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Intelligent Virtual Assistant (IVA) Market Size to Reach USD 47,259.2 Million By 2027 Growing at a Massive 47.4% CAGR – Report by Market Research Future (MRFR)

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New York, US, July 27, 2021 (GLOBE NEWSWIRE) — IVA Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Intelligent Virtual Assistant Market information by Technology, by End User, by Application – forecast to 2027” the market valuation had reached USD 2,126.4 MN in 2019; It would reach USD 47,259.2 MN by 2027 at a 47.4% CAGR.

IVA Market Scope:
Intelligent virtual assistant (IVA) technology promises to boost operations and engineering efficiencies, deliver ready access to critical data, and encourage more natural interactions with industrial equipment. There is a rising interest in using virtual assistants on the plant floors to aid in training and safety applications. IVAs are increasingly used in manufacturing plants to harness the accessibility and built-in intelligence that virtual assistants offer in industrial automation applications.

Dominant Key Players on Intelligent Virtual Assistant Market Covered Are:

  • Apple Inc.
  • Oracle Corporation
  • Google LLC
  • IBM Corporation
  • Nuance Communications
  • Microsoft Corporation
  • Clara Labs
  • InteliWISE
  • eGain Communications
  • Artificial Solutions
  • 24/7 Customer Inc.
  • Creative Virtual
  • Anboto

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Market USP Exclusively Encompassed:
IVA Market Drivers
Intelligent Virtual Assistants Have Already Moved to Plant Floors
The idea of laboring IVAs on the plant floor is gaining traction among automation vendors and industry experts. Industry 4.0 ecosystems employ some form of intelligent virtual assistants to spark more natural interaction with their surroundings and colleagues. Rising uses of task-level IVA applications to augment the human workforce further boost the intelligent virtual assistant market share. 

Additional factors influencing the market growth include advances in machine learning that enable next-generation cognitive systems to detect & sense the environment, learn independently, and initiate decisions and intelligence-based recommendations. Resultantly, the intelligent virtual assistant market is estimated to demonstrate significant growth opportunities.

Segmentation of Market Covered in the Research:
The intelligent virtual assistant market forecast is segmented into technology, service, application, end-user, and regions. The technology segment is sub-segmented into speech recognition, text-to-speech, voice recognition, and others. The service segment is sub-segmented into customer service, marketing assistance, and others.

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The application segment is sub-segmented into BFSI, automotive, IT & telecom, retail, healthcare, education, and others. The end-user segment is sub-segmented into SMBs, large enterprises, individual users, and others.

Browse In-depth Market Research Report (110 Pages) on Intelligent Virtual Assistant: 
https://www.marketresearchfuture.com/reports/intelligent-virtual-assistant-market-1147

Regional Segmentation
North America leads the global intelligent virtual assistant market. Factors such as the strong presence of major players and the growing industrial sector drive market growth. Additionally, high investment by the key companies in various industries to develop new technology boosts the region’s virtual assistant artificial intelligence market growth.

The evolving cloud technology and increasing IVA applications in industrial plants boost the region’s IVA market size. The US accounts for the leading share in the North American IVA market. The North American IVA market is projected to maintain its market position throughout the assessment period.

Europe stands second in the global intelligent virtual assistant market. The strong presence of key technology providers and the high adoption rate of new technologies positively impact the intelligent assistant market in the region. Furthermore, the increasing adoption of IVAs in healthcare, automotive, e-commerce, and aerospace industries influences market growth. Germany, the UK, and France, among other European countries, hold considerable shares in the regional market.

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The Asia Pacific region demonstrates a positive growth rate in the global intelligent virtual assistant market. Factors such as the rapid urbanization and vast industrialization in developing countries such as China and India demonstrate immense opportunities for virtual assistant systems. Various public and private sector companies are increasingly adopting IVAs in their current infrastructure to provide maximum customer satisfaction, resulting in fostering the growth of the IVA market.

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COVID-19 Impact on the Global Intelligent Virtual Assistant Market
In opposition to the expectation, the COVID- 19 pandemic positively impacted the market growth, reestablishing the importance of automation and other technologies. AI, machine learning, deep learning, DevOps, and big data technologies became important. Pandemic-led logistics problems prompted manufacturing companies to consider new automation technologies that offset higher wages and increase efficiency.

Besides, the impressive market demand for self-service solutions illustrated acceleration in digital transformation due to COVID-19 and reflects the record growth IVA market witnessed in 2020. The intelligent virtual assistant market is forecasted to grow exponentially further during the assessment period.

