Intelligent Virtual Assistant Market size to grow at 34.9% CAGR from 2016 to 2024: Global Market Insights Inc. Intelligent Virtual Assistant Market size is expected to exceed USD 11 billion by 2024; according to a new research report by Global Market Insights, Inc. Growing focus on customer engagement to enhance user experience is expected to drive the intelligent virtual assistant market size in the future. Virtual assistants are deployed in mobile devices, enterprise websites, and social media that enable them to have constant communication with clients. For instance, companies install them to provide brand or product information to clients. In addition, it helps in promotions by asking new users to sign in to the company's loyalty account. Customer engagement solutions emphasize on providing enhanced direct experience and help companies to increase revenue and improve customer satisfaction and retention.
Growing focus on streamlining business activities to lower the overall operating cost will also propel the intelligent virtual assistant market size. IVAs have application across several business processes such as interviewing, employee training and advertising that allow enterprises to minimize the cost. With the help of smartphones and other mobile devices, tasks such as checking in with staff, location based reminders, searching through emails, and scheduling meetings makes the work life of the employee more efficient. Thus, the increasing penetration of mobile devices is expected to provide a fillip to the intelligent virtual assistant market share. U.S. Intelligent Virtual Assistant (IVA) Market size, by application, 2013-2024 (USD Million)
1|Page