Potential Impact of COVID-19 on Intelligent Virtual Assistant Market
The South Asian Association for Regional Cooperation (SAARC) is deploying speech recognition support to clients who are keen on purchasing speech recognition software for commercial purposes.
Speech recognition software are in high demand amidst the COVID-19 (coronavirus) pandemic in order to provide remote services to users in the realms of banking and financial services and the retail shopping sector. Thus, companies in the intelligent virtual assistant market should capitalize on the demand for speech recognition software, especially to help individuals with mobility impairments, visual impairments, and senior citizens amidst the ongoing COVID-19 pandemic.
Obtain Report Details @ https://www.transparencymarketresearch.com/intelligent-virtual-assistant-industry.html
Speech recognition products are expected to register a sudden spike during the coronavirus era, since voice-to-text solutions have become the need of the hour. Speech to text converting software are improving internal efficiencies in healthcare organizations. Speech recognition tools are reducing unnecessary overheads for the healthcare industry and is being highly preferred by hospitals with budget-strapped resources.
These factors are expected to drive the intelligent virtual assistant market during the forecast period.
Intelligent Virtual Assistant Vendors Achieve Wide Distribution of TTS in Wireless Devices
Popular products such as Google’s Alexa and Siri in iOS phones are set to create lucrative growth opportunities for companies in the intelligent virtual assistant market. Text-to-speech (TTS) use is growing in network applications such as in synthetic voice reading of email messages and textual content of websites. Intelligent virtual assistant vendors are focusing on niche applications for TTS such as developing limited vocabularies in order to deliver quality in specific applications. These factors are helping the intelligent virtual assistant market to mature from an estimated value position of US$ 2.9 Bn in 2020 to US$ 50.9 Bn by the end of 2030.
TTS is achieving wide distribution in the market for intelligent virtual assistant for content from up-to-the minute information services. Vendors are broadening their revenue streams in motor vehicles, wireless devices, games, and toys.
To understand how our report can bring difference to your business strategy, Ask for a brochure@https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=2544
ML and Big Data Help Improve Speech Accuracy Rates in Devices
Innovative uses of speech recognition such as in smartwatches, computers, and cars are some of the key drivers that are bolstering growth for the intelligent virtual assistant market. These factors are slated to register an astonishing CAGR of 33% for the market during the forecast period. The ever-increasing mobile phone usage is another key driver, which is establishing stable revenue streams for intelligent virtual assistant vendors. Apart from electronics, companies are tapping into incremental opportunities in the realms of finance, marketing, human resource (HR), and even public transportation.
Companies in the intelligent virtual assistant market are aiming to bring down business costs associated with the integration of speech recognition systems, whilst simplifying outdates processes and increasing overall efficiency. Backed by proficiency in machine learning (ML), Big Data, and cloud processing, companies are improving speech accuracy rates.