Industry News
Key trends influencing the customer service solutions market growth are expected to boost the IVA market growth, continuing into the future. These four trends are expanding digital self-service usage, reduced customer effort, increased first call resolution, and reduced agent effort. The promise of virtual assistants in plants is faster retrieval of information, which is ultimately about efficiency and productivity.

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Fueled by the possibilities and proponents, intelligent agent technology is expected to see a bright future, helping shop floor and field maintenance supervisors monitor automation equipment and machinery far more effectively than traditional methods. IVAs can also offer operators easy access to critical machine status and environmental data, helping them work smarter and more efficiently.

In the future, virtual assistants would play an even more causal role, from proactive alerting that can help optimize operations, prevent downtime, and ensure quality products to automating specific actions and tasks to allow plant floor personnel to focus on higher-value activities. Resultantly, the global intelligent virtual assistant industry is expected to garner significant traction, witnessing increasing investments in automation.

On the flip side, the lack of awareness of the IVA advantages is a major headwind impeding the growth of the market. Nevertheless, the proliferation of IoT and AI-enabled voice assistance would support the market growth throughout the forecast period, keeping automation at the forefront. The market is also projected to witness many innovative product launches during 2021 and years to come.

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Competitive Analysis:
The intelligent virtual assistant market witnesses significant strategic initiatives, such as collaboration, mergers & acquisitions, expansion, and advanced technologies integration. Matured industry players make strategic investments in driving research and development activities and expansion plans. The market witnesses several innovative product launches and related technology launch each year.

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For instance, on Mar.03, 2021, Zappix, the leading provider of visual IVR and mobile on-demand digital self-service solutions, launched six more solutions, including visual IVR, digital patient engagement, and back work solution for daily health assessment monitoring and tracking on-site employee attendance during the COVID-19 pandemic.

Visual IVR is an automated Intelligent Virtual Assistant (IVA) solution that allows consumers to gain quick call resolution eliminating the need to speak with a live agent, resulting in high customer satisfaction.

About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Artificial Intelligence

Global Health Exhibition Announces Opportunity for Healthcare Startups to secure over 100,000 SAR in Vision NextGen Competition Designed to Fast-Track Health Innovations

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Healthcare innovators developing novel medical advancements via their own business invited to compete for a prize fund exceeding 100,000 Saudi Riyal (SAR) to further product development, to be awarded at Global Health Exhibition 2024 in Malham, Riyadh, Saudi Arabia, one of the world’s most highly-attended healthcare eventsShortlisted startup businesses will present live to an expert judging panel including Dr Mohammed Alhamali, Chief Innovation Officer at Seha Virtual Hospital, Saudi Arabia Ministry of HealthEmerging businesses competing at the event will also meet and interact with the world’s leading minds in healthcare transformation including healthcare AI innovatorsThere is still time to apply – startups may complete a short online application by Monday 16 September 2024MALHAM, Saudi Arabia and RIYADH, Saudi Arabia, Sept. 11, 2024 /PRNewswire/ — The organizers of the October 2024 Global Health Exhibition taking place in Malham, Riyadh, today announced a 100,000 Saudi Riyal prize for the winner of the October 2024 event’s Vision NextGen competition.

The competition, which seeks to support the development of novel medical products, systems and treatments across multiple healthcare sectors, is supported by leading young business publication Startups Magazine. It is open to emergent healthcare companies which have been in operation for less than five years and have fewer than 25 employees. The winning business’ prize can be utilised to further advance product development in the interests of patients.
Closely aligned with the Kingdom of Saudi Arabia’s healthcare objectives including crisis response and health security, technological and digital transformation, public health and disease prevention and health innovation, Vision NextGen judges anticipate high demand to join a shortlist of 30 companies from an anticipated longlist of over 150 businesses. Six finalists drawn from the shortlist will present to the competition’s expert judging panel live at the Exhibition on 23 October 2024. The judges include:
Reenita Das, Partner and SVP, Frost & SullivanAhmed Abdulwahab, Founder, CEO and Chief Innovation Officer, Next ArabiaPilar Fernandez Hermida, Founder and MD, i-ExpandKristina Podnar, Digital Policy Consultant, Native Trust ConsultingDr Mohammad Alhamali, Chairman of the National Innovation and Regulatory Sandbox, Chief Innovation Officer at Seha Virtual Hospital, Ministry of Health, Saudi Arabia”Healthcare transformation often starts with small, innovative ideas and the Vision NextGen competition is here to nurture those with the potential to significantly impact patient care,” said Reenita Das, Partner and SVP at Frost & Sullivan and Vision NextGen judge. 
“We are looking for trailblazers who are tackling global healthcare challenges through novel therapeutics, digital health, virtual care delivery, or the automation of health services. Participants will not only have the chance to present their innovations to some of the world’s leading health experts but also benefit from the extensive networking and learning opportunities at the Global Health Exhibition.”
To apply, startups which meet the competition’s criteria have a final opportunity before 16 September 2024 to complete a short initial application online at: Vision NextGen – The Start-up Competition (globalhealthsaudi.com). Shortlisted companies will be notified ahead of the Exhibition and will be invited to compete for a finalist place on 21 October.
“Innovation in healthcare goes beyond just technology; it’s about understanding and addressing the deeper, often unspoken, needs of people. At Labayh, we’re committed to breaking down the barriers that prevent access to mental health care, ensuring that every individual feels supported and heard,” said Basim Albeladi, CEO of workplace mental health specialist Labayh. “Through initiatives like the Vision NextGen competition, we seek to empower those who are driving meaningful change in the healthcare landscape.”
Registration information alongside the newly-published event program for Global Health Exhibition 2024 can be found at the following link: Global Health Exhibition (globalhealthsaudi.com)
“Global Health Exhibition offers healthcare innovators and startups incredible opportunities to meet with major international and local investors and leaders in the healthcare sector,” said Rachel Sturgess, Group Director, Tahaluf, the event’s organizer.
“The Vision NextGen competition is seeking true change-makers who are actively addressing the most pressing challenges in global healthcare and bring a passion for transforming the lives of patients across a wide range of medical specialities.”
 
