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Intelligent Virtual Assistant Market by Technology (Speech Recognition, Text-to-speech), by Industry Verticals (Automotive, Cement, Healthcare, BFSI, Retail/e-commerce), Industry trends, Estimation & Forecast, 2016 - 2024

August 2017 | 135 pages | ID: I5ACD13F92BEN
Esticast Research & Consulting

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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 DYNAMICS

Cost effective solutions for organizational problems is one prime driver boosting the global intelligent virtual assistant market. Customer experience plays an important role in the growth of the business, integration of IVA with business functions helps to improve customer experience and ultimately boosts the business growth and fuel the global IVM market. Reduced manpower owing to an intelligent assortment of huge organizational data is also a market driver for global IVA market. For instance, Sarah, a virtual assistant by MyCyberTwin achieved 94% accuracy rate and has managed to drive sales for many companies. However, lack of availability of skilled resources is restraining the market for further growth. The evolving demand for websites and mobile applications will be the prime opportunity within global IVA market 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.

Intelligent Virtual Assistance market segmentation

By Technology
  • Speech Recognition
  • Text-to-speech
By Industry Verticals
  • Automotive
  • Healthcare
  • BFSI
  • Retail/e-commerce
  • Others
By Geography
  • North America
  • Europe
  • APAC
  • ROW
KEY MARKET PLAYERS
      • Anboto Group
  • Artificial Solutions Ltd.
  • CodeBaby Corporation
  • Creative Virtual Ltd
  • CX Company
  • eGain Corporation
  • IntelliResponse Systems Inc.
  • Next IT Corporation
  • Nuance Communications Inc.
  • Speaktoit LLC
CHAPTER 1. INTRODUCTION

1.1. RESEARCH METHODOLOGY
  1.1.1. ERC desk research
  1.1.2. ERC data synthesis
  1.1.3. Data validation and market feedback
  1.1.4. ERC data sources
1.2. RESEARCH SCOPE

CHAPTER 2. MARKET OVERVIEW

2.1. RESEARCH SUMMARY
2.2. VALUE CHAIN ANALYSIS
2.3. FIVE FORCES ANALYSIS
2.4. MARKET PLAYER POSITIONING
2.5. DEMAND FORECAST
2.6. BUSINESS INTELLIGENCE & STRATEGIC ANALYSIS
2.7. MARKET DETERMINANTS
  2.7.1. DRIVERS
    2.7.1.1. Cost effective solutions
    2.7.1.2. Improved customer experience
    2.7.1.3. Massive amounts of organization data
  2.7.2. RESTRAINTS
    2.7.2.1. Lack of skilled resources
  2.7.3. OPPORTUNITIES
    2.7.3.1. Rising demand for websites and mobile applications.

CHAPTER 3. GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET BY TECHNOLOGY,2016-2024

3.1. SEGMENT OUTLINE
3.2. GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY TECHNOLOGY,2016-2024
3.3. SPEECH RECOGNITION
  3.3.1. Trend analysis
  3.3.2. Market growth analysis
  3.3.3. Global speech recognition market revenue by region,2016-2024
3.4. TEXT-TO-SPEECH
  3.4.1. Trend analysis
  3.4.2. Market growth analysis
  3.4.3. Global text-to-speech market revenue by region,2016-2024

CHAPTER 4. GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET BY VERTICAL,2016-2024

4.1. SEGMENT OUTLINE
4.2. GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY VERTICAL,2016-2024
4.3. AUTOMOTIVE
  4.3.1. Trend analysis
  4.3.2. Market growth analysis
  4.3.3. Global automotive market revenue by region,2016-2024
4.4. HEALTHCARE
  4.4.1. Trend analysis
  4.4.2. Market growth analysis
  4.4.3. Global healthcare market revenue by region,2016-2024
4.5. BFSI
  4.5.1. Trend analysis
  4.5.2. Market growth analysis
  4.5.3. Global bfsi market revenue by region,2016-2024
4.6. RETAIL (E-COMMERCE)
  4.6.1. Trend analysis
  4.6.2. Market growth analysis
  4.6.3. Global retail (e-commerce) market revenue by region,2016-2024
4.7. OTHERS
  4.7.1. Trend analysis
  4.7.2. Market growth analysis
  4.7.3. Global others intelligent virtual assistant market revenue,2016-2024