Latest Press Release by TMR: https://www.prnewswire.com/news-releases/growing-awareness-about-depleting-water-sources-promotes-use-of-water-meters-worldwide-tmr-301150168.html
Transparency Market Research
90 State Street, Suite 700,
Albany NY - 12207,
TMR offers meticulously researched market studies. We are leaders in providing cutting-edge market intelligence reports that are brought out of more than 5 million hours of expertize in market intelligence at the global, national, and local levels.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Potential Impact of COVID-19 on Intelligent Virtual Assistant Market here
News-ID: 2173662 • Views: 555
More Releases from Transparency Market Research
Market Intelligence Report on Calcite Market, 2018-2028
Sales of calcite have witnessed utter proliferation in recent time, in line with the growing demand from paper and pulp sector wherein calcite is highly adopted as a coating and filler material. According to Transparency Market Research analysis, global calcite market is anticipated to register 4.7% CAGR during the study period 2018–2028. The TMR report opines that demand for calcite is highly driven by its significant properties that are paving way
Pearlescent Pigments Market Intelligence Report Offers Growth Prospects
The demand within the global pearlescent pigment market is slated to rise as new creative avenues emerge in the art and craft industry. Several artists have increased the consumption of pearlescent pigments, mainly due to the aesthetic value of these pigments in art forms. The use of these pigments can majorly be attributed to the gloss and shine imparted by these pigments to the design or craft. These pigments exhibit
Aragonite Market to Witness Steady Growth During the Forecast Period 2018-2026
Global Aragonite Market: Overview Aragonite is a carbonate mineral having an orthorhombic crystal system, and very closely resembles calcite. It is considered as the purest form of calcium carbonate. The mineral has garnered wide popularity as gemstone in various parts of the world and has promising healing properties with energy enhancing powers. Aragonite contains traces of magnesium and sand inclusion but rich in calcium carbonate, and is alkaline in nature. It
OEM Insulation Market Growth, Trends and Value Chain 2019-2027 by TMR
OEM Insulation Market – Overview OEM means Original Equipment Manufacturer that indicates to a company that produces a part or a subsystem of a product that is being used by another organization. Thermal insulation or simply insulation allows the product to cut down the heat gain or loss at the minimum by creating a barrier between the surfaces at the varying temperatures. There are wide range of applications and end-use verticals
More Releases for Speech
Speech Therapy Services Market 2018-2025: Smart Speech Therapy, Therapy Solution …
Speech Therapy Services Industry 2018 Global Market research report provides key analysis on the market status of the Speech Therapy Services providers with market size, growth, share, trends as well as industry cost structure. This report discovers the key drivers and challenges affecting the market. Get Sample Copy of this Report – https://www.orianresearch.com/request-sample/622819 Global Speech Therapy Services Industry 2018 Market Research Report is spread across 117 pages and
Free Speech Film Festival Announces 2012 Free Speech Awards
Quick info Who: American Insight What: Free Speech Film Festival Where: American Philosophical Society When: Wednesday, May 16, 2012 For Tickets: FreeSpeechFilmFestival.org Philadelphia, PA – American INSIGHT's first annual Free Speech Film Festival on Wednesday, May 16, 2012, will take place in the Benjamin Franklin Hall of the American Philosophical Society in Philadelphia, PA. Creative filmmakers from 16 nations around the world entered their work as a response to the subject of Free Speech. The
Inspiring Confidence Through Speech and Acting
Milly was brought up in Bangladesh and Jamaica and has travelled to over 35 countries. A professional actress and singer whose career thrived from attending Europe's top drama schools. Still a professional actor, singer and artistic director, She also does coaching and runs private lessons for children and adults to find an inner voice, gain more confidence or who simply need more life skills to use within their work environment
Interlecta's Translation Software With Speech for BlackBerry
Interlecta, a world leader in translation and messaging technologies, presents its upgraded translation software featuring Text-to-Speech and Image Translation capabilities. The users of Interlecta's Translator for BlackBerry are now going to enjoy an upgraded version of this software. The latest version of the mobile translator will support text-to-speech (TTS) and image recognition and translation (OCR + MT). Together with the Speech translation technology utilizing the newly incorporated TTS a new
Speech Design Mobile Solutions Are "HiPath Ready"
The compatibility of Speech Designs Teleserver Mobile Pro with the HiPath 4000, 8000 and OpenScape PBXs has been certified by Siemens Speech Design´s Teleserver Mobile Pro, the fixed mobile convergence (FMC) solution for enterprises, has been certified as „HiPath Ready Application“ within the Siemens HiPath technology partner program. The connectivity of Teleserver Mobile Pro IP to Siemens OpenScape Voice and Teleserver Mobile Pro 800 / 1600 / IP to
Speech technology for the process industry
Today, the four-year EU project SAFIR (Speech Automatic Friendly Interface Research) came to a successful conclusion. One of its results is a new application developed by BASF IT Services that can be used to voice-activate IT systems within the process industry. The application, named SAPHER, is primarily designed for those involved in hazard containment, such as fire departments. The goal of the SAFIR (Speech Automatic Friendly Interface Research) project was to