Global Intelligent Virtual Assistant Market is Estimated to Reach $15,362 Million by 2025, Says Accurize Market Research
Global Intelligent Virtual Assistant Market report published by Accurize Market Research forecast that the global market is expected to reach $15,362 million by 2025; growing at a CAGR of 33.9% from 2017 to 2025. By geography, Asia Pacific and Rest of the World are expected to grow at a CAGR of 36.4% and 35.4%, respectively, during the forecast period.
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Increasing implementation of chatbots and increasing Smartphone penetration to drive the growth of the market
Increasing implementation of chatbots and increasing Smartphone penetration fuels the demand for the global intelligent virtual assistant market.Furthermore,rising demand for self-reliance, rapid resolution of queries, and online self-service also boosts the growth of the market.
Market Segmentation
The global intelligent virtual assistant market has been bifurcated on the basis of technology, vertical, and geography. Technology segment comprises speech recognition, and text-to-speech. By vertical segment, the market is classified into automotive, healthcare, BFSI retail/e-commerce, and other verticals.
By geography the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW).North America is further bifurcated into U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, Australia, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Top players in the market
The key players operational in the market includes Alphabet Inc., Apple Inc., Amazon.com, Inc., International Business Machines (IBM) Corporation, Baidu, Inc., TCL Communication, Microsoft Corporation, Nuance Communications, Inc., Samsung Electronics Co. Ltd., and Inbenta Technologies Inc. among others.
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