Market Research Reports

Intelligent Virtual Assistant Market (By Technology - Text-to-Speech, Speech Recognition; By End User - Individual Users, Small and Medium Enterprise Users, Large Enterprise Users) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

66pages
Published Date: 2014-07-02
 

Description


Intelligent virtual assistant acts as primary interface between digital data and customers. Today, most of the websites place burden on end users to find answers to their queries. If end users are not able to find relevant information, they usually abandon the search and contact live customer service representatives. Companies need cost effective way to effectively and efficiently respond to customer needs. Hence, most of the companies are turning to interactive online channels such as intelligent virtual assistants and web chats. Additionally, with growth in information and increase in focus on improving relationship with customers online, the market for virtual assistants is expected to grow.

The goal of this study is to find, analyze and provide growth forecast for the intelligent virtual assistant market by technology, end user and geography. The research report provides an in-depth analysis of the global intelligent virtual assistants market based on types of technology, end users and geographies for the period 2013 to 2019. It provides an absolute view of major drivers, restraints and opportunities for popularity and growth of intelligent virtual assistants.

The intelligent virtual assistant market is classified into technology and end users. The key technologies of intelligent virtual assistant market include text-to-speech and speech recognition. However, speech recognition technology is expected to grow at faster rate during forecast period due to growing preference of intuitive and interactive communication. A detailed market analysis and forecast for these segments has been provided in this study, in terms of market revenue (USD million) for the period 2012 to 2019. The market revenue has been forecast for the period 2013 to 2019, considering 2012 as the base year.

The various end users of this market include individual users, small and medium enterprise users, and large enterprise users. A thorough market analysis and forecast for these segments has been provided in this study, regarding of market revenue (USD million) for the period 2012 to 2019. The market revenue has been forecast for the period 2013 to 2019, considering 2012 as the base year

In terms of geographical distribution, the global intelligent virtual assistant market is categorized into four regions, namely, North America, Europe, Asia-Pacific and Rest of the World (RoW). This section includes market revenue (2012 – 2019) and forecast (2013 – 2019) for the technology and end users markets in each regional market, in terms of USD million. The study further offers recommendations and highlights of the market, which would be useful for the present and new market players to sustain and grow in the global intelligent virtual assistant market. 

The report covers profiles of major players in the market, business strategies followed by them and recent developments. Major players profiled include NextIT Corp., Creative Virtual Ltd., VirtuOz Inc., Anboto Group., CodeBaby Corp., IntelliResponse Systems Inc., Nuance Communications Inc., SpeakToit Inc., Artificial Solutions UK Ltd., eGain Communications Corp.

The report enhances the understanding of the market by highlighting the competitive situation across different levels of Porter’s five forces analysis. Additionally, value chain analysis has been explained in order to give thorough analysis of the overall competitive scenario in global intelligent virtual assistant market. Overall, the report provides a detailed analysis of the global intelligent virtual assistant market along with the forecast in terms of revenue (USD million) for all the segments from 2013 to 2019.

The global intelligent virtual assistant market is segmented into three main categories: by technology, end user and geography –
  • Intelligent Virtual Assistant Market, by Technology
    • Text-to-speech
    • Speech recognition
  • Intelligent Virtual Assistant Market, by End User
    • Individual users
    • Small and medium enterprise users
    • Large enterprise users
  • Intelligent Virtual Assistant Market, by Geography
    • North America
    • Europe
    • Asia Pacific
    • Rest of the World (RoW)

Table of Contents



Chapter 1 Global Intelligent Virtual Assistant Market
1.1 Report description and scope
1.2 Research methodology
      1.2.1 Key data points from secondary sources
      1.2.2 Key data points from primary source
      1.2.3 Models

Chapter 2 Executive Summary
2.1 Snapshot for Intelligent virtual assistant market

