Digital Human Avatar Market Scope
In the forecasted period, increasing efforts by customer-centric firms to provide more emotionally engaging and immersive experiences to customers, a growing focus among companies on providing 24/7 serviceability to customers, and the growing media & entertainment industry will all help to boost the global Digital Human Avatar market. AI avatars, also known as digital avatars, are human-like bots built using AI technology in order to promote human contact. Digital avatars can speak with people using Natural Language Processing (NLP) techniques, in addition to having a humanoid look. NLP algorithms, picture recognition tools, VR/AR, and 3D animation technologies are all utilized in the creation of an AI avatar. Following the creation of an AI avatar, it learns from both its creators and end-users. A digital avatar learns through the algorithms and rules specified by its creators, but it also learns from its interactions with users.
According to AMA, the Global Digital Human Avatar market is expected to see growth rate of 47.01%
Mergers and acquisitions, expansions, investments, new service launches, and collaborations are among the companies' favoured techniques for exploring the market. Synthesia's AI Avatar technology, which allows users to build fully voiced photorealistic avatars with a simple text request, has received a USD 50 million investment from Kleiner Perkins and GV (Formerly Google Ventures). Synthesia can be utilised to make business movies for training, promotion, and other purposes using these avatars. Nvidia, the graphics card titan, just introduced Omniverse Avatar, their entry into the AI Avatars industry. Photorealistic avatars like Project Maxine and 3D cartoon avatars like ToyMe are part of the Omniverse Avatar project. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Digital Human Avatar market throughout the predicted period.
UneeQ (United States), Microsoft Corporation (United States), Didimo Inc. (Portugal), Wolf3D (Poland), HOUR ONE AI (Israel), Spatial Systems, Inc. (United States), CARV3D (India), DeepBrain AI (South Korea), Soul Machines (New Zealand) and Synthesia Ltd. (United Kingdom) are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Digital Human Avatar market by Type (Interactive Digital Human Avatar and Non-Interactive Digital Human Avatar), by Application (learning and training, ergonomic work environments, Architectural simulation, Computer games, Virtual-Conferencing, Virtual psychotherapies and Others) and Region with country level break-up. On the basis of Type, Interactive Digital Human Avatar are dominating the market in the year 2021
On the basis of application, IT & telecommunications segment is dominating the market in the year 2021
On the basis of geography, the market of Digital Human Avatar has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2021. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
On 23rd March 2022, Soul Machines has been approved for a patent pertaining to its Digital DNA blending technology and asserts its leadership in the autonomous animation of avatars in 2D and 3D virtual spaces. The Digital DNA™ blending technology allows creating of highly photorealistic animations of digital people that empathetically interact with customers in a meaningful way, increasing brand affinity, customer engagement, and loyalty.
On 16th September 2021, Deepbrain AI (formerly Moneybrain), a conversational AI startup based in Seoul, South Korea, raised USD44 million in a Series B round led by Korea Development Bank at a post-money valuation of USD180 million. and In August 2021, DeepBrain AI, which is a Seoul, South Korea, based startup engaged in providing conversational AI-based solutions, made an announcement about raising USD 44 million in a Series B round which would be used to expand the company’s global customer base and operations worldwide, with a focus on the US.
- Realistic gaming is driving up demand in the gaming industry.
- High Demand for Interactive Digital Human Avatars Due to the Growing Popularity of AI Avatars in Mobile Communication
- Increasing attempts by customer-centric businesses to give customers an emotionally engaging experience
- The rise in the number of call centers
- A virtual Artificial Intelligence (AI) avatar is equipped with a wealth of data that, when analyzed using pre-programmed algorithms, allows it to address any dispute or query that a consumer may have.
- High Adoption due to The power and accuracy of generative AI
- High cost associated with digital human avatar
- Technological Complections
- Lack of Awareness underdeveloped countries
Analyst ViewThese Digital Human Avatars are still in their nascent stage. Suppliers like Neon have stated their intentions to develop digital beings who can act freely and befriend the end-user. Innovations such as creating a design with human realistic skin that makes them indistinguishable from humans in appearance, expanding emotional quotient by extending the range of emotions that can be interpreted and expressed by these solutions, and developing no-code Digital Human Avatar that will enable businesses to customise and create characters at their end without vendor support could have a significant impact on this segment in the future. This segment is expected to grow significantly, with key growth focused around pharmaceuticals, sales and financial services in the immediate future.
Key Target AudienceDigital Human Avatar Developers, Private Research Organization, Government Research Organizations, Consultancies, Regulatory Bodies and Others
Frequently Asked Questions (FAQ):
1. What are the key segments playing vital role in Digital Human Avatar Market?
The Digital Human Avatar study can be customized to meet your requirements. The market size breakdown by type [Interactive Digital Human Avatar and Non-Interactive Digital Human Avatar], by end use application [learning and training, ergonomic work environments, Architectural simulation, Computer games, Virtual-Conferencing, Virtual psychotherapies and Others].
2. How big is the Digital Human Avatar Market?
The Digital Human Avatar Market is gaining popularity and expected to see strong valuation by 2027 and may reach USD Million .
3. What is expected growth rate in Digital Human Avatar Market?
According to AMA, the Global Digital Human Avatar market is expected to see growth rate of 47.01%.