Global virtual assistant market to grow at a CAGR of 11.60% during the period 2017-2021

Radiant insight Published “global virtual assistant market to grow at a CAGR of 11.60% during the period 2017-2021”

Description

Virtual assistants exist in cyberspace and are digital entities that help users accomplish tasks. Virtual assistants are present on websites and mobile computing devices. An intelligent virtual assistant refers to an entity that is intelligent and independent with an accurate knowledge. The virtual assistant uses the features of artificial intelligence technology to help people carry out any particular type of work easily. They answer the queries of the users and provide the required information. Customers visit the websites of companies and enterprises at any time of the day, and virtual assistants act as their dynamic and intelligent personal assistants. They guide the customers with the right solutions such as taking the users to a web page and providing information on products and services as requested by the users. A virtual assistant also offers text chat while reducing time lost in searching right information on the Internet.

Technavio's analysts forecast the global virtual assistant market to grow at a CAGR of 11.60% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global virtual assistant market for 2017-2021. To calculate the market size, the report considers the revenue generated from the text-to-speech and spoken commands market to calculate the market for global virtual assistants.

The market is divided into the following segments based on geography:

• Americas

• APAC

• EMEA

Technavio's report, Global Virtual Assistant Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors

• Apple

• eGain

• Google

• Microsoft

• Nuance Communications

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Other prominent vendors

• [24]7

• Anboto

• Amazon

• Creative Virtual

• CX Company

• Ecreation

• H-care

• Inbenta

• IBM

• Next IT

• Oracle

• Synthetix

• True Image Interactive

• Viclone

Market driver

• Demand for enhanced customer service

• For a full, detailed list, view our report

Market challenge

• Technical concerns

• For a full, detailed list, view our report

Market trend

• Emergence of new virtual assistants in the market

• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2021 and what will the growth rate be?

• What are the key market trends?

• What is driving this market?

• What are the challenges to market growth?

• Who are the key vendors in this market space?

• What are the market opportunities and threats faced by the key vendors?

• What are the strengths and weaknesses of the key vendors?

Table of Contents

PART 01: Executive summary

PART 02: Scope of the report

PART 03: Research Methodology

PART 04: Introduction

• Market outline

PART 05: Market landscape

• Market overview

• Market size and forecast

• Five forces analysis

PART 06: Market segmentation  by type

• Global virtual assistant market by type

• Global virtual assistant market by text-to-speech

• Global virtual assistant market by spoken commands

PART 07: Market segmentation by end-user

• Global virtual assistant market by end-user

• Global virtual assistant market by BFSI

• Global virtual assistant market by automotive

• Global virtual assistant market by government

• Global virtual assistant market by travel

• Global virtual assistant market by retail

• Global virtual assistant market by others

PART 08: Geographical segmentation

• Global virtual assistant market by geography

• Virtual assistant market in Americas

• Virtual assistant market in APAC

• Virtual assistant market in EMEA

PART 09: Key leading countries

• Virtual assistant market in US

• Virtual assistant market in China

• Virtual assistant market in UK

PART 10: Decision framework

PART 11: Drivers and challenges

• Market drivers

• Market challenges

PART 12: Market trends

• Emergence of new virtual assistants in the market

• Popularity of chatbots

• Virtual assistants make use of phone easier

• Popularity of NLP

PART 13: Vendor landscape

• Competitive scenario

• Apple

• eGain

• Google

• Microsoft

• Nuance Communications

• Other prominent vendors

PART 14: Appendix

• List of abbreviations

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