Virtual Assistant Market size to grow by USD 4.12 Bn| Insights on Key Drivers, Trends, and Products Offered by Major Vendors | Technavio – PR Newswire

Searching for your content…
In-Language News
Contact Us
from 8 AM – 10 PM ET
News provided by
Jun 20, 2022, 04:00 ET
Share this article
This 120-page report and TOC analyzes the virtual assistant market by end-user (automotive, BFSI, government, retail, and others), type (spoken commands and text-to-speech), and geography (North America, APAC, Europe, South America, and MEA).
NEW YORK, June 20, 2022 /PRNewswire/ — The global Virtual Assistant Market size is expected to grow by USD 4.12 billion, at a CAGR of 11.79% during the forecasted period, according to Technavio’s latest market report.
The automotive segment will generate maximum revenue in the virtual assistant market, owing to the increasing investments by carmakers to provide better user experiences. In terms of geography, APAC will present significant opportunities for market vendors due to the increased adoption of chatbots in healthcare, BFSI, and travel industries in the region.
For more insights on YOY and CAGR, Get a Sample Report Delivered Instantly
The following factors are expected to drive the growth of the market during the forecast period:
In addition, the report identifies the benefits offered to content consumers, owners, and publishers as a major trend in the virtual assistant market. People with disabilities find it difficult to read enormous amounts of text or data. This has increased the adoption of virtual assistants to provide easy access to website content to help such users.
Virtual assistants also provide users the option to listen to the content rather than read the content online, which enhances convenience as well as user engagement. This trend is expected to provide significant growth opportunities to vendors during the forecast period.
The report helps businesses create strategies to make the most of future growth opportunities. Grab a Sample Report Now!
Find additional highlights on the growth strategies adopted by vendors and their product offerings, Read Sample Report.
This report can be personalized according to your business needs. Speak to an analyst now!
Product Information Management Market by Deployment and Geography – Forecast and Analysis 2022-2026
Test Data Management Market by Application, Component, and Geography – Forecast and Analysis 2022-2026
Virtual Assistant Market Scope
Report Coverage
Page number
Base year
Forecast period
Growth momentum & CAGR
Accelerate at a CAGR of 11.79%
Market growth 2021-2025
$ 4.12 billion
Market structure
YoY growth (%)
Regional analysis
North America, APAC, Europe, South America, MEA, North America, APAC, Europe, South America, and MEA
Performing market contribution
APAC at 40%
Key consumer countries
US, China, UK, Japan, and Germany
Competitive landscape
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Alphabet Inc., Inc., Apple Inc., CX Co., eGain Corp., International Business Machines Corp., Nuance Communications Inc., Oracle Corp., Synthetix Ltd., and VA Company LLC
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
SOURCE Technavio
More news releases in similar topics
Cision Distribution 888-776-0942
from 8 AM – 9 PM ET


Hire me on the World’s Leading Online Marketplace to design your website. Additional services like- graphic design, virtual assistance, SEO, Data entry, etc are available. Click on This Link to start your project

Write a comment