Dublin, May 17, 2018 (GLOBE NEWSWIRE) -- The "Intelligence Virtual Assistant Market: Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023" report has been added to ResearchAndMarkets.com's offering.

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.

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.

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.

Key Topics Covered:

1 Industry Outlook
1.1 Industry Overview
1.2 Industry Trends
1.3 Pest Analysis

2 Report Outline
2.1 Report Scope
2.2 Report Summary
2.3 Research Methodology
2.4 Report Assumptions

3 Market Snapshot
3.1 Total Addressable Market
3.2 Segmented Addressable Market

4 Market Outlook
4.1 Overview
4.2 Porter 5 (Five) Forces

5 Market Characteristics
5.1 Evolution
5.2 Ecosystem
5.3 Market Segmentation
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Demand For Data-Driven Solutions
5.4.1.2 Increasing Usage In Market Risk And Fraud Detection
5.4.1.3 Increasing Usage Of Technologies In The Bfsi Industry
5.4.1.4 Demand For Technology-Driven Customer Services
5.4.2 Restraints
5.4.2.1 Excessive Cost Of Ownership
5.4.2.2 Unskilled Human Resources
5.4.3 Opportunities
5.4.3.1 Understanding Human Emotions
5.4.3.2 Developing Smarter Robots
5.5 DRO - Impact Analysis
5.6 Market Trends

6 User Types: Market Size And Analysis
6.1 Overview
6.2 Enterprise Iva
6.3 Consumer Iva

7 Industry: Market Size And Analysis
7.1 Overview
7.2 Retail
7.3 Healthcare
7.4 Telecommunications
7.5 Bfsi
7.6 Automotive
7.7 Media & Entertainment

8 Regions: Market Size And Analysis

9 Vendors Profile
9.1 Google Inc.
9.2 Microsoft Corporation
9.3 Hewlett Packard Enterprise
9.4 Apple Inc.

10 Companies To Watch For
10.1 Ipsoft Inc.
10.2 Brighterion, Inc.
10.3 Inbenta Technologies Inc.
10.4 Narrative Science
10.5 Quandl Inc.

11 Mergers & Acquisitions

12 Competitive Landscape
12.1 Competitor Comparison Analysis

For more information about this report visit https://www.researchandmarkets.com/research/d2hjj3/global?w=12

CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Artificial Intelligence