Insights Into the Global Intelligent Virtual Assistant Market (2019-2024): BFSI Represents the Largest Application Segment Owing to High Demand in Automated Customer Support Services

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Jul 01, 2019, 09:30 ET

DUBLIN, July 1, 2019 /PRNewswire/ -- The "Intelligent Virtual Assistant Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.

According to the report, the global intelligent virtual assistant market reached a value of US$ 2.2 Billion in 2018. Looking forward, the market value is projected to reach US$ 11.3 Billion by 2024, expanding at a CAGR of 31% during 2019-2024.

This report provides a deep insight into the global intelligent virtual assistant market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc.

Market Drivers & Segmentation

The growth of the global intelligent virtual assistant market is being primarily driven by the penetration of smartphones along with a rapid growth in the social media traffic which has led to a substantial rise in the consumer awareness about benefits offered by intelligent virtual assistants.

Additionally, a significant shift from analogue to digital technologies in organisations across the globe is propelling the demand for intelligent virtual assistants.

Apart from this, a high demand for automation in services that offer customer support is another factor which is driving the growth of the market.

Moreover, rising usage by young generation coupled with improved consumer experience are some of the other factors which are positively influencing the market growth.

On the basis of application, BFSI represents the largest segment owing to a high demand in automated customer support services. It is followed by travel, retail, government, education and other sectors.

Region-wise, the market has been segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America. Currently, North America dominates the market, holding the majority of the market share.

The competitive landscape of the market has also been examined with some of the key players being Microsoft, Nuance Communications, Samsung Electronics, Alphabet, Apple, Amazon, International Business Machines (IBM), Baidu, Blackberry and Inbenta Technologies.

Key Questions Answered

How has the global intelligent virtual assistant market performed so far and how will it perform in the coming years?
What are the key regions in the global intelligent virtual assistant market?
Which are the popular products in the global intelligent virtual assistant market?
What are the different technologies in the global intelligent virtual assistant market?
What are the key application segments in the global intelligent virtual assistant market?
What are the major types in the global intelligent virtual assistant 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?

Topics Covered

1 Preface

2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Key Industry Trends

5 Global Intelligent Virtual Assistant Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Product
5.4 Market Breakup by Type
5.5 Market Breakup by Technology
5.6 Market Breakup by Application
5.7 Market Breakup by Region
5.8 Market Forecast
5.9 SWOT Analysis
5.9.1 Overview
5.9.2 Strengths
5.9.3 Weaknesses
5.9.4 Opportunities
5.9.5 Threats
5.10 Value Chain Analysis
5.10.1 Overview
5.10.2 Research and Development
5.10.3 Inputs
5.10.4 Products and Services
5.10.5 Marketing and Distribution
5.10.6 End Users
5.10.7 Post Sales Services
5.11 Porters Five Forces Analysis
5.11.1 Overview
5.11.2 Bargaining Power of Buyers
5.11.3 Bargaining Power of Suppliers
5.11.4 Degree of Competition
5.11.5 Threat of New Entrants
5.11.6 Threat of Substitutes

6 Market Breakup by Product
6.1 Chatbots
6.2 IVA Smart Speakers

7 Market Breakup by Type
7.1 Rule Based
7.2 Conversational AI Based

8 Market Breakup by Technology
8.1 Text Based
8.2 Text-To-Speech
8.3 Automatic Speech Recognition (ASR)
8.4 Others

9 Market Breakup by Application
9.1 BFSI
9.2 Travel
9.3 Retail
9.4 Government
9.5 Education
9.6 Others

10 Market Breakup by Region
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 Middle East & Africa
10.5 Latin America

11 Competitive Landscape
11.1 Market Structure
11.2 Key Players
11.3 Profiles of Key Players
11.3.1 Microsoft
11.3.2 Nuance Communications
11.3.3 Samsung Electronics
11.3.4 Alphabet
11.3.5 Apple
11.3.6 Amazon
11.3.7 International Business Machines (IBM)
11.3.8 Baidu
11.3.9 Blackberry
11.3.10 Inbenta Technologies

For more information about this report visit https://www.researchandmarkets.com/r/n2hdhs

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