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– Application of software in banking & financial services and retail shopping to spur sales in intelligent virtual assistant market; speech recognition tools find substantial business value in healthcare industry
– Companies leaning on innovation in TTS technology, and integrating AI and ML to improve speech accuracy; Asia Pacific and Europe to witness massive avenues
ALBANY, N.Y., Feb. 11, 2022 /PRNewswire/ — The use of speech recognition tools has been steadily rising in several networking applications notably in financial services, retail sector, and healthcare industry. Providers of text-to-speech (TTS) software have reaped significant revenue gains from the demand for intelligent virtual assistant for wireless devices and consumer electronics for reading text content in websites. The intelligent virtual assistant market is projected to reach US$ 50.9 Bn by 2030.
In recent years particularly in the South Asian Association for Regional Cooperation (SAARC), speech recognition software has been extensively used by the elderly and the individuals with mobility impairments. Globally, voice-controlled devices have gained popularity among customers for shopping, thus offering substantial sales opportunities for companies in the intelligent virtual assistant market, finds an in-depth TMR study.
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Businesses are leveraging AI (artificial intelligence)-based digital assistants for automating and simplifying various office tasks including data entry processes. Companies are witnessing new profitable opportunities in using these for automating meetings’ scheduling and recording. Widespread demand for TTS software in automotive systems and mobile devices is reinforcing the revenue growth, notes the study on the global intelligent virtual assistant market.
Key Findings of Intelligent Virtual Assistant Market Study
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Intelligent Virtual Assistant Market: Key Drivers
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Intelligent Virtual Assistant Market: Regional Growth Dynamics
Intelligent Virtual Assistant Market: Key Players
Some of the key players in the intelligent virtual assistant market are
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Global Intelligent Virtual Assistant Market: Segmentation
Intelligent Virtual Assistant Market, by Technology
Intelligent Virtual Assistant Market, by Application
Intelligent Virtual Assistant Market, by End User
Intelligent Virtual Assistant Market, by Region
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