Health Intelligent Virtual Assistant Market to Witness Overwhelming Growth Owing to Increasing Emphasis on Patient Engagement Till 2025 | Million Insights

Health Intelligent Virtual Assistant Market to Witness Overwhelming Growth Owing to Increasing Emphasis on Patient Engagement Till 2025 | Million Insights

PR Newswire

FELTON, California, June 23, 2020

FELTON, California, June 23, 2020 /PRNewswire/ -- The global Health Intelligent Virtual Assistants Market size is projected to touch USD 2.95 billion by the end of 2025, as per the report released by Million Insights. It is projected to ascend with a CAGR of 39.1% from 2018 to 2025. Factors such as technological advancement and increasing emphasis on patient engagement are projected to bode well for the market growth over the forecast years. Increasing penetration of IoT and growing preference for AI in the healthcare segment are further predicted to fuel the product demand in the upcoming years.

Smart virtual assistants, having capabilities to listen to voices of customers and respond consequently, are supporting in daily tasks. For example, virtual assistants aid customers to purchase a service or product and reduce the overall waiting time on the call for consumer service. Further, other abilities of virtual assistance can be used in various industries, thereby, enhancing customer experience in that specific industry.

For example, in insurance and healthcare sectors, technology such as IVA can prevent the waiting time for a customer or searching portals for queries. Virtual assistants can help customers in finding doctors, refill a prescription, payment reminders, and an office. Further, customers can seek IVA for enrolling in any new insurance or offer an update on their subscription.

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Technological advancements from the past many years in automation, machine learning, AI, IoT, NLP, and conversation interface allowing health intelligent virtual assistance to become more useful and efficient. The use of these technologies is made accessible in virtual assistance by the key manufacturers such as Google, Amazon, and Apple. Products sold by these players work as intermediaries between enterprise and their several services to customers.

North America held the largest market share in 2017 due to the rising preference for IoT and the growing penetration of smartphones. Shortfall of physicians/clinicians and the need for an effective healthcare system owing to rapid urbanization in nations such as the U.S. is expected to bode well for the market growth over the estimated duration.

Further key findings from the report suggest:

Browse 180 page research report with TOC on "Global Health Intelligent Virtual Assistant Market" at: https://www.millioninsights.com/industry-reports/global-health-intelligent-virtual-assistant-market

Million Insights has segmented the global health intelligent virtual assistants market on the basis of product, technology, end user, and region:

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