The Europe Intelligent Virtual Assistant (IVA) Based Banking Market would witness market growth of 24.1% CAGR during the forecast period (2022-2028).
The outlook for the intelligent virtual assistant market has recently changed due to the rise in remote working due to Bring Your Own Device (BYOD) trends and technological advancements. As technology has evolved, the adoption of cloud-based products like Skype and MS Office Online has increased. An increasing number of people are working remotely and heavily depending on virtual assistants to fulfill their duties as a result of the widespread use of cloud-based services. As a result, it offers a lot of potential for the demand for intelligent virtual assistants to increase.
Since voice-enabled virtual assistants can execute a variety of infotainment instructions, the intelligent virtual assistant is crucial in decreasing driver distraction. To increase driver efficiency, businesses are installing AI-based virtual assistants in cars that can, among other things, recommend destinations based on the schedule and scan emails and texts.
An intelligent virtual assistant is a piece of software that uses AI and machine learning to help users quickly access information or finish activities based on their location, specific user data, and past chats. These platforms make use of natural language processing, or NLP, which enables computers to comprehend spoken language and text in a manner comparable to that of humans. Many companies utilize text-based intelligent virtual agent programs to provide customer care, even though the most well-known ones include Apple's Siri, Amazon's Alexa, Google Assistant, Microsoft's Cortana, and IBM's Watson.
One of the largest in the world and a crucial component of the global financial system, the European banking sector includes some of the biggest economies on the planet. Previous empirical studies have emphasized the significance of risk management in light of the possibility of bank contagion both inside and outside of Europe. The OECD (2021) highlighted that a rise in household and corporate default as a result of the recent COVID-19 pandemic has had a direct effect on bank asset quality and increased regulatory worries over the viability of the domestic and global financial system.
The Germany market dominated the Europe 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 $340.4 million by 2028. The UK market is anticipated to grow a CAGR of 23.1% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 25% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Intelligent Virtual Assistant (IVA) Based Banking Market will Hit $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
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
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 Europe Intelligent Virtual Assistant (IVA) Based Banking Market, by Product
1.4.2 Europe Intelligent Virtual Assistant (IVA) Based Banking Market, by User Interface
1.4.3 Europe 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. Europe Intelligent Virtual Assistant (IVA) Based Banking Market by Product
3.1 Europe Chatbots Market by Country
3.2 Europe Smart Speakers Market by Country
Chapter 4. Europe Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface
4.1 Europe Text-to-Text Market by Country
4.2 Europe Text-to-Speech Market by Country
4.3 Europe Automatic Speech Recognition Market by Country
Chapter 5. Europe Intelligent Virtual Assistant (IVA) Based Banking Market by Country
5.1 Germany Intelligent Virtual Assistant (IVA) Based Banking Market
5.1.1 Germany Intelligent Virtual Assistant (IVA) Based Banking Market by Product
5.1.2 Germany Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface
5.2 UK Intelligent Virtual Assistant (IVA) Based Banking Market
5.2.1 UK Intelligent Virtual Assistant (IVA) Based Banking Market by Product
5.2.2 UK Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface
5.3 France Intelligent Virtual Assistant (IVA) Based Banking Market
5.3.1 France Intelligent Virtual Assistant (IVA) Based Banking Market by Product
5.3.2 France Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface
5.4 Russia Intelligent Virtual Assistant (IVA) Based Banking Market
5.4.1 Russia Intelligent Virtual Assistant (IVA) Based Banking Market by Product
5.4.2 Russia Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface
5.5 Spain Intelligent Virtual Assistant (IVA) Based Banking Market
5.5.1 Spain Intelligent Virtual Assistant (IVA) Based Banking Market by Product
5.5.2 Spain Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface
5.6 Italy Intelligent Virtual Assistant (IVA) Based Banking Market
5.6.1 Italy Intelligent Virtual Assistant (IVA) Based Banking Market by Product
5.6.2 Italy Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface
5.7 Rest of Europe Intelligent Virtual Assistant (IVA) Based Banking Market
5.7.1 Rest of Europe Intelligent Virtual Assistant (IVA) Based Banking Market by Product
5.7.2 Rest of Europe 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 Europe Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 2 Europe Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 3 Europe Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 4 Europe Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 5 Europe Chatbots Market by Country, 2018 - 2021, USD Million
TABLE 6 Europe Chatbots Market by Country, 2022 - 2028, USD Million
TABLE 7 Europe Smart Speakers Market by Country, 2018 - 2021, USD Million
TABLE 8 Europe Smart Speakers Market by Country, 2022 - 2028, USD Million
TABLE 9 Europe Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 10 Europe Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 11 Europe Text-to-Text Market by Country, 2018 - 2021, USD Million
TABLE 12 Europe Text-to-Text Market by Country, 2022 - 2028, USD Million
TABLE 13 Europe Text-to-Speech Market by Country, 2018 - 2021, USD Million
TABLE 14 Europe Text-to-Speech Market by Country, 2022 - 2028, USD Million
TABLE 15 Europe Automatic Speech Recognition Market by Country, 2018 - 2021, USD Million
TABLE 16 Europe Automatic Speech Recognition Market by Country, 2022 - 2028, USD Million
TABLE 17 Europe Intelligent Virtual Assistant (IVA) Based Banking Market by Country, 2018 - 2021, USD Million
TABLE 18 Europe Intelligent Virtual Assistant (IVA) Based Banking Market by Country, 2022 - 2028, USD Million
TABLE 19 Germany Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 20 Germany Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 21 Germany Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 22 Germany Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 23 Germany Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 24 Germany Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 25 UK Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 26 UK Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 27 UK Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 28 UK Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 29 UK Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 30 UK Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 31 France Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 32 France Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 33 France Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 34 France Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 35 France Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 36 France Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 37 Russia Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 38 Russia Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 39 Russia Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 40 Russia Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 41 Russia Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 42 Russia Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 43 Spain Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 44 Spain Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 45 Spain Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 46 Spain Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 47 Spain Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 48 Spain Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 49 Italy Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 50 Italy Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 51 Italy Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 52 Italy Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 53 Italy Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 54 Italy Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 55 Rest of Europe Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 56 Rest of Europe Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 57 Rest of Europe Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 58 Rest of Europe Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 59 Rest of Europe Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 60 Rest of Europe 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