An intelligent virtual assistant is referred to as an engineered entity residing in the software which interfaces with humans in an exactly human way. This kind of technology incorporates the elements of an interactive voice response and also other projects of modern artificial intelligence to deliver the full-fledged “virtual identities” which converse with users. Some of the very famous intelligent virtual assistants available are Microsoft’s Cortana and Apple’s Siri, which are been delivered with these operating systems companies’ and mobile platforms. The main purpose for an intelligent virtual assistant is to answer the questions that users basically have. This is to be done in a business environment, for example, with a chat interface or on the business websiteThis growth is primarily driven by Demand for Automation in Customer Service and Integration of Speaker-Based Virtual Assistants and Smart Home Appliances is Driving the Market of Smart Speakers.
Globally, a noticeable market trend is evident Increasing Adoption of Chatbots Because of the Availability of Low-Cost Software Modules for Chatbot Design. Major Players, such as Alphabet (United States), Amazon (United States), Apple (United States), Nuance Communications (United States), IBM (United States), Microsoft (United States), Samsung Electronics (South Korea), Inbenta Technologies (United States), Baidu (China) and Blackberry (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
Microsoft signed an agreement to acquire Xoxco, a software product design and development studio known for its conversational AI and bot development capabilities,” Lili Cheng, corporate VP for conversational AI at Microsoft wrote in a blog post announcing the acquisition
Alphabet Inc. is leaving on stone unturned to strengthen its position in the virtual assistant space. The company recently announced a number of upgrades for Google Assistant on smartphones at Consumer Electronics Show (CES) 2019. The latest upgrades will enable users to check into flights using voice commands, navigate using Google maps and use Assistant from the lock screen among others
- Demand for Automation in Customer Service
- Integration of Speaker-Based Virtual Assistants and Smart Home Appliances is Driving the Market of Smart Speakers
- Increasing Adoption of Chatbots Because of the Availability of Low-Cost Software Modules for Chatbot Design
- Lack of Accuracy in Chatbot
- System Integration Complexities Add to the Cost of Smart Speakers
Gesture Recognition Technology Will Add Value to IVA and Multi-Language Support in IVAs Will Increase Its Market Penetration
Lack of Awareness in Developing Countries and Limited Market Reach of IVA Smart Speakers in Developing Countries
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Intelligent Virtual Assistant Study Sheds Light on
The Intelligent Virtual Assistant Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Intelligent Virtual Assistant industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Intelligent Virtual Assistant industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.