The global smart virtual personal assistants market is expected to display higher growth rate over the next seven years. Rapid surge in smart virtual personal assistants (VPA) industry is credited to the rising sales of smart phones across the globe, and growing focus towards M2M (machine to machine) and M2H (machine to human) interaction services. Increasing popularity of strong analytic solutions to assist humans in various day to day activities and launch of virtual personal assistant-enabled smart devices are expected to drive the market growth of smart virtual personal assistants over the forecast period.
Rising demand for smart virtual personal assistants to carry out e-mail management process, generating reminders alarms, priorities & scheduling work, etc. is further propelling the growth of smart virtual personal assistants market over the past few years. Furthermore, growing popularity of virtual personal assistants in emerging economies is key factor fostering market growth over the forecast period. Globally, smart virtual personal assistants industry is predicted to generate massive revenue over the next seven years, providing numerous opportunities for industry participants to invest in research and development of smart virtual personal assistants.
Smart virtual personal assistants also referred as a dialog system or chat bot, is a type of system that is meant to interact with humans along with a comprehensible structure or framework. These systems are equipped with transcript, vice-enabled, visuals, haptics, gesticulates and other type of interaction between input and output channels. The commonly utilized graphical user interfaces (GUIs) provide dialog in trivial state in comparison with the fully fledged conversational providing numerous advantages over typical GUI wizard systems.
The smart virtual personal assistants (VPA) market is broadly categorized into major segments based on the application type such as e-commerce website, mobile apps, online portals, mobile phones, translation devices, gaming application and navigation tools. E-commerce website segment is growing rapidly in the smart virtual personal assistants industry with substantial revenue generation in the last few years.
The smart virtual personal assistants market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies, surge in number of research & development activities and existence of well-established IT infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth.
Asia-Pacific region is estimated to hold a major market share in the smart virtual personal assistants with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, rising smart phone penetration, development of several smart phone devices such as tablets, laptops, wearable electronic devices and smart home devices, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the smart virtual personal assistants industry are Amazon.com, Inc., Apple Inc., Oracle Corp., Artificial Solutions, Inc., Creative Virtual Ltd., SK Telecom Co., Ltd., Facebook, Inc., Intel Corp., Microsoft Corp., IBM Corp., Nuance Communications, Inc., 24me Ltd., and InteliWISE S.A.
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (M USD), market share and growth rate of Smart Virtual Personal Assistants in these regions, from 2012 to 2023 (forecast), covering
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Columbia)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Global Smart Virtual Personal Assistants market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
• Artificial Solutions
• SK Telecom
• Intel Corporation
• IBM Corporation
• Oracle Corporation
• Creative Virtual
• Microsoft Corporation
• Nuance Communications
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
• Text/Online Chat
• Taking and Uploading Pictures
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Smart Virtual Personal Assistants for each application, including
• Mobile Phones
• Gaming Application
• E-Commerce Website
• Online Portals
• Translation Devices
• Navigation Tools
Research Support Specialist, USA