Growing Smartphone Penetration to Boost Intelligent Virtual Assistant Market Growth
New York, USA, May 30, 2023 (GLOBE NEWSWIRE) — According to the research report published by Market Research Future (MRFR), “Intelligent Virtual Assistant Market Information By Technology, By Service, By Application And By Region – Market Forecast Till 2030”, the Intelligent Virtual Assistant Market could reach a value of USD 58.2 billion by 2030, exhibiting a CAGR of 25.30%.
Intelligent Virtual Assistants (IVAs) are becoming increasingly popular due to the growing penetration of smartphones and smart devices in the market. IVAs are digital assistants that can understand and interpret human language and perform tasks or services for individuals or organizations. These virtual assistants utilize artificial intelligence (AI) to provide personalized and context-aware responses to user queries.
The Intelligent Virtual Assistant Market is expected to witness significant growth in the coming years, driven by several factors such as:
1. Advancements in AI and natural language processing technologies
2. Increasing demand for automation and virtual customer support services
3. Rising adoption of smart home devices and IoT solutions
4. Growing need for efficient and personalized customer interactions
As more businesses and consumers recognize the benefits of IVAs in improving productivity, enhancing customer experience, and reducing operational costs, the demand for intelligent virtual assistants is expected to surge.
Impact on Individuals:
For individual consumers, the proliferation of intelligent virtual assistants means easier access to information, quicker task completion, and personalized recommendations. IVAs can help streamline daily tasks, manage schedules, and provide assistance in various aspects of life, making daily routines more efficient and convenient.
Impact on the World:
On a global scale, the widespread adoption of intelligent virtual assistants can revolutionize industries such as healthcare, customer service, education, and retail. IVAs have the potential to enhance customer service experiences, increase operational efficiency, and drive innovation across different sectors. By leveraging AI-powered virtual assistants, businesses can improve their competitive edge and deliver more personalized services to their customers.
Conclusion:
The intelligent virtual assistant market is poised for significant growth in the coming years, fueled by advancements in AI technology and the increasing demand for personalized, efficient customer interactions. As smartphone penetration continues to rise, the adoption of IVAs is expected to accelerate, shaping the way individuals and businesses interact with technology and services. With a projected market value of USD 58.2 billion by 2030, the future of intelligent virtual assistants looks promising, offering new opportunities for innovation and enhanced user experiences.
