Intelligent Virtual Assistant Market Analysis, Growth, Size, Demand, Trends, Share and Forecast 2027

The market report aims to provide an overview of the industry through detailed market segmentation. The report provides thorough information regarding the overview and scope of the market, along with the market drivers, restrains, and key trends. It covers both the quantitative and qualitative aspects of the industry in each region and country participating in the study.

Key Drivers of the Intelligent Virtual Assistant Market:

The global intelligent virtual assistant market has seen a significant increase in recent years. The increasing adoption rate of low-cost chatbots software modules, rising need for automation in customer service and marketing areas, followed by the growing integration of intelligent virtual assistant smart speakers with smart home appliances, are the major factors propelling the growth of the global intelligent virtual assistant market. The increasing demand for intelligent virtual assistants capable of offering multi-lingual support, coupled with recognizing gestures, will further fuel the growth of the intelligent virtual assistant market over the upcoming years.

The consumer electronics industry segment was projected to dominate the intelligent virtual assistant market in 2016. The increase in demand for intelligent virtual assistants in home automation systems is the key factor in surging the growth of the consumer electronics market. Moreover, the BFSI sector was projected to grow at a higher CAGR during the forecast period.

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This report splits the Intelligent Virtual Assistant Market as follows:

By Product:

Chatbot
IVA Smart Speakers

By Type:

Rule-Based
Conversational AI-Based

By Industry:

Consumer Electronics
BFSI
Healthcare
Education
Retail
Government
Utilities
Travel and Hospitality
Others

By Region:

North America

United States of America
Canada

Asia Pacific

China
Japan
India
Rest of APAC

Europe

United Kingdom
Germany
France
Spain
Rest of Europe

Brazil
South Africa
Saudi Arabia
UAE
Rest of the world (remaining countries of the LAMEA region)

Competitive Landscape:

The intelligent virtual assistant market report also scans the competitive landscape and profiles the major players operating in the market including Alphabet, Amazon, Microsoft, Samsung Electronics, IBM, Blackberry, Baidu, Inbenta Technologies, Nuance Communications, and Apple, among others.

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