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DUBLIN , June 10, 2022 /PRNewswire/ -- The "Intelligent Virtual Assistant Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global intelligent virtual assistant market reached a value of US$ 6.27 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 40.95 Billion by 2027, exhibiting at a CAGR of 37.61% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

An intelligent virtual assistant (IVA), also known as intelligent personal assistant (IPA), is a software that understands natural language voice commands and aids in completing basic tasks. These tasks can include drafting text messages, searching for information on the internet, finding hotels or restaurants, checking flight reservations, listening to the music, playing games, adding events in a calendar and checking the status of smart home devices.

Owing to this, these assistants are nowadays integrated into most gadgets, such as smartphones, smartwatches, tablets and portable speakers. Some of the most popular IVAs include Google Assistant, Apple's Siri, Microsoft's Cortana and Amazon's Alexa. The increasing investment in research and development activities (R&D) by some of the leading players for introducing innovative products in the industry is strengthening the market growth.

For instance, announced in May 2018 , Google Duplex is a new project wherein Google Assistant allows users to make reservations via a smartphone without any interaction from their end. Apart from this, the escalating sales of smartphones, along with the rising influence of social media platforms, have led to a substantial rise in consumer awareness about the benefits offered by IVAs worldwide.

Besides this, the high demand for automation in services that provide customer support is also impelling the market growth. Furthermore, the rising usage of IVAs by the young generation, coupled with the consistently improving consumer experience, is catalyzing their demand around the world. Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry.

Some of these players are:

Key Questions Answered in This Report:

Key Topics Covered: 1 Preface 2 Scope and Methodology 3 Executive Summary 4 Introduction 4.1 Overview 4.2 Key Industry Trends 5 Global Intelligent Virtual Assistant Market 5.1 Market Overview 5.2 Market Performance 5.3 Impact of COVID-19 5.4 Market Breakup by Product 5.5 Market Breakup by Type 5.6 Market Breakup by Technology 5.7 Market Breakup by Application 5.8 Market Breakup by Region 5.9 Market Forecast 5.10 SWOT Analysis 5.10.1 Overview 5.10.2 Strengths 5.10.3 Weaknesses 5.10.4 Opportunities 5.10.5 Threats 5.11 Value Chain Analysis 5.11.1 Overview 5.11.2 Research and Development 5.11.3 Inputs 5.11.4 Products and Services 5.11.5 Marketing and Distribution 5.11.6 End Users 5.11.7 Post Sales Services 5.12 Porters Five Forces Analysis 5.12.1 Overview 5.12.2 Bargaining Power of Buyers 5.12.3 Bargaining Power of Suppliers 5.12.4 Degree of Competition 5.12.5 Threat of New Entrants 5.12.6 Threat of Substitutes 6 Market Breakup by Product 6.1 Chatbots 6.1.1 Market Trends 6.1.2 Market Forecast 6.2 IVA Smart Speakers 6.2.1 Market Trends 6.2.2 Market Forecast 7 Market Breakup by Type 7.1 Rule-Based 7.1.1 Market Trends 7.1.2 Market Forecast 7.2 Conversational AI Based 7.2.1 Market Trends 7.2.2 Market Forecast 8 Market Breakup by Technology 8.1 Text-Based 8.1.1 Market Trends 8.1.2 Market Forecast 8.2 Text-To-Speech 8.2.1 Market Trends 8.2.2 Market Forecast 8.3 Automatic Speech Recognition (ASR) 8.3.1 Market Trends 8.3.2 Market Forecast 8.4 Others 8.4.1 Market Trends 8.4.2 Market Forecast 9 Market Breakup by Application 9.1 Banking, Financial Services and Insurance (BFSI) 9.1.1 Market Trends 9.1.2 Market Forecast 9.2 Travel 9.2.1 Market Trends 9.2.2 Market Forecast 9.3 Retail 9.3.1 Market Trends 9.3.2 Market Forecast 9.4 Government 9.4.1 Market Trends 9.4.2 Market Forecast 9.5 Education 9.5.1 Market Trends 9.5.2 Market Forecast 9.6 Others 9.6.1 Market Trends 9.6.2 Market Forecast 10 Market Breakup by Region 11 Competitive Landscape 11.1 Market Structure 11.2 Key Players 11.3 Profiles of Key Players 11.3.1 Microsoft Corporation 11.3.2 Nuance Communications, Inc. 11.3.3 Samsung Electronics Co. Ltd. 11.3.4 Alphabet, Inc. 11.3.5 Apple, Inc. 11.3.6 Amazon.com Inc. 11.3.7 International Business Machines (IBM) Corporation 11.3.8 Baidu, Inc. 11.3.9 BlackBerry Ltd. 11.3.10 Inbenta Technologies, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/cjs6zq

Research and Markets Laura Wood , Senior Manager [email protected]   

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