The North America Intelligent Virtual Assistant (IVA) Based Banking Market would witness market growth of 23.7% CAGR during the forecast period (2022-2028).
The most intelligent and human-like digital avatars that can read, comprehend, and provide dynamic responses to online client inquiries are intelligent virtual assistants or IVAs. Using an intelligent virtual assistant to provide better customer service immediately reduces employment expenses for organizations. As a result of their ability to reduce expenses associated with infrastructure development, big businesses are increasingly incorporating intelligent virtual assistants into their operations. IVA's swift adoption in organizations is therefore largely due to its cost-effectiveness, which also contributes to the expansion of the intelligent virtual assistant market share globally.
The rise in smartphone usage is one of the primary growth drivers in the worldwide intelligent virtual assistant market, according to the key industry trends. As the demand for smartphones rises, businesses are seeking to include cutting-edge and distinctive features into their goods to gain new customers. Apps with intelligent virtual assistant support and better performance are two of the most notable advantages. Intelligent virtual assistance is more convenient than older technologies when compared to them, and it also has other advantages including language understanding, voice recognition, and cost-effectiveness.
BYOD tendencies have made it more common for workers to work remotely. Working from home allows employees more flexibility and allows them to use a virtual assistant to accomplish tasks more efficiently. In a similar manner, North American healthcare has recognized the benefits of IVAs and is focusing on enhancing the effectiveness of healthcare systems. A deficit of 40,000 primary care doctors has been predicted by the American Medical association Colleges, as a result, the usage of IVAs in the healthcare sector is anticipated to address the gap and provide effective and dependable solutions for monitoring systems.
The US market dominated the North America 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 $1.4 billion by 2028. The Canada market is poised to grow at a CAGR of 26.6% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 25.4% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Intelligent Virtual Assistant (IVA) Based Banking Market is Estimated 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
- US
- Canada
- Mexico
- Rest of North America
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 North America Intelligent Virtual Assistant (IVA) Based Banking Market, by Product
1.4.2 North America Intelligent Virtual Assistant (IVA) Based Banking Market, by User Interface
1.4.3 North America 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. North America Intelligent Virtual Assistant (IVA) Based Banking Market by Product
3.1 North America Chatbots Market by Country
3.2 North America Smart Speakers Market by Country
Chapter 4. North America Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface
4.1 North America Text-to-Text Market by Country
4.2 North America Text-to-Speech Market by Country
4.3 North America Automatic Speech Recognition Market by Country
Chapter 5. North America Intelligent Virtual Assistant (IVA) Based Banking Market by Country
5.1 US Intelligent Virtual Assistant (IVA) Based Banking Market
5.1.1 US Intelligent Virtual Assistant (IVA) Based Banking Market by Product
5.1.2 US Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface
5.2 Canada Intelligent Virtual Assistant (IVA) Based Banking Market
5.2.1 Canada Intelligent Virtual Assistant (IVA) Based Banking Market by Product
5.2.2 Canada Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface
5.3 Mexico Intelligent Virtual Assistant (IVA) Based Banking Market
5.3.1 Mexico Intelligent Virtual Assistant (IVA) Based Banking Market by Product
5.3.2 Mexico Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface
5.4 Rest of North America Intelligent Virtual Assistant (IVA) Based Banking Market
5.4.1 Rest of North America Intelligent Virtual Assistant (IVA) Based Banking Market by Product
5.4.2 Rest of North America 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 North America Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 2 North America Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 3 North America Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 4 North America Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 5 North America Chatbots Market by Country, 2018 - 2021, USD Million
TABLE 6 North America Chatbots Market by Country, 2022 - 2028, USD Million
TABLE 7 North America Smart Speakers Market by Country, 2018 - 2021, USD Million
TABLE 8 North America Smart Speakers Market by Country, 2022 - 2028, USD Million
TABLE 9 North America Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 10 North America Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 11 North America Text-to-Text Market by Country, 2018 - 2021, USD Million
TABLE 12 North America Text-to-Text Market by Country, 2022 - 2028, USD Million
TABLE 13 North America Text-to-Speech Market by Country, 2018 - 2021, USD Million
TABLE 14 North America Text-to-Speech Market by Country, 2022 - 2028, USD Million
TABLE 15 North America Automatic Speech Recognition Market by Country, 2018 - 2021, USD Million
TABLE 16 North America Automatic Speech Recognition Market by Country, 2022 - 2028, USD Million
TABLE 17 North America Intelligent Virtual Assistant (IVA) Based Banking Market by Country, 2018 - 2021, USD Million
TABLE 18 North America Intelligent Virtual Assistant (IVA) Based Banking Market by Country, 2022 - 2028, USD Million
TABLE 19 US Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 20 US Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 21 US Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 22 US Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 23 US Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 24 US Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 25 Canada Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 26 Canada Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 27 Canada Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 28 Canada Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 29 Canada Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 30 Canada Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 31 Mexico Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 32 Mexico Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 33 Mexico Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 34 Mexico Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 35 Mexico Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 36 Mexico Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 37 Rest of North America Intelligent Virtual Assistant (IVA) Based Banking Market, 2018 - 2021, USD Million
TABLE 38 Rest of North America Intelligent Virtual Assistant (IVA) Based Banking Market, 2022 - 2028, USD Million
TABLE 39 Rest of North America Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2018 - 2021, USD Million
TABLE 40 Rest of North America Intelligent Virtual Assistant (IVA) Based Banking Market by Product, 2022 - 2028, USD Million
TABLE 41 Rest of North America Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2018 - 2021, USD Million
TABLE 42 Rest of North America Intelligent Virtual Assistant (IVA) Based Banking Market by User Interface, 2022 - 2028, USD Million
TABLE 43 Key Information – Google LLC
TABLE 44 Key Information – Amazon.com, Inc.
TABLE 45 Key information – IBM Corporation
TABLE 46 Key Information – Oracle Corporation
TABLE 47 Key information –Verint Systems, Inc.
TABLE 48 Key information - Artificial Solutions International AB
TABLE 49 Key Information – CSS Corp.
TABLE 50 Key Information – eGain Corporation
TABLE 51 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