Friday, November 4, 2016

By 2021, the Virtual Assistant Market will Reach $15.8 Billion Worldwide


2016 has gone by so fast, I can't believe we are already in November. Through the course of the year we have talked about the major growth we have seen within the Virtual Assistant space. Executives are recognizing the benefits a Virtual Assistant will bring to any company, tech giants are acquiring Artificial Intelligence companies at a rapid pace this year, and analyst firms are predicting continued adoption of Virtual Assistants in the coming years. 

Last year around this time, Gartner put out the top predictions to look out for. One of them being, "by 2020, smart agents will facilitate 40% of mobile interactions. This is based on the belief that the world is moving to a post-app era, where assistants such as Apple's Siri act as a type of universal interface." (ComputerWorld

This year, analysts from Gartner recently put out the top 10 strategic predictions for 2017. They start off the article with saying, "By 2020, the average person will have more conversations with bots than with their spouse. With the rise of Artificial Intelligence (AI) and conversational user interfaces, we are increasingly likely to interact with a bot (and not know it) than ever before. The digital experience has become addictive by entering out lives through smartphones, tablets, virtual personal assistants (VPAs) or the entertainment systems in our homes and cars." (Gartner Predicts a Virtual World of Exponential Growth)

Another report from Research and Markets concluded that "by 2021, the Virtual Assistant market will reach $15.8 billion worldwide." 

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With adoption only expecting to increase, the democratization of AI, specifically Virtual Assistant is going to be key. Making it as easily accessible as possible will empower even more people to embrace the experience. If you would like more information on what noHold is doing to democratize AI, please contact us here.

Have a great weekend.