According to a new market report published by Lucintel, the future of the intelligent virtual assistant market looks promising with opportunities in the BFSI, automotive, healthcare, consumer electronics, IT & telecommunication, defense & government, retail, traveling & hospitality, media & entertainment industries. The global intelligent virtual assistant market is expected to grow with a CAGR of 38% from 2021 to 2026. The major drivers for this market are increasing adoption of IVA solutions, increasing adoption of smartphones, and increasing demand for automation in customer service.
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In this market, chatbots and smart speakers are the product types of intelligent virtual assistant market. Lucintel forecasts that chatbots will remain the largest segment due to the growing adoption in banking and insurance sectors, retail industry, and educational portals and highest adoption in the healthcare industry.
Within the intelligent virtual assistant market, consumer electronics will remain the largest end use industry during the forecast period due to high penetration of IoT and increasing demand in home automation system.
Asia Pacific will remain the largest region the forecast period due to high technological adoption of IVAs in industries and growing retail and consumer electronics sectors in China.
Alphabet Inc., Amazon.com, Inc., Apple Inc., Nuance Communications, Inc., Samsung Electronics Co., Ltd., IBM, Microsoft, Inbenta Technologies, Baidu, Blackberry are among the major intelligent virtual assistant manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global intelligent virtual assistant market by user interface, product, end use industry, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Intelligent Virtual Assistant Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global intelligent virtual assistant market by user interface, product type, end use industry, and region as follows:
By Product Type [$M shipment analysis for 2015 – 2026]:
By User Interface [$M shipment analysis for 2015 – 2026]:
Text-to-Speech
Speech Recognition
Text-Based
By End Use Industry [$M shipment analysis for 2015 – 2026]:
BFSI
Consumer Electronics
IT & Telecommunications
Defense & Government
Retail
Healthcare
Travelling & Hospitality
Automotive
Media & Entertainment
Others
By Region [$M shipment analysis for 2015 – 2026]:
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Asia Pacific
China
Japan
India
South Korea
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
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