Global Virtual Assistant Market 2017-2021

  • ID: 4376217
  • Report
  • Region: Global
  • 81 pages
  • TechNavio
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FEATURED COMPANIES

  • Amazon
  • Creative Virtual
  • eGain
  • IBM
  • Next IT
  • Synthetix
  • MORE
About Virtual Assistant

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.

The 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
The 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
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 drivers
  • Demand for enhanced customer service
  • For a full, detailed list, view the full report
Market challenges
  • Technical concerns
  • For a full, detailed list, view the full report
Market trends
  • Emergence of new virtual assistants in the market
  • For a full, detailed list, view the full 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?
You can request one free hour of the analyst’s time when you purchase this market report. Details are provided within the report.
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2 of 5

FEATURED COMPANIES

  • Amazon
  • Creative Virtual
  • eGain
  • IBM
  • Next IT
  • Synthetix
  • MORE
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
List of Exhibits
Exhibit 01: Global virtual assistant market: An overview
Exhibit 02: Global virtual assistant market 2016-2021 ($ billions)
Exhibit 03: Five forces analysis
Exhibit 04: Global virtual assistant market by type 2016 and 2021 (% share of revenue)
Exhibit 05: Global virtual assistant market by type 2016-2021 ($ billions)
Exhibit 06: Global virtual assistant market by text-to-speech 2016-2021 ($ billions)
Exhibit 07: Global virtual assistant market by spoken commands 2016-2021 ($ billions)
Exhibit 08: Global virtual assistant market by end-user (% share of revenue)
Exhibit 09: Global virtual assistant market by end-user 2016-2021 ($ billions)
Exhibit 10: Global virtual assistant market by BFSI 2016-2021 ($ billions)
Exhibit 11: Global virtual assistant market by automotive 2016-2021 ($ billions)
Exhibit 12: Global virtual assistant market by government 2016-2021 ($ billions)
Exhibit 13: Global virtual assistant market by travel 2016-2021 ($ billions)
Exhibit 14: Global virtual assistant market by retail 2016-2021 ($ billions)
Exhibit 15: Global virtual assistant market by others 2016-2021 ($ billions)
Exhibit 16: Global virtual assistant market by geography 2016 and 2021 (% share of revenue)
Exhibit 17: Global virtual assistant market by geography 2016-2021 ($ billiosn)
Exhibit 19: Virtual assistant market in Americas 2016-2021 ($ billions)
Exhibit 20: Virtual assistant market in APAC 2016-2021 ($ billions)
Exhibit 21: Virtual assistant market in EMEA 2016-2021 ($ billions)
Exhibit 22: Key leading countries (Market share)
Exhibit 23: Virtual assistant market in US 2016-2021 ($ billions)
Exhibit 24: Virtual assistant market in China 2016-2021 ($ billions)
Exhibit 25: Virtual assistant market in UK 2016-2021 ($ billions)
Exhibit 26: Other prominent vendors
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FEATURED COMPANIES

  • Amazon
  • Creative Virtual
  • eGain
  • IBM
  • Next IT
  • Synthetix
  • MORE
New Report Released: – Global Virtual Assistant Market 2017-2021

The author of the report recognizes the following companies as the key players in the global virtual assistant market: Apple, eGain, Google, Microsoft, and Nuance Communications

Other Prominent Vendors in the market are: [24]7, Anboto, Amazon, Creative Virtual, CX Company, Ecreation, H-care, Inbenta, IBM, Next IT, Oracle, Synthetix, True Image Interactive, and Viclone.

Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is Emergence of new virtual assistants in the market. Cloud-based artificial intelligent software is increasingly used because of its enhanced features, which helps in effective customer engagements. Siri, Google Now, Cortana, and Alexa are very popular across the world as they have introduced the concept of talking to, instead of through a computer, phone, and home appliances. There are new virtual assistants in the market by Amy, Shae, and Otto, which are different from each other while representing the future of virtual assistants.

According to the report, one of the major drivers for this market is Demand for enhanced customer service. Businesses and enterprises are demanding enhanced software and technology to offer enriched and high-quality customer support. This is mainly to improve the market value of the enterprises by improving the overall customer experience with their business operations. Many organizations are adopting intelligent virtual assistants to deliver an intuitive and automated experience for all the enterprises digital channels while engaging the customers over natural conversations using text or voice. A virtual assistant offers customers a consistent experience using any digital channels such as a website, an app, or a text messaging application.

Further, the report states that one of the major factors hindering the growth of this market is Technical concerns. Virtual assistants have gained popularity by extending the reach of customer interactions while boosting agent productivity and reducing the average handle time. Despite the obvious benefits of using intelligent virtual assistants, the technical challenges that the virtual assistant face limit their success. Virtual assistants face a lack of accuracy and personalization issues as they use rigorous optimization, which involves both human and machine learning. To overcome this problem, a virtual assistant must allow customers to use natural language, which includes the use of slang, typos, unstructured content, and complex grammar. It should also be able to guide customers through a step-by-step process. Some of the virtual assistants in the market also face a lack of behavioral targeting issues and have difficulty engaging the consumers.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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  • Apple
  • eGain
  • Google
  • Microsoft
  • Nuance Communications
  • [24]7
  • Anboto
  • Amazon
  • Creative Virtual
  • CX Company
  • Ecreation
  • H-care
  • Inbenta
  • IBM
  • Next IT
  • Oracle
  • Synthetix
  • True Image Interactive
  • Viclone
Note: Product cover images may vary from those shown
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