Intelligent Virtual Assistant Market Analysis And Segment Forecasts 2012 To 2020

The global intelligent virtual assistant market is projected to exceed USD 3 billion by 2020. Increased focus on effective client communication, made easy by virtual assistants, is expected to drive the intelligent virtual assistant market over the forecast period.

North America Intelligent Virtual assistant functions artificial intelligence for providing automated assistance to user, it could also be in a form of 2D static character images or fully animated avatar. Digital humanlike avatar are customizable, many players in this industry offers services to change its appearance according to the user’s preference. According to the Research study by Hexa Research, The intelligent virtual assistant market is likely to reach around USD 3,070 million by 2020.
Growing focus of resourceful consumer interaction facilitated by virtual assistants is likely to drive the market in upcoming years. Two major types of technologies used are Speech recognition technology and text to speech technology .Speech recognition provides feature for intuitive and interactive communication, is known as one of the most popular technology.
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In 2012, Major driving market for Intelligent Virtual Assistant was dominant consumers which contributed for around 80% of the global market. Markets forecast for small and medium companies are expected to be positive, with adoption rates that are expected to increase considerably in next few years. The market of Intelligent Virtual Assistant market is likely to grow at CAGR around 30% till 2020.Big companies are anticipated to continue for majority market share, driven by increasing focus on customer satisfaction. For ensuring the user engagement and offering real –time, for revenue generation, personalized support is crucial.
In 2012, North America contributed for over 40% of the market globally, is likely to remain the major segment in next few years. Emerging economies are likely to witness high demand; Asia Pacific is expected to grow rapidly over the forecast period. Major Industry participants serve industries like Telecommunication, Travel, finance, retail, insurance and utilities. Efficient natural language processing capability and Robust back end knowledge base are quite important for gaining competitive benefits. Key Firms operating in the industry are Nuance communications, Next IT Corporation, Anboto Group, and Creative Virtual Ltd.
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Contact Details

Company Name: Hexa Research
Issued By: Ryan Shaw
Phone: 8004893075
Address: Felton Office Plaza 6265 Highway 9
City: Felton
State: CA
Zip: 95018
Country: United States
Website: Visit the website

Keywords : intelligent virtual assistant market, intelligent virtual assistant market size, intelligent virtual assistant market share, intelligent virtual assistant market analysis, intelligent virtual assistant market growth, intelligent virtual assistant market trends, intelligent virtual assistant market forecasts,

by Ryan Shaw (few years ago!)

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