The Latin America, Middle East and Africa Intelligent Virtual Assistant (IVA) Based Banking Market would witness market growth of 26.8% CAGR during the forecast period (2022-2028).
Customers who require assistance want it delivered as quickly as possible. They don't want to go through a seemingly never-ending phone tree or communicate with chatbots that have few options. Intelligent virtual assistants offer a human-like experience that can assist clients in finding a solution quickly. When they have to wait for help or can't get the right help, they grow frustrated. These technologies frequently assist customers to solve their problems or quickly connect their calls to the right people.
Every additional second a business may save from a typical customer support call results in financial savings and satisfied clients. The use of an intelligent virtual agent eliminates the need for live agents to handle everyday problems. To improve the engagement, it can also gather crucial consumer data, such as an account number, a unique identifier, or a brief description of their issue. The agent may now serve the consumer without having to waste time asking for this information.
Intelligent virtual assistants don't need to sleep or take breaks. At any hour of the day, they can serve customers. This is crucial for American-based businesses that wish to maintain extended hours or bigger e-commerce platforms like Amazon but do not want call center activities to relocate overseas. IVAs can address typical problems or gather client data for follow-up contact from a live agent throughout more conventional office hours.
The U.A.E. Central Bank, which was formed in 1980, oversees the country's thriving domestic banking industry. Following the state's overarching policy, the Central Bank sets monetary, credit, and banking policy and oversees its implementation in a way that supports the national economy and currency stability. It keeps track of the gold and foreign currency holdings of the UAE government serves as the bank for local banks and represents the UAE government's financial interests at international financial organizations.
The Brazil market dominated the LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $72.7 million by 2028. The Argentina market is experiencing a CAGR of 27.4% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 26.4% during (2022 - 2028).
Based on Product, the market is segmented into Chatbots and Smart Speakers. Based on User Interface, the market is segmented into Text-to-Text, Text-to-Speech, and Automatic Speech Recognition. The report also covers geographical segmentation of Intelligent Virtual Assistant (IVA) Based Banking market. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Intelligent Virtual Assistant (IVA) Based Banking Market is Predict to reach $5.1 Billion by 2028, at a CAGR of 24.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google LLC (Alphabet Inc.), Amazon.com, Inc., IBM Corporation, Oracle Corporation, Verint Systems, Inc., Artificial Solutions International AB, CSS Corp., eGain Corporation, and True Image Interactive, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Product
By User Interface
- Text-to-Text
- Text-to-Speech
- Automatic Speech Recognition
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Google LLC (Alphabet Inc.)
- Amazon.com, Inc.
- IBM Corporation
- Oracle Corporation
- Verint Systems, Inc.
- Artificial Solutions International AB
- CSS Corp.
- eGain Corporation
- True Image Interactive, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market, by Product
1.4.2 LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market, by User Interface
1.4.3 LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market by Product
3.1 LAMEA Chatbots Market by Country
3.2 LAMEA Smart Speakers Market by Country
Chapter 4. LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface
4.1 LAMEA Text-to-Text Market by Country
4.2 LAMEA Text-to-Speech Market by Country
4.3 LAMEA Automatic Speech Recognition Market by Country
Chapter 5. LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market by Country
