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Virtual Shopping Assistant Trends and Forecast
The future of the global virtual shopping assistant market looks promising with opportunities in the retail & ecommerce, healthcare, BFSI, travel & hospitality, automotive, and media & entertainment markets. The global virtual shopping assistant market is expected to reach an estimated $3 billion by 2030 with a CAGR of 25.4% from 2024 to 2030. The major drivers for this market are increasing use of conversational AI and increasing use of conversational AI.
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Virtual Shopping Assistant by Segment
The study includes a forecast for the global virtual shopping assistant by interaction mode, platform, application, end use industry, and region.
Virtual Shopping Assistant Market by Interaction Mode [Shipment Analysis by Value from 2018 to 2030]:
• Chatbots
• Messengers
• Websites
• Mobile Apps
• Voice Assistants
Virtual Shopping Assistant Market by Platform [Shipment Analysis by Value from 2018 to 2030]:
• Mobile
• Desktop
• Smart Speaker
• Smart TV
• Wearables
• Others
Virtual Shopping Assistant Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Customer Support
• Personal Assistant
• Data Privacy
• Workflow Automation
• Content Curation
• Campaign Management
• Others
Virtual Shopping Assistant Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:
• Retail & Ecommerce
• Healthcare
• BFSI
• Travel & Hospitality
• Automotive
• Media & Entertainment
• Others
Virtual Shopping Assistant Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Virtual Shopping Assistant Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies virtual shopping assistant companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the virtual shopping assistant companies profiled in this report include-
• Anthropic
• Synthesia
• Observe.ai
• Tangiblee
• Mode.ai
• UneeQ
• Avaamo
• Cognigy
• SoundHound
• Replica
Virtual Shopping Assistant Market Insights
Lucintel forecasts that customer support is expected to witness the highest growth over the forecast period due to its growing usage in enhancing customer experience and resolving queries in real-time during the shopping process.
Within this market, retail & ecommerce is expected to witness the highest growth over the forecast period.
North America will remain the largest region over the forecast period due to growing investments in retail technology and early adoption of conversational AI in the region.
Features of the Global Virtual Shopping Assistant Market
Market Size Estimates: Virtual shopping assistant market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Virtual shopping assistant market size by various segments, such as by interaction mode, platform, application, end use industry, and region in terms of value ($B).
Regional Analysis: Virtual shopping assistant market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different interaction modes, platforms, applications, end use industries, and regions for the virtual shopping assistant market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the virtual shopping assistant market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the virtual shopping assistant market size?
Answer: The global virtual shopping assistant market is expected to reach an estimated $3 billion by 2030.
Q2. What is the growth forecast for virtual shopping assistant market?
Answer: The global virtual shopping assistant market is expected to grow with a CAGR of 25.4% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the virtual shopping assistant market?
Answer: The major drivers for this market are increasing use of conversational AI and increasing use of conversational AI.
Q4. What are the major segments for virtual shopping assistant market?
Answer: The future of the virtual shopping assistant market looks promising with opportunities in the retail & ecommerce, healthcare, BFSI, travel & hospitality, automotive, and media & entertainment markets.
Q5. Who are the key virtual shopping assistant market companies?
Answer: Some of the key virtual shopping assistant companies are as follows:
• Anthropic
• Synthesia
• Observe.ai
• Tangiblee
• Mode.ai
• UneeQ
• Avaamo
• Cognigy
• SoundHound
• Replica
Q6. Which virtual shopping assistant market segment will be the largest in future?
Answer: Lucintel forecasts that customer support is expected to witness the highest growth over the forecast period due to its growing usage in enhancing customer experience and resolving queries in real-time during the shopping process.
