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Intelligent Virtual Assistant Market Expected to reach US$ 5.1 Bn by 2022,Globally: Transparency Market Research

Intelligent Virtual Assistant Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2022
Published 08 September 2015

The market for intelligent virtual assistant,globally, is forecast to reach US$5.1Bnby 2022.Intelligent virtual assistants are the new breeds of mobility solutions and business communication. Virtual assistants are increasingly entering the mobility market where they are being utilized in order to increase business productivity. The fundamental problem faced by customers interacting with online websites is the inability to find the most appropriate answer to their questions. Usage of next generation self-service technology such as intelligent virtual assistants helps in improving the customer engagement service issues online.

The global intelligent virtual assistant market was valued at US$579.7Mnin 2014 and is forecast to grow at a CAGR of 31.8% from 2015to 2022.There are two major types of technologies used in intelligent virtual assistants, namely, text-to-speech technology and speech recognition technology. Among these two technologies, speech recognition is the most popular technology at present as it provides the feature of interactive and intuitive communication. The end users of intelligent virtual assistants include individual users, small and medium enterprises, and large enterprises. Large enterprise users are increasingly displaying confidence in accepting intelligent virtual assistants as the preferred solution for their business requirements.

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Based on geography, the intelligent virtual assistant market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. In terms of regional adoption, North America was the largest contributor to the global intelligent virtual assistant market in 2014, accounting for around 39% share of the overall intelligent virtual assistant market. Asia Pacific is expected to be the fastest growing market for intelligent virtual assistant during the forecast period from 2015 to 2022, growing at a CAGR of 33.4% from 2015 to 2022. This is mainly due to the increased focus on technological investments and high proliferation of mobile devices in the Asia Pacific region.

The global intelligent virtual assistant market is highly fragmented and competitive. Some  of the key industry participants in this market include NextIT Corporation, Creative Virtual Ltd., VirtuOz Inc., Anboto Group., CodeBaby Corp., IntelliResponse Systems Inc., Nuance Communications Inc., Speaktoit Inc., Artificial Solutions UK Ltd., and eGain Communications Corp among others.

This report analyzes the globalintelligent virtual assistant market in terms of revenue (US$ Mn). The market has been segmented as follows:

Browse the full Intelligent Virtual Assistant Market (Technology: Text-to-speech, Speech Recognition; End-users: Individual Users, Small and Medium Enterprise, Large Enterprise) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2022 report at

Intelligent Virtual Assistant Market, by Technology:

  • Text-to-speech
  • Speech Recognition

Intelligent Virtual Assistant Market, by End-users:

  • Individual Users
  • Small and Medium Enterprise
  • Large Enterprise

Intelligent Virtual Assistant Market, by Geography:

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • EU7
    • CIS
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • Indian Subcontinent
    • Australasia
    • Rest of Asia Pacific
  • Middle East and Africa (MEA)
    • GCC Countries
    • North Africa
    • South Africa
    • Rest of MEA
  • Latin America
    • Brazil
    • Rest of Latin America

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Transparency Market Researchis a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our highly experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. 

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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