This market study report segments the global intelligent virtual assistant market by end user (large enterprises and SMEs) and by geography (APAC, EMEA, and the Americas). Leading vendors analyzed in this market study are Anboto, CX Company, Creative Virtual, Ecreation BV, eGain, GetAbby, H-care, Inbenta, Next IT, Nuance Communications, Synthetix, and ViClone.
Technavio’s market research analysts estimate the global IVA market to generate revenue worth US $3 billion between 2015 and 2019. 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. Intelligent virtual assistant (IVAs) are rapidly gaining popularity over traditional customer contact centers as they are very popular among the young users. The Americas lead the global market for IVAs, occupying around 51% of the total market share. Various American enterprises are making huge investments in IVA solutions to enhance the customer experience and maintain their brand loyalty.
The new market research report from Technavio provides a breakdown and analysis of the intelligent virtual assistant segments by technology.
“Of late, various business enterprises are adopting multichannel VAs for delivering a uniform customer experience across all the service channels, including the company website or a social networking website. This will enable customers to hear the same voice and the same response whether it is typed into a computer, tapped on a screen, or spoken into a device. Also, the multichannel VA can take customers to any website while chatting to eliminate any doubts,” says Navin Rajendra, Lead Analyst, Hardware & Semiconductor, Technavio Research.
The large enterprises segment dominates the global market for IVAs, accounting for more than 72% of the total market share. 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.
The leading vendors in the global intelligent virtual assistant market include Anboto, CX Company, Creative Virtual, Ecreation, eGain, GetAbby, H-care, Inbenta, Next IT, Nuance, Synthetix and Viclone. This market 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.
A more detailed analysis is available in the Technavio report, Global Intelligent Virtual Assistant Market 2015-2019 – Market Study.
We can customize reports by other regions and specific segments upon request.
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- Global Intelligent Virtual Assistant Market 2014-2018
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