Virtual assistant

Global Smart Virtual Assistant in Banking Market Expected to Hit $11.2 Billion by 2031: Allied Market Research

Allied Market Research

Rising uses of automation in many industries, such as BFSI, retail, residential, and others, and rising demand for customer service automation in banking are driving the growth of the industry. smart virtual assistant in banking market. The pandemic has had a positive impact on the growth of the market, owing to the increase in usage and adoption of online and digitized banking methods among consumers across the globe.

Portland, OR, July 20 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the banking services based on an intelligent virtual assistant market generated $1.3 billion in 2021 and is expected to reach $11.2 billion by 2031, growing at a CAGR of 24.5% from 2022 to 2031. The report provides a detailed analysis of the changing dynamics of the market, major segments, value chain, key investment pockets, regional scenario, and competitive landscape.

Download a free sample report (Get a detailed analysis in PDF – 209 pages): https://www.alliedmarketresearch.com/request-sample/13110

Rising uses of automation in many industries, such as BFSI, retail, residential, and others, and rising demand for customer service automation in banking are driving the growth of the industry. smart virtual assistant in banking market. However, increasing cost of server systems is hampering the growth of the market. On the other hand, growth in developments towards digital AI chatbots is expected to provide potential growth opportunity for market growth.

COVID-19 scenario:

  • The outbreak of the COVID-19 pandemic has positively impacted the growth of the global smart virtual assistant in the banking market, owing to the increase in the usage and adoption of online banking methods and digitized among consumers around the world.

  • Intelligent Virtual Assistant (IVA) based banking market technology has seen massive growth as consumers have become familiar with chatbots and AI assistants in the market.

  • Additionally, banks and fintech industries are increasingly developing AI chatbots to provide accurate information to customers in the post-pandemic era.

Report Scope: –

Report attribute

Details

Revenue forecast in 2031

$11.2 billion

Rate of growth

CAGR of 24.5% from 2022 to 2031

Forecast period

2022 – 2031

Report cover

Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends

Regional scope

North America, Europe, Asia-Pacific, Latin America, MEA

Country scope

United States, Canada, Germany, United Kingdom, France, Italy, Spain, Japan, China, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia

Profiled Key Companies

Alphabet Inc., Amazon.com Inc., Artificial Solutions, IBM, Nuance Communications Inc., CSS Corp., eGain Corporation, Oracle, True Image Interactive, Inc. and Verint Systems Inc. Access the PDF table

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The report offers a detailed segmentation of the Global Smart Virtual Assistant into Products, UI, and Region based on Banking Market.

Based on product, the chatbots segment held the highest market share in 2021, holding almost three quarters of the total market share, and is expected to maintain its leading status during the forecast period. However, the smart speaker segment is estimated to register the highest CAGR of 27.2% from 2022 to 2031.

Based on UI, the text-to-text segment held the largest market share in 2021, holding almost half of the total market share, and is expected to maintain its leading status during the period of forecast. However, the automatic speech recognition segment is expected to register the highest CAGR of 29.9% from 2022 to 2031.

Based on region, North America contributes the highest share in terms of revenue in 2021, holding more than a third of the total market share, and is expected to maintain its dominant share by 2031. However, the East Asia-Pacific region is expected to manifest the fastest CAGR of 28.0% during the forecast period.

Get a detailed COVID-19 impact analysis on The Intelligent virtual assistant in the banking market @ https://www.alliedmarketresearch.com/request-for-customization/13110?reqfor=covid

Major Industry Players

  • Alphabet Inc.

  • Amazon.com Inc.

  • Artificial solutions

  • IBM

  • Nuance Communications Inc.

  • css corp.

  • eGain Corporation

  • Oracle

  • True Image Interactive, Inc.

  • Verint Systems Inc.

Main benefits for stakeholders

  • This report provides a quantitative analysis of market segments, current trends, estimates and dynamics of the Intelligent Virtual Assistant in Banking market analysis from 2021 to 2031 to identify opportunities in the smart virtual assistant in banking.

  • Market research is offered with information related to key drivers, restraints, and opportunities.

  • Porter’s Five Forces analysis highlights the ability of buyers and suppliers to enable stakeholders to make profit-driven business decisions and strengthen their supplier-buyer network.

  • In-depth analysis of the Intelligent Virtual Assistant in Banking market segmentation helps to determine the existing market opportunities.

  • Major countries in each region are mapped according to their revenue contribution in the global market.

  • The positioning of market players facilitates benchmarking and provides a clear understanding of the current position of market players.

  • The report includes analysis of regional and global Smart Virtual Assistant in Banking market trends, key players, market segments, application areas and market growth strategies.

Key market segments

  • By product

  • By user interface

  • By region

    • North America

      • American smart virtual assistant in banking market

      • Canada Smart Virtual Assistant in Banking Market

      • Mexico Smart Virtual Assistant in Banking Market

    • Europe

      • Germany Intelligent virtual assistant in the banking market

      • France Intelligent virtual assistant in the banking market

      • Smart virtual assistant in UK banking market

      • Italy Intelligent virtual assistant in the banking market

      • Spain Smart virtual assistant in the banking market

      • The rest of Europe

    • Asia Pacific

      • Intelligent Virtual Assistant in Japan Banking Market

      • Smart Virtual Assistant in China Banking Market

      • Australia Smart Virtual Assistant in Banking Market

      • India Smart Virtual Assistant in Banking Market

      • Smart virtual assistant in South Korea in the banking market

      • Rest of Asia-Pacific

    • LAMEA

      • Brazil Smart virtual assistant in banking market

      • Smart Virtual Assistant in Saudi Arabia in Banking Market

      • Smart Virtual Assistant in South Africa Banking Market

      • Rest of LAMEA

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About Us

Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. Allied Market Research CEO Pawan Kumar helps inspire and encourage everyone associated with the company to maintain high quality data and help clients in every way possible to achieve success. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

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