San Francisco, Dec. 17, 2015 (GLOBE NEWSWIRE) -- The global intelligent virtual assistant market is expected to reach USD 3.07 billion by 2020, according to a new study by Grand View Research, Inc. High emphasis on efficient customer interaction assisted by virtual assistants is estimated to fuel demand. Growing need to manage huge data particularly in large enterprises is anticipated to escalate growth over the forecast period.
The industry is poised for growth owing to increasing demand across several application areas including travel, utilities and telecommunication sector. Intelligent virtual assistant offer benefits such as the ability to organize and maintain information. Rising popularity of interactive online channels coupled with the growing need for cost effective ways to effectively and efficiently respond to customer needs is expected to offer avenues for industry growth. Increasing adoption across several end-use sectors including healthcare, e-commerce and BFSI may also offer potential opportunities for industry participants. Lack of standardization and awareness among end users may hinder product demand over the coming years.
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Further Key findings from the study suggest:
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Grand View Research has segmented the global intelligent virtual assistant market on the basis of end-use and region:
Intelligent Virtual Assistant End-Use Outlook (Revenue, USD Million, 2012 – 2020)
Intelligent Virtual Assistant Regional Outlook (Revenue, USD Million, 2012 – 2020)
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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