CHAPTER 5. GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY GEOGRAPHY, 2016-2024

5.1. SEGMENT OUTLINE
5.2. GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY GEOGRAPHY,2016-2024
5.3. NORTH AMERICA
  5.3.1. Trend analysis
  5.3.2. Market growth analysis
  5.3.3. North America intelligent virtual assistant market revenue by technology,2016-2024
  5.3.4. North America intelligent virtual assistant market revenue by vertical,2016-2024($million)
5.4. EUROPE
  5.4.1. Trend analysis
  5.4.2. Market growth analysis
  5.4.3. Europe intelligent virtual assistant market revenue by technology,2016-2024
  5.4.4. Europe intelligent virtual assistant market revenue by vertical,2016-2024
5.5. ASIA-PACIFIC
  5.5.1. Trend analysis
  5.5.2. Market growth analysis
  5.5.3. Asia-Pacific intelligent virtual assistant market revenue by technology,2016-2024
  5.5.4. Asia-Pacific intelligent virtual assistant market revenue by vertical,2016-2024
5.6. LATIN AMERICA MIDDLE EAST AND AFRICA (LAMEA)
  5.6.1. Trend analysis
  5.6.2. Market growth analysis
  5.6.3. Lamea intelligent virtual assistant market revenue by technology,2016-2024

CHAPTER 6. COMPANY PROFILES

6.1. SPEAKTOIT INC
  6.1.1. Company overview
  6.1.2. Company snapshot
  6.1.3. Business overview
  6.1.4. Strategic attempts
6.2. CODEBABYCORPORATION
  6.2.1. Company overview
  6.2.2. Company snapshot
  6.2.3. Business overview
  6.2.4. Strategic attempts
6.3. ARTIFICIAL SOLUTIONS LTSD.
  6.3.1. Company overview
  6.3.2. Company snapshot
  6.3.3. Business overview
  6.3.4. Strategic attempts
6.4. ANBOTO GROUP
  6.4.1. Company overview
  6.4.2. Company snapshot
  6.4.3. Business overview
  6.4.4. Strategic attempts
6.5. INTELLIRESPONSE SYSTEM INC.
  6.5.1. Company overview
  6.5.2. Company snapshot
  6.5.3. Business overview
  6.5.4. Strategic attempts
6.6. NEXT IT CORPORATION
  6.6.1. Company overview
  6.6.2. Company snapshot
  6.6.3. Business overview
  6.6.4. Strategic attempts
6.7. CREATIVE VIRTUAL LTD.
  6.7.1. Company overview
  6.7.2. Company snapshot
  6.7.3. Business overview
  6.7.4. Strategic attempts
6.8. CX COMPANY
  6.8.1. Company overview
  6.8.2. Company snapshot
  6.8.3. Business overview
  6.8.4. Strategic attempts
6.9. NUANCE COMMUNICATIONS INC
  6.9.1. Company overview
  6.9.2. Company snapshot
  6.9.3. Business overview
  6.9.4. Strategic attempts
6.10. EGAIN CORPORATION
  6.10.1. Company overview
  6.10.2. Company snapshot
  6.10.3. Business overview
  6.10.4. Strategic attempts

