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Global Intelligent Virtual Assistant Market 2015-2019 - Market Study

  • Published: Nov 2015
  • Pages: 83
  • SKU: IRTNTR7300
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Market outlook of the global intelligent virtual assistant market

Intelligent virtual assistant (IVA) is a computer-generated character, like an avatar or a 3D animated persona, that delivers text-based or voice-based information to customers via a kiosk, mobile, or website. IVAs are rapidly gaining popularity over traditional customer contact centers as they are very popular among the young users. Consequently, Technavio’s market research analysts have estimated this market to post a profound market growth rate of over 54% during the forecast period. Factors like enhanced customer experience and its ability to function as a large knowledge repository are expected to account for this market’s impressive market growth rate during the next five years.

In this market research report, analysts estimate factors like the introduction of multichannel virtual assistant to drive market growth during the forecast period. The multichannel virtual assistant ensures enhanced customer support by delivering consistent customer experience across web and mobile platforms.

End-user segmentation of the intelligent virtual assistant market

  • Large enterprises
  • SMEs

The large enterprises segment is expected to hold the largest market share during the forecast period, accounting for more than 72% of the total market share by 2019. Factors such as the increasing desire of customers to access information quickly and the advent of IVAs with voice recognition feature are expected to account for this segment’s high market share.

Geographical segmentation of the intelligent virtual assistant market

  • APAC
  • EMEA
  • Americas

Technavio’s market research analyst has estimated the APAC region to show the highest market growth rate during the forecast period. Growth in the e-commerce industry, especially in regions like India and China, is expected to bolster the demand for IVAs in this region, resulting in its impressive market growth rate of close to 68% during the forecast period.

Competitive landscape and key vendors

This market for IVA is highly fragmented and contains numerous vendors due to the availability of multiple open source natural language processing engines. Since there is a lack of product differentiation in this market, the vendors who enter this market can easily establish themselves without intense competition from rival companies.

Leading vendors in this market are -

  • Anboto
  • CX Company
  • [24]7
  • Creative Virtual
  • Ecreation BV
  • eGain
  • GetAbby
  • H-care
  • Inbenta
  • Next IT
  • Nuance Communications
  • Synthetix
  • ViClone

Key questions answered in the report include

  • What will the market size and the growth rate be in 2019?
  • What are the key factors driving the global intelligent virtual assistant market?
  • What are the key market trends impacting the growth of the global intelligent virtual assistant market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global intelligent virtual assistant market?
  • What are the market opportunities and threats faced by the vendors in the global intelligent virtual assistant market?
  • Trending factors influencing the market shares of the EMEA, Americas, and APAC?
  • What are the key outcomes of the five forces analysis of the global intelligent virtual assistant market?

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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