Global Intelligent Virtual Assistant Market Size & Outlook
Global intelligent virtual assistant market, 2017-2030 (US$M)
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Global intelligent virtual assistant market highlights
- The global intelligent virtual assistant market generated a revenue of USD 3,074.1 million in 2023 and is expected to reach USD 14,096.1 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 24.3% by 2030.
- In terms of segment, chatbot accounted for a revenue of USD 2,082.0 million in 2023.
- Smart Speakers is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, Germany is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 3,074.1 million |
| Market revenue in 2030 | USD 14,096.1 million |
| Growth rate | 24.3% (CAGR from 2023 to 2030) |
| Largest segment | Chatbot |
| Fastest growing segment | Smart Speakers |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Chatbot, Smart Speakers |
Other key industry trends
- In terms of revenue, the North America accounted for 30.4% of the global intelligent virtual assistant market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Germany is the fastest growing regional market and is projected to reach USD 354.9 million by 2030.
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Intelligent Virtual Assistant Market Scope
Intelligent Virtual Assistant Market Companies
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Global intelligent virtual assistant market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to intelligent virtual assistant market will help companies and investors design strategic landscapes.
Chatbot was the largest segment with a revenue share of 67.73% in 2023. Horizon Databook has segmented the Global intelligent virtual assistant market based on chatbot, smart speakers covering the revenue growth of each sub-segment from 2017 to 2030.
There is significant growth in Over-the-top (OTT) applications such as WhatsApp, Facebook Messenger etc. The number of messaging applications offered is expected to double in its number by 2021. This growth can be expected as People are more engaged in messaging applications than the usage of social networking sites. The chatbot which are developed to integrate with these messaging applications is expected to have significant market demand in future.
Application to person automated messages is expected to grow significantly as it can automate the task with a click of message to book appointment in hospital, check flight status, order for ecommerce sites, find the best deals etc.
People will get more acquainted with automated customer services rather than email services or IVR service offered by majority companies as it offers instant solutions. Enhancement in the chatbot technology by implementing machine learning and artificial intelligence is expected to future drive the demand for intelligent virtual assistant market.
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Horizon Databook provides a detailed overview of global-level data and insights on the Global intelligent virtual assistant market , including forecasts for subscribers. This global databook contains high-level insights into Global intelligent virtual assistant market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Global intelligent virtual assistant market size, by regions, 2017-2030 (US$M)
Top 10 countries: Intelligent virtual assistant market size, 2023 (US$M)
Global intelligent virtual assistant market share, by product, 2023 & 2030 (%, US$M)
Intelligent virtual assistant market: Opportunity assessment by country
Global intelligent virtual assistant market, by region, 2023 (US$M)
| Product | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 253.4 | 313.8 | 389.2 | 483.6 | 602.2 | 750.5 | 935.3 | 1,166.1 | 1,455.5 | 1,817.0 | 2,268.7 | 2,834.3 | 3,545.7 | 4,440.6 | 24.9% |
| Europe | 203.7 | 249.8 | 307.0 | 378.0 | 466.1 | 575.0 | 709.5 | 876.6 | 1,083.9 | 1,341.3 | 1,659.4 | 2,054.2 | 2,546.6 | 3,160.6 | 23.8% |
| Asia Pacific | 210.2 | 262.5 | 328.4 | 411.3 | 516.6 | 648.9 | 814.1 | 1,023.0 | 1,286.1 | 1,618.6 | 2,035.9 | 2,562.0 | 3,228.2 | 4,071.6 | 25.9% |
| Latin America | 80.3 | 98.1 | 119.9 | 146.8 | 180.1 | 221.2 | 271.6 | 333.7 | 410.4 | 504.8 | 621.0 | 764.2 | 941.8 | 1,161.8 | 23.1% |
| MEA | 112.4 | 135.1 | 162.6 | 195.8 | 236.2 | 284.9 | 343.5 | 414.0 | 499.1 | 601.2 | 723.7 | 870.8 | 1,048.1 | 1,261.5 | 20.4% |
| Overall | 859.9 | 1,059.2 | 1,307.1 | 1,615.4 | 2,001.2 | 2,480.6 | 3,074.1 | 3,813.4 | 4,735.0 | 5,882.9 | 7,308.7 | 9,085.5 | 11,310.4 | 14,096.1 | 24.3% |
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