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Global Intelligent Virtual Assistant (IVA) Based Banking Market Size study, By Product (Chatbots, Smart Speakers), By User Interface (Text-to-Text, Text-to-Speech, Automatic Speech Recognition), and Regional Forecasts 2022-2028

August 2022 | 200 pages | ID: G1C442DDE54CEN
Bizwit Research & Consulting LLP

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Global Intelligent Virtual Assistant (IVA) Based Banking Market is valued approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028.

The Intelligent Virtual Assistant (IVA) Based Banking can be defined as an AI-enabled chat assistant that provides personalized responses by combining data analytics and cognitive computing based on individual customer profile, past banking relations, and location. In banking sector IVA assist customers in making payments, saving money, transferring funds, and checking account balances. The growing BFSI Sector worldwide and increasing automation in banking sector as well as Strategic initiatives from leading market players are factors that are accelerating the global market demand. For instance, according to Statista – as of 2022, the revenue of Worldwide Banking, Finance & Insurances is estimated at USD 3.72 trillion in 2022, and the revenue is projected to show an annual growth rate of 2.47% between 2022 & 2025 to reach to USD 4 trillion. Furthermore, leading market players are working towards strategic collaborations to leverage the growing adoption to IVA. For instance, in June 2021, US based Dover Federal Credit Union partnered with interface.ai to deploy an intelligent virtual assistant to enhance member experiences & operational efficiencies. Also, growing emergence of 5G technologies in emerging economies and rising growth of banking and activities. are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a high deployment cost coupled with rising threat of cybercrimes impede the growth of the market over the forecast period of 2022-2028.

The key regions considered for the global Intelligent Virtual Assistant (IVA) Based Banking Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the presence of required technological infrastructure and leading BFSI companies. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving penetration of banking services and rising number of private players in the region, would create lucrative growth prospects for the Intelligent Virtual Assistant (IVA) Based Banking Market across the Asia Pacific region.

Major market players included in this report are:
Alphabet Inc.
Amazon.com Inc.
Artificial Solutions
IBM
Nuance Communications Inc.
CSS Corp.
eGain Corporation
Oracle
True Image Interactive, Inc.
Verint Systems Inc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product
Chatbots
Smart Speakers
By User Interface
Text-to-Text
Text-to-Speech
Automatic Speech Recognition
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Intelligent Virtual Assistant (IVA) Based Banking Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

CHAPTER 1. EXECUTIVE SUMMARY

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Million)
  1.2.1. Global Intelligent Virtual Assistant (IVA) Based Banking Market, by Region, 2020-2028 (USD Million)
  1.2.2. Global Intelligent Virtual Assistant (IVA) Based Banking Market, by Product, 2020-2028 (USD Million)
  1.2.3. Global Intelligent Virtual Assistant (IVA) Based Banking Market, by User Interface, 2020-2028 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

CHAPTER 2. GLOBAL INTELLIGENT VIRTUAL ASSISTANT (IVA) BASED BANKING MARKET DEFINITION AND SCOPE

2.1. Objective of the Study
2.2. Market Definition & Scope
  2.2.1. Scope of the Study
  2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

CHAPTER 3. GLOBAL INTELLIGENT VIRTUAL ASSISTANT (IVA) BASED BANKING MARKET DYNAMICS

3.1. Intelligent Virtual Assistant (IVA) Based Banking Market Impact Analysis (2020-2028)
  3.1.1. Market Drivers
    3.1.1.1. Growing BFSI Sector worldwide.
    3.1.1.2. Increasing automation in banking sector.
    3.1.1.3. Strategic initiatives from leading market players.
  3.1.2. Market Challenges
    3.1.2.1. High deployment cost.
    3.1.2.2. Rising threat of cybercrimes.
  3.1.3. Market Opportunities
    3.1.3.1. Growing emergence of 5G technologies in emerging economies.
    3.1.3.2. Rising growth of banking and activities.

CHAPTER 4. GLOBAL INTELLIGENT VIRTUAL ASSISTANT (IVA) BASED BANKING MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
  4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2028)
4.2. PEST Analysis
  4.2.1. Political
  4.2.2. Economical
  4.2.3. Social
  4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies

CHAPTER 5. RISK ASSESSMENT: COVID-19 IMPACT

  5.1.1. Assessment of the overall impact of COVID-19 on the industry
  5.1.2. Pre COVID-19 and post COVID-19 Market scenario

