Artificial Intelligence
Asia Pacific Smart Manufacturing Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)
New York, May 14, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Asia Pacific Smart Manufacturing Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06062822/?utm_source=GNW
As the population ages, along with rising labor costs in Europe and North America, the legacy model based on inexpensive workers is no longer sustainable. Owing to such factors, low-end manufacturing firms are increasingly moving their operations to Southeast Asia to cut costs.
– Industry 4.0 is the latest revolution in the manufacturing landscape where factories integrate production machines, wireless connectivity, and sensors and link them to a system platform ecosystem that oversees the whole production line process and executes decisions autonomously. With the help of smart manufacturing, manufacturers in the region can transform businesses and achieve significant value by leveraging the Industrial Internet of Things (IIoT), cloud, and analytics solutions.
– Big data analytics can refine complicated processes and support new business models, like mass customization and product-as-a-service (which can be made possible by smart manufacturing) apart from the traditional operational models like “on-demand”; as big data analytics allows an enterprise to use smart manufacturing to shift from reactionary practices to predictive ones. The increase in the industrial 4.0 practices across various manufacturing industries, therefore, provides more scope for the acceptance of big data analytics in the region.
– Manufacturing has emerged as one of the high-growth sectors in India. The ‘Make in India’ program places India on the world map as a manufacturing hub and provides global recognition to the Indian economy. Make in India to succeed, manufacturers in India need to manufacture more efficiently and deploy innovation to stay competitive. Smart manufacturing solutions can help to do that. Manufacturers can focus more on enhancing competitiveness by streamlining supply chains, reducing costs, and improving safety in the workplace. Simultaneously, solutions like robotics, analytics, and cybersecurity strengthen their ability to meet quality norms.
– Further, the automated industrial economy has opened in Japan, and the development in Industrial version 4.0 is speeding up faster. Japan has emerged to become a manufacturing hub for factory automation products, supplying them to other regional markets in the Asia-Pacific region, making factory automation more affordable in the area. Products sourced from Japan are prone to lesser shipment costs and have better aftersales support networks in the region.
– With the Made in China 2025 initiative allowing relocation manufacturing back to China, the Southeast Asian countries are under pressure to ascertain and minimize the risk of labor issues and Industry 4.0. This is currently impacting smart manufacturing development in the region. Moreover, the majority of the companies in the region are not familiar with the benefits of Industry 4.0 on productivity and growth. If adopted and implemented correctly, it has been estimated that Industry 4.0 has the potential to increase 30-40% of productivity.
– Following the COVID-19 outbreak, supply chains in the Asia Pacific have experienced tremendous stress. Production and the distribution network have been frequently interrupted by factories in the region, closing on a considerable scale and transportation linkages being severed to contain the virus. With temporary production interruptions and longer lead times to receive essential raw materials and parts, manufacturing performance in the region over the outbreak period has taken a hit. With the COVID-19 impact, in the long-term future, it is expected that manufacturers operating in the region to adopt Industry 4.0 operating procedures to become more agile and mitigate production and distribution shortfalls should an event like this ever happen again.
Key Market Trends
Oil and Gas is Expected to Hold Significant Share
– The oil and gas end-user industry is one of the earliest pioneers of predictive maintenance due to the need for lowering the cost of maintenance while mitigating risks of environmental disasters. This is due to sensors that can now be easily installed into and onto machinery. These sensors can easily feed the data into specially developed predictive algorithms that can warn them about potential failures. ? Due to the increasing demand for energy in the long term, the oil and gas industry faces many challenges in its complete value chain, and there is a need for significant technology.
– A lot of data is being generated in the oil and gas sector. A large part of this data consists of exploration, production, and reservoir data logs, such as well logs, seismic surveys, conventional and special core analyses, static and flowing pressure measurements, fluid analyses, pressure-transient tests, and periodic functional production tests, among others. Owing to such factors, there has been an enormous opportunity created for the vendors to offer a solution for data management and advanced analytical tools.
– Vendors in the region have been offering solutions that allow the companies to use AI technologies, such as natural language processing and computer vision, to extract data from these documents automatically. Such demands of real-time analysis and visualization of data have driven for formulating partnerships with analytics solution providers. The ongoing shift to becoming smart is expected to present even more significant potential, given the strategic push by many companies to expand their downstream operations of the oil and gas value chain, especially petrochemicals.
