United States, Rockville MD, April 26, 2022 (GLOBE NEWSWIRE) – According to a recently published Fact.MR report, the global Intelligent Virtual Assistant Market is projected to grow at a compound annual rate (CAGR) of 28.2% between 2022 and 2032. The market is expected to reach US $ 62 Bn by the end of 2032. The demand for Intelligent Virtual Assistant is expected to rise over the forecast period and the market was valued at US $ 3.9 Bn in 2021
Browse in-depth TOC on “Demand of Intelligent Virtual Assistant Market “
24 Tables and
Sales of intelligent virtual assistant are expected to rise significantly. In addition to this, sales of intelligent virtual assistant are rising, accounting for US $ 14 Bn by 2026. Increasing sales of intelligent virtual assistant are also projected to contribute to the growth of the intelligent virtual assistant market share.
The intelligence technology built into these systems denotes the ability to comprehend, reason, and learn. These three aspects are the most important in simulating a customer care agent’s ability to respond to questions.
For Critical Insights on Intelligent Virtual Assistant Market, Request a Sample Report
Text-to-text, speech-to-text, text-to-speech, and speech-to-speech are just a few of the interaction mechanisms used by intelligent virtual assistant systems to help users complete their duties. In recent years, the worldwide intelligent virtual assistant market forecast has seen a significant increase.
During the projected period, it is expected to show even more robust intelligent virtual assistant market potential. By decreasing customer service efforts, an intelligent virtual assistant enhances firm income.
Which Segment is Likely to Lead the Smart Virtual Assistant Market by Application?
With a revenue share of 18.5 percent in 2020, the consumer electronics category dominated the industry in terms of market size. Automotive is emerging as one of the fastest-growing areas in the intelligent virtual assistant market, with continued expansion projected in the future.
Virtual assistant integration with the infotainment system aids in the delivery of personalized material while also improving comfort and convenience. Several manufacturers, including Daimler, BMW, and Hyundai, have integrated voice-activated infotainment systems into their vehicles. This is influencing the global intelligent virtual assistant adoption trends.
To learn more about Intelligent Virtual Assistant Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=7269
Key Segments Covered in the Intelligent Virtual Assistant Industry Survey
- By Product
- By Technology
- Speech Recognition
- By Industry Vertical
- Consumer Electronics
- Travel & Hospitality
Alphabet Inc., Amazon.com Inc., Apple Inc., Artificial Solutions, EGain Corporation, International Business Machines Corporation, IPsoft Inc., Nuance Communications Inc., Verint Systems Inc., and Samsung Electronics Co., Ltd. are some of the leading participants in the intelligent virtual assistant market.
- May 2019: AI-powered voice interaction, a new intelligent personal assistant of nuance automotive mobility assistant is coming up BMW’s personal assistant, powering a multitude of features that are core to the in-car experience, including customizable wake-up word voice-powered interaction, smart, voice-activated car manual, and more.
- One of the lab’s most recent developments is CSS Corp’s Yoda, a virtual assistant platform that enables voice and text interactions for client management. It’s a full-service solution with extensive data intake, analytics, and reporting capabilities. It is driven by AI capabilities and advanced quantifiable models that drive customer lifecycle management to understand customers’ purpose, and concerns and proactively hit the target with the right offers and solutions.
Get Customization on Intelligent Virtual Assistant Market Report for Specific Research Solutions
Key players in the Intelligent Virtual Assistant Market
- VoiceVault Inc.
- Voicebox Technologies Corp.
- Uniphore Software Solutions Pvt Ltd
- Sony Corporation
- Samsung Electronics
- Next IT Corporation
- Nuance Communications Inc.
- Invent Technologies
To understand how our report can make a difference to your business strategy, Purchase a copy of this report at https://www.factmr.com/checkout/7269
Key Takeaways from Intelligent Virtual Assistant Market Study
● A growing trend is for intelligent virtual assistants to act as customer support agents. For businesses, virtual assistants provide a more consumer-friendly customer and brand experience. Examples include Five9’s introduction of Five9 Virtual Assistant in June 2020 with Inference Solutions. The technology uses conversational AI to automate manual activities and answer typical contact center inquiries.
● Moreover, these assistants’ skills may be tailored to the end-user, thereby boosting customer satisfaction. For example, virtual assistants may help clients find a doctor, refill prescriptions, and get payment reminders.
● Apple’s Siri, Microsoft’s Cortana, and Google’s Assistant are all popular virtual personal assistants in the healthcare industry. Moreover, small and medium-sized businesses are pushing intelligent virtual assistant technologies, making them key players in health-intelligent virtual assistants.
● Aside from healthcare, retail organizations use chatbots to enhance customer experience through popular messaging applications. Retailers like Domino’s are using AI and machine learning to create virtual assistants like chatbots that allow customers to buy straight through messenger.
● The Spring 2020 Smart Audio Report indicates that owing to the COVID-19 epidemic, roughly 77% of US individuals have changed their routine, and voice-assistant usage has increased, favorably impacting the market growth.
● Companies are also launching products to help consumers keep informed. The Wipro Ventures portfolio firm Avaamo has released Project COVID, a publicly available and interactive COVID-19 intelligent virtual assistant that helps locate answers rapidly in simple English.
Explore Fact.MR’s Coverage on the TDomain- echnology
Computer Aided Engineering Market Forecast – Cloud computing’s flexibility and cost-effectiveness are key factors in the increasing adoption of computer-aided engineering. For computer aided engineering systems, cloud computing avoids the significant expenses of hardware procurement, installation, and infrastructure support.
Computer Aided Detection Market Trends – Computer-assisted detections allow for the early detection of diseases that can be devastating, such as cancer. Patients have been encouraged to choose for randomized tests and check-ups as a result of this. As a result of these factors, the global computer-aided detection market is expected to experience rapid expansion.
Network Access Control Market Analysis – Network access control (NAC) has gone a long way, and a number of industry leaders have developed solutions to help it continue to evolve throughout the years. With an ever-increasing number of major and small and medium-sized businesses, North America will continue to be the most attractive market for network access control.
Big Data Technology and Services Market Scope – The growing importance of big data technology in Internet of Things is the most recent trend gaining pace in the big data and service business (IoT). As a result, several industries are adopting big data services in order to handle enormous amounts of data and generate useful insights.
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarters based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Japan Sales Office
9F Nakano Sunplaza