Virtual Customer Assistants Market 2021 Size, Share Industry Trends, Growth, Development Status, Future Plans Analysis by 2030
Virtual customer assistants are also known as automated customer service assistants deployed by businesses in order engagethe customers, answer their queries, and also act as a concierge and handle various requests. These assistants are empowered by artificial intelligence and thus able to simulate responses similar to humans and perform tasks similar to customer service executives. Growing penetration of smart devices such as smart speakers, smartphones and tablets among others is one of the major factors pushing market growth of the virtual customer assistants market.
Access Full Description of this report at:–
Top Companies: Google LLC, Amazon.com, Inc., Apple Inc., IBM Corporation, and Nuance Communications
Market Dynamics and Trends
Growing demand for automation in the services sector is one of the major factors augmenting market growth of the virtual customer assistants market at present. Organizations are striving for a better customer experience, due to which they are focusing more on automation. The main benefit of virtual customer assistants is that is it highly effective in solving customer queries. It offers newer ways of solving their problems and interact with services in brands. The growing trend of instant messaging as the primary mode of communication between customers and customer contact centres, instead of using a traditional voice channel.Organizations, often the challenge of answering repeated questions from customers. This task becomes monotonous for a human executive, bringing down his morale, which in turn leads to degradation in customer experience. Organizations have come up with the idea of deploying virtual customer assistants that would take the place of human executives for answering customer queries
Demand for smart devices have increased tenfold over the past few years. Devices such as smartphones, tablets, and smart speakers have witnessed increased penetration among consumers across the globe. Similarly, advanced technology has also forayed into these devices and have made them more advanced than before. At present, advanced technologies such as artificial intelligence and natural language processing have forayed into such devices, due to which these devices can also be used as virtual assistants. Mobile apps have become smarter and have implemented virtual assistants in them in order to serve the customers betters. For instance, banking apps have begun implementing intelligent virtual assistants in order to deal with the huge volume of customer queries and data generated in a day. Smartphones have made life easier for the population, and the implementation of virtual assistant enabled apps have further augmented human life, and would continue to do so in the coming years as well. Further, the impact of COVID-19 pandemic will further augmented the information technology sector and will aid in the proliferation of technologies such as machine learning and natural language processing among others, resulting in the growth of the virtual customer assistants market. The post COVID era would witness a lot of organizations shifting towards automation, and adoption of virtual customer assistants, as it is a cost effective solution and requires less workforce, saving a lot of cost. This in turn would fuel market growth of technologies such as natural language processing and machine learning.
However, there are certain pain points of virtual customer assistants, which are holding back the growth of the market. Customers often have to repeat their questions to a human executive in case their queries get escalated, and goes beyond the capacity of a virtual customer assistant. Chatbots are often disconnected from agent assisted touch points resulting in poor performance. Further, virtual customer assistants are yet to be evolved properly in order to respond to all customer queries, due to which they end up getting stuck while addressing unusual queries and redirects to a human executive.
Request sample copy of this report at:-
Market Segmentations and Scope of the Study:
The global market for virtual customer assistants is segmented on the basis of offering into solutions and services. Based on deployment, the global virtual customer assistants market is segmented into cloud and on-premise. Based on technology, the market for virtual customer assistants is segmented into machine learning, natural language processing and contextual awareness among others. Based on device type, the market for virtual customer assistants is segmented into smart speakers, smartphones, tablets, and wearables among others. Based on input type, the market for virtual customer assistants is segmented into text to speech and voice recognition. Based on end-use industry, the market for virtual customer assistants is segmented into telecom, healthcare, public sector, retail, BFSI, logistics and aerospace & defense among others. Moreover, based on regions, the global market for virtual customer assistants is segmented into North America, Europe, Asia Pacific and Rest of the World.
North America led the market for virtual customer assistants in 2019 and is expected to display similar trends in the coming years, with the U.S. spearheading the growth of the virtual customer assistants market within the North American region. Strong IT infrastructure in the country has led the country being the largest market for allied sectors such as machine learning, natural language processing, smartphones, smart speakers and tablets among others. Europe followed North America in terms of market share, with Germany, France and U.K. leading the growth of the virtual customer assistants market in the European region.
Asia Pacific is expected to display the fastest growth in the virtual customer assistants market during the forecast period with Japan, China and India spearheading the growth of the virtual customer assistants market in Asia Pacific.
Phone Number: +1-217-650-7991
About Next Move Strategy Consulting:
Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.
We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.
