Intelligent Virtual Assistant Market Forecast to Reach $35.1 Billion by 2025
Growing Penetration of Mobile Devices in Mobile Banking Driving the Growth of Intelligent Virtual Assistant Market
BriefingWire.com, 1/18/2021 - Intelligent Virtual Assistant Market is forecast to reach $35.1 billion by 2025, growing at a CAGR 30.8% from 2020 to 2025. This is anticipated the need for improved efficiency across service-based companies and the integration of Artificial Intelligence (AI)-powered Smart Virtual Assistant (IVA) among various devices such as tablets, computers and smartphones will boost the market. It is capable of performing a wide range of customer service functions, such as ease of navigation, providing product information, assisting customers in paying bills, and making transfers or full forms, and direct customer service issue inquiries to human agents. Such factors led banking and financial institutions worldwide to incorporate smart virtual assistants, leading to industry growth.