Intelligent virtual assistant is a next generation software solution that enables user interaction with PC, mobile through internet, SMS, messenger and other interfaces. Intelligent virtual market has a significant demand across various industry for the features they are offering such as responding efficiently to consumer queries in a cost-effective manner. Virtual assistants can take on multiple roles on a website, such as answering customer questions, performing various helpful tasks and connecting to enterprise systems when needed. Intelligent Virtual Assistant technology provides features such as the ability to recognize different languages and respond via voice or text and interaction in natural languages.

Intelligent Virtual AssistantMarket: Drivers and Challenges

Advancement of natural language processing and artificial intelligence technologies drive the virtual assistance market because these technologies help to process large amount of data and solve the consumer queries on real-time basis. Changing customer approach towards enterprises needs the customer centric platform that increases the demand for intelligence virtual assistant market.

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In Contrast to this, complexity in understanding the user objectives and difficulty in integration of knowledge base of intelligent Virtual Assistant and enterprise is restraining the growth of Intelligent Virtual Assistant Market.

Intelligent Virtual Assistant Market: Segmentation

Segmentation on the basis of technology:

Text-to-Speech

Speech Recognition

Voice Recognition

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Segmentation on the basis of industry:

BFSI

Healthcare

Retail

Automotive

Defense and Government

Others

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Intelligent Virtual Assistant Market: key players

Some of the key players for Intelligent Virtual Assistant Market are Next IT Corporation, Nuance Communications, Inc., IntelliResponse Systems, Inc., CodeBaby Corporation, Creative Virtual Ltd., Speaktoit, Inc., Artificial Solutions, eGain Corporation, CX Company and Anboto Group.