A CAGR of 33.74% is projected for 2019-2024
The global Virtual Personal Assistants (VPAs) market is projected to display a robust growth represented by a CAGR of 33.74% during 2019-2024, according to the new report by ResearchAndMarkets.
The Global Virtual Personal Assistants Market has been analyzed for the historical period of 2014-2018 and the forecast period of 2019-2024.
Smart speakers and Voice virtual assistants are the segments that have been witnessing growth at a noteworthy rate over the past few years owing to increasing adoption of voice assistants by major corporate houses and E-commerce companies who are focusing on maintaining a healthy relation with their customers by timely addressing their queries supported by powering millennial population and growth internet access to users.
Amongst the regions, North America accounts for the largest regional share in the Global Virtual Personal Assistants Market in 2019. Key factors driving the robust growth rate in North America region include rapid adoption of latest technology by major tech giants in the region backed with the growing prevalence of smart homes technology which directly impacts the market for virtual Assistants, thereby anticipated to infuse positive growth in the region during the forecasting period.