Houston, TX -- (SBWIRE) -- 07/24/2018 -- Intelligent Virtual Assistant (IVA) is a software assistant that uses artificial intelligence to model the human interaction to perform multiple tasks such as customer services. It helps consumers manage an array of tasks such as connected cars, and homes. In addition to this, the growing research and development activities and innovations in the market is predicted to enhance the level of competition in the next few years. The entry of new players is another key factor likely to accelerate the market growth throughout the forecast period.
The Global market for Intelligent Virtual Assistant is expected to rise at an attractive growth rate of + 35.7% CAGR in between the years 2018 and 2023
These assistants include Google Assistant, Apple Siri, Microsoft's Cortana, Amazon Echo, and others.
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As per the study, the worldwide market for Intelligent Virtual Assistant is expected to witness a phenomenal rise over the forthcoming years. The increasing need for cloud compliance and the growing acceptance of home-based work concept are likely to fuel the demand for cloud-based contact centers across the world in the near future. The faster deployment of these contact centers and the scalability and flexibility they offer are expected to add to their popularity over the next few years.
Conversely, the distresses over the risk of the damage of data and the extraordinary initial investment may hinder the growth of the Global Intelligent Virtual Assistant Market substantially in the years to come, notes the research study.
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In this study, the global market for Intelligent Virtual Assistant has been analyzed on the basis of the type of the product, application, and the geography. Based on the type of the product, the market has been classified into many different segmentations. Among these, Intelligent Virtual Assistant segment is likely to lead the overall market over the forthcoming years.
Some of the key data points covered in our report include:
- An overview of the Intelligent Virtual Assistant market, including background and evolution
- Macroeconomic factors affecting the Intelligent Virtual Assistant market and its potential
- Market dynamics, such as drivers, challenges, and trends
- Detailed value chain analysis of the Intelligent Virtual Assistant market
- The cost structure of the products and segments covered in the study
- In-depth pricing analysis, by key segments, regions and by major Intelligent Virtual Assistant market participants
- Analysis of Intelligent Virtual Assistant supply and demand, such as top producing and consuming geographies, imports/exports, and overall trade scenario
- Analysis of the Intelligent Virtual Assistant market structure, including a tier-wise categorization of key market participants
- Competitive landscape of the Intelligent Virtual Assistant market, including detailed profiles of the top players in this market
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