Intelligent Virtual Assistant Market: Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2019 - 2029

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Intelligent Virtual Assistant Market: Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2019 - 2029

Status : September, 2021 | Technology & Media

Report Digest


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.

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.

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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The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

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Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?