CHAPTER 3 Global Intelligent Virtual Assistant Market Analysis
3.1 Introduction
3.2 Market dynamics
      3.2.1 Drivers
               3.2.1.1 Increasing data explosion
               3.2.1.2 Increasing focus on improving alignment between customer
      3.2.2 Restraints
               3.2.2.1 Cost and complexity of software and lack of skilled resources
      3.2.3 Opportunities
               3.2.3.1 Growing application areas
3.3 Market trends and future outlook, 2013 – 2019
3.4 Value chain analysis
3.5 Porter’s five force analysis
      3.5.1 Bargaining power of suppliers
      3.5.2 Bargaining power of buyers
      3.5.3 Rivalry among existing competitors
      3.5.4 Threat of new entrants
      3.5.5 Threat from substitutes
3.6 Market share analysis
      3.6.1 Market shares of major players, 2013 (value %)
      3.6.2 Competitive strategies adopted by major players

Chapter 4 Intelligent Virtual Assistant Market Analysis, By Technology 2013 – 2019
4.1 Overview
4.2 Text-to-speech
4.3 Speech recognition

Chapter 5 Intelligent Virtual Assistant Market Analysis, By End Users 2013 – 2019
5.1 Overview
5.2 Individual users
5.3 Small and medium enterprise
5.4 Large enterprise

Chapter 6 Intelligent Virtual Assistant Market Analysis, By Geography 2013 – 2019
6.1 Overview
6.2 North America
      6.2.1 North America intelligent virtual assistant market size and forecast, by technology, 2012 – 2019
      6.2.2 North America intelligent virtual assistant market size and forecast, by end users, 2012 – 2019
6.3 Europe
      6.3.1 Europe intelligent virtual assistant market size and forecast, by technology, 2012 – 2019
      6.3.2 Europe intelligent virtual assistant market size and forecast, by end user, 2012 – 2019
6.4 Asia Pacific
      6.4.1 Asia Pacific intelligent virtual assistant market size and forecast, by technology, 2012 – 2019
      6.4.2 Asia Pacific intelligent virtual assistant market size and forecast, by end user, 2012 – 2019
6.5 Rest of the World (RoW)
      6.5.1 RoW intelligent virtual assistant market size and forecast, by technology, 2012 – 2019
      6.5.2 RoW intelligent virtual assistant market size and forecast, by end user, 2012 – 2019

Chapter 7 Company Profiles
7.1 NextIT Corp.
      7.1.1 Company overview
      7.1.2 Financial overview
      7.1.3 Business strategies
      7.1.4 Recent developments
7.2 Creative Virtual Ltd.
      7.2.1 Company overview
      7.2.2 Financial overview
      7.2.3 Business strategies
      7.2.4 Recent developments
7.3 Anboto Group.
      7.3.1 Company overview
      7.3.2 Financial overview
      7.3.3 Business strategies
7.4 CodeBaby Corp.
      7.4.1 Company overview
      7.4.2 Financial overview
      7.4.3 Business strategies
      7.4.4 Recent developments
7.5 IntelliResponse Systems Inc.
      7.5.1 Company overview
      7.5.2 Financial overview
      7.5.3 Business strategies
      7.5.4 Recent developments
7.6 Nuance Communications Inc.
      7.6.1 Company overview
      7.6.2 Financial overview
      7.6.3 Business strategies
      7.6.4 Recent developments
7.7 SpeakToit Inc.
      7.7.1 Company overview
      7.7.2 Financial overview
      7.7.3 Business strategies
      7.7.4 Recent developments
7.8 Artificial Solutions Ltd.
      7.8.1 Company overview
      7.8.2 Financial overview
      7.8.3 Business strategies
      7.8.4 Recent developments
7.9 eGain Communications Corp.
      7.9.1 Company overview
      7.9.2 Financial overview
      7.9.3 Business strategies
      7.9.4 Recent developments