LIST OF TABLES

TABLE NO 1. GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY TECHNOLOGY,2016-2024($MILLION)
TABLE NO 2. GLOBAL SPEECH RECOGNITION MARKET REVENUE BY REGION,2016-2024($MILLION)
TABLE NO 3. GLOBAL TEXT-TO-SPEECH MARKET REVENUE BY REGION,2016-2024($MILLION)
TABLE NO 4. GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY VERTICAL,2016-2024($MILLION)
TABLE NO 5. GLOBAL AUTOMOTIVE MARKET REVENUE BY REGION,2016-2024($MILLION)
TABLE NO 6. GLOBAL HEALTHCARE MARKET REVENUE BY REGION,2016-2024($MILLION)
TABLE NO 7. GLOBAL BFSI MARKET REVENUE BY REGION,2016-2024($MILLION)
TABLE NO 8. GLOBAL RETAIL (E-COMMERCE) MARKET REVENUE BY REGION,2016-2024($MILLION)
TABLE NO 9. GLOBAL OTHERS INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE,2016-2024($MILLION)
TABLE NO 10. GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY GEOGRAPHY,2016-2024($MILLION)
TABLE NO 11. NORTH AMERICA INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY TECHNOLOGY,2016-2024($MILLION)
TABLE NO 12. NORTH AMERICA INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY VERTICAL,2016-2024($MILLION)
TABLE NO 13. EUROPE INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY TECHNOLOGY,2016-2024($MILLION)
TABLE NO 14. EUROPE INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY VERTICAL,2016-2024($MILLION)
TABLE NO 15. ASIA-PACIFIC INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY TECHNOLOGY,2016-2024($MILLION)
TABLE NO 16 ASIA-PACIFIC INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY VERTICAL,2016-2024($MILLION)
TABLE NO 17. LAMEA INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY TECHNOLOGY,2016-2024($MILLION)

LIST OF FIGURES

FIGURE NO 1. VALUE CHAIN ANALYSIS
FIGURE NO 2. PORTER’S FIVE FORCES ANALYSIS
FIGURE NO 3. MARKET SHARE ANALYSIS
FIGURE NO 4. INVESTMENT OPPORTUNITIES
FIGURE NO 5. KEY STRATEGIC ATTEMPTS (%SHARE)
FIGURE NO 6. KEY IMPACTING FACTORS
FIGURE NO 7. GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY TECHNOLOGY,2016-2024($MILLION)
FIGURE NO 8. GLOBAL SPEECH RECOGNITION MARKET REVENUE BY REGION,2016-2024($MILLION)
FIGURE NO 9. GLOBAL TEXT-TO-SPEECH MARKET REVENUE BY REGION,2016-2024($MILLION)
FIGURE NO 10. GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY VERTICAL,2016-2024($MILLION)
FIGURE NO 11. GLOBAL AUTOMOTIVE MARKET REVENUE BY REGION,2016-2024($MILLION)
FIGURE NO 12. GLOBAL HEALTHCARE MARKET REVENUE BY REGION,2016-2024($MILLION)
FIGURE NO 13. GLOBAL BFSI MARKET REVENUE BY REGION,2016-2024($MILLION)
FIGURE NO 14. GLOBAL RETAIL (E-COMMERCE) MARKET REVENUE BY REGION,2016-2024($MILLION)
FIGURE NO 15. GLOBAL OTHERS INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE,2016-2024($MILLION)
FIGURE NO 16. GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY GEOGRAPHY,2016-2024($MILLION)
FIGURE NO 17. NORTH AMERICA INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY TECHNOLOGY,2016-2024($MILLION)
FIGURE NO 18. NORTH AMERICA INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY VERTICAL,2016-2024($MILLION)
FIGURE NO 19. EUROPE INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY TECHNOLOGY,2016-2024($MILLION)
FIGURE NO 20. EUROPE INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY VERTICAL,2016-2024($MILLION)
FIGURE NO 21. ASIA-PACICFIC INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY TECHNOLOGY,2016-2024($MILLION)
FIGURE NO 22. ASIA-PACICFIC INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY VERTICAL,2016-2024($MILLION)
FIGURE NO 23. LAMEA INTELLIGENT VIRTUAL ASSISTANT MARKET REVENUE BY TECHNOLOGY,2016-2024($MILLION)


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