– In 2019, China produced around 191 million tons of oil and approximately 173 billion cubic meters of natural gas. Annual investment in upstream exploration and production was CNY 332 billion. Chinese authorities have called for efforts to expand crude oil and gas output to bolster the country’s energy security and support a national campaign to shift away from coal. China relies on imports for nearly 70% of crude oil and half its natural gas consumption, which is expected to boost the implementation of smart manufacturing in this sector.
– In June 2019, Oil India decided to deploy AI solutions to fight against oil pilferage in some parts of the country where there has been a rising incidence of rampant oil thefts from the pipelines. Following this, Oil India is planning to transmit real-time data to oil and gas collecting stations for detailed analysis, thereby spotting any disruption immediately. Countries like China, India, Japan, and South Korea have one of the most active oil and downstream gas sector in the region, which together is responsible for over 78% of the oil refining capacity, with significant refineries deeply integrated with petrochemical production units, in the Asia Pacific region.
China is Expected to Hold Major Share
– China is an integral part of Asia’s growing shift to intelligent applications. The Chinese Government has strengthened the design of smart manufacturing by implementing various schemes and demonstrations in developing standard systems. China aims to create 15 manufacturing innovation centers by 2020 and 40 by 2025. The areas of focus include automated machine tools & robotics, new advanced information technology, aerospace, and aeronautical equipment, maritime equipment and high-tech shipping, modern rail transport equipment, new-energy vehicles and equipment, power equipment, agricultural equipment, new materials, and biopharma and advanced medical products.
– The Chinese Government has created a roadmap to become the leading AI superpower by 2030. Considering AI development and proliferation, the Government focuses on integrating AI technology in China’s factories to harness and adopt the practices of Integrated intelligent systems, which includes networked vehicles, service robots, drones, video image identification systems, voice interaction system, smart sensors, neural network, and chips.
– Many medium and large manufacturers in China are starting to equip data analytics to optimize factory operations, boost equipment utilization, product quality, and, at the same time, reduce energy consumption and production cost. With the latest supply-network management tools, factory operational managers have a more unobstructed view of raw materials and manufactured parts flowing through a manufacturing network. This can help them schedule manufacturing operations and product deliveries to reduce costs and improve efficiency. With the active use of data mining technology, engineers and technicians are gaining new insight into a machine failure to enhance reliability.
– In October 2019, Honeywell launched its Smart Manufacturing Research Center in Shanghai, in a bid to further tap into the Chinese market by diversifying its investment and development in the country. The Smart Manufacturing Research Center will also serve in an advisory role for Chinese businesses and the Chinese Government, and facilitate collaborations with universities, research institutes, and nonprofit organizations to promote the country’s high-quality development.
– In September 2019, Ericsson implemented smart manufacturing capabilities as a SEK 500 million transformation of the company’s existing factory in Nanjing, China, reached its conclusion. The automated factory stands among one of the most advanced manufacturing facilities in the industry. The expertise of ways of working with analytics, artificial intelligence, and machine learning tools have benefited from the investment by the company. Artificial Intelligence is now used to recognize components in the production line, increasing efficiency, accuracy, and quality.
Competitive Landscape
The Asia Pacific Smart Manufacturing Market is quite fragmented as there are numerous international companies such as ABB Ltd, Honeywell International Inc., Siemens AG, Schneider Electric and Rober Bosch offering various number solutions related to control systems, robotics, machine vision systems, and analytics to enhance the productivity of the manufacturing processes across the end-user verticals. The companies in the market are undergoing various partnerships and product innovations to increase their market share.
– February 2020 – Honeywell and Tech Mahindra teamed up to build ‘Factories of the Future,’ leveraging industry-leading digital technologies. The two companies plan to capitalize on digital transformation, 5G, Industry 4.0, software capabilities, and engineering expertise to enable customers in the manufacturing industry to scale-up even faster. Both companies will aim to deliver world-class operations and performance management to facilitate manufacturing customers to expedite their growth and realize the value of Industry 4.0 technologies and solutions.
– September 2019 – Siemens will build its most advanced factory for the production of distribution transformers in Guangzhou, China. The factory is expected to put into operation in 2021, will apply Industry 4.0 standard, and become a Siemens model factory in the global industry. The company even formed an open innovation ecosystem where governments, businesses, and academia work together to massively apply digital technologies such as digital power plant, industrial IoT, smart campus, and connected mobility.
