Global Intelligent Virtual Assistant Market

Market Dynamics:
1. Market Drivers
1.1 Incorporation of gesture recognition in IVA
1.2 Rise in the market due to multi-language support in IVAs
1.3 Adoption of chatbots due to the availability of low cost software modules for chatbot design
1.4 Increasing demand for automation in customer service
1.5 Rise in the integration of speaker-based VA and smart home appliances

2. Market Restraints
2.1 Poor awareness about IVAs in developing countries
2.2 Limited market research of IVA smart speakers
2.3 Poor accuracy in chatbot
2.4 Issues with system integration

Market Segmentation:
The Global Intelligent Virtual Assistant Market is segmented on the user interface, product, type, vertical, and region.

1. User Interface:
1.1 Text-To-Speech
1.2 Text Based
1.3 Automatic Speech Recognition (ASR)

2. By Product:
2.1 IVA Smart Speakers
2.2 Chatbots

3. By Type:
3.1 Conversational AI based
3.2 Rule based

4. By Vertical:
4.1 Healthcare
4.2 Government
4.3 Consumer Electronics
4.4 Banking, Financial Services, and Insurance (BFSI)
4.5 Travel and Hospitality
4.6 Retail
4.7 Education
4.8 Others

5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa

Competitive Landscape:
The major players in the market are as follows:
1. Nuance Communications
2. Samsung Electronics
3. Apple
4. IBM Corporation
5. Amazon
6. Microsoft
7. Alphabet
8. Inbenta Technologies
9. Blackberry
10. Baidu
11. Facebook
12. Unified Computer Intelligence
13. Mycroft Ai
14. Artificial Solutions
15. Cognitive Code

These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Intelligent Virtual Assistant Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.

The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.

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