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Emergence of New Virtual Assistant Market To Grow at a CAGR of 11.60% during the period 2017-2021

Press Release   •   Aug 21, 2017 07:13 EDT

About Virtual Assistant
Virtual assistants exist in cyberspace and are digital entities that help users accomplish tasks. Virtual assistants are present on websites and mobile computing devices. An intelligent virtual assistant refers to an entity that is intelligent and independent with an accurate knowledge. The virtual assistant uses the features of artificial intelligence technology to help people carry out any particular type of work easily. They answer the queries of the users and provide the required information. Customers visit the websites of companies and enterprises at any time of the day, and virtual assistants act as their dynamic and intelligent personal assistants. They guide the customers with the right solutions such as taking the users to a web page and providing information on products and services as requested by the users. A virtual assistant also offers text chat while reducing time lost in searching right information on the Internet.
Technavios analysts forecast the global virtual assistant market to grow at a CAGR of 11.60% during the period 2017-2021.
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Covered in this report
The report covers the present scenario and the growth prospects of the global virtual assistant market for 2017-2021. To calculate the market size, the report considers the revenue generated from the text-to-speech and spoken commands market to calculate the market for global virtual assistants.

The market is divided into the following segments based on geography:




Technavio's report, Global Virtual Assistant Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors





Nuance Communications

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Other prominent vendors




Creative Virtual

CX Company





Next IT



True Image Interactive


Market driver

Demand for enhanced customer service

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Market challenge

Technical concerns

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Market trend

Emergence of new virtual assistants in the market

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Key questions answered in this report

What will the market size be in 2021 and what will the growth rate be?

What are the key market trends?

What is driving this market?

What are the challenges to market growth?

Who are the key vendors in this market space?

What are the market opportunities and threats faced by the key vendors?

What are the strengths and weaknesses of the key vendors?

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