List of Figures 

FIG. 1 Market segmentation: Global Intelligent Virtual Assistant market
FIG. 2 Customer expectations of online relationship management
FIG. 3 Working of virtual assistant
FIG. 5 Porter’s five forces analysis
FIG. 6 Global intelligent virtual assistant market, market share by major players, 2013 (%)
FIG. 7 Global intelligent virtual assistant market size, by technology, 2012 and 2019 (%)
FIG. 8 Global text-to-speech intelligent virtual assistant, by technology, 2012 - 2019 (USD million)
FIG. 9 Global speech recognition intelligent virtual assistant market size and forecast, 2012 - 2019 (USD million)
FIG. 10 Global intelligent virtual assistant market share, by end users, 2012 and 2019 (%)
FIG. 11 Global individual users intelligent virtual assistant market size and forecast, 2012 - 2019 (USD million)
FIG. 12 Global small and medium enterprise intelligent virtual assistant market size and forecast, 2012 - 2019 (USD million)
FIG. 13 Global large enterprise intelligent virtual assistant market size and forecast, 2012 - 2019 (USD million)
FIG. 14 Global intelligent virtual assistant market share, by end users, 2012 and 2019 (%)
FIG. 15 North America intelligent virtual assistant market size and forecast, 2012 - 2019 (USD million)
FIG. 16 Buying behavior and trends of consumer in UK
FIG. 17 Europe intelligent virtual assistant market size and forecast, 2012 - 2019 (USD million)
FIG. 18 Purchase behavior in Asia Pacific
FIG. 19 Asia Pacific intelligent virtual assistant market size and forecast, 2012 - 2019 (USD million)
FIG. 20 RoW intelligent virtual assistant market size and forecast, 2012 - 2019 (USD million)
FIG. 21 Nuance Communications Inc.: Annual revenue, 2010 – 2012 (USD million)
FIG. 22 eGain Communications Corp.: Annual revenue, 2011 – 2013 (USD million)

List of Tables

TABLE 1 Global intelligent virtual assistant market snapshot
TABLE 2 Internet penetration (Internet users per hundred of population)
TABLE 3 North America intelligent virtual assistant market size and forecast, by technology, 2012 – 2019
TABLE 4 North America intelligent virtual assistant market size and forecast, by end users, 2012 – 2019
TABLE 5 Europe intelligent virtual assistant market size and forecast, by technology, 2012 – 2019
TABLE 6 Europe intelligent virtual assistant market size and forecast, by end user, 2012 – 2019
TABLE 7 Asia Pacific intelligent virtual assistant market size and forecast, by technology, 2012 – 2019
TABLE 8 Asia Pacific intelligent virtual assistant market size and forecast, by end user, 2012 – 2019
TABLE 9 RoW virtual assistant market size and forecast, by technology, 2012 – 2019
TABLE 10 RoW intelligent virtual assistant market size and forecast, by end user, 2012 – 2019

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Free Market Analysis


Intelligent virtual assistant acts as a new type of mobility solution and business communication where internet and speech goes together. As intelligent virtual assistants are increasingly entering mobility market, many organizations are increasing the usage of virtual assistant on their websites. As enterprises seek to improve productivity in business operations and administration, digital workforce is expected to replace human workers. Additionally, growing need of effective and reliable means to reduce expense is expected to increase the demand of intelligent virtual assistant market.

Customer self service is the key area of technology innovation. With key technologies such as text-to-speech and speech recognition software, speech recognition in call center and knowledge management in customer self service area is replacing labor intensive interactions. Intelligent virtual assistant technology has been developed for long period of time. Due to recent developments interactive communication with the help of software, many small and large scale enterprises have adopted the usage of virtual assistants. Different users of intelligent virtual assistant include individual users, small and medium enterprises and large enterprises. Large enterprises accounted for largest share in the global intelligent virtual assistant market in 2012. Intensive business competition has led to increased adoption of intelligent virtual assistant by large enterprise.

Geographically, North America held the largest share of around 40% in 2012 in global intelligent virtual assistant market. This dominance is attributed to shift in consumer preference and proliferation of mobile devices and smartphones. With increased focus on technological investments, Asia Pacific region is expected to show strong growth over the forecast period for acceptance of intelligent virtual assistant solutions.

intelligent-virtual-assistant-market

The global intelligent virtual assistant market is fragmented in nature and large number of global and local players such as NextIT Corp., Creative Virtual Ltd., VirtuOz Inc., Anboto Group., CodeBaby Corp., IntelliResponse Systems Inc., dominate the market space. Other important players in the market include Nuance Communications Inc., SpeakToit Inc., Artificial Solutions UK Ltd., and eGain Communications Corp among others.
 

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