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Intelligent Virtual Assistant Market by Product (Chatbots, IVA smart speakers), User Interface (Text-based, Text-to-speech based, Automatic Speech Recognition), Industry (Consumer Electronics, BFSI, Retail), and Geography - Global Forecast to 2023

Intelligent Virtual Assistant Market by Product (Chatbots, IVA smart speakers), User Interface (Text-based, Text-to-speech based, Automatic Speech Recognition), Industry (Consumer Electronics, BFSI, Retail), and Geography - Global Forecast to 2023

“Intelligent virtual assistant market projected to grow at a CAGR of 38.82% during the forecast period”
According to the new market research report on intelligent virtual assistant (IVA), the market is expected to be worth USD 17.72 billion by 2023 from USD 2.48 billion in 2017, growing at a CAGR of 38.82% between 2017 and 2023. The growth of the IVA market can be attributed to the growing application of IVA in automated customer support services and smart home systems. The lack of accuracy in chatbots is the main restraining factor for the IVA market.

“The market of automatic speech recognition held the highest market share in 2016”
The automatic speech recognition (ASR)-based IVAs held the highest market share in 2016. Automatic speech recognition (ASR) is used in smart speakers. ASR-based IVAs are growing in terms of usage because of the increasing demand for smart speakers in home automation systems especially in North America and Europe. The smart home appliances are driving the demand for smart speakers in the market.

“Consumer Electronics sector accounted for the highest market share in 2016”
The Consumer electronics sector accounted for the highest market share among BFSI, healthcare, education, retail, government, utilities, travel and hospitality, and others. Smart speakers are highly in demand for smart home appliances such as wireless-connected thermostats, refrigerators, washing machines, and others. Smart speakers are used in controlling such devices; hence, consumer electronics held the highest share of the market in 2016.

“RoW and Asia Pacific to be the fastest-growing markets during the forecast period”
North America accounted for the largest share of the overall IVA market in 2016 due to the early availability and, thus, the increasing adoption of IVA smart speakers. APAC and RoW are the fastest-growing IVA markets. This is mainly because of the presence of the countries such as China and India where technological adoption is happening at a very high rate. Therefore, this region is also expected to continue its growth at the highest rate from 2017 to 2023.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews of key opinion leaders in the IVA market were conducted. The break-up of primary participants for the report is shown below:
• By Company Type – Tier 1– 65%, Tier 2 – 15%, and Tier 3 – 20%
• By Designation – C-Level Executives – 55%, Directors – 15%, and Others – 30%
• By Region – North America – 20%, Europe – 10%, APAC – 40%, South America –12%, and the Middle East and Africa – 18–30%

The report profiles key players in the IVA market with their respective market share analysis. Key players profiled in this report are Alphabet (US), Amazon (US), Apple (US), Nuance Communications (US), IBM (US), Microsoft (US), Samsung Electronics (South Korea), Inbenta Technologies (US), Baidu (China), and Blackberry (US).

Study Coverage:
The research includes the segmentation of IVAs on the basis of product, user interface, type, and industry. By product, IVAs are segmented as chatbots and IVA smart speakers. By user interface, IVAS are segmented as text based, text-to-speech based, automatic speech recognition (ASR), and others. IVAs are segmented by type as rule based and conversational AI based. IVAs are used in industries such as consumer electronics, BFSI, healthcare, education, retail, government, utilities, travel and hospitality, and others. It also includes major drivers, restraints, opportunities, and challenges for the IVA market. Opportunities in the market have been defined for stakeholders, along with the details of the competitive landscape for the market leaders. Strategic profiling of the key players in the IVA market has been done, and the players’ market rankings and core competencies have been comprehensively analyzed. There is an Illustrative competitive leadership mapping of 25 global companies in the report.

Reasons to buy the report
1. This report segments the IVA market comprehensively and provides the closest approximations of the size of the overall market and its subsegments across verticals and regions.
2. The report helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders better understand a competitor and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem and strategic developments.