 

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Softeon Named Leader in SPARK MatrixTM for Warehouse Management System Market, Q3, 2024 by Quadrant Knowledge Solutions

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Softeon, with its comprehensive technology for its Warehouse Management System, has received strong ratings across the parameters of technology excellence and customer impact. 
RESTON, Va., Sept. 11, 2024 /PRNewswire/ — Quadrant Knowledge Solutions announced today that it has named Softeon, the only tier-1 Warehouse Management System (WMS) provider focused on optimizing warehouse and fulfillment performance to increase operational efficiency and throughput, as a Q3, 2024 leader in the SPARK MatrixTM analysis of the global Warehouse Management System (WMS) market and its vendors.

The Quadrant Knowledge Solutions SPARK MatrixTM: Warehouse Management System (WMS) Q3, 2024, includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading Warehouse Management System (WMS) vendors in the form of its SPARK MatrixTM. It provides users with strategic information to evaluate vendor capabilities, competitive differentiation, and market position.
“Softeon has solidified its position as a leading provider of cloud-based Warehouse Management System (WMS) solutions, Warehouse Execution Systems (WES), and Distributed Order Management (DOM) by catering effectively to both B2B and B2C clients,” says Pruthvi Raj, Senior Analyst at Quadrant Knowledge Solutions. “With advanced functionalities such as real-time inventory visibility, resource management, advanced automation capabilities, and seamless integration with other supply chain systems, Softeon empowers large enterprises to achieve operational efficiency and optimize resources.”
Pruthvi Raj adds, “Softeon’s year-on-year revenue growth, strong enterprise segmentation, a compelling vision & roadmap, and industry-specific capabilities, particularly in 3PL, healthcare, and life sciences, positions the company as a leader in the SPARK Matrix™: Warehouse Management System (WMS), Q3, 2024.”
“Unlike our competitors, Softeon is uniquely focused on a comprehensive fulfillment solution suite, designed to drive the most value and quickest ROI to our customers, many of them highly demanding 3PLs,” says Jim Hoefflin, CEO, Softeon. “Our philosophy is rooted in customer centricity and manifests in products, tools, and processes that create the most ideal workflows for warehouse operations. Simply put, we relentlessly micro-tune the application to capture the most operational efficiency.”
Quadrant Knowledge Solutions defines a Warehouse Management System (WMS) as “a software suite that helps businesses to visualize, optimize, and manage end-to-end warehouse operations such as slotting, receiving, put-away, inventory management, picking, packing, and shipping. WMS also offers resource (labor, machine, material, and devices) management capabilities for effective order allocation and task optimization. Additionally, it leverages emerging technologies, such as AI/ML, analytics, digital twin, IoT, voice recognition, robotic process automation, and edge computing, to develop strategies for transforming and automating warehouse and distribution/fulfilment center activities.”
As shown by their position as a leader in the SPARK MatrixTM for the Warehouse Management System market, Q3, 2024, Softeon’s technology empowers businesses to solve the complexities and challenges of today’s warehouses.
To unlock the full potential of your supply chain with Softeon’s innovative solutions, contact them today.
Additional Resources: 
Complimentary download – SPARK Matrix: Warehouse Management System (WMS), Q3 2024
For more available research, visit: https://quadrant-solutions.com/market-research/ 
About Softeon
Softeon is a WMS provider focused exclusively on optimizing warehouse and fullfilment operations. For over two decades now, we have been helping our customers succeed. Investing in R&D enables us to develop software to solve the most complex warehouse challenges. Softeon is laser-focused on customer results, with a 100% track record of deployment success. We believe warehouse leaders shouldn’t have to settle for a one-size-fits-all approach to technology. For more information, please visit www.Softeon.com.
Media Contacts:
Mike CatalinoDirector of Public Relations and Analyst [email protected]
About Quadrant Knowledge Solutions
Quadrant Knowledge Solutions is a global advisory and consulting firm focused on helping clients achieve business transformation goals with Strategic Business and Growth advisory services. At Quadrant Knowledge Solutions, our vision is to become an integral part of our client’s business as a strategic knowledge partner. Our research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments.
Media Contacts:Shraddha Roy PR & Media Relations Quadrant Knowledge Solutions Regus Business Center 35 Village Road, Suite 100, Middleton Massachusetts 01949 United States Email: [email protected] Source: https://qksgroup.com/resources/newsroom/softeon-named-leader-in-spark-matrix-for-warehouse-management-system-market-q3-2024-by-quadrant-knowledge-solutions?id=765 Connect with us on LinkedIn- https://www.linkedin.com/company/qksgroup/ 
Logo: https://mma.prnewswire.com/media/746706/1470558/Quadrant_Knowledge_Solutions_Logo.jpg
 

