Virtual Assistant Market by End-user, Type, and Geography - Forecast and Analysis 2021-2025

  • Published: Mar 2021
  • Pages: 120
  • SKU: IRTNTR70433

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The virtual assistant market has the potential to grow by USD 4.12 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 11.79%.

This virtual assistant market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (automotive, BFSI, government, retail, and others), type (spoken commands and text-to-speech), and geography (North America, APAC, Europe, South America, and MEA). The report also offers information on several market vendors, including Alphabet Inc., Inc., Apple Inc., CX Co., eGain Corp., International Business Machines Corp., Nuance Communications Inc., Oracle Corp., Synthetix Ltd., and VA Company LLC among others.

What will the Virtual Assistant Market Size be in 2021?


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Virtual Assistant Market: Key Drivers and Trends

The demand for enhanced customer service is notably driving the virtual assistant market growth, although factors such as technical concerns may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the virtual assistant industry get your FREE report sample now.

  • Businesses and enterprises are focusing on offering high-quality services to improve customer satisfaction, which has increased the adoption of intelligent virtual assistants.
  • Many businesses are adopting virtual assistance to provide a better experience and deliver real-time insights which will help enterprises and businesses improve the accuracy of their responses.
  • The increasing demand for advanced customer services and advanced software is one of the major factors driving the global virtual assistant market growth. 
  • Benefits offered to content consumers, owners, and publishers is one of the key virtual assistant market trends.
  • A virtual assistant is a choice for people with learning disabilities, who find it difficult to read enormous amounts of text or data. 
  • People with learning disabilities are increasingly adopting virtual assistants for easy access to website content.
  • With the growing use of smartphones, virtual assistants provide users with an option for content consumption in any environment. 
  • A virtual assistant makes it convenient and easier for the users to access the content online while increasing customer engagement and strengthening the corporate social responsibilities.

This virtual assistant market analysis report also provides detailed information on upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Virtual Assistant Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:


  • Alphabet Inc.
  • Inc.
  • Apple Inc.
  • CX Co.
  • eGain Corp.
  • International Business Machines Corp.
  • Nuance Communications Inc.
  • Oracle Corp.
  • Synthetix Ltd.
  • VA Company LLC


The virtual assistant market is fragmented and the vendors are deploying growth strategies such as R&D to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the virtual assistant market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Virtual Assistant Market?


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40% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for virtual assistant in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing adoption of high-end technological features has led to the increasing demand for virtual assistance will facilitate the virtual assistant market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating End-user Segments in the Virtual Assistant Market?


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The automotive industry investing toward convenience and connectivity in cars with the help of virtual assistant. A rapidly growing number of consumers are already using voice assistants in cars, and auto makers are continuing to invest in creating better user experiences. The global virtual assistant market in the automotive industry is expected to undergo massive growth during the forecast period.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the virtual assistant market size.



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What are the Key Factors Covered in this Virtual Assistant Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive virtual assistant market growth during the next five years
  • Precise estimation of the virtual assistant market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the virtual assistant industry across North America, APAC, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of virtual assistant market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases


Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts



  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis


  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The virtual assistant market growth will increase by $4123.59 million during 2020-2025.
The virtual assistant market is expected to grow at a CAGR of 11.79% during 2020-2025.
Technavio has segmented the virtual assistant market by end user (Automotive, BFSI, Government, Retail, and Others) ,type (Spoken commands and Text-to-speech) , and geographic (North America, APAC, Europe, South America, and MEA).
Alphabet Inc., Inc., Apple Inc., CX Co., eGain Corp., International Business Machines Corp., Nuance Communications Inc., Oracle Corp., Synthetix Ltd., VA Company LLC are a few of the key vendors in the virtual assistant market.
APAC will register the highest growth rate of 39.78% among the other regions. Therefore, the virtual assistant market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the virtual assistant market growth are:
  • Demand for enhanced customer service
The virtual assistant market vendors should focus on grabbing business opportunities from the automotive segment as it accounted for the largest market share in the base year.
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