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.

Technavio has announced its latest market research report titled Virtual Assistant Market by End-user, Type, and Geography - Forecast and Analysis 2021-2025
Technavio has announced its latest market research report titled Virtual Assistant Market by End-user, Type, and Geography - Forecast and Analysis 2021-2025

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.

  • 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.

Find additional highlights on the growth strategies adopted by vendors and their product offerings, Read Sample Report.

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

This report can be personalized according to your business needs. Speak to an analyst now!

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Virtual Assistant Market Scope

Report Coverage


Page number


Base year


Forecast period


Growth momentum & CAGR

Accelerate at a CAGR of 11.79%

Market growth 2021-2025

$ 4.12 billion

Market structure


YoY growth (%)


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., 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 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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