  • INTRODUCTION
    • OBJECTIVES OF THE STUDY
    • DEFINITION
    • MARKETS COVERED
      • MARKET SEGMENTATION
      • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY
      • Table CURRENCY TABLE
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • SECONDARY AND PRIMARY RESEARCH
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • MARKET BREAKDOWN AND DATA TRIANGULATION
    • RESEARCH ASSUMPTIONS
  • EXECUTIVE SUMMARY
  • PREMIUM INSIGHTS
    • ATTRACTIVE OPPORTUNITIES IN THE IVA MARKET
    • NORTH AMERICA: IVA MARKET, BY INDUSTRY AND COUNTRY
    • IVA MARKET, BY TYPE
    • IVA MARKET, BY PRODUCT
    • IVA MARKET, BY GEOGRAPHY
  • MARKET OVERVIEW
    • INTRODUCTION
    • EVOLUTION OF THE MARKET: INTELLIGENT VIRTUAL ASSISTANT MARKET
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
  • INDUSTRY TRENDS
    • INTRODUCTION
    • VALUE CHAIN ANALYSIS
    • STARTUP SCENARIO
      • Table START-UP COMPANIES AND INVESTORS SCENARIO
  • INTELLIGENT VIRTUAL ASSISTANT MARKET, BY PRODUCT
    • INTRODUCTION
      • Table IVA MARKET, BY PRODUCT, 2014-2023 (USD MILLION)
    • CHATBOT
      • Table CHATBOT MARKET, BY DEPLOYMENT, 2014-2023 (USD MILLION)
      • Table CHATBOT MARKET, BY OFFERING, 2014-2023 (USD MILLION)
      • Table CHATBOT MARKET IN NORTH AMERICA, BY OFFERING, 2014-2023 (USD MILLION)
      • Table CHATBOTS MARKET IN EUROPE, BY OFFERING, 2014-2023 (USD MILLION)
      • Table CHATBOTS MARKET IN APAC, BY OFFERING, 2014-2023 (USD MILLION)
      • Table CHATBOTS MARKET IN ROW, BY OFFERING, 2014-2023 (USD MILLION)
      • Table CHATBOT MARKET IN NORTH AMERICA BY TYPE, 2014-2023 (USD MILLION)
      • Table CHATBOTS MARKET IN EUROPE BY TYPE, 2014-2023 (USD MILLION)
      • Table CHATBOTS MARKET IN APAC BY TYPE, 2014-2023 (USD MILLION)
      • Table CHATBOTS MARKET IN ROW, BY TYPE, 2014-2023 (USD MILLION)
      • CHATBOT MARKET BY DEPLOYMENT
        • Table STAND-ALONE CHATBOT MARKET, BY GEOGRAPHY, 2014-2023 (USD MILLION)
        • Table WEB-BASED CHATBOT MARKET, BY GEOGRAPHY, 2014-2023 (USD MILLION)
      • CHATBOT MARKET BY OFFERING
        • Table CHATBOTS SOFTWARE MARKET, BY GEOGRAPHY, 2014-2023 (USD MILLION)
        • Table CHATBOT SERVICES MARKET, BY GEOGRAPHY, 2014-2023 (USD MILLION)
    • IVA SMART SPEAKERS
      • Table IVA MARKET OF SMART SPEAKERS MARKET, BY GEOGRAPHY, 2014-2023 (USD MILLION)
      • Table IVA SMART SPEAKERS MARKET BY TYPE 2014-2023 (USD MILLION)
  • INTELLIGENT VIRTUAL ASSISTANT MARKET, BY USER INTERFACE
    • INTRODUCTION
      • Table IVA MARKET BY USER INTERFACE, 2014-2023 (USD MILLION)
      • Table IVA SMART SPEAKERS MARKET BY USER INTERFACE, 2014-2023 (USD MILLION)
      • Table CHATBOT MARKET BY USER INTERFACE, 2014-2023 (USD MILLION)
    • TEXT BASED
      • Table IVA MARKET FOR TEXT-BASED USER INTERFACE BY REGION, 2014-2023 (USD MILLION)
    • TEXT-TO-SPEECH-BASED
      • Table IVA MARKET FOR TEXT-TO-SPEECH BASED USER INTERFACE BY REGION, 2014-2023 (USD MILLION)
    • AUTOMATIC SPEECH RECOGNITION (ASR)
      • Table AUTOMATIC SPEECH RECOGNITION BASED IVA MARKET, BY REGION, 2014-2023 (USD MILLION)
    • OTHERS
      • Table IVA MARKET FOR OTHER TYPES OF USER INTERFACE BY REGION, 2014-2023 (USD MILLION),
  • INTELLIGENT VIRTUAL ASSISTANT MARKET, BY TYPE
    • INTRODUCTION
      • Table IVA MARKET BY TYPE, 2014-2023 (USD MILLION)
    • RULE-BASED
      • Table RULE-BASED IVA MARKET, BY REGION, 2014-2023 (USD MILLION)
    • CONVERSATIONAL AI-BASED
      • Table CONVERSATIONAL AI-BASED MARKET, BY REGION, 2014-2023 (USD MILLION)
  • INTELLIGENT VIRTUAL ASSISTANT MARKET, BY INDUSTRY
    • INTRODUCTION
      • Table IVA MARKET, BY INDUSTRY, 2014-2023 (USD MILLION)
    • CONSUMER ELECTRONICS
      • Table IVA MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2014-2023 (USD MILLION)
      • Table IVA MARKET OF SMART SPEAKERS, 2014-2023 (MILLION UNITS)
    • BFSI
      • Table IVA MARKET FOR BFSI, BY REGION, 2014-2023 (USD MILLION)
    • HEALTHCARE
      • Table IVA MARKET FOR HEALTHCARE, BY REGION, 2014-2023 (USD MILLION)
    • EDUCATION
      • Table IVA MARKET FOR EDUCATION, BY REGION, 2014-2023 (USD MILLION)
