Intelligence Virtual Assistant Market: Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023

  • Product Code:
    RP-ID-10078074
  • Published Date:
    Mar 2019
  • Region:
    Global
  • Pages:
    93
  • Category:
    ICT & Telecom
  • Publisher:
    Infoholic Research
Global Intelligence Virtual Assistant Market: Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023
Overview:
Intelligence Virtual Assistant (IVA) has become a new trend among smartphone users and enterprises across the globe. The increase in the smartphone and internet penetration worldwide is fostering the demand for virtual assistants. The low barriers to enter into this market is a key driver for tech vendors operating in this domain. The IVA market is largely focusing on consumer centric businesses such as, connected cars, retail, financial services and others.
Market Revenue and Segmentation Analysis:
The global IVA market revenue was estimated to be $2.54 billion in 2017 and is expected to reach $25.23 billion by 2023, growing at a CAGR of 46.6% during the forecast period 2017–2023.

The user types include Enterprise IVA and Consumer IVA. The enterprise IVAs are expected to grow at a content rate compared to consumer IVAs. The enterprise IVAs in 2018 are focusing on understanding online shopping habits of consumers which could drive app builders and businesses to enter the mobile-commerce market place. Both, Enterprise and Consumer IVAs are largely being built on social media platforms such as, Facebook Messenger, Twitter, Skype for Business, Microsoft Teams and WhatsApp. The consumer IVAs are expected to grow at 89.8% CAGR through the forecast period owing to the increasing AI-powered mobile commerce apps.

The market is analyzed by industries. The industries mentioned in the report are Retail, Healthcare, Telecommunications, BFSI, Automotive, Media & Entertainment and others. BFSI is the leading consumer of both consumer and enterprise IVAs followed by retail, healthcare and others. These three industries are expected to witness high degrees of innovations in terms of IVA functionalities and user-friendliness. The increasing mobile commerce penetration, personal financial assistance, and personalized healthcare are the focus areas for businesses. The BFSI industry is expected to adopt IVAs at 50.5% CAGR through 2023 to reach a $9.98 billion market.

Regions Analysis:
The regions covered in the report are the Americas, Europe, APAC and MEA. The Americas is expected to grow at a 49.1% CAGR during the forecast period 2017–2023. The US, the UK, Canada, France and Brazil are expected to become the leading adopters of IVAs through the forecast period.
Benefits and Vendors
The report contains an in-depth analysis of vendor profiles, which include their financial health, business units, key business priorities, SWOT, strategies, and views and competitive landscape. Google, Microsoft, HP, Apple, Psoft Inc., Brighterion Inc., Inbenta Technologies Inc., Narrative Science and Quandl Inc, are some companies profiled in the report.
The study offers a comprehensive analysis of the “Global Intelligence Virtual Assistant Market” market. Bringing out the key insights of the industry, the report aims to provide an opportunity for companies to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and take informed decisions.

Table of Contents
1 Industry Outlook 8
1.1 Industry Overview 8
1.2 Industry Trends 9
1.3 PEST Analysis 10
2 Report Outline 11
2.1 Report Scope 11
2.2 Report Summary 12
2.3 Research Methodology 13
2.4 Report Assumptions 14
3 Market Snapshot 15
3.1 Total Addressable Market 15
3.2 Segmented Addressable Market 16
4 Market Outlook 17
4.1 Overview 17
4.2 Porter 5 (Five) Forces 18
5 Market Characteristics 19
5.1 Evolution 19
5.2 Ecosystem 20
5.3 Market Segmentation 21
5.4 Market Dynamics 22
5.4.1 Drivers 23
5.4.1.1 Demand for data-driven solutions 23
5.4.1.2 Increasing usage in market risk and fraud detection 23
5.4.1.3 Increasing usage of technologies in the BFSI industry 23
5.4.1.4 Demand for technology-driven customer services 23
5.4.2 Restraints 24
5.4.2.1 Excessive cost of ownership 24
5.4.2.2 Unskilled human resources 24
5.4.3 Opportunities 24
5.4.3.1 Understanding human emotions 24
5.4.3.2 Developing smarter robots 24
5.5 DRO – Impact Analysis 24
5.6 Market Trends 26
6 User Types: Market Size and Analysis 27
6.1 Overview 27
6.2 Enterprise IVA 27
6.3 Consumer IVA 29
7 Industry: Market Size and Analysis 31
7.1 Overview 31
7.2 Retail 36
7.3 Healthcare 36
7.4 Telecommunications 37
7.5 BFSI 38
7.6 Automotive 39
7.7 Media & Entertainment 40
8 Regions: Market Size and Analysis 42
8.1 Overview 42
8.2 Americas 43
8.2.1 US 44
8.2.2 Canada 45
8.2.3 Brazil 46
8.2.4 Mexico 47
8.3 Europe 48
8.3.1 UK 50
8.3.2 France 51
8.3.3 Germany 51
8.3.4 Italy 52
8.3.5 Spain 53
8.3.6 Nordic Region 54
8.4 Asia Pacific 55
8.4.1 China 56
8.4.2 Japan 57
8.4.3 South Korea 58
8.4.4 Australia and New Zealand 59
8.4.5 Southeast Asia 60
8.4.6 India 61
8.5 Middle East & Africa 63
8.5.1 Saudi Arabia 56
8.5.2 South Africa 57
8.5.3 UAE 58
8.5.4 Turkey 59
8.5.5 Egypt 60
9 Vendors Profile 65
9.1 Google Inc. 65
9.1.1 Overview 65
9.1.2 Business Units 66
9.1.3 Geographic Revenue 66
9.1.4 Business Focus 67
9.1.5 SWOT Analysis 67
9.1.6 Business Strategies 68
9.2 Microsoft Corporation 69
9.2.1 Overview 69
9.2.2 Business Focus 70
9.2.3 SWOT Analysis 70
9.2.4 Business Strategies 71
9.3 Hewlett Packard Enterprise 71
9.3.1 Overview 71
9.3.2 Business Units 72
9.3.3 Geographic Revenue 73
9.3.4 Business Focus 73
9.3.5 SWOT Analysis 73
9.3.6 Business Strategies 74
9.4 Apple Inc. 74
9.4.1 Overview 74
9.4.2 Business Units 75
9.4.3 Geographic Revenue 77
9.4.4 Business Focus 78
9.4.5 SWOT Analysis 78
9.4.6 Business Strategies 79
10 Companies to Watch for 79
10.1 IPsoft Inc. 79
10.1.1 Overview 79
10.1.2 Offerings: 80
10.2 Brighterion, Inc. 80
10.2.1 Overview 80
10.2.2 Offerings: 80
10.3 Inbenta Technologies Inc. 81
10.3.1 Overview 81
10.3.2 Offerings: 81
10.4 Narrative Science 81
10.4.1 Overview 81
10.4.2 Offerings: 82
10.5 Quandl Inc. 82
10.5.1 Overview 82
10.5.2 Offerings: 82
11 Mergers & Acquisitions 83
12 Competitive Landscape 87
12.1 Competitor Comparison Analysis 87
Annexure 92
Abbreviations 92

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Google, Microsoft, HP, Apple, Psoft Inc., Brighterion Inc., Inbenta Technologies Inc., Narrative Science and Quandl Inc
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