ID: MRFR/ICT/0610-HCR | 100 Pages | Author: Shubham Munde | June 2023
Intelligent Personal Assistant Market is Expected to Reach USD 83.66 Billion with 34.13% CAGR during the forecast period, 2020-2030.
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.
Intelligent Personal Assistant Market is Expected to Reach USD 83.66 Billion with 34.13% CAGR during the forecast period, 2020-2030. 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
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
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.
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.
The major key players in the intelligent personal assistant service market globally are as follows:
The global intelligent personal assistant market research report consists of the following:
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.
Google Assistant, Nina, Viv, jibo, google now, Hey Athena, Cortana, Mycroft, Braina Virtual Assistant, Siri, chatbot, and many others
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.
|Market Size||2030: USD 83.66 Billion|
|CAGR||2030: 34.13 CAGR|
|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|
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.
The time period of the report spans from 2020 to 2030.
Apple Inc., Amazon, Baidu, IBM, Microsoft, Artificial Solutions, Google Inc., AOL, Nuance, Facebook Inc. are the major key players.
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