Yahoo Entertainment Virtual Assistant Market size to grow by USD 4.12 Bn| Insights on Key Drivers, Trends, and Products Offered by Major Vendors | Technavio
This 120-page report and TOC analyzes the virtual assistant market by end-user (automotive, BFSI, government, retail, and others), type (spoken commands and text-to-speech), and geography (North America, APAC, Europe, South America, and MEA).
NEW YORK, June 20, 2022 /PRNewswire/ -- The global Virtual Assistant Market size is expected to grow by USD 4.12 billion, at a CAGR of 11.79% during the forecasted period, according to Technavio's latest market report.
The automotive segment will generate maximum revenue in the virtual assistant market, owing to the increasing investments by carmakers to provide better user experiences. In terms of geography, APAC will present significant opportunities for market vendors due to the increased adoption of chatbots in healthcare, BFSI, and travel industries in the region.
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Virtual Assistant Market: Major Growth Drivers
The following factors are expected to drive the growth of the market during the forecast period:
Increasing demand for advanced customer services and advanced software
Demand for enhanced customer service
Smartphones with intelligent virtual assistants supporting human interactions
In addition, the report identifies the benefits offered to content consumers, owners, and publishers as a major trend in the virtual assistant market. People with disabilities find it difficult to read enormous amounts of text or data. This has increased the adoption of virtual assistants to provide easy access to website content to help such users.
Virtual assistants also provide users the option to listen to the content rather than read the content online, which enhances convenience as well as user engagement. This trend is expected to provide significant growth opportunities to vendors during the forecast period.
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Virtual Assistant Market: Key Vendor Offerings
Alphabet Inc.: The company offers Google Assistant. It can make calls and send messages by reading human speech.
Amazon.com Inc.: The company offers the Amazon Virtual Assistant. It provides administrative support to business owners online/offsite.
Apple Inc.: The company offers Siri. It helps users take calls or send texts without a touch.
CX Co.: The company offers chatbots, intelligent virtual assistants,s and other products.
eGain Corp.: The company offers eGain Virtual Assistant. It is a chatbot.
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Reasons to Buy Virtual Assistant Market Report:
CAGR of the market during the forecast period
Detailed information on factors that will assist virtual assistant market growth during the next five years
Estimation of the virtual assistant market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the virtual assistant market across North America, APAC, Europe, South America, and MEA
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of virtual assistant market vendors
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Virtual Assistant Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 11.79% |
Market growth 2021-2025 | $ 4.12 billion |
Market structure | Fragmented |
YoY growth (%) | 7.65 |
Regional analysis | North America, APAC, Europe, South America, MEA, North America, APAC, Europe, South America, and MEA |
Performing market contribution | APAC at 40% |
Key consumer countries | US, China, UK, Japan, and Germany |
Competitive landscape | Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled | Alphabet Inc., Amazon.com Inc., Apple Inc., CX Co., eGain Corp., International Business Machines Corp., Nuance Communications Inc., Oracle Corp., Synthetix Ltd., and VA Company LLC |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
2 Market Landscape
2.1 Market ecosystem
2.2 Value chain analysis
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2020
3.4 Market outlook: Forecast for 2020 - 2025
4 Five Forces Analysis
4.1 Five forces analysis 2020 & 2025
4.2 Bargaining power of buyers
4.3 Bargaining power of suppliers
4.4 Threat of new entrants
4.5 Threat of substitutes
4.6 Threat of rivalry
4.7 Market condition
5 Market Segmentation by End-user
5.1 Market segments
5.2 Comparison by End-user
5.3 Automotive - Market size and forecast 2020-2025
5.4 BFSI - Market size and forecast 2020-2025
5.5 Government - Market size and forecast 2020-2025
5.6 Retail - Market size and forecast 2020-2025
5.7 Others - Market size and forecast 2020-2025
5.8 Market opportunity by End-user
6 Market Segmentation by Type
6.1 Market segments
6.2 Comparison by Type
6.3 Spoken commands - Market size and forecast 2020-2025
6.4 Text-to-speech - Market size and forecast 2020-2025
6.5 Market opportunity by Type
7 Customer Landscape
8 Geographic Landscape
8.1 Geographic segmentation
8.2 Geographic comparison
8.3 North America - Market size and forecast 2020-2025
8.4 APAC - Market size and forecast 2020-2025
8.5 Europe - Market size and forecast 2020-2025
8.6 South America - Market size and forecast 2020-2025
8.7 MEA - Market size and forecast 2020-2025
8.8 Key leading countries
8.9 Market opportunity by geography
9 Drivers, Challenges, and Trends
9.1 Market drivers
9.2 Market challenges
9.3 Market trends
10 Vendor Landscape
10.1 Overview
10.2 Vendor landscape
10.3 Landscape disruption
11 Vendor Analysis
11.1 Vendors covered
11.2 Market positioning of vendors
11.3 Alphabet Inc.
11.4 Amazon.com Inc.
11.5 Apple Inc.
11.6 CX Co.
11.7 eGain Corp.
11.8 International Business Machines Corp.
11.9 Nuance Communications Inc.
11.10 Oracle Corp.
11.11 Synthetix Ltd.
11.12 VA Company LLC
12 Appendix
12.1 Scope of the report
12.2 Currency conversion rates for US$
12.3 Research methodology
12.4 List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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