5.1 Brazil Intelligent Virtual Assistant (IVA) Based Banking Market
5.1.1 Brazil Intelligent Virtual Assistant (IVA) Based Banking Market by Product
5.1.2 Brazil Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface
5.2 Argentina Intelligent Virtual Assistant (IVA) Based Banking Market
5.2.1 Argentina Intelligent Virtual Assistant (IVA) Based Banking Market by Product
5.2.2 Argentina Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface
5.3 UAE Intelligent Virtual Assistant (IVA) Based Banking Market
5.3.1 UAE Intelligent Virtual Assistant (IVA) Based Banking Market by Product
5.3.2 UAE Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface
5.4 Saudi Arabia Intelligent Virtual Assistant (IVA) Based Banking Market
5.4.1 Saudi Arabia Intelligent Virtual Assistant (IVA) Based Banking Market by Product
5.4.2 Saudi Arabia Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface
5.5 South Africa Intelligent Virtual Assistant (IVA) Based Banking Market
5.5.1 South Africa Intelligent Virtual Assistant (IVA) Based Banking Market by Product
5.5.2 South Africa Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface
5.6 Nigeria Intelligent Virtual Assistant (IVA) Based Banking Market
5.6.1 Nigeria Intelligent Virtual Assistant (IVA) Based Banking Market by Product
5.6.2 Nigeria Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface
5.7 Rest of LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market
5.7.1 Rest of LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market by Product
5.7.2 Rest of LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface
Chapter 6. Company Profiles
6.1 Google LLC (Alphabet Inc.)
6.1.1 Company Overview
6.1.2 Financial Analysis
6.1.3 Segmental and Regional Analysis
6.1.4 Research & Development Expense
6.1.5 Recent strategies and developments:
6.1.5.1 Product Launches and Product Expansions:
6.1.6 SWOT Analysis
6.2 Amazon.com, Inc.
6.2.1 Company Overview
6.2.2 Financial Analysis
6.2.3 Segmental Analysis
6.2.4 SWOT Analysis
6.3 IBM Corporation
6.3.1 Company Overview
6.3.2 Financial Analysis
6.3.3 Regional & Segmental Analysis
6.3.4 Research & Development Expenses
6.3.5 Recent strategies and developments:
6.3.5.1 Product Launches and Product Expansions:
6.3.6 SWOT Analysis
6.4 Oracle Corporation
6.4.1 Company Overview
6.4.2 Financial Analysis
6.4.3 Segmental and Regional Analysis
6.4.4 Research & Development Expense
6.4.5 SWOT Analysis
6.5 Verint Systems, Inc.
6.5.1 Company Overview
6.5.2 Financial Analysis
6.5.3 Segmental and Regional Analysis
6.5.4 Research and Development Expense
6.5.5 Recent strategies and developments:
6.5.5.1 Partnerships, Collaborations, and Agreements:
6.6 Artificial Solutions International AB
6.6.1 Company Overview
6.7 CSS Corp.
6.7.1 Company Overview
6.8 eGain Corporation
6.8.1 Company Overview
6.8.2 Financial Analysis
6.8.3 Regional Analysis
6.8.4 Research & Development Expenses
6.9 True Image Interactive, Inc.
6.9.1 Company Overview
TABLE 1 LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 2 LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 3 LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 4 LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 5 LAMEA Chatbots Market by Country, 2018 - 2021, USD Million
TABLE 6 LAMEA Chatbots Market by Country, 2022 - 2028, USD Million
TABLE 7 LAMEA Smart Speakers Market by Country, 2018 - 2021, USD Million
TABLE 8 LAMEA Smart Speakers Market by Country, 2022 - 2028, USD Million
TABLE 9 LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 10 LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 11 LAMEA Text-to-Text Market by Country, 2018 - 2021, USD Million
TABLE 12 LAMEA Text-to-Text Market by Country, 2022 - 2028, USD Million
TABLE 13 LAMEA Text-to-Speech Market by Country, 2018 - 2021, USD Million
TABLE 14 LAMEA Text-to-Speech Market by Country, 2022 - 2028, USD Million
TABLE 15 LAMEA Automatic Speech Recognition Market by Country, 2018 - 2021, USD Million
TABLE 16 LAMEA Automatic Speech Recognition Market by Country, 2022 - 2028, USD Million
TABLE 17 LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market by Country, 2018 - 2021, USD Million
TABLE 18 LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market by Country, 2022 - 2028, USD Million
TABLE 19 Brazil Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 20 Brazil Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 21 Brazil Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 22 Brazil Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 23 Brazil Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 24 Brazil Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 25 Argentina Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 26 Argentina Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 27 Argentina Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 28 Argentina Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 29 Argentina Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 30 Argentina Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 31 UAE Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 32 UAE Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 33 UAE Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 34 UAE Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 35 UAE Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 36 UAE Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 37 Saudi Arabia Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 38 Saudi Arabia Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 39 Saudi Arabia Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 40 Saudi Arabia Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 41 Saudi Arabia Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 42 Saudi Arabia Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 43 South Africa Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 44 South Africa Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 45 South Africa Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 46 South Africa Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 47 South Africa Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 48 South Africa Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 49 Nigeria Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 50 Nigeria Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 51 Nigeria Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 52 Nigeria Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 53 Nigeria Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 54 Nigeria Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 55 Rest of LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 56 Rest of LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 57 Rest of LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 58 Rest of LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 59 Rest of LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 60 Rest of LAMEA Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 61 Key Information – Google LLC
TABLE 62 Key Information – Amazon.com, Inc.
TABLE 63 Key information – IBM Corporation
TABLE 64 Key Information – Oracle Corporation
TABLE 65 Key information –Verint Systems, Inc.
TABLE 66 Key information - Artificial Solutions International AB
TABLE 67 Key Information – CSS Corp.
TABLE 68 Key Information – eGain Corporation
TABLE 69 Key Information – True Image Interactive, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 SWOT Analysis: Alphabet Inc. (Google LLC)
FIG 3 SWOT analysis: Amazon.com, Inc.
FIG 4 Swot analysis: IBM Corporation
FIG 5 SWOT analysis: Oracle Corporation