Global Virtual Personal Assistants (VPA) Market to Register 33.74% CAGR Over 2019-2024

July 29, 2020

As per the report titled ‘Global Virtual Personal Assistants (VPA) Market - By Product, Application, By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024)-- By Region (North America, Europe, APAC, ROW), By Country available with Market Study Report LLC, global virtual personal assistants (VPA) market is expected to show rapid growth, expanding with a CAGR of 33.74% over 2019-2024.

Based on the product landscape, global virtual personal assistants (VPA) market is divided into chatbots and smart speakers. The latter segment registered notable growth in the previous years owing to rising adoption of voice assistants by corporate companies and E-commerce sector to maintain healthy customer relationship and sort out the queries by millennial population and increased internet access to the users.

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On the basis of mode of interaction, the market is segmented into online chat and voice. Moving on to the application spectrum, global virtual personal assistants (VPA) market is bifurcated into BFSI, government, E-commerce, personal, IT and telecom, and others.

Considering the regional landscape, global virtual personal assistants (VPA) market is categorized into APAC, North America, Europe, and ROW. Among these, North America held majority market share in the year 2019 owing to widespread adoption of modern-day technology by tech giants coupled with increasing pervasiveness of smart homes technology.

Major companies operating in global virtual personal assistants (VPA) market are Microsoft Corporation, Samsung Electronics Co., Ltd., Nuance Communications, Apple Inc., Alphabet Inc., International Business Machines Corporation,, Inc., Oracle Corporation, Baidu, Inc., and Inbenta Technologies.

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