Virtual Digital Assistant (VDA) is a computer program designed to assist a user by answering questions and performing basic tasks. This software is developed with the help of advanced technology such as IoT artificial intelligence and others. This software assists humans' daily and day-to-day activities and reduces human efforts. Smartphones bases assistants such as Google Assistant, Siri are the most common assistant used by people.
In recent times, there is a various technological advancement which has reduced the human efforts and increased the work efficiency. Also, rapidly changing lifestyles coupled with increased use of smart devices are some important aspects that contribute highly to the growth of the global Virtual Digital Assistant market to a great extent.
Furthermore, other noteworthy factors such as increased use of virtual agents, increased use of IoT, artificial intelligence, and conversational user interfaces are further projected to propel the growth of the global Virtual Digital Assistant market in the forecast period. Additionally, extensive application in work areas with natural language processing is expected to boost the growth of the Virtual Digital Assistant market in the coming period.
On the other hand, the high cost of the software and increase risk of cyber-attacks, and data security issues are some factors that hamper the growth of the Virtual Digital Assistant market. Apart from this, continuous advancements and technology development with collaboration among market players are likely to provide several growth opportunities in the virtual digital assistant market in the forthcoming years.
Covid-19 Impact on Virtual Digital Assistant (VDA) Market
Like many other industries, COVID-19 badly knocked the electronic and semiconductor industries. This unprecedented event has impacted nearly 230 countries in just a few weeks, resulting in the forced shutdown of manufacturing and transportation activities within and across the countries. This has directly affected the overall sector's growth. It is estimated that COVID-19 to leave more than USD 30 billion impacts on the electronics and semiconductor industry. The sector is majorly affected due to transport restrictions on major electronics and semiconductor raw material providers. However, the emerging need for semiconductors in several industries will offer rapid market recovery over the future period.
Virtual Digital Assistant (VDA) Market Segment Overview
According to Type, the Enterprise VDA is the largest segment in the global Virtual Digital Assistant market. The significant advances in combining NLP with other forms of artificial intelligence (AI), primarily machine learning (ML) and deep learning (DL), began to make enterprise virtual digital assistants (VDAs) more intelligent and useful. These advancements and other market factors have expanded the use cases for enterprise AI-driven VDAs beyond customer service & marketing. In addition to this, VDAs will become an increasingly significant interface enterprise can use for both externally-facing and internally facing purposes. Externally-facing use cases include handling customer service, marketing, and commerce transactions, while internally-facing use cases include running enterprise application software, productivity and collaboration applications, and administration functions.
Virtual Digital Assistant (VDA) Market, By Type
· Enterprise VDA
· Consumer VDA
Virtual Digital Assistant (VDA) Market, By Application
· Customer service and marketing
· E-commerce and sales
· Healthcare
· Business
· Foreign language tutoring
· Tax filing and processing
Virtual Digital Assistant (VDA) Market Regional Overview
Region-wise, North America is deemed to be the key contributor towards the growth of the Virtual Digital Assistant market. This is because of the presence of developed countries coupled with the increased adoption of advanced software and technology. Additionally, increased awareness and changing lifestyle with increased use of the smart device are anticipated to propel the growth of the virtual digital assistant market in this region. Similarly, Asia Pacific is expected to show rapid growth with a gradual increase in market share in the coming years. Increasing adoption of technology and increased use of smartphones, artificial intelligence with increased demand for IoT devices are some key aspects that boost the growth of the virtual digital assistant market in this region.
Virtual Digital Assistant (VDA) Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Virtual Digital Assistant (VDA) Market Competitor overview
Some key developments and strategies adopted by manufacturers in Virtual Digital Assistant (VDA) are highlighted below.
· In August 2021, Apple has launched a new invite-only app called 'Siri Speech Study' which will allow the company to improve its virtual assistant. The app allows users to share their interactions with Siri and provide Apple with the appropriate feedback. Apple will use the data to make Siri better.
Virtual Digital Assistant (VDA) Market, Key Players
· Amazon
· Microsoft
· Apple
· Botego
· CodeBaby
· Creative Virtual
· Artificial Solutions
· CX Company
· IBM
· Inbenta Technologies
· CogniCor
· EasilyDo
· Interactions
· Baidu
· Samsung
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Virtual Digital Assistant (VDA) Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type
- 5.2.1. Enterprise VDA
- 5.2.2. Consumer VDA
- 5.3. Market Analysis, Insights and Forecast – By Application
- 5.3.1. Customer service and marketing
- 5.3.2. E-commerce and sales
- 5.3.3. Healthcare
- 5.3.4. Business
- 5.3.5. Foreign language tutoring
- 5.3.6. Tax filing and processing
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America, Middle East and Africa
6. North America Virtual Digital Assistant (VDA) Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Enterprise VDA
- 6.2.2. Consumer VDA
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Customer service and marketing
- 6.3.2. E-commerce and sales
- 6.3.3. Healthcare
- 6.3.4. Business
- 6.3.5. Foreign language tutoring
- 6.3.6. Tax filing and processing
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe Virtual Digital Assistant (VDA) Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Enterprise VDA
- 7.2.2. Consumer VDA
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Customer service and marketing
- 7.3.2. E-commerce and sales
- 7.3.3. Healthcare
- 7.3.4. Business
- 7.3.5. Foreign language tutoring
- 7.3.6. Tax filing and processing
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. UK
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Rest of Europe
8. Asia Pacific Virtual Digital Assistant (VDA) Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Enterprise VDA
- 8.2.2. Consumer VDA
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Customer service and marketing
- 8.3.2. E-commerce and sales
- 8.3.3. Healthcare
- 8.3.4. Business
- 8.3.5. Foreign language tutoring
- 8.3.6. Tax filing and processing
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South East Asia
- 8.4.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Virtual Digital Assistant (VDA) Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Enterprise VDA
- 9.2.2. Consumer VDA
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Customer service and marketing
- 9.3.2. E-commerce and sales
- 9.3.3. Healthcare
- 9.3.4. Business
- 9.3.5. Foreign language tutoring
- 9.3.6. Tax filing and processing
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. Brazil
- 9.4.2. Saudi Arabia
- 9.4.3. UAE
- 9.4.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Amazon
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Microsoft
- 10.6. Apple
- 10.7. Botego
- 10.8. CodeBaby
- 10.9. Creative Virtual
- 10.10. Google
- 10.11. Artificial Solutions
- 10.12. CX Company
- 10.13. IBM
- 10.14. Inbenta Technologies
- 10.15. CogniCor
- 10.16. EasilyDo
- 10.17. Interactions
- 10.18. Baidu
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