    • RETAIL
      • Table IVA MARKET FOR RETAIL, BY REGION, 2014-2023 (USD MILLION)
    • GOVERNMENT
      • Table IVA MARKET FOR GOVERNMENT, BY REGION, 2014-2023 (USD MILLION)
    • UTILITIES
      • Table IVA MARKET FOR UTILITIES, BY REGION, 2014-2023 (USD MILLION)
    • TRAVEL & HOSPITALITY
      • Table IVA MARKET FOR TRAVEL AND HOSPITALITY, BY REGION, 2014-2023 (USD MILLION)
    • OTHERS
      • Table IVA MARKET FOR OTHER INDUSTRIES, BY REGION, 2014-2023 (USD MILLION)
  • GEOGRAPHIC ANALYSIS
    • INTRODUCTION
      • Table IVA MARKET SIZE, BY REGION, 2014-2023 (USD MILLION)
      • Table CHATBOTS MARKET, BY REGION, 2014-2023 (USD MILLION)
      • Table IVA SMART SPEAKER MARKET BY REGION, 2014-2023 (USD MILLION)
      • Table IVA MARKET FOR SMART SPEAKERS BY REGION, 2014-2023 (MILLION UNITS)
    • NORTH AMERICA
      • Table NORTH AMERICA IVA MARKET SIZE, BY COUNTRY, 2014-2023 (USD MILLION)
      • Table IVA MARKET IN NORTH AMERICA, BY INDUSTRY, 2014-2023 (USD MILLION)
      • Table CHATBOTS MARKET IN NORTH AMERICA, BY USER INTERFACE, 2014-2023 (USD MILLION)
      • Table CHATBOT MARKET IN NORTH AMERICA, BY DEPLOYMENT, 2014-2023 (USD MILLION)
      • Table CHATBOT MARKET IN NORTH AMERICA, BY OFFERING, 2014-2023 (USD MILLION)
      • US
      • CANADA
      • MEXICO
    • EUROPE
      • Table IVA MARKET IN EUROPE, BY COUNTRY, 2014-2023 (USD MILLION)
      • Table IVA MARKET IN EUROPE, BY INDUSTRY, 2014-2023 (USD MILLION)
      • Table CHATBOT MARKET IN EUROPE, BY USER INTERFACE, 2014-2023 (USD MILLION)
      • Table CHATBOT MARKET IN EUROPE, BY DEPLOYMENT, 2014-2023 (USD MILLION)
      • Table CHATBOT MARKET IN EUROPE, BY OFFERING, 2014-2023 (USD MILLION)
      • GERMANY
      • FRANCE
      • UK
      • REST OF EUROPE
    • ASIA PACIFIC
      • Table IVA MARKET IN ASIA PACIFIC, BY COUNTRY, 2014-2023 (USD MILLION)
      • Table IVA MARKET IN ASIA PACIFIC, BY INDUSTRY, 2014-2023 (USD MILLION)
      • Table CHATBOT MARKET IN ASIA PACIFIC, BY USER INTERFACE, 2014-2023 (USD MILLION)
      • Table CHATBOT MARKET IN ASIA PACIFIC, BY DEPLOYMENT, 2014-2023 (USD MILLION)
      • Table CHATBOT MARKET IN ASIA PACIFIC, BY OFFERING, 2014-2023 (USD MILLION)
      • JAPAN
      • CHINA
      • AUSTRALIA
      • INDIA
      • REST OF APAC
    • ROW
      • MIDDLE EAST AND AFRICA
      • SOUTH AMERICA
        • Table IVA MARKET IN ROW, BY REGION, 2014-2023 (USD MILLION)
        • Table IVA MARKET IN ROW, BY INDUSTRY, 2014-2023 (USD MILLION)
        • Table ROW CHATBOT MARKET, BY USER INTERFACE, 2014-2023 (USD MILLION)
        • Table ROW CHATBOT MARKET, BY DEPLOYMENT, 2014-2023 (USD MILLION)
        • Table ROW CHATBOT MARKET, BY OFFERING 2014-2023 (USD MILLION)
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • MARKET RANKING ANALYSIS, 2016
      • Table RANKING OF THE KEY PLAYERS IN THE IVA MARKET 2016.
    • COMPETITIVE SCENARIO AND TRENDS
      • PRODUCT LAUNCHES
        • Table PRODUCT LAUNCHES, 2015-2017
      • ACQUISITIONS
        • Table ACQUISITIONS, 2015-2017
      • PARTNERSHIPS/COLLABORATIONS/AGREEMENTS
        • Table PARTNERSHIPS/COLLABORATIONS/AGREEMENTS, 2014
  • COMPANY PROFILES
    • MICROSOFT
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • NUANCE COMMUNICATIONS
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • SAMSUNG ELECTRONICS
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • ALPHABET
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • APPLE
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • AMAZON
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • INTERNATIONAL BUSINESS MACHINES (IBM)
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
    • BAIDU
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • BLACKBERRY
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • INBENTA TECHNOLOGIES
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • INNOVATORS
      • FACEBOOK
      • COGNITIVE CODE
      • ARTIFICIAL SOLUTIONS
      • UNIFIED COMPUTER INTELLIGENCE
      • MYCROFT AI
  • APPENDIX
    • INSIGHTS FROM INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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