Health Intelligent Virtual Assistant Market is projected to experience a CAGR of 33.65% throughout the forecast period
The health intelligent virtual assistant market is anticipated to grow at a CAGR of 33.65% during the forecast period.
NOIDA, UTTAR PARDESH, INDIA, February 2, 2024 /EINPresswire.com/ — According to a new study published by Knowledge Sourcing Intelligence, the health intelligent virtual assistant market is projected to grow at a CAGR of 33.65% between 2021 and 2028.
In the healthcare business, the Health Intelligent Virtual Assistant market is expanding rapidly. This expanding industry uses virtual assistants and chatbots to help patients, doctors, and other healthcare workers. These virtual assistants may undertake a variety of activities, including replying to inquiries, coordinating appointment schedules, and providing basic medical advice. Several factors are driving the growth of the market for health-intelligent virtual assistants. As healthcare costs have risen, the sector has sought cost-effective alternatives, with virtual assistants emerging as a feasible choice. The industry also benefits from ongoing advances in artificial intelligence and natural language processing technology, which allow virtual assistants to provide increasingly complex services. The healthcare industry has been fast to adopt virtual assistants, seeing their potential to streamline operations and improve patient care. Furthermore, the benefits of digital healthcare are becoming more widely recognized, which is helping to drive market expansion.
A Health Intelligent Virtual Assistant, or HIVA, is a cutting-edge digital service that is precisely designed to emulate human interaction and provide tailored replies based on user input. These virtual assistants have a wide range of uses, including healthcare education, research, and practical healthcare settings. Their adaptability enables them to quickly automate certain operations, distribute essential information, and improve overall user experience and productivity.
The market is witnessing multiple collaborations and technological advancements, for instance, in April 2023, EVA.ai, a leading provider of AI solutions for Talent Acquisition and Management, recently announced the integration of its well-known AI Virtual Assistant – EVA Bot – with cutting-edge Large Language Models (LLMs) with 6 billion parameters to power superior intelligent communication capabilities across large organisations such as the United Nations.
Access sample report or view details: https://www.knowledge-sourcing.com/report/health-intelligent-virtual-assistant-market
Based on the product the global health intelligent virtual assistant market is divided into chatbot and smart speakers. The chatbot segment is anticipated to lead the market over the forecast period. Chatbots are very versatile and may be utilized in a wide range of industries, including retail, healthcare, customer support, and more. Their adaptability makes them an appealing alternative for firms wishing to automate a variety of tasks, from answering consumer questions to enabling transactions. Furthermore, their capacity to manage several transactions at the same time increases efficiency, allowing firms to extend operations without incurring proportionate expenses. The simplicity of integration is also a crucial element driving category expansion. Chatbots are easily integrated into current consumer contact platforms including websites, smartphone applications, and social media channels. This streamlines the adoption process and allows enterprises to reap the advantages fast without requiring significant changes to current infrastructures.
Based on technology the global health intelligent virtual assistant market is divided into automatic speech recognition, text to speech, and text-based. The text-to-speech segment is poised to capture a major market share over the forecast period. Text-to-speech improves accessibility by allowing persons with visual impairments, literacy issues, or other limitations to interact with text-based content. This inclusion is consistent with the growing social emphasis on making technology available to all groups. Furthermore, TTS technology aids in the facilitation of hands-free interactions, which have grown in importance in a variety of scenarios ranging from driving to cooking. TTS converts digital text into spoken speech, allowing users to get information without having to glance at a screen, making multitasking more convenient and secure.
Based on end users the global health intelligent virtual assistant market is divided into payers, providers, and others. The provider segment is anticipated to expand at a high CAGR. They assist with a variety of services, including appointment scheduling and confirmation, appointment reminders, patient follow-up, and medical diagnosis consultations with doctors. The growing use of electronic health records (EHRs) and the necessity for seamless integration of healthcare systems have fueled demand for health intelligent virtual assistants (IVAs) in the provider market. IVAs may link with current EHR systems and extract patient information, allowing healthcare practitioners to swiftly access pertinent data and make educated decisions during patient consultations.
Based on geography the Asia Pacific region is likely to account for a sizable portion of the health intelligent virtual assistant market for a variety of compelling factors. First and foremost, the meteoric rise of internet connection and broad use of smartphone devices has laid a solid basis for the worldwide healthcare virtual assistant industry to grow. This tendency is notably evident in the Asia Pacific area, where the population’s increased access to digital technology has contributed greatly to market growth. Furthermore, the Asia-Pacific healthcare business is experiencing a surge in demand for technology developments. This is motivated by the need to strike a careful balance between increasing patient involvement and streamlining healthcare operations. As a result, the region is rapidly developing breakthrough healthcare technology, such as intelligent virtual assistants.
As a part of the report, the major players operating in the global health intelligent virtual assistant market, that have been covered are Nuance Communications, Inc., CodeBaby Corporation, eGain Corporation, MedRespond, True Image Interactive, Inc., and Welltok, Inc.
The market analytics report segments the health intelligent virtual assistant market using the following criteria:
• BY PRODUCT
o Chatbot
o Smart Speakers
• BY TECHNOLOGY
o Automatic Speech Recognition
o Text-to-speech
o Text-Based
• BY END USERS
o Payer
o Providers
o Others
• BY GEOGRAPHY
o North America
• United States
• Canada
• Mexico
o South America
• Brazil
• Argentina
• Others
o Europe
• Germany
• France
• United Kingdom
• Spain
• Others
o Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
o Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others
Companies Profiled:
• Nuance Communications, Inc.
• CodeBaby Corporation
• eGain Corporation
• MedRespond
• True Image Interactive, Inc.
• Welltok, Inc
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Ankit Mishra
Knowledge Sourcing Intelligence LLP
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