Virtual Shopping Assistant Market, By Interaction Mode, By Platform, By Technology, By Industry Vertical, By Application, By Geography

Description

The Global Virtual Shopping Assistant Market is estimated to be valued at US$ 624.7 million in 2023 and is expected to reach US$ 4,575.9 million by 2030, growing at a compound annual growth rate (CAGR) of 32.9% from 2023 to 2030.

Report Coverage		Report Details
Base Year:	2022	Market Size in 2023:	US$ 624.7 Mn
Historical Data for:	2018 to 2021	Forecast Period:	2023 - 2030
Forecast Period 2023 to 2030 CAGR:	32.90%	2030 Value Projection:	US$ 4,575.9 Mn

Figure 1. Global Virtual Shopping Assistant Market Share (%), by Region, 2023

Virtual Shopping Assistant Market - IMG1

Virtual shopping assistants are revolutionizing the way consumers shop in the digital era. These intelligent software applications, powered by artificial intelligence (AI) and natural language processing (NLP) technologies, aim to enhance the online shopping experience by providing personalized recommendations, answering customer queries, and streamlining the purchasing process.

In today's fast-paced world, consumers seek convenience and efficiency when shopping online. Virtual shopping assistants serve as virtual concierges, guiding customers through their shopping journey and helping them find the perfect products based on their preferences, budget, and past behavior. These assistants can effectively analyze vast amounts of data, including customer profiles, purchase histories, and real-time market trends, to deliver relevant and tailored recommendations.

Market Dynamics:

One of the key drivers is the increasing demand for personalized shopping experiences. Virtual shopping assistants use advanced algorithms and AI capabilities to understand customer preferences and provide customized recommendations, ultimately enhancing customer satisfaction and loyalty. Additionally, the rising penetration of smartphones and the internet has fueled the growth of online shopping, creating a need for intelligent virtual assistants that can cater to evolving consumer demands.

However, there are certain challenges and restraints to be considered. Data privacy and security concerns remain a crucial issue for both consumers and businesses. Virtual shopping assistants require access to sensitive customer information, raising concerns about data breaches and misuse. To address these concerns, companies must implement robust security measures and comply with strict data protection regulations.

Despite these challenges, the market for virtual shopping assistants presents significant opportunities. The integration of technologies such as machine learning, natural language understanding, and computer vision enables assistants to provide advanced functionalities like visual search, voice recognition, and augmented reality. Moreover, the increasing adoption of chatbot technologies and the growing popularity of virtual assistants in the e-commerce industry are expected to drive market growth.

Key features of the study:

This report provides an in-depth analysis of the global virtual shopping assistant market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), considering 2022 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global virtual shopping assistant market based on the following parameters - company highlights, product portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Anthropic PBC, Synthesia Limited, Observe.AI, Avaamo, Cognigy, SoundHound AI Inc., Luka, Inc. Pypestream Inc., Mobisoft Infotech, EdgeVerve Systems Limited, Nuance Communications, Inc., Ada, Kore.ai.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global virtual shopping assistant market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global virtual shopping assistant market

Detailed Segmentation:

By Interaction Mode
- Chatbots
- Messengers
- Websites
- Mobile Apps
- Voice Assistants
- Avatars
- Others (Robots, Kiosks)
By Platform
- Mobile
- Desktop
- Smart Speakers
- Smart TVs
- Wearables
- Others (Kiosks, Signage)
By Technology
- NLP
- ML
- Computer Vision
- Predictive Analytics
- Biometrics
- Others (Blockchain, IoT)
By Industry Vertical
- Retail & eCommerce
- Healthcare
- BFSI
- Travel & Hospitality
- Automotive
- Media & Entertainment
- Others (Real Estate, Education)
By Application
- Customer Support
- Personal Assistant
- Data Privacy
- Workflow Automation
- Content Curation
- Campaign Management
- Others (Inventory, HR)
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Player
- Anthropic PBC
- Synthesia Limited
- Observe.AI
- Avaamo
- Cognigy
- SoundHound AI Inc.
- Luka, Inc.
- Pypestream Inc.
- Mobisoft Infotech
- EdgeVerve Systems Limited
- Nuance Communications, Inc.
- Ada
- Kore.ai Inc.

Product Code: CMI6296

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snipped, By Interaction Mode
- Market Snipped , By Platform
- Market Snipped , By Technology
- Market Snipped , By Industry Vertical
- Market Snipped , By Application
- Market Snipped , By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Rising adoption of conversational AI
- Data Privacy and Security Concerns
- Integration of Emerging Technologies Impact Analysis
Key Highlights
Regulatory Scenario
Product launch/Approvals
PEST Analysis
PORTER's Analysis
Merger and Acquisition Scenario

4. Virtual Shopping Assistant Market - Impact of Coronavirus (COVID-19) Pandemic

COVID-19 Epidemiology
Supply Side and Demand Side Analysis
Economic Impact

5. Virtual Shopping Assistant Market, By Interaction Mode, 2018-2030, (US$ Mn)

Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 - 2030
- Segment Trends
Chatbots
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Mn)
Messengers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Mn)
Websites
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Mn)
Mobile Apps
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Mn)
Voice Assistants
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Mn)
Avatars
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Mn)
Others (Robots, Kiosks)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Mn)

6. Virtual Shopping Assistant Market, By Platform, 2018-2030, (US$ Mn)

Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 - 2030
- Segment Trends
Mobile
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Desktop
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Smart Speakers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Smart TVs
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Wearables
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Others (Kiosks, Signage)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)

7. Virtual Shopping Assistant Market, By Technology, 2018-2030, (US$ Mn)

Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 - 2030
- Segment Trends
NLP
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
ML
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Computer Vision
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Predictive Analytics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Biometrics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Others (Blockchain, IoT)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)

8. Virtual Shopping Assistant Market, By Industry Vertical, 2018-2030, (US$ Mn)

Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 - 2030
- Segment Trends
Retail & eCommerce
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Healthcare
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
BFSI
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Travel & Hospitality
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Automotive
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Media & Entertainment
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Others (Real Estate, Education)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)

9. Virtual Shopping Assistant Market, By Application, 2018-2030, (US$ Mn)

Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 - 2030
- Segment Trends
Customer Support
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Personal Assistant
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Data Privacy
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Workflow Automation
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Content Curation
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Campaign Management
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)
Others (Inventory, HR)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Million)

10. Virtual Shopping Assistant Market, By Region, 2018-2030, (US$ Mn)

Introduction
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, For Country 2018 -2030
- Country Trends
North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Interaction Mode, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Platform, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Technology, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Industry Vertical, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2018-2030, (US$ Mn)
U.S.
Canada
Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC Countries
- Israel
- South Africa
- North Africa
- Central Africa
- Rest of Middle East

11. Competitive Landscape

Anthropic PPC
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Synthesia Limited
Observe. AI
Avaamo
Cognigy
SoundHound AI Inc
Luka, Inc.
Pypestream Inc,,
Mobisoft Infotech
EdgeVerve Systems Limited
Nuance Communications, Inc.,
Ada
Kore.ai.
Others
Analyst Views

12. Section

Research Methodology
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