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In 2012, Major driving market for Intelligent Virtual Assis tant was dominant consumers
which contributed for around 80% of the global market. Markets forecast for small and
medium companies are expected to be positive, with adoption rates that are expected
to increase considerably in next few years. The market of Intelligent Virtual Assistant
market is likely to grow at CAGR around 30% till 2020.Big companies are anticipated to
continue for majority market share, driven by increasing focus on customer satisfaction.
For ensuring the user engagement and offering real –time, for revenue generation,
personalized support is crucial.
In 2012, North America contributed for over 40% of the market globally, is likely to
remain the major segment in next few years. Emerging economies are likely to witness
high demand; Asia Pacific is expected to grow rapidly over the forecast period. Major
Industry participants serve industries like Telecommunication, Travel, finance, retail,
insurance and utilities. Efficient natural language processing capability and Robust
back end knowledge base are quite important for gaining competitive benefits. Key
Firms operating in the industry are Nuance communications, Next IT Corporation,
Anboto Group, and Creative Virtual Ltd.
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