The Global Intelligent Virtual Assistant Market is Expected to Grow at a CAGR of 38% by 2026

According to a new market report published by Lucintel, the future of the intelligent virtual assistant market looks promising with opportunities in the BFSI, automotive, healthcare, consumer electronics, IT & telecommunication, defense & government, retail, traveling & hospitality, media & entertainment industries. The global intelligent virtual assistant market is expected to grow with a CAGR of 38% from 2021 to 2026. The major drivers for this market are increasing adoption of IVA solutions, increasing adoption of smartphones, and increasing demand for automation in customer service.

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In this market, chatbots and smart speakers are the product types of intelligent virtual assistant market. Lucintel forecasts that chatbots will remain the largest segment due to the growing adoption in banking and insurance sectors, retail industry, and educational portals and highest adoption in the healthcare industry.

Within the intelligent virtual assistant market, consumer electronics will remain the largest end use industry during the forecast period due to high penetration of IoT and increasing demand in home automation system.

Asia Pacific will remain the largest region the forecast period due to high technological adoption of IVAs in industries and growing retail and consumer electronics sectors in China.

Alphabet Inc., Amazon.com, Inc., Apple Inc., Nuance Communications, Inc., Samsung Electronics Co., Ltd., IBM, Microsoft, Inbenta Technologies, Baidu, Blackberry are among the major intelligent virtual assistant manufacturers.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global intelligent virtual assistant market by user interface, product, end use industry, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Intelligent Virtual Assistant Market 2021-2026: Market Size, Trends and Growth Analysis”. This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global intelligent virtual assistant market by user interface, product type, end use industry, and region as follows:

By Product Type [$M shipment analysis for 2015–2026]:

Chatbots

Smart Speaker 

 

By User Interface [$M shipment analysis for 2015–2026]:

Text-to-Speech

Speech Recognition

Text-Based

 

By End Use Industry [$M shipment analysis for 2015–2026]:

BFSI

Consumer Electronics

IT & Telecommunications

Defense & Government

Retail

Healthcare

Travelling & Hospitality

Automotive

Media & Entertainment

Others

 

By Region [$M shipment analysis for 2015–2026]:

North America

United States

Canada

Mexico

 

Europe

Germany

United Kingdom

France

Italy

 

Asia Pacific

China

Japan

India

South Korea

 

The Rest of the World

This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.

About Lucintel

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. We offer market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due Diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.