Virtual digital assistants (VDAs), which are automated software applications or platforms that assist the human user through understanding natural language in written or spoken form, are rapidly gaining traction in consumer and enterprise markets alike. According to a new report from Tractica, while smartphone-based consumer VDAs are currently the best-known offerings, virtual assistant technologies are also beginning to penetrate other device types including smart watches, fitness trackers, PCs, smart home systems, and automobiles.
Tractica forecasts that unique active consumer VDA users will grow from 390 million in 2015 to 1.8 billion worldwide by the end of 2021. During the same period, unique active enterprise VDA users will rise from 155 million in 2015 to 843 million by 2021. The market intelligence firm forecasts that total VDA revenue will grow from $1.6 billion in 2015 to $15.8 billion in 2021.
“The consumer and enterprise use cases for virtual digital assistants are proliferating rapidly thanks to accelerated innovation and scalability of underlying technologies, such as natural language processing and artificial intelligence,” says principal analyst Mark Beccue. “Meanwhile, most of the world’s technology giants believe VDAs will be vital to their businesses in the future, and they are investing significant resources to capture market share at this early stage.”
Tractica’s report, “Virtual Digital Assistants”, examines the global market opportunity for consumer and enterprise VDAs, providing market sizing and forecasts for active users and revenue for the period from 2015 through 2021. The report includes an analysis of market drivers and barriers, use cases, technology issues, and key industry players. An Executive Summary of the report is available for free download on the firm’s website.