Virtual Assistant Market size to grow by USD 26,945.07 million from 2022 to 2027; Growth driven by the growing need for automated medical transcripts - Technavio
NEW YORK, May 31, 2023 /PRNewswire/ -- The virtual assistant market size is set to grow by USD 26945.07 million from 2022 to 2027 progressing at a CAGR of 37.29% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the demand for enhanced customer service. Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and the forecast period (2023-2027). Download Sample Report in minutes!
The report on the virtual assistant market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.
Virtual Assistant Market 2023-2027 - Market Dynamics
Virtual Assistant Market 2023-2027: Market Segmentation
The virtual assistant market is segmented by type (spoken commands and text-to-speech), end-user (automotive, BFSI, government, retail, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa).
The market share growth by the spoken commands segment will be significant during the forecast period. The spoken commands segment was valued at USD 1,076.22 million in 2017 and continue to grow by 2021. The increasing adoption of smartphones across the world, along with the integration of advanced technology, is expected to drive the growth of the global virtual assistant market through the spoken commands segment.
By geography, North America is estimated to contribute 39% to the growth of the global market during the forecast period. North America has a higher inclination toward the use of high-end technology products and services because of the availability of high-end services and higher disposable incomes in the region. Hence, it can easily adapt to technological changes.
Insights on the market contribution of various segments, including country- and region-wise data, historic data (2017 to 2021), and forecast market size (2023 to 2027) View Sample Report
The virtual assistant market covers the following areas:
Virtual Assistant Market Sizing
amazon.com- The company offers virtual assistant namely Alexa.
anbotogroup.com- The company offers virtual assistant namely Anboto Virtual Assistant.
apple.com- The company offers virtual assitant namely Siri.
Workforce Analytics Market- The workforce analytics market is estimated to grow at a CAGR of 15.42% between 2022 and 2027. The market size is forecasted to increase by USD 1,858.84 million.
3D CAD Software Market- The 3D computer-aided design (CAD) software market size is estimated to decline at a CAGR of 6.72% between 2022 and 2027. The market size is forecast to increase by USD 3,512.43 million.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
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