Global Intelligent Virtual Assistant Market 2015-2019 - Market Study
IVA is a computer-generated character (an avatar or a 3D animated persona) that deliver text-based or voice-based information and service assistance to customers via a kiosk, mobile, or website. It incorporates natural-language processing and domain knowledge that changes according to the content of the dialog between the virtual assistant and customer. IVA provides user with vital information on topics such as company details, including financial and investor-related details, product portfolios, and technology-related information. IVA acts as a company representative to interact with the customers to address their queries specific to the company.
Technavio’s analysts forecast the global intelligent virtual assistant market to grow at a CAGR of 54.32% over the period 2014-2019.
Covered in this report
The report includes the present scenario and the growth prospects of the global intelligent virtual assistant market for the period 2015-2019. On the basis of end-user, the market is categorized into two segments:
Technavio Announces the Publication of its Research Report – Global Intelligent Virtual assistant Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Intelligent Virtual assistant Market: Anboto, CX Company, 7, Creative Virtual, Ecreation BV, eGain, GetAbby, H-care, Inbenta, Next IT, Nuance Communications, Synthetix and ViClone
Commenting on the report, an analyst from Technavio’s team said: “The global IVA market is highly fragmented because there is no proprietary technology or knowledge that can prevent new companies from entering the market. In addition, the cost of developing a company's own IVA product is low because of the availability of numerous open-source NLP engines. This has resulted in an increase in the number of companies providing this technology at a low price to find a place in the market.”
According to the report, web self-service enables customers and employees to use the enterprise website without the need to interact with a representative of an enterprise. Enterprises deploy VA software as it eases web self-services through automatic analysis, and the search for new content eradicates the need for any specialist skills or dedicated resources to answer client queries.
Further, the report states that customers can query in the form of text as well as speech, as VAs use NLP technology and semantic search techniques to provide an answer. These techniques use complex algorithms to understand user objectives and sentiments to generate an appropriate response. As a customer query may vary from being very technical to being very basic, it is very difficult for VAs to keep track of all forms of inquiries. Different customers may ask the same question in many different ways, which also complicates the communication with the VAs.
Medtronic, Medline, Dynarex, MedPride, Allison Medical, Phoenix Healthcare Solutions, The Clorox Company, Professional Disposables International, Delta Hi-Tech, Reynard Health Supplies, DUKAL, Shenzhen 3Leaves Technology, Nipro, Sklar