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Healthcare Virtual Assistants Market Worth $1,729 Million by 2024 - Exclusive Report by MarketsandMarkets™
CHICAGO, March 20, 2019 /PRNewswire/ -- According to the new market research "Healthcare Virtual Assistants Market by Product (Chatbots, Smart Speakers), User Interface (Automatic Speech Recognition, Text Based, Text-to-Speech Based), End User (Healthcare Providers, Patients, Healthcare Payers) - Global Forecast to 2024", published by MarketsandMarkets™, the global Healthcare Virtual Assistants Market is projected to reach USD 1,729 million by 2024 from USD 391 million in 2019, at a CAGR of 34.6%.
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The major factors driving the growth of this market include the growing number of smartphone users and the increasing use of healthcare applications, the growing demand for quality healthcare delivery, and the rising prevalence of chronic disorders.
By product, the smart speakers segment is expected to account for the largest share of the Healthcare Virtual Assistants Market in 2019
On the basis of product, the smart speakers segment is expected to account for the largest share of the Healthcare Virtual Assistants Market in 2019. The large share of this segment can be attributed to the increasing consumer preference for technologically advanced products. Smart speakers are multifunctional, fast, varied, and reliable solutions. This not only saves time but also offers increased comfort and greater convenience.
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By user interface, the automatic speech recognition segment is expected to grow at the highest CAGR during the forecast period (2019–2024)"
Based on user interface, the Healthcare Virtual Assistants Market is segmented into automatic speech recognition, text-based, text-to-speech, and others. The automatic speech recognition segment is expected to grow at the highest CAGR in the Healthcare Virtual Assistants Market during the forecast period due to its increasing use in smart speakers.
North America to dominate the Healthcare Virtual Assistants Market in 2019
North America is expected to account for the largest share of the Healthcare Virtual Assistants Market in 2019, followed by Europe and the Asia Pacific. The large share of North America in the global market can be attributed to the growing aging population and shrinking healthcare workforce in North American countries, increasing demand for digital health systems, the well-developed IT ecosystem in countries such as the US and Canada, widespread availability of data centers, and significant presence of major technology and product developers in the region.
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Prominent players in the Healthcare Virtual Assistants Market are Nuance Communications Inc. (US), Microsoft (US), Amazon (US), Infermedica (Poland), Sensly (US), eGain Corporation (US), Kognito Solutions LLC (US), Verint Systems Inc. (US), HealthTap Inc. (US), and Babylon Healthcare Services Ltd (UK).
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