Global Smart Virtual Personal Assistants Market Overview:
Since the adoption of artificial intelligence has been increased over the past decade with the assistance of strong analytics has created a number of opportunities in signing and developing reminder alarms, priorities & scheduling work, e-mail management process, and much more. Thus, the demand for smart virtual personal assistants will grow significantly over the forecasted period. In addition to this, increasing adoption of IoT (pervasive computing) will act as one of the latest emerging trends which have generated certain new opportunities for the Machine to human (M2H) and machine to machine (M2M) interaction. Smart virtual personal assistance software provides numerous solutions as well as performs tasks for human beings. These systems enable consumers to use smart machine technology which assists users to interact with the systems by giving inputs in the form of voice, text or an image. Some of the key players profiled in the study are Amazon.com, Inc. (United States), Apple Inc. (United States), Oracle Corporation (United States), Artificial Solutions (Sweden), Creative Virtual Ltd. (United Kingdom), SK Telecom Co, Ltd. (South Korea), Facebook, Inc. (United States), Intel Corporation (United States), Microsoft Corporation (United States) and IBM Corporation (United States). According to Market Analyst at AMA, the Global Smart Virtual Personal Assistants market may see a growth rate of 27.62% and would reach the market size of USD4147.34 Million by 2024.
On the basis of geography, the market of Smart Virtual Personal Assistants 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). If we see Market by Technology, the sub-segment i.e. Text-To-Speech will boost the Smart Virtual Personal Assistants market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use Industry, the sub-segment i.e. E-Commerce Websites will boost the Smart Virtual Personal Assistants market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Private will boost the Smart Virtual Personal Assistants market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Provides Ability to Understand Information in Written or Spoken Data which is not saved in the Digital Mode
- Growing Applications of Artificial Intelligence in Human Assistance
- Growing Adoption of Highly Advanced Automated Assistance
- Continues Enhancements in the Mode of Communication
- Comparatively Higher Initial Investments
- Lack of Product Awareness in the Underdeveloped Regions
- Rising Applications of Smart Assistance Systems in E-commerce and Gaming Application
- Continues Technological Developments and Continues Research and Development
- Skilled Workforce Required in Developing Smart Virtual Personal Assistants
Major Market Developments:
On February 20, 2019, Technology giant, "Apple Inc." has planned to buy Pullstring, a voice application company based in San Francisco, for an undisclosed sum. Moreover, pullstring was founded in 2011 by former Pixar executives for enhanced computer-based conversations and is backed by Greylock Partners, Charles River Ventures, Khosla Ventures, True Ventures, and First Round Capital among others,
Target Audience:Smart Virtual Personal Assistants System Manufacturers, Smart Virtual Personal Assistants Designers and Developers, Smart Virtual Personal Assistants Service Providers, Upstream and Downstream Buyers, Venture Capitalist, Research and Development Institutes and Others
Major Objectives Focused through this Study To define, describe, and forecast the Global Smart Virtual Personal Assistants market on the basis of product [Voice, Text/Online Chat, Taking and Uploading Pictures and Others] , application [Mobile Phones, Gaming Application, E-Commerce Website, Online Portals, Translation Devices and Navigation Tools], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Smart Virtual Personal Assistants market with respect to major geographies, namely, 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)
To strategically profile the key players and analyzing their market shares and core competencies in the Smart Virtual Personal Assistants industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Inteliwise (Poland), Nuance Communications, Inc. (United States) and 24me Ltd. (Israel).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Smart Virtual Personal Assistants market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.