Digital Assistant Market Overview:
Consumer expectations are changing day by day, also they have a very little patience to get information. Consumers demand for quick answers which will match up to their expectations. According to IBM survey, 33% of millennials are willing to wait only1 to 3 minutes to get a response, 52% have hung up on a customer service call and 56% of millennials have switched from one company to another because of underwhelming customer service. To meet this demand enterprises came up with interactive voice response (IVR) systems which was cost efficient but had a negative impact on customer satisfaction. Enhanced customer experience is a key factor for every industry and 94% of marketers believe that personalization of the digital experience is critical to current and future success.
Conversational bots or digital assistance uses voice commands and chats with the user. It offers personalization features which enhances user experience and increases customer engagement compared to IVRs or other recommendation engines. Digital Assistant Market use artificial intelligence, natural language processing, machine learning, and cognitive assistance techniques. Digital assistants are used for discovering a product or service required, searching and recommending best possible services or products according to the requirement, purchasing and aftersales services. According to Gartner’s survey, 25% of customer service and support operations will integrate virtual customer assistant technology across engagement channels. The major challenge faced by the market will be managing and storing the huge volume data generated. Furthermore, data security and privacy issues may hamper the growth of the market.
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Major Key Players:
The prominent players in the digital assistant market are Apple Inc. (US), Microsoft Corporation (US), IBM Corporation (US), Samsung Corporation (South Korea), Google (US), Amazon Inc. (US), Facebook Inc. (US), Baidu Inc. (China), Nuance Communications (US), Cisco Systems Inc. (US), and Artificial Solutions (Spain) among others are profiled in Market Research Future analysis and are at the forefront of competition in the digital assistant market.
27 June 2018, German Autolabs launches Chris, a digital assistant for driver:
Berlin based German Autolabs created Chris a digital assistance for drivers. Chris is a proactive voice assistant with gesture control is attached to the windscreen and is paired to mobile via Bluetooth. The assistant speaks German and English language and is supported by android and iOS. The assistant helps to make calls, reply to text messages and navigate. Also, Chris can work without internet in offline mode.
3 April 2018, Xiaomi launched Xiao Ai, personal digital assistant:
Xiaomi has launched its virtual assistance based on AI technology named as Xiao like Google assistant, Siri and Bixby. The digital assistant has been implemented in the Mi MIX 2s smartphone launched by Xiaomi. Xiao uses voice commands to control and manage tasks such as time, weather, temperature, alarms and reminders. The assistant can also send messages on WeChat applications, update the user about traffic information and can control smart home assistants such as Mi Robot vacuum cleaner.
Digital Assistant Market Segmentation:
- Segmentation by Deployment: On-Cloud and On-Premise.
- Segmentation by Product: Apple’s SIRI, Google Assistant, Amazon Alexa, Microsoft Crotona, Samsung Bixby, Xiaomi Xiao AI, and Baidu DuerOS among others.
- Segmentation by Application: Smartphones, Wearable Devices, Speakers, TV devices and Smart homes.
- Segmentation by Region: North America, Europe, Asia-Pacific and Rest of the world.
Digital Assistant Market Regional Analysis:
The regional analysis of digital assistant market is studied for North America, Europe, Asia-Pacific and Rest of the World. North America is leading the digital assistant market due to countries such as the US, Canada and Mexico have a developed network architecture which offers seamless connectivity and intense R&D capabilities on advanced technologies such as AI, natural language processing, and cognitive assistance among others. Also, the adoption rate of home speakers is high in the region is high and majority of key players offering digital assistants are from this region which is driving the market for digital assistant in the North America Region.
The Asia-Pacific region also contributes towards the growth of digital assistant market and is expected to grow at a faster rate during the forecast period due to improvement in network infrastructure. Also, increasing adoption of cloud-based services by the enterprises and industries is further fuelling the growth of digital assistant market in this region.
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- Digital assistance manufacturing companies
- Original equipment manufacturers
- Digital assistance providers
- Research and development companies
- Market research and consulting firms
- Solution providers
- Technology standards organizations
- Technology investors
- System Integrators
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