Booming Smart Machine Technology Is Evolving To Leverage Virtual Personal Assistants (VPA) Devices

The analysis of the global virtual personal assistants (VPA) market has presented that it will experience an exponential growth over the next few years as there is a significant boom in the technological advancements. Virtual voice assistants and smart speakers have demonstrated major market traction and the segments are growing at a noteworthy rate. This can be attributed to the increasing number of ecommerce companies and major corporate houses who are adopting voice assistants to maintain a healthy relation with customers and clients. They are focusing on supporting query resolution of the millennial population and rendering effective internet access to their users. These are the key factors propelling the overall market growth. 

Based on end users or applications, the market has been segmented into BFSI, e-commerce, government, IT & telecom, and personal. The product segment is categorized into chatbots and smartspeakers. Significant developments have been made in this technology owing to the prominent market products and services such as Microsoft's Cortana, Apple's Siri, Amazon's Alexa, and Google Home. VPA based apps are fetching widespread growth to the point that they are anticipated will be embedded within every day-today services. The preferred user interface (UI) for several wireless Internet applications are being integrated with smart advisers such as Haptic UI and other contextual interfaces. They are also likely to become more dependent upon modern rules of data analytics to process and monitor a variety of resources. 

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Amongst the regional segmentation, North America dominated the market over the past several years as the region has marked the most significant development of cutting-edge technologies and the expansion of key players in the U.S.  Such factors have positively infused growth in the North America region and will further continue to expand during the forecast time frame. Furthermore, Asia Pacific has witnessed a major competition has foreign players are expanding their business across the markets of China, Japan, and India. 

Some of the major players operating the given market include Microsoft Corporation; Nuance Communications; Samsung Electronics; Alphabet Inc; Apple; Amazon.com; IBM; Baidu; Oracle Corporation; and Inbenta Technologies.