The global health intelligent virtual assistants market size is projected to reach USD 2.95 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 39.1% during the forecast period. With evolution of IoT and increasing focus on patient engagement, the market is anticipated to tread along a healthy growth track. Increasing adoption of IoT and rising integration of AI in the healthcare industry is expected to boost the growth of the market during the forecast period.
Intelligent
virtual assistants, owing to their ability to listen to consumers’ inquiries
and respond accordingly, are rendering daily tasks more convenient. For
instance, virtual assistants help users with assistance to purchase a product
or services and reduce wait times over a call for customer service. Moreover,
capabilities of a virtual assistant can be tailored to several industries,
thereby improving customer experience in that particular industry.
For
instance, in the healthcare and insurance sector, an IVA can potentially
eliminate the waiting period for a customer in queue or searching website for
queries. With the help of virtual assistants, customers can find out a doctor’s
office, fill and refill a prescription, and receive payment reminders.
Moreover, customers can ask an IVA for the process to enroll in a new or
different insurance program or provide an update on their coverage.
Technological
development in the past few years in the field of NLP, conversation interface,
automation, AI, and deep and machine learning processes are enabling health
intelligent virtual assistants to become more efficient and useful. Application
of these technologies is made available in the form of virtual assistants by
leading firms such as Amazon, Apple, and Google. Products offered by such
companies operate as intermediaries between customers, enterprise, and their
services.
For more info visit here: https://www.grandviewresearch.com/industry-analysis/health-intelligent-virtual-assistant-market
Health Intelligent
Virtual Assistant Market Report Highlights
- The automatic
Speech Recognition (ASR) technology segment experienced the fastest growth
over the forecast period
- Chatbot
emerged as the largest segment in 2017. It is estimated to generate
revenue of over USD 2.16 billion by 2025
- North America
was the leading revenue contributor in the global market in 2017. The
healthcare industry in the region is booming after the emergence of AI and
IoT, which is working in favor of the market
- Key players
including CodeBaby Corporation; eGain Corporation; MedRespond; Microsoft;
Next IT Corporation; Nuance Communications, Inc.; and True Image
Interactive Inc. accounted for a sizeable share in the global market in
2017.
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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