CHAPTER 6. GLOBAL INTELLIGENT VIRTUAL ASSISTANT (IVA) BASED BANKING MARKET, BY PRODUCT

6.1. Market Snapshot
6.2. Global Intelligent Virtual Assistant (IVA) Based Banking Market by Product, Performance - Potential Analysis
6.3. Global Intelligent Virtual Assistant (IVA) Based Banking Market Estimates & Forecasts by Product 2018-2028 (USD Million)
6.4. Intelligent Virtual Assistant (IVA) Based Banking Market, Sub Segment Analysis
  6.4.1. Chatbots
  6.4.2. Smart Speakers

CHAPTER 7. GLOBAL INTELLIGENT VIRTUAL ASSISTANT (IVA) BASED BANKING MARKET, BY USER INTERFACE

7.1. Market Snapshot
7.2. Global Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, Performance - Potential Analysis
7.3. Global Intelligent Virtual Assistant (IVA) Based Banking Market Estimates & Forecasts by User Interface 2018-2028 (USD Million)
7.4. Intelligent Virtual Assistant (IVA) Based Banking Market, Sub Segment Analysis
  7.4.1. Text-to-Text
  7.4.2. Text-to-Speech
  7.4.3. Automatic Speech Recognition

CHAPTER 8. GLOBAL INTELLIGENT VIRTUAL ASSISTANT (IVA) BASED BANKING MARKET, REGIONAL ANALYSIS

8.1. Intelligent Virtual Assistant (IVA) Based Banking Market, Regional Market Snapshot
8.2. North America Intelligent Virtual Assistant (IVA) Based Banking Market
  8.2.1. U.S. Intelligent Virtual Assistant (IVA) Based Banking Market
    8.2.1.1. Product estimates & forecasts, 2018-2028
    8.2.1.2. User Interface estimates & forecasts, 2018-2028
  8.2.2. Canada Intelligent Virtual Assistant (IVA) Based Banking Market
8.3. Europe Intelligent Virtual Assistant (IVA) Based Banking Market Snapshot
  8.3.1. U.K. Intelligent Virtual Assistant (IVA) Based Banking Market
  8.3.2. Germany Intelligent Virtual Assistant (IVA) Based Banking Market
  8.3.3. France Intelligent Virtual Assistant (IVA) Based Banking Market
  8.3.4. Spain Intelligent Virtual Assistant (IVA) Based Banking Market
  8.3.5. Italy Intelligent Virtual Assistant (IVA) Based Banking Market
  8.3.6. Rest of Europe Intelligent Virtual Assistant (IVA) Based Banking Market
8.4. Asia-Pacific Intelligent Virtual Assistant (IVA) Based Banking Market Snapshot
  8.4.1. China Intelligent Virtual Assistant (IVA) Based Banking Market
  8.4.2. India Intelligent Virtual Assistant (IVA) Based Banking Market
  8.4.3. Japan Intelligent Virtual Assistant (IVA) Based Banking Market
  8.4.4. Australia Intelligent Virtual Assistant (IVA) Based Banking Market
  8.4.5. South Korea Intelligent Virtual Assistant (IVA) Based Banking Market
  8.4.6. Rest of Asia Pacific Intelligent Virtual Assistant (IVA) Based Banking Market
8.5. Latin America Intelligent Virtual Assistant (IVA) Based Banking Market Snapshot
  8.5.1. Brazil Intelligent Virtual Assistant (IVA) Based Banking Market
  8.5.2. Mexico Intelligent Virtual Assistant (IVA) Based Banking Market
8.6. Rest of The World Intelligent Virtual Assistant (IVA) Based Banking Market

CHAPTER 9. COMPETITIVE INTELLIGENCE

9.1. Top Market Strategies
9.2. Company Profiles
  9.2.1. Alphabet Inc.
    9.2.1.1. Key Information
    9.2.1.2. Overview
    9.2.1.3. Financial (Subject to Data Availability)
    9.2.1.4. Product Summary
    9.2.1.5. Recent Developments
  9.2.2. Amazon.com Inc.
  9.2.3. Artificial Solutions
  9.2.4. IBM
  9.2.5. Nuance Communications Inc.
  9.2.6. CSS Corp.
  9.2.7. eGain Corporation
  9.2.8. Oracle
  9.2.9. True Image Interactive, Inc.
  9.2.10. Verint Systems Inc.