For more insights, please visit, https://www.nextmsc.com
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 Virtual Customer Assistants Market 2021 Size, Share Industry Trends, Growth, Development Status, Future Plans Analysis by 2030 here
News-ID: 2428352 • Views: 187
More Releases from Next Move Strategy Consulting
Ceramic Coatings Market predicted to reach USD 17.80 billion by 2030 with a CAGR …
The Global Ceramic Coatings Market size is estimated to be USD 8.72 billion in 2019 and is predicted to reach USD 17.80 billion by 2030 with a CAGR of 6.7% from 2020-2030. Ceramic coating is the clear coat which includes the liquid polymer and generally applied on the car’s body. Creating a layer of protection, the coating chemically bonds with the vehicle's factory paint. Once coated, it can only be
Cellulose Fibers Market Size, Status, Types, Applications, Key Players and Forec …
The Global Cellulose Fibers Market size is estimated to be USD 30.58 billion in 2019 and is predicted to reach USD 47.07 billion by 2030 with a CAGR of 8.3% from 2020-2030. Cellulose fibers are the fibers made with the esters or the ethers of cellulose which is obtained from the leaves, wood, or bark of the plants, or some other plant-based material. The wood pulp undergoes through various chemical
Catalyst Market 2030 Industry Specifications and Outlook 2021 – Johnson Matthe …
The Global Catalyst Market size is estimated to be USD 26.13 billion in 2019 and is predicted to reach USD 40.22 billion by 2030 with a CAGR of 4.0% from 2020-2030. Catalyst is the compound or agent added to the chemical reaction to happen it more quickly by lowering or raising the activation energy of the process. It can increase the reaction rate of the steam and can also participate
Carnauba Wax Market Size, Status and Business Outlook 2021 to 2030
The Global Carnauba Wax Market size is estimated to be USD 279.1 million in 2019 and is predicted to reach USD 407.5 million by 2030 with a CAGR of 3.50% from 2020-2030. Carnauba wax is the natural wax-containing hydroxyl acids, mono and di hydroxyl fatty alcohols, and polyesters. The significant properties of such wax are high oil retention capability, high melting point, hardest among other natural waxes such as bee
More Releases for Virtual
A Virtual Globe: stunning virtual events platform for every business .
Ultimately, the world as we know it has changed. Whether we accept it or not, the reality is that the way we work, regardless of your profession, has already shifted to a digital presence and is only a matter of time before this becomes the new norm. A Virtual Globe has launched its stunning virtual events platform that includes some really cool features such as Hybrid Mixed Reality and bespoke
PASSFEED OFFERS VIRTUAL CARDS
(New York, NY) May 14, 2019 — Looking to expand the boundaries of online shopping and money exchange, Passfeed has consistently sought to capitalize on consumer frustrations while shopping on conventional websites. The dream is simple: people should be able to shop, save and share deals without having to deal with credit cards or pay banking fees. Along with a robust shopping experience, Passfeed’s ever expanding offerings include virtual debit
Global Virtual Machine Market
Virtual machine is a software program on the computer which acts as a virtual computers. It runs on the pre-installed operating system or host operating system of the computer and get access of virtual hardware such as virtual CPU, virtual memory, network interface and other devices and work as a guest operating system. This guest or secondary operating system runs in a small window just like any other application do
YOUR VIRTUAL ACE LAUNCHED
February 1, 2011: Thyreast Pinckney of Ladson, South Carolina is announcing the launch of her company, Your Virtual Ace, LLC. Your Virtual Ace provides ongoing administrative and human resource support for small businesses, home-based workers, independent consultants, and entrepreneurs in the United States. Your Virtual Ace is a virtual assistance firm. Virtual Assistants (VAs) are independent contractors who (from a remote location, usually their home or office) support
CIA Launches Virtual Brigade
ITASCA, Ill., June 13, 2008 - The Control Intelligence Agency (CIA) is looking for a few good engineers. On June 27, the CIA—Control Design magazine’s fictional intelligence-gathering organization—will come in from the cold and invite controls engineers at industrial machine-building OEMs to join the once-clandestine group as part of a newly formed virtual brigade of agents. New advances in simulation technology have created safer mission environments, allowing the CIA to open its
Virtual Music Video launched
Todtenweis, Germany. The platform for online music collaboration, v-band.de, launched the first music video for a song created by musicians from three different continents. The song called \"Pirate of the deep blue sea\" sounds like a modern folk song including electronic elements. With recorded instruments provided by members from the USA and Germany the song went to life with lyrics and vocals written and recorded by a member from Australia. In addition