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

Report Details

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Pages: 55
Tables, Charts,
     & Figures:
30
Publication Date: 4Q 2019
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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.

Key Questions Addressed:

  • What is the current state of the global enterprise virtual digital assistant (VDA) market and how will it develop over the next decade?
  • Which use cases will drive greater enterprise VDA adoption?
  • What are the most significant drivers of market growth and the major challenges faced by the industry?
  • Which companies are the key players in the enterprise VDA market?
  • What is the size of the global enterprise VDA software market opportunity?

Who Needs This Report?

  • Customer experience-focused enterprises
  • Customer experience solutions providers
  • Enterprise application software providers
  • Healthcare ecosystem players
  • Retail industry players
  • Customer service-focused enterprises
  • Customer service solutions providers
  • Brand marketers and advertisers

Table of Contents

  1. Executive Summary
    1. Introduction
    2. Market Drivers
    3. Market Barriers
    4. Market Trends
    5. Market Forecast Highlights
  2. Market Issues
    1. Introduction
    2. Market Overview
    3. Market Drivers
      1. Reducing Costs, Increasing Efficiencies
      2. Meeting End-User Expectations for Control, Speedy Resolution, and Personal Context
    4. Market Barriers
      1. Effectiveness
      2. Fear of Failure
    5. Market Trends
      1. The Emergence of Webscale Platforms
      2. Healthcare VDA Momentum Slows
      3. Business Applications and Emergence of Enterprise Software Giants
  3. Use Cases
    1. Introduction
    2. Customer Service & Marketing
      1. Multiple Signs of Maturity
      2. Channel Wars: Voice, Digital, Both?
      3. Hybrid-Live Solutions
      4. Agent Assist Emerges
    3. E-Commerce & Sales
    4. Business Applications
      1. Productivity and Collaboration
      2. Workflow and Project Management
      3. Automated Job Recruiting
    5. Healthcare
      1. Physician VDAs
  4. Technology Issues
    1. Underlying Technologies
    2. Definition of AI
    3. Machine Learning
    4. Deep Learning
    5. Natural Language Processing
      1. Importance of Machine and Deep Learning to Natural Language Processing
      2. Natural Language Processing Market Drivers
        1. User Interface Technology for New Computing Platforms
        2. The Failure of Big Data
      3. Natural Language Processing Market Barriers
        1. Understanding Context
        2. Need for Accurate Data
      4. Understanding Natural Language: Word Maps and Language Models
      5. Natural Language Generation
      6. Legacy Approaches to Natural Language Processing
        1. Rules-Based
        2. Statistical Models
  5. Key Industry Players
    1. Introduction
    2. Alterra.ai
    3. Amazon
    4. Artificial Solutions
    5. Cognicor
    6. Creative Virtual
    7. CX Company
    8. Flamingo Ai
    9. Google
    10. Interactions
    11. IPsoft
    12. Kore.ai
    13. LivePerson
    14. Microsoft
    15. Mya Systems
    16. NoteSwift
    17. Nuance
    18. Oracle
    19. Pypestream
    20. SAP
    21. SmartAction
    22. Smartsheet
    23. Synthetix
    24. Woebot
    25. Other Industry Players
  6. Market Issues
    1. Forecast Methodology
    2. Total Enterprise VDA Software Revenue
    3. Enterprise VDA Software Revenue by Use Case
    4. Enterprise VDA Software Revenue by Region
    5. Enterprise AI-Driven VDA Software Revenue as a Percentage of Point-to-Point Vendor Revenue
    6. Enterprise VDA Software Platform Revenue Share
    7. Conclusions and Recommendations
  7. Company Directory
  8. Acronym and Abbreviation List
  9. Table of Contents
  10. Table of Charts and Figures
  11. Scope of Study, Sources and Methodology, Notes

List of Charts, Figures, and Tables

Charts
  • Enterprise VDA Software Revenue by Solution Type, World Markets: 2018-2025
  • Enterprise VDA Software Revenue Share by Use Case, World Markets: 2025
  • Enterprise VDA Software Revenue by Use Case, World Markets: 2018-2025
  • Enterprise VDA Software Revenue by Region, World Markets: 2018-2025
  • Enterprise AI-Driven VDA Software Revenue as a Percentage of Point-to-Point Vendor Revenue by Use Case, World Markets: 2018
  • Enterprise AI-Driven VDA Software Revenue as a Percentage of Point-to-Point Vendor Revenue by Use Case, World Markets: 2025
  • Enterprise VDA Software Platform Revenue Share by Use Case, World Markets: 2018
  • Enterprise VDA Software Platform Revenue Share by Use Case, World Markets: 2025
Figures
  • Microsoft 2018 State of Global Customer Service Report – Customer Experience
  • Microsoft 2018 State of Global Customer Service Report – Channel Preference
  • Vision for Business Application VDAs
  • ESNEFT Vision for Automating Referrals
  • AI Encompasses Numerous Technologies
  • Schematic Representation of a Deep Neural Network
  • Examples of Word Embeddings
  • Progression of Natural Language Generation
  • Visualizing Amazon Lex and Other Amazon Solutions for Contact Center
  • Google Dialogflow Developer Adoption
Tables
  • Enterprise VDA Software Revenue by Region, World Markets: 2018-2025
  • Enterprise VDA Software Revenue by Solution Type, World Markets: 2018-2025
  • Enterprise VDA Software Revenue by Use Case, World Markets: 2018-2025
  • Enterprise VDA Software Revenue by Use Case and Solution Type, World Markets: 2018-2025
  • Enterprise VDA Software Revenue, Customer Service & Marketing Use Case, World Markets: 2018-2025
  • Enterprise VDA Software Revenue, E-Commerce & Sales Use Case, World Markets: 2018-2025
  • Enterprise VDA Software Revenue, Business Applications Use Case, World Markets: 2018-2025
  • Enterprise VDA Software Revenue, Healthcare Use Case, World Markets: 2018-2025
  • Enterprise VDA Software Revenue by Industry, World Markets: 2018-2025
  • Enterprise AI-Driven VDA Software Revenue as a Percentage of Point-to-Point Vendor Revenue by Use Case, World Markets: 2018-2025
  • Enterprise VDA Software Platform Revenue Share by Use Case, World Markets: 2018-2025
  • Other Industry Participants