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The Global Intelligent Virtual Assistant (IVA) Market size is expected to reach $16.1 billion by 2023, rising at a market growth of 35.7% CAGR during the forecast period. IVA is software driven assistant which uses artificial intelligence to model the human interaction to perform multiple tasks. IVA helps in managing connected cars, and homes and some of the leading examples of IVA are Google Assistant, Apple Siri, Microsoft’s Cortana, and Amazon Echo. Growing trend of outsourcing, growing mobile workforce, increased focus on customer engagement are the factors that are driving the market for intelligent virtual assistants. Growing popularity of cloud applications, big data analytics and social media has changed the way businesses interact with customers. To add to the revenue and improve consumer satisfaction, organizations are revisiting consumer experience strategies. Digital Employee by Artificial Solutions is some strategies that are worked on for assisting the employees in achieving their sales targets. Other than adding to the enhancement of user experience, IVAs are meant to reduce customer service operational costs.
Based on Technology, the Intelligent Virtual Assistant (IVA) market segments the market into Text to Speech and Automatic Speech Recognition. Based on Vertical, the market report segments the market into BFSI, Retail & Ecommerce, Automotive, Healthcare, and Others. Based on Regions, the Intelligent Virtual Assistant (IVA) market segments the market into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa
The market research report covers the competition analysis of key stake holders of the Global Intelligent Virtual Assistant (IVA) Market. Key companies profiled in the report include Oracle Corporation, Nuance Communications, Inc., Microsoft Corporation, Inbenta Technologies, Samsung Electronics Co. Ltd., Apple, Inc., IBM Corporation, Intel Corporation, Google, Inc., and Amazon.com, Inc. (Amazon Web Services).