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Home | Search Global IT News: IT News & Press Release Distribution: Global Intelligent Virtual Assistant Market Analysis, Size, Share, Growth, Trends and Forecast to 2024   mrrse (IT-NEWSWIRE.COM, February 17, 2018 ) Market Research Reports Search Engine (MRRSE) has been serving as an active source to cater intelligent research report to enlighten both readers and investors. This research study titled “Intelligent Virtual Assistant Market“ Request a Free Sample Report @ https://www.mrrse.com/sample/350 On account of the presence of a large number of local and global players, the global Intelligent Virtual Assistant Market is witnessing a highly fragmented vendor landscape. The leading players, comprising Nuance Communication Inc., IntelliResponse Systems, Next IT Corporation, and Creative Virtual Ltd. held nearly 32% of the global market in 2015. Some of the other prominent names operating in the global intellectual virtual assistant market are Artificial Solutions Ltd., CodeBaby Corporation, Anboto Group, and Speaktoit Inc. A majority of the market players are focusing on expanding their product portfolio and regional presence via merger and acquisition. Also they have become more willing to spend on innovations to enable intelligent virtual assistant usage across diverse applications. This trend is gradually picking pace, as more companies provide utilities such as self-service, access to internal employee guides, improved customer experience, and intelligent reporting. For instance, Nuance Communications Inc., in June 2016 expanded its healthcare offering using intelligent virtual assistant technologies in healthcare and clinical services. Besides this, an increasing number of smaller market players are looking to boost their portfolio through strategic partnerships. Such strategies adopted by the players will significantly impact the global intelligent virtual assistant’s market over the course of the forecast period. Global intelligent virtual assistant market is expected to reach US$7.9 bn by the end of 2024, from US$627.7 mn – its valuation in 2015. If these figures hold true, the market will exhibit an astounding CAGR of 32.8% between 2016 and 2024. Based on technology, the demand for speech recognition has emerged as the leading revenue generator in the global intelligent virtual assistant market. Between 2016 and 2024, the market is expected to showcase a CAGR of 33.3%. Regionally, North America emerged dominant, however, Asia Pacific is forecast to exhibit a stronger CAGR during the forecast period. Send an Inquiry @ https://www.mrrse.com/enquiry/350 Proliferation of Social Media Platforms to Creative Lucrative Prospects “Social media has had immense impact on the development of the intelligent virtual assistant technology,” said a lead MRRSE analyst. As consumers worldwide spend more time on social media and become increasingly dependent on these platforms for daily errands, their purchase decisions are highly influenced by what they see on the internet. Against the backdrop, the deployment of intelligent virtual assistant has gained pace in the retail sector. This again is driven by increased focus of players on offering improved customer experience. In addition, the paradigm shift of various organizations from analog to digital technologies has led to the creation of staggering volume of data, subsequently fuelling the demand for intelligent virtual assistant. Driven by these factors, the global market is forecast to exhibit strong growth in the forthcoming years. High Cost of Intelligent Virtual Assistant Technology may limit their Adoption On the flip side, high cost of intelligent virtual assistant and high cost associated with it pose threat to the global intellectual virtual assistant market. The market may reel under the lack of skilled resources as well. These challenges can refrain effective utilization of intelligent virtual assistant, thus creating challenges for the market. Outlook Complete Report with Table of Content @ https://www.mrrse.com/enquiry/350 The report segments the global intelligent virtual assistant market as: Intelligent Virtual Assistant Market Analysis, by Technology Text-to-Speech Recognition Speech Recognition Speech Recognition Systems Speaker Dependent Systems Discrete Speech Recognition Continuous Speech Recognition Speaker Independent Systems Discrete Speech Recognition Continuous Speech Recognition Natural Language Processing (NLP) Intelligent Virtual Assistant Market Analysis, by Application Websites Contact Centers Messenger Bots Intelligent Virtual Assistant Market Analysis, by End-user Individual Users Small and Medium Enterprises Large Enterprises In addition, the report provides cross-sectional analysis of the intelligent virtual assistant market with respect to the following geographical segments: North America The U.S. Canada Rest of North America Europe The U.K. Germany France Spain Italy Rest of Europe Asia-Pacific Japan China India Rest of Asia Pacific Middle East and Africa (MEA) The UAE Saudi Arabia South Africa Rest of the Middle East & Africa Latin America Brazil Rest of Latin America Check Discount on This Report @ https://www.mrrse.com/checkdiscount/350 About Market Research Reports Search Engine (MRRSE) Market Research Reports Search Engine (MRRSE) is an industry-leading database of Market Research Reports. MRRSE is driven by a stellar team of research experts and advisors trained to offer objective advice. Our sophisticated search algorithm returns results based on the report title, geographical region, publisher, or other keywords. MRRSE partners exclusively with leading global publishers to provide clients single-point access to top-of-the-line market research. MRRSE’s repository is updated every day to keep its clients ahead of the next new trend in market research, be it competitive intelligence, product or service trends or strategic consulting. Contact Us State Tower 90, State Street Suite 700 Albany, NY - 12207 United States Telephone: +1-518-730-0559 Email: sales@mrrse.com Website: https://www.mrrse.com/ Read More Industry News At: https://www.industrynewsanalysis.com/ MRRSE Alok Kumar +1-518-730-0559 sales@mrrse.com Source: EmailWire.Com Source: EmailWire.com

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