Conversing with AI – Intelligent Virtual Agents (IVA) State of the Market Report 2020

The global Intelligent Virtual Agent (IVA) market stood at US$300 million-US$350 million in 2019, exhibiting about 42% growth in the last 12 months. IVA solutions are a key enabler of automation in the front office, and increasing sophistication and collaboration with complimentary AI-led technologies are driving their popularity in the market. Enterprises across industries and geographies are leveraging or plan to leverage IVA solutions for different use cases to reduce human involvement and improve customer experience. As the benefits of IVA solutions become evident, the idea of integrating back office and front office to enable broader automation within organizations is also experiencing traction. However, overall IVA adoption is still nascent and presents a huge growth opportunity for enterprises to leverage.