Press Release
Global Intelligent Virtual Assistant Market is Estimated to Reach $15,362 Million by 2025, Says Variant Market Research
 Published Date:  Mar 2018  Publish By: Variant Market Research

Global Intelligent Virtual Assistant Market Report, published by Variant Market Research, forecast that the global market is expected to reach $15,362 million by 2025 from $1,485 million in 2017, growing at a CAGR of 33.9% from 2017 to 2025. By Geography, Asia-Pacific and Rest of the World are expected to grow at a CAGR of 36.4% and 35.4%, respectively, during the forecast period. An intelligent virtual assistant is an artificial intelligence system that emulates human interaction to perform particular task, like customer service. Improved customer experience, and cost effectiveness are the major intelligent virtual assistant market trends.

"Intelligent Virtual Assistant Market (By Technology: Speech Recognition, and Text-To-Speech; By Vertical: Automotive, Healthcare, BFSI Retail/E-Commerce, and Other Verticals; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025"

To browse the complete report, visit at https://www.variantmarketresearch.com/report-categories/information-communication-technology/intelligent-virtual-assistant-market

The global intelligent virtual assistant market is mainly driven by increasing adoption of chatbots

Increasing adoption of chatbots, rising demand for self-reliance, rapid resolution of queries, and online self-service, and rising smartphone penetration are the major factors driving the growth of the global intelligent virtual assistant market. However, lack of awareness in developing countries, and system integration complexities are some of the major glitches to deal with respect to market growth. Moreover, multi-language help in intelligent virtual agents (IVAs) to increase its market penetration is expected to open up new growth opportunities over the years to come.

Market Segmentation

Technology, verticals, and geography are the segments considered in the global intelligent virtual assistant market. On the basis of technology, the segmentation includes speech recognition, and text-to-speech. Furthermore, vertical segment is bifurcated into automotive, healthcare, BFSI retail/e-commerce and other verticals. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World.

The country wise analysis has been also covered under the scope of the report. North America covers the U.S., Canada, and Mexico. Germany, France, UK, and Rest of Europe are analyzed under the European market. India, China, Japan, Australia, and Rest of Asia-Pacific are included under the Asia-Pacific market. While RoW is bifurcated into South America, Middle East, and Africa.

Speech recognition, by technology segment led the market with major share in 2017

 Global Intelligent Virtual Assistant Market, by Technology (Value %)

Speech recognition accounted for majority of the market share in the technology segment in the year 2017 and is expected to continue its trend during the forecast period 2017 – 2025. The high growth of speech recognition is attributed to its growing demand for smart speakers in home automation systems.

BFSI held for the leading market share in the verticals segment

 Global Intelligent Virtual Assistant Market, by Verticals (Value %)

BFSI contributed for the highest market share in 2017, in the verticals segment, owing to its demand in automated customer support services. Moreover, automotive sector is expected to achieve the fastest CAGR over the forecast period.

North America occupied the principal share in the global intelligent virtual assistant market

 GLOBAL INTELIGENT VIRTUAL ASSISTANT MARKET SHARE BY GEOGRAPHY, 2017 (%)

In the year 2017, North America generated the highest revenue accounting for 39.1% of the total market share, owing to the awareness and the availability of smart speakers in North America. In terms of growth, Asia-Pacific is anticipated to attain the fastest CAGR throughout the forecast period between 2017 to 2025.

Competitive Landscape

Major players operating in the market include Amazon.com, Inc., Alphabet Inc., Microsoft Corporation, Nuance Communications, Inc., Apple Inc., Samsung Electronics Co., Ltd., International Business Machines (IBM), Baidu, Inc., TCL Communication, and Inbenta Technologies Inc., among others.

