Virtual Assistant Market 2020 Size, Share, Growth, Trends & Industry Outlook 2025| IBM Corporation, Google Inc., CodeBaby Corporation, MedRespond, Next IT, Corporation, Nuance Communications, Inc., Oracle Corporation, Apple Inc., Microsoft, eGain Corporat

A virtual assistant makes user experience easy and makes it smooth functioning hence all the industries adapting the technology is driving the global virtual assistant market.

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The growing importance of customer engagement activities, increase in the Artificial Intelligence technology up gradation by the all the sectors and industries, increase in the use of smartphone usage and people getting adapted to carrying out majority of tasks on the phone, increasing demand from all the industries for improving user experience, such as medication reminders, online chat service and other personalized services is driving the global virtual assistant market.

Customer satisfaction is the aim of these companies. Emergence of newer technologies in the old running software and products such as smart speakers, chatbots are been of great importance in the retail, ecommerce, entertainment, media, travel, hospitals, automobile, BPO and many other sectors all around the globe. In a last few years there has been a development of IVA that has got interactive voice response offer virtual identities that converse with the users making the user friendly with the application and hence growing the sales and revenue leading to the development of the global virtual assistant market.

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Increase in the use of smartphones and people getting adapted to carrying out majority of tasks on the phone, increasing demand from the organizations for improving user experience, such as reminders, chatbots for information, entertainment and other tasks is driving the global virtual assistant market. The growing importance of customer engagement activities, increase in the Artificial Intelligence technology up gradation by the companies in various sectors to support their daily tasks, make them easy to use and giving an error rate very low compared to manual work done by the employees is driving the global virtual assistant market.

The global Virtual Assistant market is categorized into several segmentation including type, application and region. Based on the type, the global Virtual Assistant market is divided into Automatic speech recognition, Text-to-speech, Text-based and others. Based on the application, the global Virtual Assistant market is classified into IT & Telecom, BFSI, Retail, Healthcare, Automotive, Education and others. Looping on to the regional overview, the global Virtual Assistant market is a wide range to North America, Canada, Egypt, Asia Pacific, Japan, India, Southeast Asia, The Middle East and Africa, Europe, France, Russia, South America, Saudi Arabia, Germany, and Columbia. Leading players of the global Virtual Assistant market includes Apple, Inc., Microsoft Corporation, Nuance Communications, Inc., Samsung Electronics Co. Ltd., Baidu, Inc., International Business Machines (IBM) Corporation, and more others.

North America holds the largest share in the global market

Geographic regions included in the global virtual assistant market study are North America, Europe, Asia Pacific, South America, and Middle East & Africa along with its major countries. Among these, North America is expected to hold the largest share in the global virtual assistant market in a given forecasted period. The rising number of wireless devices and mobile subscribers in North America is expected to drive the virtual assistant market in the region. Additionally, increasing the adoption of Bring Your Own Device (BYOD) has led to the emergence of working remotely. Moreover, increasing the use of cloud-based solutions such as MS Office and Skype has led to technological advancements, which further impacted the demand for virtual assistant solutions in the region.

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Key Market Players

IBM Corporation

Google Inc.

CodeBaby Corporation

MedRespond

Next IT Corporation

Nuance Communications, Inc.

Oracle Corporation

Apple Inc.

Microsoft

eGain Corporation

Amazon

Verint

Others

Market Segments: Virtual assistant Market

By Product

Chatbots

Smart Speakers

By Technology

Automatic Speech Recognition

Text-to-Speech

By Application

Consumer Electronics

Automotive

Healthcare

BFSI

Retail

Others

By Region (tentative)

North America

US

Canada

Mexico

Europe

Germany

France

UK

Russia

Asia Pacific

China

India

South Korea

Japan

South-East Asia

The Middle East and Africa

Saudi Arabia

South America

Brazil

Key Sources

Industry Associations

Patent Websites

Company Annual Reports

Company Websites

Key industry leaders

Technology consultants

Others

Key Questions Answered

What are the key growth regions and countries?

What are the important types and technologies being used?

What are the market players doing, in terms of research and development?

Which are the new applications for this market?

What are the integrations happening?

What are the recent news, developments, mergers, or large value deals?

Key Stakeholders

Communication Equipment Manufacturers

Technology Support Providers

Original Equipment Manufacturers (OEMs)

Software Service Providers

Regulatory Authorities

Research and Innovation Organizations

Technocrats

Suppliers and Distributors

Other Channel Partners

Quality Control Organizations

Environmental Authorities

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