Intelligent Virtual Assistant Market Size

  • Report ID: 722
  • Published Date: Dec 23, 2024
  • Report Format: PDF, PPT

Intelligent Virtual Assistant Market Size

Intelligent Virtual Assistant Market size was over USD 3.53 billion in 2024 and is projected to reach USD 60.32 billion by 2037, growing at around 24.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of intelligent virtual assistant is assessed at USD 4.26 billion.

Rising Use Of Smartphones

The use of smartphones is increasing significantly, and the use of personal assistants such as Siri, Google Assistant, and others are rapidly increasing as well. Smart virtual assistants are useful for people who do not know how to surf the internet. They just need to speak and the assistant helps in finding the information for them. This makes the assistant software user- friendly. On the back of this, the market is anticipated to witness significantly high growth.

Technological Advancements

Advancement in technology and Artificial Intelligence has changed the way IT works. New software solutions are being developed to ease the work of humans. Smart virtual assistant is one of the software that helps in assisting the user with the routine work. This is likely to drive the growth of the smart VAs market in the upcoming years.

Cost Reduction to Drive the Market Growth

The virtual assistants are comparatively cheaper than a human personal assistant. There is a one- time cost incurred and the work gets done quickly. The machine is faster than a human in completing the tasks. Hence, many people are preferring smart virtual personal assistants over human assistants.

Opportunities

There are advancements in the technology sector and with it, the software is also being innovated and improved. Earlier the assistants were just used to find information but now they can make calls, set up meetings, arrange calendars, send e-mails, and do much more. These innovations are an opportunity for the players of this market as there is always something new that a user can expect and explore.


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Author Credits:  Abhishek Verma


  • Report ID: 722
  • Published Date: Dec 23, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of intelligent virtual assistant is assessed at USD 4.26 billion.

Intelligent Virtual Assistant Market size was over USD 3.53 billion in 2024 and is projected to reach USD 60.32 billion by 2037, growing at around 24.4% CAGR during the forecast period i.e., between 2025-2037.

North America industry is likely to account for largest revenue share by 2037, impelled by good IT infrastructure in the region and increasing use of technology by people in their day- to- day tasks.

The major players in the market are Apple Inc., Oracle Corporation, 24me Ltd., IBM Corporation, Microsoft Corporation, Intel Corporation, SK Telecom Co. Ltd., Artificial Solutions, Creative Virtual, Nuance Communication, and others.
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