Market Research Report
Virtual Digital Assistants for Enterprise Applications: Virtual Agents, Chatbots and Virtual Assistants for Enterprise Markets Utilizing Artificial Intelligence, Natural Language Processing and Conversational User Interfaces
|Published by||Tractica||Product code||335100|
|Published||Content info||55 Pages; 30 Tables, Charts & Figures
Delivery time: 1-2 business days
|Virtual Digital Assistants for Enterprise Applications: Virtual Agents, Chatbots and Virtual Assistants for Enterprise Markets Utilizing Artificial Intelligence, Natural Language Processing and Conversational User Interfaces|
|Published: November 19, 2019||Content info: 55 Pages; 30 Tables, Charts & Figures||
More than 10 years ago, companies seeking efficiencies and automation for customer service began experimenting with applications that leveraged natural language processing (NLP). By early 2016, significant advances in combining NLP with other forms of artificial intelligence (AI), primarily machine learning (ML) and deep learning (DL), began to make enterprise virtual digital assistants (VDAs) more intelligent and useful. These advancements and other market factors have expanded the use cases for enterprise AI-driven VDAs beyond customer service & marketing. Tractica has identified three other use cases where significant direct software revenue will be generated for enterprise VDAs: e-commerce & sales, business applications, and healthcare.
Over the next 3 to 5 years, natural language (NL) AI will continue to improve and sentiment and emotion recognition AI will evolve. VDAs will become an increasingly significant interface enterprises can use for both externally-facing and internally-facing purposes. Externally-facing use cases include handling customer service, marketing, and commerce transactions, while internally-facing use cases include running enterprise application software, productivity and collaboration applications, and administration functions. Tractica expects strong growth in enterprise VDA software revenue, which is forecast to increase from $1.3 billion in 2018 to more than $8.9 billion in 2025.
This Tractica report examines the market and technology issues surrounding enterprise VDAs and presents profiles for key industry players throughout the ecosystem. It analyzes how enterprise VDAs will be used across multiple channels in four key use cases: customer service & marketing, e-commerce & sales, business applications, and healthcare VDAs. Tractica also presents global market forecasts for enterprise VDA software, segmented by region, solution type, and use case, covering the period from 2018 through 2025.