November 06, 2019
According to the latest study titled ‘Global Virtual Personal Assistants (VPA) Market - By Product (Chatbots, Smart speakers), Interaction (Online Chat, Voice), Application (BFSI, E-commerce, Government, IT and Telecom, Personal), By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024)-- By Region (North America, Europe, APAC, ROW), By Country (US, Canada, Germany, France, UK, China, Japan, India, Brazil, Mexico)’ available at MarketStudyReport.com, the global virtual personal assistants market is estimated to grow with a CAGR of 33.74% through 2024.
Virtual personal assistant is basically an application program designed to understand voice commands. A virtual assistant performs functions such as checking the operations of smart home devices, adding tasks, scheduling, etc. Adoption of voice assistants by major corporate companies and the robust penetration of smart home technology are driving the growth of virtual personal assistant market.
The study encompasses details about segmental shares, and expansion strategies adopted by manufacturers, alongside the challenges, drivers, trends, and restraints impacting the market growth.
Based on product type, the virtual personal assistants market is segmented into chatbots, and smart speakers. While based on mode of interaction, the industry is divided into text or online chat, voice. Speaking of application spectrum, the virtual personal assistants is split into personal, government, BFSI, e-commerce, IT & Telecom, and others.
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Considering the geographical landscape, the virtual personal assistants market is fragmented into four major regions such as Europe, North America, APAC and the rest of the world, with a key focus on countries like Canada, US, France, Germany UK, Japan, China, India, Brazil, and Mexico. North America registered the largest share in the virtual personal assistants market in 2019, claims the report.
The global leading players in the market are Inbenta Technologies, Nuance Communications, Microsoft Corporation, Samsung Electronics, Amazon.com, Baidu, Apple, International Business Machines (IBM), Oracle Corporation, and Alphabet Inc.
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