What is Digital Human Avatar?
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.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | 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) |
CAGR | 47.01% |
The study covers a detailed analysis segmented by key business segments i.e. 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 major geographies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Digital Human Avatar market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Digital Human Avatar market report suggests strategies that Players can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Players, some of them are 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).
Market Overview:
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.
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.
Influencing Trend:
Realistic gaming is driving up demand in the gaming industry. and High Demand for Interactive Digital Human Avatars Due to the Growing Popularity of AI Avatars in Mobile Communication
Market Growth Drivers:
Increasing attempts by customer-centric businesses to give customers an emotionally engaging experience and The rise in the number of call centers
Challenges:
Technological Complections and Lack of Awareness underdeveloped countries
Restraints:
High cost associated with digital human avatar
Opportunities:
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. and High Adoption due to The power and accuracy of generative AI
Key highlights of the Global Digital Human Avatar market Study:
CAGR of the market during the forecast period 2022-2028
In-depth information on growth factors that will accelerate the Digital Human Avatar market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Digital Human Avatar market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Players
Comprehensive information about factors that will challenge the growth of Digital Human Avatar Players
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Digital Human Avatar market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Digital Human Avatar market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Digital Human Avatar Developers, Private Research Organization, Government Research Organizations, Consultancies, Regulatory Bodies and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.