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.According to AMA, the market for Smart Virtual Personal Assistants is expected to register a CAGR of 27.62% during the forecast period to 2026. This growth is primarily driven by Provides Ability to Understand Information in Written or Spoken Data which is not saved in the Digital Mode and Growing Applications of Artificial Intelligence in Human Assistance.
Globally, a noticeable market trend is evident Growing Adoption of Highly Advanced Automated Assistance
. The Sensor Systems sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as 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) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
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,
- 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
OpportunitiesRising Applications of Smart Assistance Systems in E-commerce and Gaming Application and Continues Technological Developments and Continues Research and Development
ChallengesSkilled Workforce Required in Developing Smart Virtual Personal Assistants
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the ReportAMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Smart Virtual Personal Assistants Study Sheds Light on The Smart Virtual Personal Assistants Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Smart Virtual Personal Assistants industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Smart Virtual Personal Assistants industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.