Intelligent Personal Assistant Market Research Report- Forecast 2027

Intelligent Personal Assistant Market Information, by Deployment (Smartphone, Tablets & Computers), by Technology (Voice Recognition, Natural language processing & deep learning) - Forecast 2027

ID: MRFR/ICT/0610-HCR | February 2021 | Region: Global | 100 pages

Intelligent Personal Assistant Market Overview:


An intelligent personal assistant is a software that performs various tasks on behalf of the user according to the command given. It is used in various electronic gadgets like smartphones, tablets in which various services are provided in a customized manner. With the growing advancement in technology and growing awareness among the people regarding advanced technology. Now, everyone uses electronic gadgets in one way or the other. The present generation is more technology-driven and hence there is a significant increase in the intelligent personal assistant market share globally. In the case of the android platform, Google is used as an intelligent personal assistant while in the case of the iOS platform Siri is used as an intelligent personal assistant.


With the tremendous growth size in the IT sector, the intelligent personal assistant market will rise to greater heights during the forecasted period. The overall global market size will increase many folds with a high CAGR. There will be a competitive analysis in the development of joint ventures, mergers and acquisitions, new product developments, and many others in the intelligent personal assistant market in the coming years.


COVID 19 Analysis:


Due to the worldwide COVID 19 pandemic, there is a steep downfall in all the sectors of the economies. Now one has to fight the battle of both health and economic front. This has pushed the economies to a forced recession resulting in loss of business which is in trillions. It has mostly affected the middle-class group, which are in majority in most of the economies as a result there is a global downfall.


To recover from this spiral of the downfall of businesses and a low level of investment, businesses should about a resource full strategy. It is expected that economies will recover from this global downfall with proper planning of the near future and by estimating the needs of their clients. This is the time of customized products as a result businesses should focus more on the needs of their potential customers.


Intelligent Personal Assistant Market Dynamics


Drivers:


As the technology is advancing at a rapid speed, it is giving a boost to the intelligent personal assistant market share. The main reason for the booming of an intelligent personal assistant is the excessive use of mobile phones in the present era. Also intelligent personal assistant is a mobile-based software that drives the growth of intelligent personal market share globally. It has made the life of people easier many times as it was before. Now one can easily ask the temperature of any country or time by asking the personal assistant and the answers will be in a few minutes. These features have enabled them to grow worldwide


Opportunities


With the advanced technology and an increase in the market share of an intelligent personal assistant, now learning has become very easy. With the voice control technology assisted with a personal assistant retention capacity of students has increased many folds. It is expected to show a prominent growth of intelligent personal assistant market share in other areas as well as in the healthcare sector, hotel businesses, and many others.


Cumulative Growth Analysis:


With the rise in intelligent personal assistant market share, it has benefited businesses in numerous ways. It has made the process of bookkeeping very easy. Not only this, with the introduction of intelligent personal assistants one can easily schedule their meetings and get reminders at the time setup in that meeting. It also comprehensively analyze their core competencies, by doing various strategic profiling of key players, and hence can draw a competitive landscape for the market. It is expected to grow even further in the 5 coming years.


Value Chain Analysis:


The best value added by the intelligent personal assistant is that customers feel it is an ultimate luxury to be with an assistant who always listens to their calls, anticipating their needs, and takes action whenever necessary. Although the intelligent personal assistant comes in a small package it can perform a variety of actions like hearing a command, play music, place online, answer any question, turn on/off lights, turn on/off smart television, etc. The intelligent personal assistant has leveraged in both the consumer environment as well as the business environment.


Invent of artificial intelligence has also played an important role in increasing the market share of an intelligent personal assistant during the forecasted period of 2021 to 2027.


Segmentation overview of Intelligent Personal Assistant


The intelligent personal assistant market is globally segmented based on development, technology, and region.


Segmentation based on Deployment


The intelligent personal assistant market is classified into smartphones, tablets, and computers among others.


Segmentation based on Technology


The intelligent personal assistant market can be categorized into voice recognition, natural language processing, and deep learning.


