Intelligent Virtual Assistant Market Size, Status 2021 Emerging Growth, Industry Revenue, Sales Value, Future Prospect, and Regional Outlook 2030

In a recent published report, Kenneth Research has updated the market report for Intelligent Virtual Assistant Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Intelligent Virtual Assistant Market products.

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“Final Report will add the analysis of the impact of COVID-19 on this industry.”

Global Intelligent Virtual Assistant Market is estimated to reach $15,362 Million by 2025; growing at a CAGR of 33.9% from 2017 to 2025. Intelligent virtual assistant is a next generation software solution which enables the user interaction with PC, SMS, messenger, through internet, and other interfaces. This system uses numerous interaction procedures, that comprise speech-to-text, text-to-text, and speech-to-speech, amongst others to support users in performing their respective tasks. Putting it all together, an intelligent virtual assistant has knowledge and can also learn, is a digital entity, and helps someone accomplish a task. The advance of technologies related to general artificial intelligence (deep learning, neural networks and natural language processing) and conversational systems (interactive voice response and voice recognition) enable the development of agents that channel all network-based user interaction, responding to all needs, more smoothly than apps can. Social media is playing a major role in the advancement of the intelligent virtual assistant’s market.

The growth of the global intelligent virtual assistant market is mainly driven by the factors such as increasing adoption of chatbots and increasing smartphone penetration. Additionally, rising demand for self-reliance, rapid resolution of queries, and online self-service have also stimulated the market growth. However, system integration complexities, and lack of awareness in emerging countries are the restraints of the market growth. Moreover, multi-language help in intelligent virtual assistant (IVAs) to increase its market penetration, and inclusion of natural language processing in IVAs would generate profitable opportunities for the growth of the market.

The global intelligent virtual assistant market is classified on the basis of technology, vertical, and geography. Technology segment comprises speech recognition, and text-to-speech. By vertical segment, the market is classified into automotive, healthcare, BFSI retail/e-commerce, and other verticals.

Based on geography, global intelligent virtual assistant market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated into U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, Australia, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.

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The key market players include Microsoft Corporation, Nuance Communications, Inc., Samsung Electronics Co., Ltd., Alphabet Inc., Apple Inc.,, Inc., International Business Machines (IBM) Corporation, Baidu, Inc., TCL Communication, and Inbenta Technologies Inc., among others.

The key takeaways from the report
The report will provide detailed analysis of Global Intelligent Virtual Assistant Market with respect to major segments such as technology, vertical and geography

The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025

Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report

An exhaustive regional analysis of Global Intelligent Virtual Assistant Market has been included in the report

Profile of the key players in the Global Intelligent Virtual Assistant Market will be provided, which include key financials, product & services, new developments and business strategies

Scope of the Global Intelligent Virtual Assistant Market
Technology Segments

Speech Recognition
Vertical Segments

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Other VerticalsGeographical Segments
North America
Rest of Europe
South Korea
Rest of Asia-Pacific
South America
Middle East

Table of Contents
Chapter 1 Prefix
1.1 Market Scope
1.2 Report Description
1.3 Research Methodology
1.3.1 Primary Research
1.3.2 Secondary Research
1.3.3 In-house Data Modeling
Chapter 2 Executive Summary
2.1 Global Intelligent Virtual Assistant Market Year-on-Year Growth, 2017 – 2025 (%)
Chapter 3 Market Outline
3.1 Market Inclination, Trend, Outlook and Viewpoint
3.2 Market Share Analysis: Company’s Competitive Scenario
3.3 Market Dynamics
3.3.1 Drivers Impact Analysis
3.3.2 Restraints Impact Analysis
3.3.3 Opportunities

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