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Global Intelligent Virtual Assistant (IVA) Market Forecast: By Technology: Speech Recognition, Text-to-Speech; By Products: Chatbots, Smart Speakers; By Application: Automotive, Healthcare, BFSI, Retail (E-commerce), Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Intelligent Virtual Assistant (IVA) Market Analysis by Region
North America has the dominant position in the market, driven by technological advancements and presence of key industry players
The North American region is expected to hold the highest share in the market due to high technological adoption in industries such as consumer electronics, BFSI, healthcare, education, retail, government, utilities, and travel and hospitality. The region's robust IT infrastructure, coupled with significant investments in artificial intelligence and machine learning, fuels the growth of IVAs.
Asia Pacific intelligent virtual assistant (IVA) market share is expected to grow at the highest rate due to the presence of emerging economies like China and India, which are adopting IVAs for providing uninterrupted customer support services. The regional market is also growing due to ongoing technological advancements and increasing smartphone penetration. Countries such as Japan and South Korea are at the forefront of adopting IVA technologies, supported by large consumer bases and booming e-commerce sectors.
Intelligent Virtual Assistant (IVA) Market Report Snapshots
Intelligent Virtual Assistant (IVA) Market Size
Intelligent Virtual Assistant (IVA) Market Growth
Intelligent Virtual Assistant (IVA) Market Trends
Intelligent Virtual Assistant (IVA) Market Share
Intelligent Virtual Assistant (IVA) Companies
Intelligent Virtual Assistant (IVA) Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Intelligent Virtual Assistant (IVA) Market Analysis
8.1 Key Industry Highlights
8.2 Global Intelligent Virtual Assistant (IVA) Historical Market (2018-2023)
8.3 Global Intelligent Virtual Assistant (IVA) Market Forecast (2024-2032)
8.4 Global Intelligent Virtual Assistant (IVA) Market by Technology
8.4.1 Speech Recognition
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Text-to-Speech
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Intelligent Virtual Assistant (IVA) Market by Products
8.5.1 Chatbots
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Smart Speakers
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Intelligent Virtual Assistant (IVA) Market by Application
8.6.1 Automotive
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Healthcare
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 BFSI
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Retail (E-commerce)
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Others
8.7 Global Intelligent Virtual Assistant (IVA) Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Intelligent Virtual Assistant (IVA) Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Intelligent Virtual Assistant (IVA) Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Intelligent Virtual Assistant (IVA) Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Intelligent Virtual Assistant (IVA) Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Intelligent Virtual Assistant (IVA) Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Amazon.com, Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Apple, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Google, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 IBM Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 CCS Corp.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Clara Labs
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Creative Virtual
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 CodeBaby Corporation
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 eGain Corporation
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Kognito
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Intelligent Virtual Assistant (IVA): Key Industry Highlights, 2018 and 2032
2. Global Intelligent Virtual Assistant (IVA) Historical Market: Breakup by Technology (USD Billion), 2018-2023
3. Global Intelligent Virtual Assistant (IVA) Market Forecast: Breakup by Technology (USD Billion), 2024-2032
4. Global Intelligent Virtual Assistant (IVA) Historical Market: Breakup by Products (USD Billion), 2018-2023
5. Global Intelligent Virtual Assistant (IVA) Market Forecast: Breakup by Products (USD Billion), 2024-2032
6. Global Intelligent Virtual Assistant (IVA) Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global Intelligent Virtual Assistant (IVA) Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global Intelligent Virtual Assistant (IVA) Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Intelligent Virtual Assistant (IVA) Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Intelligent Virtual Assistant (IVA) Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Intelligent Virtual Assistant (IVA) Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Intelligent Virtual Assistant (IVA) Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Intelligent Virtual Assistant (IVA) Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Intelligent Virtual Assistant (IVA) Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Intelligent Virtual Assistant (IVA) Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Intelligent Virtual Assistant (IVA) Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Intelligent Virtual Assistant (IVA) Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Intelligent Virtual Assistant (IVA) Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Intelligent Virtual Assistant (IVA) Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Intelligent Virtual Assistant (IVA) Market Structure
Key Questions Answered in the Report
In 2023, the intelligent virtual assistant (IVA) market reached an approximate value of USD 8.74 billion.
The market indicates a healthy growth at a CAGR of 37% between 2024 and 2032.
The major drivers of the market include the rising smartphone penetration, incorporation of natural language understanding technology, growing use of smart speakers in residential sector, automation and digitisation in the retail sector, and increasing IT investments.
The increasing adoption of cost-effective methodologies to deliver effective and efficient customer services, increasing adoption of intelligent virtual assistant software within large enterprises, and increasing customer’s demand for speech recognition technology in IAVs are the key industry trends propelling the market's growth.
Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Based on technology, the market is divided into speech recognition and text-to-speech.
Chatbots and smart speakers are considered in the market report.
The major applications include automotive, healthcare, BFSI, and retail (e-commerce), among others.
Key players in the market are Amazon.com, Inc., Apple Inc., Google Inc., IBM Corporation, CSS Corp., Clara Labs, Creative Virtual, CodeBaby Corporation, eGain Corporation, and Kognito, among others.
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