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Intelligent Virtual Assistant Market – Industry Analysis and Fancy Forecasts

20+ years back, scientists had turned living rats into remote-controlled, pleasure-driven robots which can be guided up ladders, through ruins and into minefields at the click of a key. The project funded by US military’s research arm, Darpa, was partly inspired by the September 11 terrorist attacks on the US, and partly by an earthquake in India in 2001. Animals had been used by humans in combat and in search and rescue, but not under direct computer-to-brain electronic control which we have renamed with some fancy works like AI / Machine Learning etc… The advent of surgically altered roborats marks the crossing of a new boundary in the mechanisation, and potential militarisation, of nature.

“Is it possible, objectively? I would imagine, if anybody hiding in penta or vesta bunkers wanted to do something as absurd as that. Surveillance is pretty straightforward, although for these sort of operations you could use robots. You could apply this to birds … if you could fit birds with sensors and cameras.”

Now from capital investment viewpoint, some Intelligent Virtual Assistant Market report claims analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupting revolts. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

Asia Pacific Intelligent Virtual Assistant Market, hail Google Alexa folks?

A virtual assistant, also known as AI assistant or digital assistant, is an application platform that understands normal language voice commands and completes tasks for the user. Virtual assistants are also contrasted with an alternative type of consumer-facing AI programming, known as smart advisers. Smart adviser programs are subject-oriented, making virtual assistants more task-oriented. Virtual assistants are usually cloud-based programs that need internet-connected devices and applications to work.

Marketed as Google Assistant / Alexa type of data trading models, Intelligent virtual assistant market is segmented on the basis of product, type, user interface, industry, and geography. Based on product, the market comprises of chatbots and IVA smart speakers. By type, the market includes rule based, and conversational AI (artificial intelligence) based segments. Considering the user interface segment, the text based, text-to-speech, automatic speech recognition (ASR), and others are considered within the scope. Consumer electronics, BFSI, government, retail, utilities, healthcare, education, travel and hospitality among others are the different industries that are targets.

Technologies powering virtual assistants need massive amounts of looted data that feeds artificial intelligence (AI) platforms, consisting of machine learning, natural language processing and speech recognition platforms. Virtual assistants are rapidly evolving to deliver more capabilities and significance to users. As speech recognition and normal language processing advances, it will enhance virtual assistant’s ability to understand as well as perform requests. With improvement in voice recognition technology virtual assistant use will further deepen the business workflows.

Huawei in China, is apparently one such company that is looking to work on this untapped market by making its own virtual assistant specifically for China market. There are numerous international Huawei products that assimilate either Google Assistant or Alexa, but different from the versions sold in Chinese markets.

Virtual assistant solutions are extensively used in the BFSI sector that has seen huge growth. Owing to the faster response time, upgraded customer treatment and higher customer satisfaction have posed the market for virtual assistant in the BFSI sector. However, consumer electronics segment would witness one of the fastest growth during the forecast period. The growth would be mostly driven by the fast growing infotainment systems in mobiles and tablets. All these will together support in boosting the market growth of intelligent virtual assistants.

Key Highlights:

• Intelligent Virtual Assistant market size analysis and forecast
• Comprehensive study and analysis of market drivers, restraints, and opportunities influencing growth of the Intelligent Virtual Assistant market
• Intelligent Virtual Assistant market segmentation on the basis of type, product, user interface, industry, and geography
• Intelligent Virtual Assistant market strategic analysis with respect to individual growth trends, future prospects along with contribution of various sub-market stakeholders have been considered under the scope of study
• Intelligent Virtual Assistant market analysis and forecast for major countries has been provided.
• Profiling of key industry players, their strategic perspective, market positioning and analysis of core competencies
• Competitive landscape of the key players operating in the Intelligent Virtual Assistant market including competitive developments, investments, and strategic expansion

Some of the key smarties of Intelligent Virtual Assistant market include:

• Microsoft
• Samsung Electronics
• Apple
• International Business Machines (IBM)
• Nuance Communications
• Alphabet
• Amazon
• Facebook
• Huawei
• Baidu
• Artificial Solutions
• Cognitive Code
• Sinostep
• Alibaba
• Tomoyo S
• Brickwork India
• Habiliss
• Task Barge
• Acelerar
• AskSunday
• Hubstaff Talent

Key Target Audience:

• Research and Consulting Firms as well as Venture capitalists, private equity firms, and startup companies
• IVA module designers and manufacturers
• Associations, forums, and alliances related to intelligent virtual assistant
• Investors
• Start-up companies
• Raw material suppliers
• Market research and consulting firms
• Government and regulatory authorities

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