Trending News: Intelligent Virtual Assistant Market — Global Industry Analysis and Forecast 2020 to 2027

  • According to the new market research report Intelligent Virtual Assistant Market by Technology (Automatic Speech Recognition, Text to Speech and Text Based), by Product (Chatbot, Smart Speakers), by Type (Rule-Based and Conversational AI-Based), by Application (BFSI, Consumer Electronics, IT & Telecommunications, Automotive, Healthcare, Education, Retail, Travel & Hospitality and Others), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) — Global Forecast (2020 to 2027)”, the global Intelligent Virtual Assistant Market is estimated to reach USD 40.1 Billion by 2027 at a CAGR of around 34.7% during the review period.
  • The intelligent virtual assistant helps the user to accomplish a large variety of tasks such as Apple’s Siri or providing an intuitive interface for connected homes or cars.
  • Moreover, the use of virtual assistants are growing rapidly, with new products which coming in the market and a strong emphasis on both email as well as in voice user interfaces.
  • With the rising penetration of mobile devices is witness to boost the growth of the market in the forecast period. Whereas, with the rising adoption of smartphone lead to increase the demand for the virtual assistant such as the Google Assistant on Google-enabled or on Android mobile devices.
  • One of the major key concern of the intelligent virtual assistant market is the lack of awareness which may challenging factor for the growth of the market.
  • Increasing demand for machine learning and big data as well as rising adoption for Bring Your Own Device (BYOD) trends is play a key factor for the growth of intelligent virtual assistant market in the forecast period.
  • Cost and complexity of software in the market lead to create a major restraining factor for the market growth in the projected period.
  • Europe:
  • Asia-Pacific:
  • Nuance Communications, Inc.:
  • Intel Corporation:

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DataBridge Market Research

DataBridge Market Research

Data Bridge set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approach