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Health Intelligent Virtual Assistant Market Size

Report ID: GMI1823
Published Date: Jul 2021
Report Format: PDF

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Health Intelligent Virtual Assistant Market Size

Health Intelligent Virtual Assistant Market size was valued at USD 424 million in 2020 and is expected to grow at a CAGR of 36.4% between 2021 and 2027. The market growth is attributed to the increasing popularity of virtual assistance in healthcare. The adoption rate of virtual assistance is noted to rise largely due to the advancement in artificial intelligence (AI) and machine learning. Also, health intelligent virtual assistant technology enables users to have smarter interaction, allowing people to get assistance while being time efficient, thus fundamentally transforming the market space.

Health Intelligent Virtual Assistant Market Overview

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The COVID-19 pandemic has disrupted all the major markets worldwide. However, the market has witnessed a positive growth amid the pandemic. Various government and public authorities across the globe have amended regulations pertaining to the implementation of digital health technologies for remote monitoring. This has led to a gush in the use of health intelligent virtual assistant technologies, thus stimulating the market progression. Also, the use of interactive virtual assistance has assisted in reducing the burden of the healthcare system, thereby fuelling the demand for health intelligent virtual assistant.

Health Intelligent Virtual Assistant Market Report Attributes
Report Attribute	Details
Base Year:	2020
Health Intelligent Virtual Assistant Market Size in 2020:	424.2 Million (USD)
Forecast Period:	2021 to 2027
Forecast Period 2021 to 2027 CAGR:	36.4%
2027 Value Projection:	3,664.4 Million (USD)
Historical Data for:	2016 to 2020
No. of Pages:	100
Tables, Charts & Figures:	124
Segments covered:	Technology, End-user and Region
Growth Drivers:	Rising smartphone users worldwide coupled with increasing use of health applications Growing popularity of Internet of Things (IoT) Increasing lifestyle related disorders along with rising awareness Need to improve quality of healthcare delivery and lower the treatment cost
Pitfalls & Challenges:	Increasing security concern Lack of infrastructure in developing economies

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The market size of health intelligent virtual assistant was worth over USD 424 million during 2020 is anticipated to register around 36.4% CAGR through 2027.

Health intelligent virtual assistant market share from speech recognition technology segment was over USD 260 million in 2020 and will expand due to benefits like faster processing of medical records and documents.

Healthcare providers held more than 51% of the market share in 2020 with increasing cost benefits owing to the adoption of these solutions.

North America market will exhibit over 35.1% CAGR up to 2027 owing to highly developed healthcare infrastructure and faster adoption of speech recognition technology.

Global providers of health intelligent virtual assistant technology are Microsoft Corporation, True Image Interactive, Nuance Communications, Verint Systems and CSS Corporation, along with some others.