Q7. In virtual shopping assistant market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to growing investments in retail technology and early adoption of conversational AI in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the virtual shopping assistant market by interaction mode (chatbots, messengers, websites, mobile apps, and voice assistants), platform (mobile, desktop , smart speaker, smart TV, wearables, and others), application (customer support, personal assistant, data privacy, workflow automation, content curation, campaign management, and others), end use industry (retail & ecommerce, healthcare, BFSI, travel & hospitality, automotive, media & entertainment, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Virtual Shopping Assistant Market, Virtual Shopping Assistant Market Size, Virtual Shopping Assistant Market Growth, Virtual Shopping Assistant Market Analysis, Virtual Shopping Assistant Market Report, Virtual Shopping Assistant Market Share, Virtual Shopping Assistant Market Trends, Virtual Shopping Assistant Market Forecast, Virtual Shopping Assistant Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Virtual Shopping Assistant Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Virtual Shopping Assistant Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Virtual Shopping Assistant Market by Interaction Mode
3.3.1: Chatbots
3.3.2: Messengers
3.3.3: Websites
3.3.4: Mobile Apps
3.3.5: Voice Assistants
3.4: Global Virtual Shopping Assistant Market by Platform
3.4.1: Mobile
3.4.2: Desktop
3.4.3: Smart Speaker
3.4.4: Smart TV
3.4.5: Wearables
3.4.6: Others
3.5: Global Virtual Shopping Assistant Market by Application
3.5.1: Customer Support
3.5.2: Personal Assistant
3.5.3: Data Privacy
3.5.4: Workflow Automation
3.5.5: Content Curation
3.5.6: Campaign Management
3.5.7: Others
3.6: Global Virtual Shopping Assistant Market by End Use Industry
3.6.1: Retail & eCommerce
3.6.2: Healthcare
3.6.3: BFSI
3.6.4: Travel & Hospitality
3.6.5: Automotive
3.6.6: Media & Entertainment
3.6.7: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Virtual Shopping Assistant Market by Region
4.2: North American Virtual Shopping Assistant Market
4.2.1: North American Virtual Shopping Assistant Market by Application: Customer Support, Personal Assistant, Data Privacy, Workflow Automation, Content Curation, Campaign Management, and Others
4.2.2: North American Virtual Shopping Assistant Market by End Use Industry: Retail & eCommerce, Healthcare, BFSI, Travel & Hospitality, Automotive, Media & Entertainment, and Others
4.3: European Virtual Shopping Assistant Market
4.3.1: European Virtual Shopping Assistant Market by Application: Customer Support, Personal Assistant, Data Privacy, Workflow Automation, Content Curation, Campaign Management, and Others
4.3.2: European Virtual Shopping Assistant Market by End Use Industry: Retail & eCommerce, Healthcare, BFSI, Travel & Hospitality, Automotive, Media & Entertainment, and Others
4.4: APAC Virtual Shopping Assistant Market
4.4.1: APAC Virtual Shopping Assistant Market by Application: Customer Support, Personal Assistant, Data Privacy, Workflow Automation, Content Curation, Campaign Management, and Others
4.4.2: APAC Virtual Shopping Assistant Market by End Use Industry: Retail & eCommerce, Healthcare, BFSI, Travel & Hospitality, Automotive, Media & Entertainment, and Others
4.5: ROW Virtual Shopping Assistant Market
4.5.1: ROW Virtual Shopping Assistant Market by Application: Customer Support, Personal Assistant, Data Privacy, Workflow Automation, Content Curation, Campaign Management, and Others
4.5.2: ROW Virtual Shopping Assistant Market by End Use Industry: Retail & eCommerce, Healthcare, BFSI, Travel & Hospitality, Automotive, Media & Entertainment, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Virtual Shopping Assistant Market by Interaction Mode
6.1.2: Growth Opportunities for the Global Virtual Shopping Assistant Market by Platform
6.1.3: Growth Opportunities for the Global Virtual Shopping Assistant Market by Application
6.1.4: Growth Opportunities for the Global Virtual Shopping Assistant Market by End Use Industry
6.1.5: Growth Opportunities for the Global Virtual Shopping Assistant Market by Region
6.2: Emerging Trends in the Global Virtual Shopping Assistant Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Virtual Shopping Assistant Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Virtual Shopping Assistant Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Anthropic
7.2: Synthesia
7.3: Observe.ai
7.4: Tangiblee
7.5: Mode.ai
7.6: UneeQ
7.7: Avaamo
7.8: Cognigy
7.9: SoundHound
7.10: Replica
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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