Virtual Shopping Assistant Market Report: Trends, Forecast and Competitive Analysis to 2030

Virtual Shopping Assistant Trends and Forecast

The future of the global virtual shopping assistant market looks promising with opportunities in the retail & ecommerce, healthcare, BFSI, travel & hospitality, automotive, and media & entertainment markets. The global virtual shopping assistant market is expected to reach an estimated $3 billion by 2030 with a CAGR of 25.4% from 2024 to 2030. The major drivers for this market are increasing use of conversational AI and increasing use of conversational AI.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Virtual Shopping Assistant by Segment

The study includes a forecast for the global virtual shopping assistant by interaction mode, platform, application, end use industry, and region.

Virtual Shopping Assistant Market by Interaction Mode [Shipment Analysis by Value from 2018 to 2030]:

• Chatbots
• Messengers
• Websites
• Mobile Apps
• Voice Assistants

Virtual Shopping Assistant Market by Platform [Shipment Analysis by Value from 2018 to 2030]:

• Mobile
• Desktop
• Smart Speaker
• Smart TV
• Wearables
• Others

Virtual Shopping Assistant Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Customer Support
• Personal Assistant
• Data Privacy
• Workflow Automation
• Content Curation
• Campaign Management
• Others

Virtual Shopping Assistant Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:

• Retail & Ecommerce
• Healthcare
• BFSI
• Travel & Hospitality
• Automotive
• Media & Entertainment
• Others

Virtual Shopping Assistant Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Virtual Shopping Assistant Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies virtual shopping assistant companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the virtual shopping assistant companies profiled in this report include-

• Anthropic
• Synthesia
• Observe.ai
• Tangiblee
• Mode.ai
• UneeQ
• Avaamo
• Cognigy
• SoundHound
• Replica

Virtual Shopping Assistant Market Insights

Lucintel forecasts that customer support is expected to witness the highest growth over the forecast period due to its growing usage in enhancing customer experience and resolving queries in real-time during the shopping process.

Within this market, retail & ecommerce is expected to witness the highest growth over the forecast period.

North America will remain the largest region over the forecast period due to growing investments in retail technology and early adoption of conversational AI in the region.

Features of the Global Virtual Shopping Assistant Market

Market Size Estimates: Virtual shopping assistant market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Virtual shopping assistant market size by various segments, such as by interaction mode, platform, application, end use industry, and region in terms of value ($B).

Regional Analysis: Virtual shopping assistant market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different interaction modes, platforms, applications, end use industries, and regions for the virtual shopping assistant market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the virtual shopping assistant market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the virtual shopping assistant market size?

Answer: The global virtual shopping assistant market is expected to reach an estimated $3 billion by 2030.

Q2. What is the growth forecast for virtual shopping assistant market?

Answer: The global virtual shopping assistant market is expected to grow with a CAGR of 25.4% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the virtual shopping assistant market?

Answer: The major drivers for this market are increasing use of conversational AI and increasing use of conversational AI.

Q4. What are the major segments for virtual shopping assistant market?

Answer: The future of the virtual shopping assistant market looks promising with opportunities in the retail & ecommerce, healthcare, BFSI, travel & hospitality, automotive, and media & entertainment markets.

Q5. Who are the key virtual shopping assistant market companies?

Answer: Some of the key virtual shopping assistant companies are as follows:

• Anthropic
• Synthesia
• Observe.ai
• Tangiblee
• Mode.ai
• UneeQ
• Avaamo
• Cognigy
• SoundHound
• Replica

Q6. Which virtual shopping assistant market segment will be the largest in future?

Answer: Lucintel forecasts that customer support is expected to witness the highest growth over the forecast period due to its growing usage in enhancing customer experience and resolving queries in real-time during the shopping process.

Q7. In virtual shopping assistant market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to growing investments in retail technology and early adoption of conversational AI in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the virtual shopping assistant market by interaction mode (chatbots, messengers, websites, mobile apps, and voice assistants), platform (mobile, desktop , smart speaker, smart TV, wearables, and others), application (customer support, personal assistant, data privacy, workflow automation, content curation, campaign management, and others), end use industry (retail & ecommerce, healthcare, BFSI, travel & hospitality, automotive, media & entertainment, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?