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Vantiva Unveils ONYX, its latest Smart Media Device with Advanced AI Capabilities at IBC 2024

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This high-end Wi-Fi 6 enabled set-top box opens door for range of AI uses cases including event detection within video and image enhancement
PARIS, Sept. 11, 2024 /PRNewswire/ — Vantiva (Euronext Paris: VANTI), a global technology leader enabling NSPs to connect consumers worldwide, today introduced the ONYX 4K Ultra HD Android TV set-top box, the latest AI-enabled platform to be launched by Vantiva. Equipped with an extremely powerful 40K quad-core processor and featuring a 4 TOPS NPU, the ONYX STB is one of the first to incorporate innovative AI capabilities that open the door to numerous next-generation use cases including identifying and locating specific events in video (event detection within video) and image enhancement features such as sharpening (super resolution) or decreasing grain (advanced denoising). The ONYX will be demonstrated at IBC 2024 in Hall 1, Level 2, Balcony Suite 1.BS21, Rai, Amsterdam, Sept. 13 – 16.

“The expansion of AI technology into video delivery is driving further innovations and is set to completely transform the home entertainment sector,” said Leopold Diouf, Senior Vice President of the Product Division at Vantiva. “As the central hub of the home entertainment ecosystem, intelligent set-top boxes, like ONYX, play a crucial role in this AI revolution, enabling the integration of new added value services, such as predictive maintenance and enhanced security for NSPs and more personalized content for consumers. Furthermore, as ONYX supports HDR10, HDR10+ and Dolby® Vision formats, end-users will be able to enjoy a more immersive video experience.”
With the latest, most efficient and highest-performing dual-band Wi-Fi 6 technology, the ONYX allows for video streaming over Wi-Fi with support for IPTV and Over-the-Top (OTT) services such as Netflix, Hulu and Disney Plus. This allows more flexibility and mobility in the placement of the STB. The ONYX is running on Android TV 14 software and is ready for RDK as the bootloader can support both standards. The device is equipped with a quad-core processor, a powerful NPU, Bluetooth 5.2 LE technology and supports the latest Video Codecs H.266/VVC. This makes it a future-proof platform for enhanced services and data analytics features.
The ONYX will have the option for Far Field Voice (FFV) control with up to four microphones. This enables the end-user to have a true ‘lie-back’ experience where they will only need their voice to search or control the volume without having to find and press a button on the remote control. FFV will effectively incorporate smart assistant features into the STB and complement AI functionality as Large Language Models continue to evolve. Vantiva has designed this platform with flexibility in mind so it can be configured to suit the requirements of operators.
The ONYX casing is designed with recycled plastics and uses a USB-C power connector to maximize the re-use of power supply units. Additionally, the Bluetooth 5.2 LE technology enhances audio quality and manages power consumption more effectively, resulting in longer battery life for Bluetooth devices. 
PDF: https://mma.prnewswire.com/media/2502902/Vantiva_EN.pdfLogo: https://mma.prnewswire.com/media/2388773/Vantiva_Logo.jpg
 
 
Contacts:
Vantiva Press [email protected]
Thatcher+Co. for Vantiva [email protected]

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