprises deploy VA software as it eases web self-services through automatic analysis, and the search for new content eradicates the need for any specialist skills or dedicated resources to answer client queries.
Further, the report states that customers can query in the form of text as well as speech, as VAs use NLP technology and semantic search techniques to provide an answer. These techniques use complex algorithms to understand user objectives and sentiments to generate an appropriate response. As a customer query may vary from being very technical to being very basic, it is very difficult for VAs to keep track of all forms of inquiries. Different customers may ask the same question in many different ways, which also complicates the communication with the VAs.
The report includes the present scenario and the growth prospects of the global intelligent virtual assistant market for the period 2015-2019.
On the basis of end-user, the market is categorized into two segments:
- Large enterprises
Large enterprises and SMEs are further classified into:
- Anboto Group
- Creative Virtual
- CX Company
- Inbenta Technologies
- Next IT
- Nuance Communications
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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SOURCE Research and Markets