Segmentation based on Region


The intelligent personal assistant market is sub-divided based on North-America, Europe, Asia-Pacific, and RoW.


Regional Analysis:


In the intelligent personal assistant market, North America is dominating with the highest market share. More disposable income, high standard of living can be seen as the most contributing factors in supporting the global market share in North America. The second position is holding by Europe. Asia-Pacific is also giving tough competition to Europe in holding the second position.


Asia-Pacific is considered the fastest-growing region with a high CAGR. The adoption rate in Asia-Pacific countries is very high because the countries are at a developing stage and hence adopting new technologies for better growth in different sectors during the forecasted period. High demand for smartphones and tablets from India and China is responsible for the growth of the intelligent personal assistant market in this region.


Competitive Landscape:


The major key players in the intelligent personal assistant service market globally are as follows:



  • Google Inc. (U.S.)

  • Apple Inc. (U.S.)

  • Microsoft (U.S.)

  • Amazon (U.S.)

  • Baidu (China)

  • IBM (U.S.)

  • AOL (U.S.)

  • Nuance (U.S.)

  • Facebook Inc. (U.S.)

  • Artificial Solutions (Spain)


Recent Developments:



  • An intelligent personal assistant helps in setting calendars and meetings virtually and in no time. This also helps in remembering everything and sends the user intimation about the planned schedule via SMS, link, or might be an alarm. This is the new normal.

  • The latest trend of driving the car is by using google assistant which easily gives directions during driving and even alerts the driver about the various landmarks, shops, and various famous institutes. It even helps in translating a foreign language.

  • With the advent of an intelligent personal assistant, it makes learning easy and due to this, it is becoming trending in schools and colleges for smarter learning. One can even get industry-specific knowledge and unique business data.

  • An intelligent personal assistant helps in greater integration, with the government initiatives now the initial setup cost is minimized. It has human-assisted engagement with an unseen coach to ensure a better user experience.

  • Now the intelligent personal assistant is also trending in the banking and insurance sector so that all the possible logic can be gone through and there will less possibility of incurring losses. It also provides fast interaction with its customer base along with accuracy in calculations. Not only the business entrepreneurs are benefitted from these recent developments but the customer base also, as it becomes easily accessible to manage their activities or transactions from anywhere at any time.


Report Overview:


The global intelligent personal assistant market research report consists of the following:



  • Market overview

  • COVID 19 Analysis

  • Market Dynamics

  • Value Chain Analysis

  • Segmentation

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


This report tells us about the extensive primary research along with analysis of quantitative and qualitative aspects regarding the functions of intelligent personal assistant market services. Also, the effect of the COVID 19 pandemic and gives a clear picture of the current market scenario and forecasted market size in terms of volume of market share.


Technology:


Google Assistant, Nina, Viv, jibo, google now, Hey Athena, Cortana, Mycroft, Braina Virtual Assistant, Siri, chatbot, and many others


Uses:


It is used in home appliances as in smartphones, smart speakers, many mobile apps, and operating systems. It is even used in cars as well as in the retail sector, healthcare sector, telecommunications, and many others.



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   2027: Substantial CAGR
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Deployment, Technology
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Google Inc. (U.S.),Apple Inc. (U.S.),Microsoft (U.S.),Amazon (U.S.),Baidu (China),IBM (U.S.),AOL (U.S.),Nuance (U.S.),Facebook Inc. (U.S.),Artificial Solutions (Spain)
  Key Market Opportunities   voice control technology assisted with a personal assistant retention capacity
  Key Market Drivers   excessive use of mobile phones


Frequently Asked Questions (FAQ) :


In the approaching period, the development of a robust android platform is expected to motivate the makers

The market is posited to earn a superlative level of income in the coming years.

North America is the leading region in the forthcoming period in the intelligent personal assistant market across the globe.

Apple Inc., Amazon, Baidu, IBM, Microsoft, Artificial Solutions, Google Inc., AOL, Nuance, Facebook Inc. are the major key players.