Published Date: 31-Jul-2022
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According to a new report, published by KBV research, The Global Intelligent Virtual Assistant (IVA) Based Banking Market size is expected to reach $5.1 billion by 2028, rising at a market growth of 24.3 % CAGR during the forecast period.
The Chatbots segment is leading the Global Intelligent Virtual Assistant (IVA) Based Banking Market by Product in 2021 thereby, achieving a market value of $3.8 billion by 2028. This is due to its wide acceptability across numerous industries, including BFSI, retail, and others. Additionally, chatbots have a lot of benefits, such as shorter wait times, increase customer satisfaction, and the capacity to offer customers prompt support without human involvement. Instead of offering direct contact with a real human agent, a chatbot or chatterbot is a software program.
The Text-to-Speech segment is showcasing CAGR of 24.6% during (2022 - 2028). Because there is a greater demand for speakers with integrated virtual assistant characteristics that can be utilized for many things. The use of the text-to-speech interface is becoming more widespread among diverse customers, educational institutions, and individual users. The text-to-speech interface's demand is growing as the speakers use it to offer features to answer user requests.
The North America market dominated the Global Intelligent Virtual Assistant (IVA) Based Banking Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.9 billion by 2028. The Asia Pacific market is exhibiting a CAGR of 25% during (2022 - 2028). Additionally, The Europe market would showcase a CAGR of 24.1% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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