The global smart virtual personal assistants market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe, according to XYZ Research which released the report.
Smart virtual personal assistants are making inroads into popular use on mobile phones, gaming Apps, e-Commerce websites, online portals, translation devices, navigation tools, among others.
Smart virtual personal assistants are also termed as an intelligent personal assistant that understands natural language voice commands and perform a task for a user.
“The factors that are playing a major role in the growth of smart virtual personal assistants market are the rising incorporation of the artificial intelligence (Al), the rising acceptance of the latest technology among the populace, easy management, and the high demand from the end-users”, according to authors of the study.
They also explain that the presence of alternatives may restrain the overall market growth in the years to come. Smart virtual personal assistants market is segmented based on the mode of interaction, application, and region.
“Taking and uploading pictures, text/online chat, and voice are the mode of interactions that could be explored in smart virtual personal assistants market in the forecast period. The market may be categorized based on applications like navigation tools, e-commerce website, a gaming application, apps, translation devices, online portals, mobile phones, and others that could be explored in smart virtual personal assistants in the forecast period.
XYZ Research says that smart virtual personal assistants market is segmented geographically into Americas (North America, South America), Europe (Eastern Europe, Western Europe), Asia Pacific (India, China, Japan, New Zealand, and Australia), Middle East (UAE, Saudi, and Qatar) and Africa (South Africa).
“Globally, North America accounted for the substantial share of smart virtual personal assistants market and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the rising use of enhanced technology, the presence of developed IT infrastructure and key providers in the region, and the high demand from the end-users according to the study.
It says that “United States is a major consumer of smart virtual personal assistants in the region. Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The developing countries like India and China are the major consumers of smart virtual personal assistants in this region.”