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AI Avatars Market Trends

  • Report ID: GMI10020
  • Published Date: Jun 2024
  • Report Format: PDF

AI Avatars Market Trends

The AI avatars industry is experiencing dynamic shifts owing to the development of various features such as multimodal communication, using various AI and ML tools. These avatars are trained to understand the voice commands, facial expressions, and gestures to gain better understanding of the user query and respond in a more accurate way, thus improving their communication.
 

Many educational institutes are investing in AI avatar technology to provide better learning experience to students. These avatars can provide personalized learning experiences to the students and enable learning at their pace, thus helping them understand the concepts better. Additionally, this can also create an interactive learning environment for students, thus enhancing their learning experience.
 

For instance, in March 2024, Villa, a virtual reality platform, was used by over 700,000 people worldwide. This platform is launching an AI avatar assistant equipped with extraordinary abilities to teach users and guide them through the virtual environment. Students can learn new languages, take lessons, develop skills, and get help answering complex questions using the AI assistant, in over 30 different languages.
 

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of AI avatars reached USD 5.9 billion in 2023 and is set to witness 30% CAGR from 2024 to 2032, owing to the businesses increasingly adopting remote operations and online customer services, creating a demand for virtual assistants worldwide.

The virtual agents & assistants segment held over 33.5% share in 2023, due to improving customer satisfaction by offering timely, accurate, and customized support.

North America market accounted for 33% share in 2023, attributed to several industries implementing AI avatars to improve service delivery, expedite processes, and improve customer interactions in the region.

NVIDIA, Microsoft, Meta, Google, IBM, Anthropic, C3 AI, DataRobot, Databricks, Deep North, and UiPath, are some of the major AI avatars companies worldwide.

AI Avatars Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 360
  • Countries covered: 24
  • Pages: 240
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