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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@ http://www.hexaresearch.com/research-report/intelligent-virtual-assistant-industry/
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.
Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/communication-services-industry
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industries across the globe. We offer comprehensive business intelligence in
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