Intelligent Virtual Assistant (IVA) Market

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Global Intelligent Virtual Assistant Market to
Garner a Revenue of nearly USD 44 Billion by
2031 Increased Demand for Effective and
Efficient Customer Engagement to Drive the
Market Growth Kenneth Research published a report
titled Intelligent Virtual Assistant Market
Global Demand Analysis Opportunity Outlook
2031 which delivers detailed overview of
intelligent virtual assistants in terms of market
segmentation by product, technology, application
and by region. Further, for the in-depth
analysis, the report encompasses the industry
growth indicators, restraints, supply and demand
risk, along with detailed discussion on current
and future market trends that are associated
with the growth of the market.
Through chatbots or by using intelligent speakers
and applications, virtual assistants establish
an interaction with the user that is intended to
solve a specific need or generate an action.
Increased need for effective and efficient
customer engagement by companies are driving
their demand immensely. They help organization in
providing better communication between consumer
and company by increasing the potential of live
chat through quick response, and time saving. It
is estimated that over 35 of the people use a
customer service bot to get a quick answer in an
emergency. Backed by these key factors, the
global intelligent virtual
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assistant market is estimated to garner around
USD 44 billion in revenue by the end of 2031 by
growing at a CAGR of 38 over the forecast
period, i.e., 2022 2031. The market is
segmented by application into navigation tools,
smartphones, e-commerce websites, gaming apps,
translation devices, and online portals. Among
these, the e-commerce websites segment is
anticipated to hold the largest share of the
market and witness significant growth over the
forecast period owing to usage of chatbots and
voice assistance in e- commerce websites and
applications which make purchases convenient and
highly repetitive for consumers. Nearly 50 of
online retail store customers accept AI
chatbots. For more descriptions_at_https//www.kennet
hresearch.com/report-details/intelligent-virtual-
assistant-market/10070531 Geographically, the
global intelligent virtual assistant market is
segmented into five major regions including
North America, Europe, Asia Pacific, Latin
America, and Middle East Africa region. The
market in North America region is estimated to
hold the major share over the forecast period.
Advanced IT infrastructure and high adoption of
technology in the region is driving the market
growth. Additionally, Asia Pacific region is
projected to witness the highest growth during
the forecast period. The research is global in
nature and covers detailed analysis on the market
in North America (U.S., Canada), Europe (U.K.,
Germany, France, Italy, Spain, Hungary, Belgium,
Netherlands Luxembourg, NORDIC Finland,
Sweden, Norway, Denmark, Poland, Turkey, Russia,
Rest of Europe), Latin America (Brazil, Mexico,
Argentina, Rest of Latin America), Asia-Pacific
(China, India, Japan, South Korea, Indonesia,
Singapore, Malaysia, Australia, New Zealand,
Rest of Asia-Pacific), Middle East and Africa
(Israel, GCC Saudi Arabia, UAE, Bahrain,
Kuwait, Qatar, Oman, North Africa, South Africa,
Rest of Middle East and Africa). In addition,
analysis comprising market size, Y-O-Y growth
opportunity analysis, market players
competitive study, investment opportunities,
demand for future outlook etc. has also been
covered and displayed in the research
report. Cost Effectiveness of Intelligent
Virtual Assistants to Boost Market
Growth Intelligent virtual assistants are being
implemented by large-scale industries as they
help in eliminating the infrastructure setup
cost. It is estimated that chatbots can cut
operational costs by up to 30. This leads to
their fast acceptance and increasing
implementation among
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organizations. This is one of the key factors
driving the growth of the global intelligent
virtual assistant market. However, reluctance to
comprehend in smart speakers, and language
barriers and lack of accuracy in chatbots are
some of the factor restraining the growth of the
market. This report also provides the existing
competitive scenario of some of the key players
of the global intelligent virtual assistant
market which includes company profiling of
Alphabet, Apple Inc., Artificial Solutions,
eGain Corporation, IBM, Amelia US LLC, Nuance
Communications, Inc., Verint Systems Inc.,
SAMSUNG, Sonos, Inc., and others. The profiling
enfolds key information of the companies which
encompasses business overview, products and
services, key financials and recent news and
developments. On the whole, the report depicts
detailed overview of the global intelligent
virtual assistant market that will help industry
consultants, equipment manufacturers, existing
players searching for expansion opportunities,
new players searching possibilities and other
stakeholders to align their market centric
strategies according to the ongoing and expected
trends in the future. Request Report Sample_at_
https//www.kennethresearch.com/sample-request-100
70531 Kenneth Research is a leading service
provider for strategic market research and
consulting. We aim to provide unbiased,
unparalleled market insights and industry
analysis to help industries, conglomerates and
executives to take wise decisions for their
future marketing strategy, expansion and
investment etc. We believe every business can
expand to its new horizon, provided a right
guidance at a right time is available through
strategic minds. Our out of box thinking helps
our clients to take wise decision in order to
avoid future uncertainties. Contact for more
Info AJ Daniel Email sales_at_kennethresearch.com
U.S. Phone [phone]