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Artificial Intelligence
SimSpace Welcomes Matt Knutsen as New Chief Revenue Officer to Spearhead Expansion Plan
SimSpace strengthens their leadership team, appointing Knutsen to drive revenue growth for the company as it expands further into the public sector
BOSTON, May 2, 2024 /PRNewswire/ — SimSpace, the US-based industry leader in AI-Powered cyber ranges, announced today the appointment of Matt Knutsen as its new Chief Revenue Officer (CRO). Matt will champion SimSpace’s global sales and revenue growth strategy. He will drive expansion initiatives and foster strategic partnerships to stress test businesses’ and state agencies’ people, processes and technologies against the most advanced adversaries.
With more than 20 years of experience in the field, Matt most recently held the position of CRO at cyber training provider Immersive Labs, where he increased revenue growth by over 4000% and attracted over $180M in investment. He also launched the company into new markets, expanding the team across Australia, Europe, the Middle East, New Zealand and the US. The combination of Matt’s wealth of experience and his in-depth industry knowledge make him well-equipped to lead SimSpace’s next phase of growth.
As nation-state attacks rise in frequency, and AI drives a new wave of severe cyberattacks, companies also have to navigate uncertain economic conditions. SimSpace empowers organizations to cut unnecessary spending through stack optimization, allowing CISOs to maximize their ROI and effectiveness of their technology stack. Knutsen’s influence in the field will propel the SimSpace Platform to new heights, advancing access for companies and governments that need to optimize their cybersecurity defenses and safeguard their critical infrastructure from an increasingly volatile threat landscape.
Matt Knutsen is the most recent addition to SimSpace’s Executive Leadership Team, following Clint Sand’s appointment as Chief Product Officer in February 2024. His appointment underscores SimSpace’s continued growth trajectory, headed by the $45M they secured in funding from L2 Point Management, bringing the total capital raised over the past year to $70M. The company has also bolstered their presence in the public sector, marked by their recent partnership with Carahsoft and their multi-year contract with Florida to enhance the state’s cybersecurity preparedness. SimSpace’s high fidelity cyber ranges and simulations will enable state agencies and programs like Cyber Florida to rehearse and respond to cyberattacks.
Commenting on Matt’s arrival, SimSpace CEO William Hutchison said, “Matt is a seasoned executive, who has accumulated years of knowledge on cybersecurity best practices and established himself as a leading authority in cyber range exercises. His industry influence, strategic vision and conviction in the importance of cybersecurity preparedness will shape the future success of the company at this crucial time of expansion. With Matt leading our revenue organization, we have full confidence in our capacity to deepen our valued partnerships and build strong, new connections which will further elevate SimSpace’s position as a trusted cybersecurity partner.”
Matt Knutsen, Chief Revenue Officer commented, “I’m looking forward to bringing a proactive approach to cybersecurity risk management to even more private and public sector organizations. I’ve already been impressed by SimSpace’s high-fidelity cyber range simulations, both on and off premise. It’s a great time to be joining the company and I’m excited to build upon SimSpace’s recent rapid growth with even more partnerships.”
About SimSpace
SimSpace is the global leader in AI-Powered cyber ranges, founded by experts from U.S. Cyber Command and MIT’s Lincoln Laboratory to respond to a new era of unprecedented cyber threats. Having raised nearly $70 million in funding over the past year, the company’s Platform enables the most sophisticated enterprises, governments, and critical national infrastructure organizations to find intelligence-driven answers to the most vexing security, governance, training, and cyber readiness questions. SimSpace provides high-fidelity cybersecurity simulations, training, and safe live-fire exercises to Fortune 2000 financial, retail, insurance, and other commercial markets. SimSpace’s Platform results in an average reduction in cyber operational costs of 30% and a 40% reduction in breaches.
For more information, please visit: www.SimSpace.com.
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Artificial Intelligence
Enterprise AI Market to Be Worth $171.2 Billion by 2031–Exclusive Report by Meticulous Research®
REDDING, Calif., May 2, 2024 /PRNewswire/ — According to a new market research report titled, ‘Enterprise AI Market by Offering (Solutions, Services), Deployment Mode, Organization Size, Technology (ML, NLP), End-use Industry (IT & Telecom, Healthcare, Retail & E-commerce, Media & Advertisement) and Geography—Global Forecast to 2031,’ the global enterprise AI market is projected to reach $171.2 billion by 2031, at a CAGR of 32.9% from 2024 to 2031.
