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Written by Ravinder » Updated on: November 19th, 2024
IMARC Group’s latest research report, titled “Intelligent Virtual Assistant (IVA) Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” provides an extensive analysis of the industry, including intelligent virtual assistant market forecast. The report also covers competitor and regional analysis and the latest advancements in the global market.
The global intelligent virtual assistant market size reached US$ 10.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 99.9 Billion by 2032, exhibiting a growth rate (CAGR) of 27.4% during 2024-2032.
Intelligent Virtual Assistant (IVA) Market Overview:
An intelligent virtual assistant (IVA) is an advanced software application designed to simulate conversation with human users, primarily over the internet. These virtual assistants use artificial intelligence (AI) technologies, including natural language processing (NLP) and machine learning (ML), to understand and respond to user queries in a human-like manner. IVAs are increasingly becoming integral to customer service operations, offering instant, 24/7 assistance to users for a wide range of tasks. The adoption of IVAs allows businesses to enhance customer experience, improve service efficiency, and reduce operational costs. By handling routine inquiries, IVAs free up human agents to focus on more complex issues, ensuring that customer service resources are optimally utilized.
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Global Intelligent Virtual Assistant Market Trends:
The continual advancements in artificial intelligence (AI) and machine learning technologies are driving the global market. This technological evolution has significantly enhanced user experiences, making IVAs more intuitive and effective in handling complex tasks. Moreover, the widespread adoption of smartphones and the internet has facilitated easy access to IVAs across various platforms, including mobile apps, websites, and smart home devices. This ubiquity of access points has propelled the demand for IVAs as consumers seek convenient and immediate solutions to their inquiries and tasks. Furthermore, the COVID-19 pandemic has accelerated the shift towards digital platforms, with businesses and consumers alike relying more heavily on digital interactions. IVAs have emerged as a critical tool in managing increased online customer service requests, providing 24/7 support without the need for physical presence.
Top Companies in Global Intelligent Virtual Assistant Industry:
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Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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