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Chapter 1 Prefix
    1.1 Market Scope
    1.2 Report Description
    1.3 Research Methodology
          1.3.1 Primary Research
          1.3.2 Secondary Research
          1.3.3 In-house Data Modeling
Chapter 2 Executive Summary
    2.1 Global Intelligent Virtual Assistant Market Year-on-Year Growth, 2017 – 2025 (%)
Chapter 3 Market Outline
    3.1 Market Inclination, Trend, Outlook and Viewpoint
    3.2 Market Share Analysis: Company’s Competitive Scenario
    3.3 Market Dynamics
          3.3.1 Drivers
                   3.3.1.1 Impact Analysis
          3.3.2 Restraints
                   3.3.2.1 Impact Analysis
          3.3.3 Opportunities
Chapter 4 Global Intelligent Virtual Assistant Market by Technology: Market Size and Forecast, 2016 – 2025
    4.1 Overview
    4.2 Speech Recognition
          4.2.1 Current Trend and Analysis
          4.2.2 Market Size and Forecast, 2016 – 2025 ($ Million)
          4.2.3 Market Size and Forecast by Region, 2016 – 2025 ($ Million)
    4.3 Text-To-speech
          4.3.1 Current Trend and Analysis
          4.3.2 Market Size and Forecast, 2016 – 2025 ($ Million)
          4.3.3 Market Size and Forecast by Region, 2016 – 2025 ($ Million)
Chapter 5 Global Intelligent Virtual Assistant Market by Verticals: Market Size and Forecast, 2016 – 2025
    5.1 Overview
    5.2 Automotive
          5.2.1 Current Trend and Analysis
          5.2.2 Market Size and Forecast, 2016 – 2025 ($ Million)
          5.2.3 Market Size and Forecast by Region, 2016 – 2025 ($ Million)
    5.3 Healthcare
          5.3.1 Current Trend and Analysis
          5.3.2 Market Size and Forecast, 2016 – 2025 ($ Million)
          5.3.3 Market Size and Forecast by Region, 2016 – 2025 ($ Million)
    5.4 BFSI
          5.4.1 Current Trend and Analysis
          5.4.2 Market Size and Forecast, 2016 – 2025 ($ Million)
          5.4.3 Market Size and Forecast by Region, 2016 – 2025 ($ Million)
    5.5 Retail/E-Commerce
          5.5.1 Current Trend and Analysis
          5.5.2 Market Size and Forecast, 2016 – 2025 ($ Million)
          5.5.3 Market Size and Forecast by Region, 2016 – 2025 ($ Million)
    5.6 Other Verticals
          5.6.1 Current Trend and Analysis
          5.6.2 Market Size and Forecast, 2016 – 2025 ($ Million)
          5.6.3 Market Size and Forecast by Region, 2016 – 2025 ($ Million)
Chapter 6 Global Intelligent Virtual Assistant Market by Geography: Market Size and Forecast, 2016 – 2025
    6.1 Overview
          6.1.1 Global Intelligent Virtual Assistant Market Year-on-Year Growth, by regions 2017 – 2025 (%)
    6.2 North America
          6.2.1 Current Trend and Analysis
          6.2.2 Market Size and Forecast, 2016 – 2025 ($ Million)
          6.2.3 US
                   6.2.3.1 Market Size and Forecast, 2016 – 2025 ($ Million)
          6.2.4 Canada
                   6.2.4.1 Market Size and Forecast, 2016 – 2025 ($ Million)
          6.2.5 Mexico
                   6.2.5.1 Market Size and Forecast, 2016 – 2025 ($ Million)
    6.3 Europe
          6.3.1 Current Trend and Analysis
          6.3.2 Market Size and Forecast, 2016 – 2025 ($ Million)
          6.3.3 UK
                   6.3.3.1 Market Size and Forecast, 2016 – 2025 ($ Million)
          6.3.4 Germany
                   6.3.4.1 Market Size and Forecast, 2016 – 2025 ($ Million)
          6.3.5 France
                   6.3.5.1 Market Size and Forecast, 2016 – 2025 ($ Million)
          6.3.6 Rest of Europe
                   6.3.6.1 Market Size and Forecast, 2016 – 2025 ($ Million)
    6.4 Asia-Pacific
          6.4.1 Current Trend and Analysis
          6.4.2 Market Size and Forecast, 2016 – 2025 ($ Million)
          6.4.3 India
                   6.4.3.1 Market Size and Forecast, 2016 – 2025 ($ Million)
          6.4.4 China
                   6.4.4.1 Market Size and Forecast, 2016 – 2025 ($ Million)
          6.4.5 Japan
                   6.4.5.1 Market Size and Forecast, 2016 – 2025 ($ Million)
          6.4.6 Australia
                   6.4.6.1 Market Size and Forecast, 2016 – 2025 ($ Million)
          6.4.7 Rest of Asia-Pacific
                   6.4.7.1 Market Size and Forecast, 2016 – 2025 ($ Million)
    6.5 RoW
          6.5.1 Current Trend and Analysis
          6.5.2 Market Size and Forecast
          6.5.3 Middle East
                   6.5.3.1 Market Size and Forecast, 2016 – 2025 ($ Million)
          6.5.4 South America
                   6.5.4.1 Market Size and Forecast, 2016 – 2025 ($ Million)
          6.5.5 Africa
                   6.5.5.1 Market Size and Forecast, 2016 – 2025 ($ Million)
Chapter 7 Company Profiles
    7.1 Microsoft Corporation
    7.2 Nuance Communications, Inc.
    7.3 Samsung Electronics Co., Ltd.
    7.4 Alphabet Inc.
    7.5 Apple Inc.
    7.6 Amazon.com, Inc.
    7.7 International Business Machines (IBM) Corporation
    7.8 Baidu, Inc.
    7.9 TCL Communication
    7.10 Inbenta Verticals Inc.
List of Figures
FIG.1 MARKET SEGMENTATION: GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET
FIG.2 GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET YEAR ON YEAR GROWTH, 2017 - 2025 (%)