CHAPTER 10. RESEARCH PROCESS

10.1. Research Process
  10.1.1. Data Mining
  10.1.2. Analysis
  10.1.3. Market Estimation
  10.1.4. Validation
  10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Intelligent Virtual Assistant (IVA) Based Banking Market, report scope
TABLE 2. Global Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by Region 2018-2028 (USD Million)
TABLE 3. Global Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by Product 2018-2028 (USD Million)
TABLE 4. Global Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by User Interface 2018-2028 (USD Million)
TABLE 5. Global Intelligent Virtual Assistant (IVA) Based Banking Market by segment, estimates & forecasts, 2018-2028 (USD Million)
TABLE 6. Global Intelligent Virtual Assistant (IVA) Based Banking Market by region, estimates & forecasts, 2018-2028 (USD Million)
TABLE 7. Global Intelligent Virtual Assistant (IVA) Based Banking Market by segment, estimates & forecasts, 2018-2028 (USD Million)
TABLE 8. Global Intelligent Virtual Assistant (IVA) Based Banking Market by region, estimates & forecasts, 2018-2028 (USD Million)
TABLE 9. Global Intelligent Virtual Assistant (IVA) Based Banking Market by segment, estimates & forecasts, 2018-2028 (USD Million)
TABLE 10. Global Intelligent Virtual Assistant (IVA) Based Banking Market by region, estimates & forecasts, 2018-2028 (USD Million)
TABLE 11. Global Intelligent Virtual Assistant (IVA) Based Banking Market by segment, estimates & forecasts, 2018-2028 (USD Million)
TABLE 12. Global Intelligent Virtual Assistant (IVA) Based Banking Market by region, estimates & forecasts, 2018-2028 (USD Million)
TABLE 13. Global Intelligent Virtual Assistant (IVA) Based Banking Market by segment, estimates & forecasts, 2018-2028 (USD Million)
TABLE 14. Global Intelligent Virtual Assistant (IVA) Based Banking Market by region, estimates & forecasts, 2018-2028 (USD Million)
TABLE 15. U.S. Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 16. U.S. Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 17. U.S. Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 18. Canada Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 19. Canada Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 20. Canada Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 21. UK Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 22. UK Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 23. UK Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 24. Germany Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 25. Germany Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 26. Germany Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 27. RoE Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 28. RoE Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 29. RoE Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 30. China Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 31. China Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 32. China Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 33. India Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 34. India Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 35. India Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 36. Japan Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 37. Japan Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 38. Japan Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 39. RoAPAC Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 40. RoAPAC Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 41. RoAPAC Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 42. Brazil Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 43. Brazil Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 44. Brazil Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 45. Mexico Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 46. Mexico Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 47. Mexico Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 48. RoLA Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 49. RoLA Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 50. RoLA Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 51. Row Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 52. Row Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 53. Row Intelligent Virtual Assistant (IVA) Based Banking Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 54. List of secondary sources, used in the study of global Intelligent Virtual Assistant (IVA) Based Banking Market
TABLE 55. List of primary sources, used in the study of global Intelligent Virtual Assistant (IVA) Based Banking Market
TABLE 56. Years considered for the study
TABLE 57. Exchange rates considered

LIST OF FIGURES

FIG 1. Global Intelligent Virtual Assistant (IVA) Based Banking Market, research methodology
FIG 2. Global Intelligent Virtual Assistant (IVA) Based Banking Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Intelligent Virtual Assistant (IVA) Based Banking Market, key trends 2021
FIG 5. Global Intelligent Virtual Assistant (IVA) Based Banking Market, growth prospects 2022-2028
FIG 6. Global Intelligent Virtual Assistant (IVA) Based Banking Market, porters 5 force model
FIG 7. Global Intelligent Virtual Assistant (IVA) Based Banking Market, pest analysis
FIG 8. Global Intelligent Virtual Assistant (IVA) Based Banking Market, value chain analysis
FIG 9. Global Intelligent Virtual Assistant (IVA) Based Banking Market by segment, 2018 & 2028 (USD Million)
FIG 10. Global Intelligent Virtual Assistant (IVA) Based Banking Market by segment, 2018 & 2028 (USD Million)
FIG 11. Global Intelligent Virtual Assistant (IVA) Based Banking Market by segment, 2018 & 2028 (USD Million)
FIG 12. Global Intelligent Virtual Assistant (IVA) Based Banking Market by segment, 2018 & 2028 (USD Million)
FIG 13. Global Intelligent Virtual Assistant (IVA) Based Banking Market by segment, 2018 & 2028 (USD Million)
FIG 14. Global Intelligent Virtual Assistant (IVA) Based Banking Market, regional snapshot 2018 & 2028
FIG 15. North America Intelligent Virtual Assistant (IVA) Based Banking Market 2018 & 2028 (USD Million)
FIG 16. Europe Intelligent Virtual Assistant (IVA) Based Banking Market 2018 & 2028 (USD Million)
FIG 17. Asia pacific Market 2018 & 2028 (USD Million)
FIG 18. Latin America Intelligent Virtual Assistant (IVA) Based Banking Market 2018 & 2028 (USD Million)
FIG 19. Global Intelligent Virtual Assistant (IVA) Based Banking Market, company Market share analysis (2021)













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