New York, Nov. 16, 2022 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Intelligent Virtual Assistant Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Service, Technology and End-User”, The global intelligent virtual assistant market growth is fuelled by demand for automation in customer service, integration of speaker-based virtual assistants and smart home appliances and high adoption of chatbots. APAC is expected to grow at the highest CAGR during the forecast period in the intelligent virtual assistant market.
Download Sample PDF Brochure of Intelligent Virtual Assistant Market Size - COVID-19 Impact and Global Analysis with Strategic Insights at: https://www.theinsightpartners.com/sample/TIPTE100000442
Global Intelligent Virtual Assistant Market – Report Scope:
| Market Size Value in | USD 7.01 Billion in 2021 |
| Market Size Value by | USD 47.57 Billion, by 2028 |
| Growth rate | CAGR of 31.9% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| No. of Pages | 150 |
| Historical data available | Yes |
| Segments covered | Service, Technology and End-User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global Intelligent Virtual Assistant Market: Competitive Landscape
Alphabet Inc.; Amazon.com, Inc.; Anboto; Apple Inc.; Artificial Solutions; Reative Virtual Ltd.; IBM Corporation; Inbenta Technologies Inc.; Microsoft; and Nuance Communications, Inc. are among the leading intelligent virtual assistant market players profiled during the study. Several other major companies operating in the intelligent virtual assistant market were analyzed during this research study to get a holistic view of the intelligent virtual assistant market and its ecosystem.
Inquiry Before Purchase at: https://www.theinsightpartners.com/inquiry/TIPTE100000442
Intelligent Virtual Assistant Market Overview:
Intelligent virtual assistants (IVA), also called digital employees, provide a conversation facility to the company's customer or client. IVA provides 24/7 customer service to clients. In the intelligent virtual assistant market, the adoption of IVA has increased among companies who are not willing to invest in overseas call center operations. IVA can manage common and mundane challenges without needing a live agent. It can also collect customer information such as a personal identification number, an account number, or a basic description of the customer/client problem and have it ready for the agent to optimize the interaction. This ability of IVA has minimized the time spent collecting client information by the agent, catalyzing to the intelligent virtual assistant market growth.
IVA can help humans more effectively and rapidly to communicate with technology. IVA is used for several consumer and business applications, such as communication with leads, prospects, customers, and employees in a human-like manner; multilingual communications; conversational AI for business; and reading and responding to emails and SMS texts, catalyzing the IVA adoption and is also foreseen to boost the intelligent virtual assistant market during the forecast. Furthermore, the factors such as the high adoption of chatbots because of the availability of low-cost software modules for chatbot design, demand for automation in customer service, and integration of speaker-based virtual assistants and smart home appliances contribute to the growth of the intelligent virtual assistant market during the forecast period.
Speak to Our Research Expert at https://www.theinsightpartners.com/speak-to-analyst/TIPTE100000442
Market Players Adopting Intelligent Virtual Assistant:
For instance, the US Citizenship and Immigration Service implemented Emma, which manages the queries from the customers written in both Spanish and English. The services managed 3.3 million visitors queries of ~10.5 million, with a 91% and 89% success rate for answering in English and Spanish, respectively. Similarly, Westar Energy, the utility company in Kansas, started using IVAs to reduce the time its agents spent on each call and improve customer self-service. In 2019, Westar completed 39% of its callers' transactions through self-service using IVA. Further, 80% of callers reported satisfaction with their overall experience, helping the organization increase its JD Power scores by 25% since the implementation of the IVA solution. This factor is catalyzing the intelligent virtual assistant market and is also foreseen to boost the market during the forecast period.
Impact of COVID-19 Pandemic on Intelligent Virtual Assistant Market:
The COVID-19 pandemic has benefited the market for IVAs. Businesses are facing new challenges due to the impacts of the pandemic, and the development of remote work environments has positively influenced the global market dynamics. The COVID-19 outbreak has highlighted the necessity for businesses in various industries to adopt digital technologies and leverage the potential of IVAs by helping companies address customer's queries digitally with lower turnaround time by implementing chatbots and AI technology. The associated advantages of IVA have enabled enterprises to adopt IVA solutions, which helps businesses grow. With the rise in demand for personalized services with agility, IVA will continue to receive impetus over the next few years. Moreover, the onset of the pandemic has augmented the deployments and investment in cloud-based solutions for IVA solutions. Investment in IVA and the integration of AI and cloud-based platforms have rapidly fueled the adoption of IVA during the pandemic.
Quickly Purchase Premium Copy of Intelligent Virtual Assistant Market Growth Report (2022–2028) at https://www.theinsightpartners.com/buy/TIPTE100000442
Browse Adjoining Reports:
Healthcare Virtual Assistants Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Speech Recognition, Text-to-Speech, and Voice Recognition) and End User (Providers, Payers, and Others)
Health Intelligent Virtual Assistant Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology (Speech Recognition, Text-to-Speech, Voice Recognition); End User (Payers, Providers, Others) and Geography
Smart Speaker Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Hardware, Software); Intelligent Virtual Assistant Type (Google Assistant, Cortana, Siri, Alexa, Others); Application (Consumer, Smart Home, Smart Office, Others) and Geography
Intelligent Virtual Assistants Solution Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Customer Serivice, Sales and Marketing, Others); End User (BFSI, Telecom, Hospitality, Retail, Others) and Geography
Virtual Receptionist Solutions Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (SMEs, Large Enterprise); Product (Voice Reception, Video Reception, Web Chat, Others) and Geography
AI Sales Assistant Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solution, Services); Organization Size (Small and Medium Enterprises, Large Rnterprises); End-User (BFSI, Food and Beverage, Media and Entertainment, Travel and Hospitality, Retail and Consumer Goods, Marketing and Advertising, IT and Telecom, Others) and Geography
Healthcare Chatbots Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Software, Service); Deployment Model (Cloud, On-Premise); Application (Symptom Check, Medical Assistance, Appointment Booking); End User (Patient, Healthcare Providers, Insurance Companies) and Geography
Customer Care BPO Market to 2027 - Global Analysis and Forecasts by Solution (Onshore Outsourcing, Offshore Outsourcing, and Nearshore Outsourcing); End-User (BFSI, IT & Telecommunication, Manufacturing, Retail & E-Commerce, Healthcare & Pharmaceutical, Transport & Logistics, Media & Communication, and Automotive)
Customer Service Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Component (Software, Services); Deployment Type (Cloud, On-premises); Enterprise Size (Small and Medium-Size Enterprises, Large Enterprises); End-user (BFSI, IT and Telecom, Retail and E-Commerce, Government, Healthcare, Manufacturing, Others) and Geography
Social Customer Relationship Management Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Solution (Social Monitoring, Social Mapping, Social Middleware, Social Management, Social Measurement); Application (Marketing, Sales, Customer Support and Service, Others); Verticals (BFSI, Consumer Goods and Retail, Energy and Power, Healthcare, Oil and Gas, Telecom and IT, Automotive, Government, Transportation and Logistics, Others); Organization Size (Small and Medium Enterprises, Large Enterprises) and Geography
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/intelligent-virtual-assistant-market