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Enterprise artificial intelligence (AI) is the integration of advanced AI-enabled technologies and techniques within large organizations to enhance business functions. Enterprise AI encompasses routine tasks of an organization such as data collection and analysis, supply chain management, finance, marketing, customer service, human resources and cybersecurity, and risk management. Enterprise AI is an integration of AI-enabled technologies such as machine learning, natural language processing, image processing, and speech recognition. Enterprise AI is used in various industries such as media & advertising, healthcare, retail & e-commerce, BFSI, government, automotive, and IT & telecom.
The growth of the enterprise AI market is driven by enterprises’ increasing need to enhance customer satisfaction and the growing implementation of enterprise AI solutions in the IT & telecom sectors. However, the high costs of enterprise AI solutions restrain the growth of this market. Furthermore, the increasing need for conversational AI solutions for optimized sales & marketing management and the growing need to automate business processes are expected to generate growth opportunities for the players operating in this market. However, data privacy & security concerns are a major challenge impacting market growth. Additionally, the growing adoption of AI chatbots for customer interaction and the increasing integration of Machine Learning (ML) technology into enterprise AI solutions are prominent trends in this market.
The global enterprise AI market is segmented by offering (solutions and services [professional services and managed services]), deployment mode (cloud-based deployment and on-premise deployment), organization size (large enterprises and small & medium-sized enterprises), technology (machine learning, image processing, natural language processing, and speech recognition), end-use industry (media & advertising, healthcare, retail & e-commerce, BFSI, government, automotive, IT & telecom, and other end-use industries), and geography. The study also evaluates industry competitors and analyses the market at the country and regional levels.
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Based on offering, in 2024, the solutions segment is expected to account for the larger share of 63% of the enterprise AI market. The segment’s large market share is attributed to the growing adoption of enterprise AI solutions to solve specific business challenges or streamline business processes and the growing implementation of these solutions to automate tasks, analyze data, and provide insights.
However, the services segment is expected to register a higher CAGR during the forecast period. The growth of this segment is driven by the growing need for AI consulting, data analysis, and enterprise-grade AI solution development, maintenance, and support and the rising adoption of services to automate tasks and help improve business operations efficiently.
Based on deployment mode, in 2024, the on-premise deployment segment is expected to account for the largest share of the enterprise AI market, with a revenue contribution of around USD 13 billion. The segment’s large market share is attributed to the increasing on-premise deployment of enterprise AI solutions by large enterprises and the growing demand for service flexibility, enhanced customer experience, and efficiency in managing risks and compliance.
However, the cloud-based deployment segment is expected to register a higher CAGR during the forecast period. The growth of this segment is driven by benefits associated with cloud-based deployment, including easy maintenance of customer data, cost-effectiveness, and scalability, and the increasing demand for enterprise AI solutions that support multi-cloud deployments.
Based on organization size, in 2024, the large enterprises segment is expected to account for the larger share of the enterprise AI market. The segment’s large market share is attributed to the growing emphasis on developing strategic IT initiatives among large enterprises, the increasing need to manage large volumes of customer-level data, and the early adoption of advanced technologies across various sectors such as retail, manufacturing, healthcare, and automotive.
However, the small & medium-sized enterprises segment is expected to register a higher CAGR during the forecast period. The growth of this segment is driven by the increasing need for chatbots and digital assistants among small & medium-sized enterprises and the increasing need to improve performance, quality management, and customer satisfaction in call centers.
Based on technology, in 2024, the machine learning segment is expected to account for the largest share of the enterprise AI market. The segment’s large market share is attributed to the growing adoption of enterprise AI solutions with machine learning capabilities to analyze historical data and identify patterns and the increasing use of these solutions in e-commerce, streaming platforms, and content websites.
However, the natural language processing segment is expected to register the highest CAGR of 37.4% during the forecast period. The growth of this segment is driven by the growing need to understand, interpret, and generate human language data and the rising adoption of NLP to analyze user preferences, behaviors, and interactions to deliver personalized content.
Based on end-use industry, in 2024, the IT & telecom segment is expected to account for the largest share of 26% of the enterprise AI market. The segment’s large market share is attributed to the increasing demand for personalized customer experiences enabled by AI technologies, the rising adoption of AI for analyzing data from network sensors to optimize operations, and the growing utilization of AI to enhance network performance and deliver customized services. Also, this segment is expected to register the highest CAGR during the forecast period.
