Tue. Jun 15th, 2021

Global Intelligent Virtual Assistant Market: Overview

A stellar growth curve is anticipated to be charted by the global intelligent virtual assistant market over the forecast period of 2019 to 2029, notes TMRR. One of the primary growth factors in the global virtual assistant market is growing demand for efficiency arising from service-based industries. Technological advancement holds a prominent place in the growth story as Internet of Things and Artificial Intelligence witness increase in integration in a number of devices. Penetration of smart phones and in increase in disposable incomes, driving demand for laptops and tablets, are also contributing to growth in the market. Besides, benefits of using a virtual assistant such as easing of burden related to workload and better efficiency are also contributing to growth.

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Global Intelligent Virtual Assistant Market: Competitive Landscape

The dynamic and ever-evolving landscape of global intelligent virtual assistant market is witnessing notable developments. These are shaping new opportunities in the market, and driving growth trajectory higher. These are mainly a result of growth measures taken by proactive market players. Key names in the market include:

  • Intel Corporation
  • Amazon.com Inc.
  • Google Inc.
  • Nuance Communications, Inc.
  • Oracle Corporation
  • Apple Inc.
  • Microsoft
  • eGain Corporation
  • Amazon
  • Verint
  • IBM Corporation
  • CodeBaby Corporation
  • MedRespond
  • Next IT Corporation
  • CSS Corporation
  • Welltok Inc.
  • True Image Interactive Inc.

Focus areas for most players as of now are product development, technological advancement and innovation. Geographic expansion by players also figures in the list of measures to ensure higher market share is captured. Players often resort to entering into strategic alliances to achieve this goal in the market. Therefore, it is not uncommon to see mergers and acquisitions and partnerships and collaborations – based on mutual synergies – in the competitive vendor landscape of global intelligent virtual assistant market.

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Global Intelligent Virtual Assistant Market:  Key Trends and Drivers

Numerous growth factors are supporting growth in the global intelligent virtual assistant market over the forecast period. TMRR has deep-dived into the dynamics to delineate their impact on market over the forecast period.  An Analysis of key trends and drivers and its interplay is made available in its upcoming market report. Overview of few top ones is provided below:

  • Technological advancement holds a place of prominence in the global intelligent virtual assistant market over the forecast period as it relies heavily on artificial intelligence and machine learning. As integration into multiple platforms becomes possible, streamlining workload and processes for businesses across industry verticals, demand for intelligent virtual assistants would grow.
  • Call centers and customer care centers are creating demand for these assistants as massive workloads are reduced to humane levels and efficiency in resolution is improving every day. This is set to me a major growth propeller in the global intelligent virtual assistant market over the forecast period.

Global Intelligent Virtual Assistant Market:  Regional Analysis

In the global intelligent virtual assistant market, North American region will lay claim to a huge share owing to high adoption of state-of-the-art technology and visible strides forward in the field. Remote working trend is quickly catching on with people in the region and that is also fuelling growth in the regional market. Speed, efficiency, and flexibility of doing world are major benefits that are being recognized in the region, contributing to growth over the forecast period.

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By ajinkya