What is Text-based Intelligent Virtual Assistant?
Text-based Intelligent Virtual Assistant is the artificial intelligence system that imitates human interaction in text form to perform certain tasks such as customer service in the telecommunication industry. This technology is rapidly growing because of its deep neural network, machine learning, and various other advanced technologies in AI.
The market study is broken down by Type (Chatbots and IVA Smart Speakers), by Application (Personal, Enterprise and Goverment) and major geographies with country level break-up.
Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Google (United States), Inbenta (United States), IBM (United States), Microsoft Corporation (United States), Apple Inc. (United States), Nuance Communications (United States), Concentrix (United States), Vodafone Group plc (United Kingdom), Pegasystems Inc (United States) and SOVA (Russia) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Text-based Intelligent Virtual Assistant market by Type, Application and Region.
On the basis of geography, the market of Text-based Intelligent Virtual Assistant has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Platform, the sub-segment i.e. Smartphones will boost the Text-based Intelligent Virtual Assistant market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Verticals, the sub-segment i.e. Consumer Electronics will boost the Text-based Intelligent Virtual Assistant market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Cloud-based will boost the Text-based Intelligent Virtual Assistant market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
On 1st May 2020, Telecom operator Vodafone Idea announced the launch of VIC – an artificial intelligence-powered digital customer service and support virtual assistant for its customers. It is now live on the company websites, My Vodafone and My Idea Apps, and on one of the most popular messaging app, WhatsApp.
Market Trend
- Increasing Use of Cloud-based Programs for Text-based Intelligent Virtual Assistant
- The popularity of Text-based Intelligent Virtual Assistant used in Smartphones
Market Drivers
- Growing Demand for the Automation in Every Industry with the Digitalization
- Demand for Automation and Intelligent Virtual Assistants in Organisation for Daily Operation to Reduce Human Errors ad Increase Efficiency
Opportunities
- Growing Penetration Network Connectivity Throughout the World
- Surging Research and Development in Artificial Intelligence Technology
Restraints
- Increasing Adoption of Voice-based Intelligent Virtual Assistant
- Risk of Cyber Vulnerabilities with Text-based Intelligent Virtual Assistant
Challenges
- Platform Supportability Issues with Text-based Intelligent Virtual Assistant
Key Target Audience
Text-based Intelligent Virtual Assistant Developers, Text-based Intelligent Virtual AssistantIndustry Associations, Regulatory Bodies, Research ad Development Institutes, Potential Investors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.