Intelligent Virtual Assistants Solution Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Intelligent virtual assistants, also called as virtual agents and digital employees, enables clients or customers to engage in a conversational manner. The conservation with such intelligent virtual assistants are natural or human like. The intelligent virtual assistants are understand various intents from singular utterance and to responses which are not even programmed to using natural language processing.
MARKET DYNAMICS
The intelligent virtual assistant solution market is experiencing significant growth owing to the increasing importance for improving customer experience. However, lack of awareness is hampering the growth of market. Meanwhile, growing penetration of digitalization coupled increases deployment of AI and ML various verticals is projected to generate ample growth opportunities for Intelligent virtual assistant solution market players.
MARKET SCOPE
The "Intelligent Virtual Assistant Solution Market Analysis to 2031" is a specialized and in-depth study of the technology, media, and telecommunication with a special focus on the global market trend analysis. The report aims to provide an overview of Intelligent virtual assistant solution market with detailed market segmentation by type, end user, and geography. The global Intelligent virtual assistant solution market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Intelligent virtual assistant solution market players and offers key trends and opportunities in the Intelligent virtual assistant solution market.
MARKET SEGMENTATION
The global Intelligent virtual assistant solution market is segmented on the basis of type and end user. Based on type, the market is bifurcated into customer serivice, sales & marketing, and others. On the basis of end user, the market is BFSI, telecom, hospitality, retail, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Intelligent virtual assistant solution market based on various segments. It also provides market size and forecast estimates from year 2017 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Intelligent virtual assistant solution market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Intelligent virtual assistant solution market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the Intelligent virtual assistant solution market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Intelligent virtual assistant solution market based on various segments. It also provides market size and forecast estimates from year 2017 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Intelligent virtual assistant solution market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Intelligent virtual assistant solution market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the Intelligent virtual assistant solution market in these regions.
MARKET PLAYERS
The reports cover key developments in the Intelligent virtual assistant solution market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Intelligent virtual assistant solution market are anticipated to lucrative growth opportunities in the future with the rising demand for Intelligent virtual assistant solution market. Below mentioned is the list of few companies engaged in the Intelligent virtual assistant solution market.
The report also includes the profiles of key Intelligent virtual assistant solution market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Intelligent Virtual Assistants Solution Market - By Type
1.3.2 Intelligent Virtual Assistants Solution Market - By End User
1.3.3 Intelligent Virtual Assistants Solution Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. INTELLIGENT VIRTUAL ASSISTANTS SOLUTION MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. INTELLIGENT VIRTUAL ASSISTANTS SOLUTION MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. INTELLIGENT VIRTUAL ASSISTANTS SOLUTION MARKET - GLOBAL MARKET ANALYSIS
6.1. INTELLIGENT VIRTUAL ASSISTANTS SOLUTION - GLOBAL MARKET OVERVIEW
6.2. INTELLIGENT VIRTUAL ASSISTANTS SOLUTION - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. INTELLIGENT VIRTUAL ASSISTANTS SOLUTION MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. CUSTOMER SERIVICE
7.3.1. Overview
7.3.2. Customer Serivice Market Forecast and Analysis
7.4. SALES AND MARKETING
7.4.1. Overview
7.4.2. Sales and Marketing Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. INTELLIGENT VIRTUAL ASSISTANTS SOLUTION MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. BFSI
