Intelligent virtual
assistant system is a digital persona that delivers personalized and effortless
customer services through human like conversation interface. Virtual assistant,
virtual agents or intelligent virtual assistant offers deployment on digital
channels such as mobile apps, websites, and social media sites. This system
helps customers to perform online tasks, receives answers to different
questions and asks natural language questions. Intelligent virtual system
provides assistant on wide range of different subjects such as company details
that include product portfolio, investor related or financial details and
technology related details.
The driver that
contributes to growth of this market is growing need to automate knowledge
management as it has become the basic need of any website. However, difficulty
in integrating the knowledge bases for enterprises and intelligent virtual
assistant systems act as a challenge to overall growth of this market. The
Demand from different sectors such as telecommunication, travel, utilities and
others is expected to show major opportunity for market players. Increasing
penetration of mobility is expected to be key trend for this market.
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The different
organizations are trying to achieve improved profits by automating knowledge
management processes with deployment of intelligent virtual assistant software.
When customers enter queries on any websites, IVA software helps to interpret
the queries and automates response to provide the best answer. This type of
knowledge management is used majorly in BFSI sector. This software allows
enterprises to address customer queries and reduces operating cost that
incurred due to live chats and phone calls. IVA software handles all queries that
are asked on any platform such as website, social media or mobile.
Large enterprises are
the dominant customers for IVA software. The market scenario is predicted to be
positive for small and medium enterprises. The North America is the largest
segment and expected to remain the same in coming future. However, Asia Pacific
is estimated to be the fastest growing region during forecasted period.
Users find it
convenient to use intelligent virtual software than navigation channels.
Enterprises are benefitted owning to improved data collection and faster
response. Large enterprises cover around 80% of total market. These different
businesses include insurance, media, retail, government, finance and others.
Healthcare is the emerging sector and this software helps physician to offer on
to one care and also guide members via complex forms. However, lack of
awareness coupled with lack of standardization among different end users act as
challenge for market participants in coming future.
Some of the major
players in this market include ynthetix Ltd., Ecreation Group Pte. Ltd.,
Eidoserve (GetAbby) Inc., eGain Communications Corp., H-care SRL, Fido
intelligence Ltd., Inbenta Technologies, Stanusch Technologies SA,
Incesoft Co. Ltd., Oddcast Inc., Indisys, The Selfservice Company Inc.,
Vi-Clone Corp., MyCyberTwin Pty. Ltd., CodeBaby Corp., IntelliResponse Systems
Inc., InteliWISE SA, SpeakToit Inc., Nuance Communications Inc., and
Artificial Solutions UK Ltd.
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This
research report analyzes this market depending on its market segments, major
geographies, and current market trends. Geographies analyzed under this
research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive
analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming
years
This
report is a complete study of current trends in the market, industry growth
drivers, and restraints. It provides market projections for the coming years.
It includes analysis of recent developments in technology, Porter’s five force
model analysis and detailed profiles of top industry players. The report also
includes a review of micro and macro factors essential for the existing market
players and new entrants along with detailed value chain analysis.
Reasons for Buying this
Report
- This report provides pin-point
analysis for changing competitive dynamics
- It provides a forward looking
perspective on different factors driving or restraining market
growth
- It provides a technological growth
map over time to understand the industry growth rate
- It provides a seven-year forecast
assessed on the basis of how the market is predicted to grow
· It helps in making informed business
decisions by having complete insights of market and by making in-depth analysis
of market segments.
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