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 : May, 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
  • 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.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?