Global Intelligent Virtual Assistants Market to Reach $14.5 Billion by 2026

SAN FRANCISCO, Oct. 19, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Intelligent Virtual Assistants - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 9; Released: April 2021
Executive Pool: 15199
Companies: 46 - Players covered include Alphabet, Inc.; Amazon.com, Inc.; Apple, Inc.; Artificial Solutions Holding Ash AB; Baidu, Inc.; BlackBerry Ltd.; Facebook, Inc.; IBM Corporation; Inbenta Technologies, Inc.; Microsoft Corporation; Mycroft AI, Inc.; Nuance Communications, Inc.; Samsung Electronics Co., Ltd.; Unified Computer Intelligence Corporation and Others.
Coverage: All major geographies and key segments
Segments: Application (BFSI, IT & Telecom, Automotive, Healthcare, Retail, Other Applications); End-Use (Large Enterprises, SMEs, Individual User); Type (Speech Recognition, Text-to-Speech Recognition)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Intelligent Virtual Assistants Market to Reach $14.5 Billion by 2026
Amid the COVID-19 crisis, the global market for Intelligent Virtual Assistants estimated at US$2.5 Billion in the year 2020, is projected to reach a revised size of US$14.5 Billion by 2026, growing at a CAGR of 34% over the analysis period. Speech Recognition, one of the segments analyzed in the report, is projected to record a 33.6% CAGR and reach US$12.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Text-to-Speech Recognition segment is readjusted to a revised 34.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1 Billion in 2021, While China is Forecast to Reach $2.5 Billion by 2026
The Intelligent Virtual Assistants market in the U.S. is estimated at US$1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.5 Billion by the year 2026 trailing a CAGR of 33% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 30.5% and 29.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 24% CAGR. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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