As indicated by Acumen Research and consulting, the global health intelligent virtual assistant market size is evaluated to reach around USD 2 billion by 2026 and CAGR to develop around 34% over the estimate time frame. Increasing penetration of the mobile healthcare technology, advanced features offered by health intelligent virtual assistant, growing adoption of smartphones are some of the fundamental have boosted the growth of the global Health Intelligent Virtual Assistant market. The market in the Asia Pacific is likely to expand at highest CAGR due to the rising demand from the emerging economies including India and China. Additionally, increasing expansion of multi-language platforms and rising need for easy availability of healthcare service
Increasing Penetration of the Technology in Smartphones is Expected to Fuel the Market Growth over the Forecast Period
The rising popularity of smartphones and growing penetration of the intelligent virtual assistant technology in smartphones are fuelling the global intelligent virtual assistant market growth during the forecast period. This technology permits the customers to execute easy tasks effortlessly without any physical participation of the consumer. Besides, the technology also permits users to achieve essential data efficiently instead of waiting in queues for customer service. Factors such as early adoptions of various innovative technologies, continuous technological advancements heavy investments in cloud computing and big data are supplementing the growth of the health intelligent virtual assistant market across the globe. Ease of availability of software assistants and escalating demand for advanced technology in healthcare industry are fueling the market growth. Furthermore, rapid technological advancements in the healthcare apps and growing need for superior disease management are helping the growth of the health intelligent virtual assistant market.
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Speech Recognition Segment to Dominate the Market
On the basis of type, the health intelligent virtual assistant market is segmented into speech recognition, test-to-speech recognition. Speech recognition segment is forecasted to dominate the market grow at the highest growth rate throughout the forecast period owing to the rising adoption of mobile computer technology worldwide as this technology makes it easier for consumers to interact with smartphones and its applications. Speech recognition technology allows physicians to converse data into a microphone and this information further can be directly entered into the HER, resulting into reinforcing the segmental growth. Proliferating demand for intelligent virtual assistant technology in various applications including BFSI, automotive and healthcare and technological innovations are some of the factors positively influencing the growth of the market.
Asia Pacific to Continue to Grow at Maximum Growth Rate during the Forecast Period
Geographically, the global health intelligent virtual assistant market has been divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Asia Pacific is anticipated to rising demand from the emerging economies including India and China. Increasing expansion of multi-language platforms and rising need for easy availability of healthcare service in the region is escalating the demand for health intelligent virtual assistant which further fuelling the growth of the regional market. Adoption of various innovative technologies, continuous technological advancements heavy investments in cloud computing and big data are some of the major factors augmenting the regional market growth. Rapid technological advancements in the healthcare apps and growing need for superior disease management are helping the growth of the regional market. North America is also anticipated to grow at substantial growth rate over the forecast period due continuous technological advancements and growing adoption rate. Use of health apps and high usage of smart phones and rapid adoption of innovative technology are positively influencing the growth of the regional health intelligent virtual assistant market. Early adoption of various innovative technologies and increasing investments in big data, cloud and data analytics are some of the major factors augmenting the regional market growth. Besides, growth in the healthcare infrastructure in developing economies is also propelling the growth of the overall market.
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Nuance Communications, Microsoft Corporation and CSS Corporation are Likely to Continue to Lead the Global Health Intelligent Virtual Assistant Market
The global health intelligent virtual assistant market is characterized by the presence of experienced and established players. Some of the key players include eGain Corporation, idAvatars, True Image Interactive, Inc., MedRespond, CSS Corporation, Kognito, Microsoft Corporation, Welltok, Inc. And Verint systems.
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