8.3.1. Overview
8.3.2. BFSI Market Forecast and Analysis
8.4. TELECOM
8.4.1. Overview
8.4.2. Telecom Market Forecast and Analysis
8.5. HOSPITALITY
8.5.1. Overview
8.5.2. Hospitality Market Forecast and Analysis
8.6. RETAIL
8.6.1. Overview
8.6.2. Retail Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. INTELLIGENT VIRTUAL ASSISTANTS SOLUTION MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Intelligent Virtual Assistants Solution Market Overview
9.1.2 North America Intelligent Virtual Assistants Solution Market Forecasts and Analysis
9.1.3 North America Intelligent Virtual Assistants Solution Market Forecasts and Analysis - By Type
9.1.4 North America Intelligent Virtual Assistants Solution Market Forecasts and Analysis - By End User
9.1.5 North America Intelligent Virtual Assistants Solution Market Forecasts and Analysis - By Countries
9.1.5.1 United States Intelligent Virtual Assistants Solution Market
9.1.5.1.1 United States Intelligent Virtual Assistants Solution Market by Type
9.1.5.1.2 United States Intelligent Virtual Assistants Solution Market by End User
9.1.5.2 Canada Intelligent Virtual Assistants Solution Market
9.1.5.2.1 Canada Intelligent Virtual Assistants Solution Market by Type
9.1.5.2.2 Canada Intelligent Virtual Assistants Solution Market by End User
9.1.5.3 Mexico Intelligent Virtual Assistants Solution Market
9.1.5.3.1 Mexico Intelligent Virtual Assistants Solution Market by Type
9.1.5.3.2 Mexico Intelligent Virtual Assistants Solution Market by End User
9.2. EUROPE
9.2.1 Europe Intelligent Virtual Assistants Solution Market Overview
9.2.2 Europe Intelligent Virtual Assistants Solution Market Forecasts and Analysis
9.2.3 Europe Intelligent Virtual Assistants Solution Market Forecasts and Analysis - By Type
9.2.4 Europe Intelligent Virtual Assistants Solution Market Forecasts and Analysis - By End User
9.2.5 Europe Intelligent Virtual Assistants Solution Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Intelligent Virtual Assistants Solution Market
9.2.5.1.1 Germany Intelligent Virtual Assistants Solution Market by Type
9.2.5.1.2 Germany Intelligent Virtual Assistants Solution Market by End User
9.2.5.2 France Intelligent Virtual Assistants Solution Market
9.2.5.2.1 France Intelligent Virtual Assistants Solution Market by Type
9.2.5.2.2 France Intelligent Virtual Assistants Solution Market by End User
9.2.5.3 Italy Intelligent Virtual Assistants Solution Market
9.2.5.3.1 Italy Intelligent Virtual Assistants Solution Market by Type
9.2.5.3.2 Italy Intelligent Virtual Assistants Solution Market by End User
9.2.5.4 United Kingdom Intelligent Virtual Assistants Solution Market
9.2.5.4.1 United Kingdom Intelligent Virtual Assistants Solution Market by Type
9.2.5.4.2 United Kingdom Intelligent Virtual Assistants Solution Market by End User
9.2.5.5 Russia Intelligent Virtual Assistants Solution Market
9.2.5.5.1 Russia Intelligent Virtual Assistants Solution Market by Type
9.2.5.5.2 Russia Intelligent Virtual Assistants Solution Market by End User
9.2.5.6 Rest of Europe Intelligent Virtual Assistants Solution Market
9.2.5.6.1 Rest of Europe Intelligent Virtual Assistants Solution Market by Type
9.2.5.6.2 Rest of Europe Intelligent Virtual Assistants Solution Market by End User
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Intelligent Virtual Assistants Solution Market Overview
9.3.2 Asia-Pacific Intelligent Virtual Assistants Solution Market Forecasts and Analysis
9.3.3 Asia-Pacific Intelligent Virtual Assistants Solution Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Intelligent Virtual Assistants Solution Market Forecasts and Analysis - By End User
9.3.5 Asia-Pacific Intelligent Virtual Assistants Solution Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Intelligent Virtual Assistants Solution Market
9.3.5.1.1 Australia Intelligent Virtual Assistants Solution Market by Type
9.3.5.1.2 Australia Intelligent Virtual Assistants Solution Market by End User
9.3.5.2 China Intelligent Virtual Assistants Solution Market
9.3.5.2.1 China Intelligent Virtual Assistants Solution Market by Type
9.3.5.2.2 China Intelligent Virtual Assistants Solution Market by End User
9.3.5.3 India Intelligent Virtual Assistants Solution Market
9.3.5.3.1 India Intelligent Virtual Assistants Solution Market by Type
9.3.5.3.2 India Intelligent Virtual Assistants Solution Market by End User
9.3.5.4 Japan Intelligent Virtual Assistants Solution Market
