In a recent published report, Kenneth Research has updated the market report for Virtual Personal Assistants (VPA) Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Virtual Personal Assistants (VPA) Market products.
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Kenneth Research, in its repository of market research reports, have recently added a report on Virtual Personal Assistants (VPA) Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2021 2030. The Virtual Personal Assistants (VPA) Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide.
According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017. Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.
A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the analysis of Global Virtual Personal Assistants Market. The report analyzes the Global Virtual Personal Assistants Market By Product Type (Chatbots and Smartspeakers) and By Application (Text/Online Chat and Voice), By Mode of Interaction (BFSI, E-commerce, Government, IT & Telecom, Personal, Others). The Global Virtual Personal Assistants Market has been analyzed By Region (North America, Europe, APAC, ROW) and By Country (US, Canada, Germany, France, UK, China, Japan, India, Brazil, Mexico) for the historical period of 2014-2018 and the forecast period of 2019-2024.
According to Azoth Analytics research report “Global Virtual Personal Assistants (VPA) Market – Analysis By Product Type (Chatbots, Smart speakers), Mode of Interaction (Online Chat, Voice), By Application (BFSI, E-commerce, Government, IT and Telecom, Personal, Others), 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)”, global market is projected to display a robust growth represented by a CAGR of 33.74% during 2019 – 2024.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Smart speakers and Voice virtual assistants are the segments that have been witnessing growth at a noteworthy rate over the past few years owing to increasing adoption of voice assistants by major corporate houses and Ecommerce companies who are focusing on maintaining a healthy relation with their customers by timely addressing their queries supported by powering millennial population and growth internet access to users. Amongst the regions, North America accounts for the largest regional share in the Global Virtual Personal Assistants Market in 2019. Key factors driving the robust growth rate in North America region include rapid adoption of latest technology by major tech giants in the region backed with growing prevalence of smart homes technology which directly impact the market for virtual Assistants, thereby anticipated to infuse positive growth in the region during the forecasting period.
The report titled “Global Virtual Personal Assistants (VPA) Market – Analysis By Product Type (Chatbots, Smart speakers), Mode of Interaction (Online Chat, Voice), By Application (BFSI, E-commerce, Government, IT and Telecom, Personal, Others), 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)” has covered and analyzed the potential of Global Virtual Personal Assistants Market and provides statistics and information on market size, share and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the Global Virtual Personal Assistants Market. Additionally, the report also highlights market entry strategies for various companies across the globe.
Scope of the Report
Global Virtual Personal Assistants Market (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Global Virtual Personal Assistants Market – Size, Growth, Forecast
• By Product Type – Chatbots, Smartspeakers
• By Mode of Interaction – Text/Online Chat, Voice
• By Application – BFSI, E-commerce, Government, IT & Telecom, Personal, Others
Regional Markets – North America, Europe, APAC and Rest of the World (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Regional Virtual Personal Assistants Market – Size, Growth, Forecast
• By Product Type – Chatbots, Smartspeakers
• By Mode of Interaction – Text/Online Chat, Voice
• By Application – BFSI, E-commerce, Government, IT & Telecom, Personal, Others
Country Analysis – US, Canada, Germany, France, UK, China, Japan, India, Brazil, Mexico (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Virtual Personal Assistants Market – Size and Growth
• By Product Type – Chatbots, Smartspeakers
• By Mode of Interaction – Text/Online Chat, Voice
• By Application – BFSI, E-commerce, Government, IT & Telecom, Personal, Others
Other Report Highlights
• Market Dynamics – Drivers and Restraints
• Market Trends
• SWOT Analysis
• Competitive Landscape
• Company Analysis – Microsoft Corporation, Nuance Communications, Samsung Electronics, Alphabet Inc, Apple, Amazon.com, International Business Machines (IBM), Baidu, Oracle Corporation, Inbenta Technologies.
Customization of the Report
The report could be customized according to the client’s specific research requirements. No additional cost will be required to pay for limited additional research.
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