Global digital assistant industry expected to reach over $ 33 billion by 2027 – ResearchAndMarkets.com

DUBLIN – (COMMERCIAL THREAD)–The “Digital assistants market – Forecasts from 2021 to 2026” the report was added to ResearchAndMarkets.com offer.

The global digital assistant market is expected to grow at a CAGR of 32.17% to reach $ 33.771 billion by 2026, from $ 4.793 billion in 2019.

Digital Assistant is an advanced computer program that uses artificial intelligence (AI), natural language processing, natural language understanding, and machine learning to learn by simulating a conversation with people who typically use it on Internet to provide a personalized conversational experience. .

Determining factors

The increasing use of digital assistance in various sectors such as IT and telecommunications, automotive, healthcare due to a need to improve efficiency in these industries and service companies and l integration of artificial intelligence (AI) powered intelligent virtual assistant (IVA) among various devices such as tablets, computers and smartphones have driven the global digital assistance market during the forecast period .

In addition, the growth in smartphone penetration is one of the major growth drivers of the global digital assistance market. With the growing demand for smartphones, companies are trying to incorporate advanced and unique features into their product to attract more users. These unique features also include IVA compatible applications and improved performance where intelligent and intelligent virtual assistance makes transport easier compared to old technology, as well as other features such as natural language understanding, speech recognition and l affordability.

Large companies have also implemented digital assistants as they help and help eliminate infrastructure installation costs. Hence, the profitability and feasibility of IVA is imperative to consider its adoption in enterprises which in turn helps to support the growth of the global digital assistance market.

Constraints

One of the main constraints of digital assistance is security loopholes, as the growing integration of virtual assistants creates many privacy concerns among users and slow adoption and limited awareness in developing countries. development will hamper the demand for digital assistance and slow down its growth in the market

Impact of COVID-19 on the digital assistance market

The COVID-19 pandemic has had a huge impact on the world as a whole and has resulted in an economic crisis and loss of life. The impact of COVID-19 is expected to have a significant impact on the field of services in the technology industry. The COVID-19 pandemic epidemic, where maintaining a safe distance between them, will prompt the healthcare industry and pharmaceutical suppliers to improve their research and development in AI, which is a core technology to enable various initiatives.

Many industry sectors such as grocery stores, financial organizations have launched the implementation of intelligent virtual assistants and conversational AI tools to improve customer service during the pandemic. Many medical insurance companies and government websites have deployed chatbots to help people provide the appropriate COVID-19 precautions and counseling. Many industries have invested in new technological avenues such as virtual assistants amid the pandemic. The positive impact on the digital assistance market during the outbreak is a result of the re-establishment of the importance of automation and virtual assistance in today’s world.

Segmentation:

By type

  • Speech recognition

  • Text-to-speech recognition

By end user

  • People

  • Small and medium enterprises

  • Large companies

By industry

  • BFSI

  • IT & Telecom

  • Automotive

  • Health care

  • Education

  • Others

By geography

  • North America

  • United States

  • Canada

  • Mexico

  • South America

  • Brazil

  • Argentina

  • Others

  • Europe

  • UK

  • Germany

  • France

  • Spain

  • Others

  • Middle East and Africa

  • Israel

  • Saudi Arabia

  • Others

  • Asia Pacific

  • Japan

  • China

  • India

  • Indonesia

  • Taiwan

  • Thailand

  • Others

Companies mentioned

  • Amazon

  • Apple

  • Baidu inc.

  • Creative Virtual Ltd.

  • Facebook

  • Google

  • IBM

  • Microsoft

  • Samsung

  • Clara Laboratories

For more information on this report, visit https://www.researchandmarkets.com/r/4m6jp5


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