Overview

Health Intelligent Virtual Assistant Market Introduction:

Health intelligent virtual assistants market is forecasted to value over US$ 3 billion by the end of 2026 and record a CAGR of 36.3% during the forecast period of 2020-2027.

Increasing use of smartphones is one of the key factors augmenting the market growth. Healthcare apps, mobile healthcare technology, and m-health solutions are witnessing accelerated adoption across the globe. Furthermore, the growing usage of smartphones for healthcare services by physicians is poised to drive market growth in the coming years. With the developing need for cost-effective solutions in the healthcare landscape, providers are embracing m-health solutions to save a substantial amount on healthcare expenses. Rising preference towards the internet of things (IoT) will further encourage the growth of the market throughout the forecast period.

Market Highlights:

Automatic Speech Recognition segment estimated to witness accelerated growth during the forecast period
Chatbot segment accounted for the largest market share in 2018 and is foreseen to continue its dominance
Providers segment is foreseen to grow at a higher CAGR as compared to other end-users
North America will continue its dominance in the global market as a leading revenue contributor

Health Intelligent Virtual Assistant Market Segmentation:
By Product

Smart Speakers
Chatbots

By Technology

Text to Speech
Text Based
Automatic Speech Recognition

By End-User

Providers
Payers
Others

By Region

Europe
North America
APAC
Latin America
Rest of World

Competitive Landscape:

Tier 1 players- established companies in the market with a major market share
Tier 2 players
Emerging players which are growing rapidly
New Entrants

FutureWise Takeaways:

Growth prospects
SWOT analysis
Key trends
Key data points affecting market growth

Objectives of the Study:

To provide an exhaustive analysis on health intelligent virtual assistant market by product, by technology, by end-user and by region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East.
To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
Profiling of companies to evaluate their market shares, strategies, financials and core competencies