Digital Assistant Market Overview:
An intelligent digital assistant works as the primary interface between digital data and computers. The software performs tasks on the basis of input provided and by accessing online information. Digital assistant technology implements the combination of a mobile device, mobile application, and user interface. Technology giants like Apple, Samsung, Google and Amazon have come up with their digital assistants like Apple’s Siri and Amazon’s Echo which make the mobile user experience more convenient and user friendly.
The global digital assistant market is predicted to touch USD 8.9 billion at a notable CAGR over the forecast period (2017-2023), states the new Market Research Future (MRFR) report. A digital assistant, simply put, is a computer program that helps a user by performing basic tasks and answering questions. It is fundamentally transforming the way people live, and also the way brands are engaging with customers. This has widely influenced the regular means of communication.
Digital assistants have gone beyond offering simple features of request and response. Right from adding magic to children’s bedtime stories to placing online orders, playing music, to turning on lights, it is transforming the way brands are engaging with people. Social media platforms too use digital assistants for tracking and monitoring accounts, promoting content, and collecting, storing, and organizing data in a highly presentable manner.
Various factors are propelling the Digital Assistant Market growth. These factors, as specified by the Market Research Future (MRFR) report, include the growing use of smart speakers for residential applications, increasing investments in IoT technology and smart homes, increasing trend of outsourcing, and growing mobile workforce. Additional factors driving the market growth include increased focus on customer engagement, and the increasing popularity of social media and big data analytics, as well as cloud applications. For improving customer satisfaction and adding to the revenue, companies are revisiting various consumer experience strategies. This is likely to drive the demand for effective digital assistant programs.
The Digital Assistant Market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on the Digital Assistant Market highlights the future prediction and the growth alternatives that can be created.
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Major Key Players:
Leading players profiled in the digital assistant market report include Artificial Solutions (Spain), IBM Corporation (US), Cisco Systems Inc. (US), Nuance Communications (US), Baidu Inc. (China), Facebook Inc. (US), Amazon Inc. (US), Google Inc. (US), Samsung Corporation (South Korea), Microsoft Corporation (US), and Apple Inc. (U.S.), among others. The key players are using several strategies, such as launching innovative products to cater to the needs of the customers. Besides, they are also entering new markets to strengthen the market presence and expand customer base.
June 2019: JLL, a leading real estate giant has joined hands with Google to introduce its latest digital assistant application for office workers, that will challenge Cortana and Alexa. This smartphone-based voice assistant has been specially designed for office workers. It will help office workers in booking desks and conference rooms in their buildings, filing a maintenance request, and much more. The aim is to come up with a new technology offering, which will take advantage of JLL’s real estate expertise. It will differ from Google Assistant, Cortana, Alexa, and others, as it is absolutely smartphone-based as well as focusing chiefly on the office setting. Moreover, the wealth of data which JLL has from working with companies and managing buildings as they plan and make offices makes it stand out from others.
The Market Research Future report provides a wide segmental analysis of the digital assistant market based on product, applications, and deployment.
- Based on deployment, the digital assistant market is segmented into on-premise and on-cloud.
- Based on product, the digital assistant market is segmented into Samsung Bixby, Microsoft Cortana, Amazon Alexa, Google Assistant, and Apple’s SIRI.
- Based on applications, the digital assistant market is segmented into TV devices, smart homes, wearable devices, and smartphones.
Based on the region, the digital assistant market report covers growth opportunities and the latest trends across Europe, North America, Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will lead the market over the forecast period. This is owing to technical advancements in this region. Moreover, the increasing adoption rate of home speakers and developed network architecture are also adding to the market growth.
The digital assistant market in the APAC region is predicted to grow at the fastest pace over the forecast period. This is owing to the growing adoption of cloud-based services by industries and network infrastructure improvement.
The digital assistant market in Europe will have a favorable growth over the forecast period, and in the Rest of the World, it will have great potential due to growing demand from banks as well as other financial institutes. Such institutes use chatbots for streamlining customer relationship management.
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