9.3.5.4.1 Japan Intelligent Virtual Assistants Solution Market by Type
9.3.5.4.2 Japan Intelligent Virtual Assistants Solution Market by End User
9.3.5.5 South Korea Intelligent Virtual Assistants Solution Market
9.3.5.5.1 South Korea Intelligent Virtual Assistants Solution Market by Type
9.3.5.5.2 South Korea Intelligent Virtual Assistants Solution Market by End User
9.3.5.6 Rest of Asia-Pacific Intelligent Virtual Assistants Solution Market
9.3.5.6.1 Rest of Asia-Pacific Intelligent Virtual Assistants Solution Market by Type
9.3.5.6.2 Rest of Asia-Pacific Intelligent Virtual Assistants Solution Market by End User
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Intelligent Virtual Assistants Solution Market Overview
9.4.2 Middle East and Africa Intelligent Virtual Assistants Solution Market Forecasts and Analysis
9.4.3 Middle East and Africa Intelligent Virtual Assistants Solution Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Intelligent Virtual Assistants Solution Market Forecasts and Analysis - By End User
9.4.5 Middle East and Africa Intelligent Virtual Assistants Solution Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Intelligent Virtual Assistants Solution Market
9.4.5.1.1 South Africa Intelligent Virtual Assistants Solution Market by Type
9.4.5.1.2 South Africa Intelligent Virtual Assistants Solution Market by End User
9.4.5.2 Saudi Arabia Intelligent Virtual Assistants Solution Market
9.4.5.2.1 Saudi Arabia Intelligent Virtual Assistants Solution Market by Type
9.4.5.2.2 Saudi Arabia Intelligent Virtual Assistants Solution Market by End User
9.4.5.3 U.A.E Intelligent Virtual Assistants Solution Market
9.4.5.3.1 U.A.E Intelligent Virtual Assistants Solution Market by Type
9.4.5.3.2 U.A.E Intelligent Virtual Assistants Solution Market by End User
9.4.5.4 Rest of Middle East and Africa Intelligent Virtual Assistants Solution Market
9.4.5.4.1 Rest of Middle East and Africa Intelligent Virtual Assistants Solution Market by Type
9.4.5.4.2 Rest of Middle East and Africa Intelligent Virtual Assistants Solution Market by End User
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Intelligent Virtual Assistants Solution Market Overview
9.5.2 South and Central America Intelligent Virtual Assistants Solution Market Forecasts and Analysis
9.5.3 South and Central America Intelligent Virtual Assistants Solution Market Forecasts and Analysis - By Type
9.5.4 South and Central America Intelligent Virtual Assistants Solution Market Forecasts and Analysis - By End User
9.5.5 South and Central America Intelligent Virtual Assistants Solution Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Intelligent Virtual Assistants Solution Market
9.5.5.1.1 Brazil Intelligent Virtual Assistants Solution Market by Type
9.5.5.1.2 Brazil Intelligent Virtual Assistants Solution Market by End User
9.5.5.2 Argentina Intelligent Virtual Assistants Solution Market
9.5.5.2.1 Argentina Intelligent Virtual Assistants Solution Market by Type
9.5.5.2.2 Argentina Intelligent Virtual Assistants Solution Market by End User
9.5.5.3 Rest of South and Central America Intelligent Virtual Assistants Solution Market
9.5.5.3.1 Rest of South and Central America Intelligent Virtual Assistants Solution Market by Type
9.5.5.3.2 Rest of South and Central America Intelligent Virtual Assistants Solution Market by End User
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. INTELLIGENT VIRTUAL ASSISTANTS SOLUTION MARKET, KEY COMPANY PROFILES
11.1. ULTIMATE.AI
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. E-BOT7
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. CONVERSICA, INC.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. EXCEED.AI
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. MINDSAY
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. MICROSOFT CORPORATION
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. TECHFORCE.AI
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. INTERNATIONAL BUSINESS MACHINES CORPORATION
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. KORE.AI
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. NUANCE COMMUNICATIONS, INC.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Ultimate.ai
2. e-bot7
3. Conversica, Inc.
4. exceed.ai
5. Mindsay
6. Microsoft Corporation
7. Techforce.ai
8. International Business Machines Corporation
9. kore.ai
10. Nuance Communications, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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