FIG.3 MARKET SHARE ANALYSIS, 2017 (%)
FIG.4 GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET SHARE AND FORECAST, BY TECHNOLOGY 2017 Vs 2025 (VALUE %)
FIG.5 SPEECH RECOGNITION MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.6 TEXT-TO-SPEECH MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.7 GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET SHARE AND FORECAST, BY VERTICALS 2017 Vs 2025 (VALUE %)
FIG.8 AUTOMOTIVE MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.9 HEALTHCARE MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.10 BFSI MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.11 RETAIL/E-COMMERCE MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.12 OTHER VERTICALS MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.13 GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST BY GEOGRAPHY, 2017 Vs 2025 (REVENUE, CAGR %)
FIG.14 GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET YEAR ON YEAR GROWTH, BY REGION 2017 – 2025 (%)
FIG.15 NORTH AMERICA INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.16 NORTH AMERICA INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST BY COUNTRY, 2016 – 2025 ($ MILLION)
FIG.17 U.S. INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.18 CANADA INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.19 MEXICO INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.20 EUROPE INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025, ($ MILLION)
FIG.21 EUROPE INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 BY COUNTRY, ($ MILLION)
FIG.22 UK INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.23 GERMANY INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.24 FRANCE INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.25 REST OF EUROPE INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.26 ASIA-PACIFIC INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025, ($ MILLION)
FIG.27 ASIA-PACIFIC INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 BY COUNTRY ($ MILLION)
FIG.28 INDIA INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.29 CHINA INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.30 JAPAN INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.31 AUSTRALIA INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.32 REST OF ASIA-PACIFIC INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.33 REST OF THE WORLD INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.34 REST OF THE WORLD INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 BY COUNTRY ($ MILLION)
FIG.35 SOUTH AMERICA INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.36 MIDDLE EAST INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG.37 AFRICA INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
List of Tables
TABLE 1 GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET SNAPSHOT
TABLE 2 GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, BY REGION, 2016 – 2025 ($ MILLION)
TABLE 3 DRIVERS OF THE GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET: IMPACT ANALYSIS
TABLE 4 RESTRAINTS OF THE GLOBAL INTELLIGENT VIRTUAL ASSISTANT MARKET: IMPACT ANALYSIS
TABLE 5 SPEECH RECOGNITION MARKET SIZE AND FORECAST, BY REGION, 2016 – 2025 ($ MILLION)
TABLE 6 TEXT-TO-SPEECH MARKET SIZE AND FORECAST, BY REGION, 2016 – 2025 ($ MILLION)
TABLE 7 AUTOMOTIVE MARKET SIZE AND FORECAST, BY REGION, 2016 – 2025 ($ MILLION)
TABLE 8 HEALTHCARE MARKET SIZE AND FORECAST, BY REGION, 2016 – 2025 ($ MILLION)
TABLE 9 BFSI MARKET SIZE AND FORECAST, BY REGION, 2016 – 2025 ($ MILLION)
TABLE 10 RETAIL/E-COMMERCE MARKET SIZE AND FORECAST, BY REGION, 2016 – 2025 ($ MILLION)
TABLE 11 OTHER VERTICALS MARKET SIZE AND FORECAST, BY REGION, 2016 – 2025 ($ MILLION)
TABLE 12 NORTH AMERICA INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, BY TECHNOLOGY, 2016 – 2025 ($ MILLION)
TABLE 13 NORTH AMERICA INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, BY VERTICALS, 2016 – 2025 ($ MILLION)
TABLE 14 EUROPE INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, BY TECHNOLOGY, 2016 – 2025 ($ MILLION)
TABLE 15 EUROPE INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, BY VERTICALS, 2016 – 2025 ($ MILLION)
TABLE 16 ASIA-PACIFIC INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, BY TECHNOLOGY, 2016 – 2025 ($ MILLION)
TABLE 17 ASIA-PACIFIC INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, BY VERTICALS, 2016 – 2025 ($ MILLION)
TABLE 18 REST OF THE WORLD INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, BY TECHNOLOGY, 2016 – 2025 ($ MILLION)
TABLE 19 REST OF THE WORLD INTELLIGENT VIRTUAL ASSISTANT MARKET SIZE AND FORECAST, BY VERTICALS, 2016 – 2025 ($ MILLION)
TABLE 20 MICROSOFT CORPORATION: COMPANY SNAPSHOT
TABLE 21 NUANCE COMMUNICATIONS, INC.: COMPANY SNAPSHOT
TABLE 22 SAMSUNG ELECTRONICS CO., LTD.: COMPANY SNAPSHOT
TABLE 23 ALPHABET INC.: COMPANY SNAPSHOT
TABLE 24 APPLE INC.: COMPANY SNAPSHOT
TABLE 25 AMAZON.COM, INC.: COMPANY SNAPSHOT
TABLE 26 INTERNATIONAL BUSINESS MACHINES (IBM) CORPORATION: COMPANY SNAPSHOT
TABLE 27 BAIDU, INC.: COMPANY SNAPSHOT
TABLE 28 TCL COMMUNICATION: COMPANY SNAPSHOT
TABLE 29 INBENTA VERTICALS INC.: COMPANY SNAPSHOT

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