Jan 15, 2021 (Market Insight Reports) -- Selbyville, Delaware, Growth forecast report " Health Intelligent Virtual Assistant Market size by Product Type (Douglas Health Intelligent Virtual Assistant, Siberian Health Intelligent Virtual Assistant, Silver Health Intelligent Virtual Assistant, Balsam Health Intelligent Virtual Assistant and Others), By Application (Personal Care, Aromatherapy, Pharmaceuticals and Others), By Region Outlook (North America, Europe, Asia-Pacific, South America & Middle East and Africa), Top Manufacturer, Growth Potential, Price Trends, Competitive Market Share & Forecast added by Market Study Report LLC.
Growing adaptation of internet of things will drive market growth. internet of things can be applied from smart sensors to remote monitoring and medical device integration to improve physicians? delivery care. The implementation of internet of things in healthcare helps in enhancing already existing technology, thereby driving health intelligent virtual assistant market growth.
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Health Intelligent Virtual Assistant Market will exceed USD 1.6 billion by 2024; as per a new research report.
Rising need for improving overall health of population, reducing per capita cost of healthcare, improving patient experience and reducing medical errors will boost the adoption of intelligent virtual assistants. Health intelligent virtual assistant helps diagnose illness, offer novel treatment options, eliminate human error and eliminates redundant tasks that clog up the system, thereby fostering market growth.
Voice recognition market is estimated to reach USD 129.3 million by 2024. Growth is attributed to ability of voice recognition technology to document patient data more efficiently in less time. Introduction of smartphones and other mobile platforms equipped with voice recognition technology will render positive impact on business growth during the forecast timeframe.
Payer groups market is forecasted to grow at CAGR of 33.9% across the projected timeframe. The use of virtual assistants enables payers to evaluate and improve the workflow with entire patient data. Apart from this, speech recognition technology is harnessed by the payers? group to offer effective customer service and drive its business growth, thereby fostering market growth.
Germany health intelligent virtual assistant market is forecasted to reach USD 129.1 million by 2024. increasing use of health apps coupled with rising prevalence of lifestyle related chronic diseases are expected to boost the health intelligent virtual assistant market in Germany. Rapid adoption of virtual assistants to track health records, rising geriatric population and independently living senior citizens will promote business growth in the future.
Japan health intelligent virtual assistant market will witness robust growth at 36.1% CAGR during the projected timeframe. Emphasis on rapid development of the IoT reflects to cope with its aging society through reduced human resource costs will lead to regional growth. Increasing adoption of internet of things by major companies will favor business growth across the projected timeframe.
Prominent industries involved in health intelligent virtual assistant market are CSS Corporation, eGain Corporation, idAvatars, Kognito, MedRespond, Microsoft Corporation, Nuance Communications, True Image Interactive, Inc., Verint systems, and Welltok, Inc. These prominent business players focus on new product launch, strategic acquisitions and mergers to strengthen market position. For instance, in March 2018, Nuance announced its collaboration with Partners HealthCare for development of advanced artificial intelligence applications for diagnostic imaging. This will enable company to expand its existing product portfolio and strengthen its market presence.
The Health Intelligent Virtual Assistant market stands tall as one of the most proactive industry verticals, as claimed by a new research report. This research study forecasts this space to accrue substantial proceeds by the end of the projected period, aided by a plethora of driving forces that will fuel the industry trends over the forecast duration. A gist of these driving factors, in tandem with myriad other dynamics pertaining to the Health Intelligent Virtual Assistant market, such as the risks that are prevalent across this industry as well as the growth opportunities existing in Health Intelligent Virtual Assistant market, have also been outlined in the report.
Report Growth Drivers -
1 Stringent regulation protecting and maintaining safety at workplace
What are the key highlights of this report?
A systematic pricing analysis has been done on the sources of the product, application, as well as regional categories
A detailed analysis of the vendor matrix, important companies that will help better understand the competitive situation of the global business
Important, insightful data on the regulatory status of the market, as well as the investment scenario - for instance, how many stakeholders have invested in the market and so on