Digital Human Avatar Market Trends, Strategies, Opportunities For 2022-2030

 The global digital human avatar market size is expected to reach USD 527.58 Billion in 2030 and register a revenue CAGR of 46.4% over the forecast period, according to latest analysis by Emergen Research. Robust global digital human avatar market revenue growth can be attributed to increasing efforts by customer-centric firms to provide emotionally engaging experience to customers. Integration of conversational intelligence of virtual human avatar enables possibility of a scalable interaction between a human being and the avatar, thus allowing directed approach to understand a customer's needs. Digital human avatars are capable of conversing with customers through text or speech to offer product recommendations. 

The study on the Global Digital Human Avatar Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The Digital Human Avatar market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Digital Human Avatar industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Digital Human Avatar industry.

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Some Key Highlights From the Report

Among the product type segments, the interactive digital human avatar segment is expected to register faster revenue CAGR over forecast period. Live human agents, who follow a standard set of queries, are more likely to struggle at forming an interactive environment in terms of personalized approach in comparison to virtual agents, who understand and learn customer behavior in real-time and based on customer inputs, rapidly adapt to create a completely personalized approach to each customer. Also, other than interacting with customers through tailored queries and replies, digital human avatars can create a personalized consumer specific algorithm for learning the patterns of their selections and choices. Moreover, businesses can deploy these avatars for online training and learning of their staffs.

Among the industry vertical segments, IT & telecommunications segment revenue is expected to register a rapid growth rate over the forecast period. Rising demand for better connectivity services and emergence of 5G technology are key for growth of companies in the telecom sector. However, contact centers are facing immense pressure and are struggling to scale as required. Also, automated technologies such as chatbots that are scalable are unable to replicate crucial human touch in providing customer experience. Thus, customers are experiencing digital fatigue to the point where about 82% of them rather want to talk to a person. Digital human avatars deliver a more human-like experience to customers, enabling telecom firms to scale the human touch, as well as allow human staff to focus on other important tasks.

Digital human avatar market in Asia Pacific is expected to register fastest revenue growth rate over forecast period, due to rising demand for digital human avatars in end-use industries, including retail, media & entertainments, banking, healthcare, and education in countries such as China, South Korea, Australia, and Japan. Among these, China digital human avatar market revenue is expected to register fastest growth rate over the forecast period.

The report highlights the current impact of COVID-19 on the Digital Human Avatar market along with the latest economic scenario and changing dynamics of the market. It analyzes the impact of the pandemic on market growth and remuneration. The pandemic has changed the economic scenario of the world and has affected several sectors of the market. The report estimates the market for Digital Human Avatar according to the impact of COVID-19.

Major Players/Manufacturers profiled in the report are:

 UneeQ, Microsoft Corporation, Didimo Inc., Wolf3D, HOUR ONE AI, Spatial Systems, Inc., CARV3D, DeepBrain AI, Soul Machines, and Synthesia Ltd.

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Emergen Research has segmented the global digital human avatar market on the basis of product type, industry verticals, and region:

Product Type Outlook (Revenue, USD Billion; 2018-2030)
Interactive Digital Human Avatar

Non-Interactive Digital Human Avatar

Industry Verticals Outlook (Revenue, USD Billion; 2018-2030)
BFSI

Education

Retail

Healthcare

Automotive

IT & Telecommunications

Gaming & Entertainment

Others

Regional Analysis of the Digital Human Avatar Market Includes:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

The report offers a complete understanding of the Digital Human Avatar market in key regions with respect to regional production and consumption patterns, import/export, supply and demand dynamics, trends, growth prospects, and the presence of prominent players in each region. Each of the mentioned regions is analyzed based on the comprehensive market data obtained from the major countries of each region to impart a clear understanding of the market.

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The report offers insightful information about the market dynamics of the Digital Human Avatar market. It offers SWOT analysis, PESTEL analysis, and Porter's Five Forces analysis to present a better understanding of the Digital Human Avatar market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Digital Human Avatar market.

Key Coverage of the Digital Human Avatar Market:

Insightful information regarding the global Digital Human Avatar market

Identification of growth in various segments and sub-segments of the Digital Human Avatar market

Strategic recommendations for investment opportunities

The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate

Emerging trends and current market segment analysis to help investors formulate new business strategies

Accelerates the decision-making process through the availability of the drivers and limitations

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