Based on geography, in 2024, North America is expected to dominate the global enterprise AI market. North America enterprise AI market is estimated to be worth USD 9 billion in 2024. North America’s significant market share can be attributed to the growing adoption of enterprise AI solutions in the retail, healthcare, and finance sectors, the rising implementation of AI to enhance customer engagement, inventory management, and personalized shopping experience, and the increasing use of chatbots on websites, social media platforms, and messaging apps to respond customer inquiries.
However, Asia-Pacific is expected to register the highest CAGR of 34.3% during the forecast period. The growth of this regional market is driven by the growing emphasis by companies to launch chatbots and virtual assistants in the Asia-Pacific region, growing demand for chatbots and voice assistant solutions, and increasing demand for AI-powered customer support services.
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The key players operating in the enterprise AI market are NVIDIA Corporation (U.S.), Google LLC (A subsidiary of Alphabet Inc.) (U.S.), Amazon Web Services, Inc. (A Subsidiary of Amazon.com, Inc.) (U.S.), International Business Machines Corporation (U.S.), Microsoft Corporation (U.S.), Verint Systems Inc. (U.S.), SAP SE (Germany), Pegasystems Inc. (U.S.), Wipro Limited (India), Intel Corporation (U.S.), Oracle Corporation (U.S.), Hewlett Packard Enterprise (U.S.), MicroStrategy Incorporated (U.S.), Amelia US LLC (U.S.), Sentient.io (Singapore).
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Scope of the Report:
Global Enterprise AI Market Assessment—by Offering
SolutionsServicesProfessional ServicesManaged ServicesGlobal Enterprise AI Market Assessment—by Deployment Mode
On-premise DeploymentCloud-based DeploymentGlobal Enterprise AI Market Assessment—by Organization Size
Large EnterprisesSmall & Medium-sized EnterprisesGlobal Enterprise AI Market Assessment—by Technology
Machine LearningNatural Language ProcessingImage ProcessingSpeech RecognitionGlobal Enterprise AI Market Assessment—by End-use Industry
IT & TelecomNetwork OptimizationCustomer Service Automation and Virtual AssistantsHuman Resource ManagementCustomer AnalyticsCybersecurityOther IT & Telecom Applications BFSISecurity and Risk ManagementStreamlining Regulatory ComplianceCustomer Relationship ManagementReal-Time Transaction MonitoringData Analytics & PredictionOther BFSI Applications HealthcareHospital Workflow ManagementLifestyle ManagementPatient Data & Risk AnalyticsMedical Imaging & DiagnosisPrecision MedicineRemote Patient MonitoringRobot-assisted SurgeryDrug Discovery Retail & E-commerceSearch and RecommendationsCustomer Relationship ManagementInventory ManagementSupply Chain OptimizationIn-store Visual Monitoring & SurveillancePredictive AnalyticsDemand ForecastingChatbots Media & AdvertisementChatbots and Virtual AssistantsPredictive AnalyticsSales & Marketing AutomationAdvertising RecommendationContent GenerationTalent IdentificationProduction Planning & Management AutomotiveAdvanced Driver Assistance SystemsHuman-Machine InterfaceVehicle PersonalizationDesigning and Production ManagementSupply Chain ManagementOther Automotive Applications GovernmentFraud Detection and PreventionAdministrative ProcessesDisaster Management and ResponsePersonalized User SupportOther Government Applications Other End-use IndustriesGlobal Enterprise AI Market Assessment —by Geography
North AmericaU.S.CanadaEuropeGermanyU.K.FranceItalySpainRest of EuropeAsia-PacificChinaJapanIndiaSouth KoreaSingaporeRest of Asia-PacificLatin AmericaMiddle East & AfricaRelated Reports:
Conversational AI Market by Offering, Application, Organization Size, Deployment Mode, Sector (IT & Telecommunications, BFSI, Retail & E-commerce, Healthcare & Life Sciences, Travel & Hospitality, Education, Manufacturing) – Global Forecast to 2030
Speech and Voice Recognition Market by Function (Speech, Voice Recognition), Technology (AI and Non-AI), Deployment Mode (Cloud, On-premise), End User (Consumer Electronics, Automotive, BFSI, Other End Users), and Geography – Global Forecast to 2030
AI in Manufacturing Market by Component, Technology (ML, NLP, Computer Vision), Application (Predictive Maintenance & Machinery Inspection, Quality Management, Supply Chain Optimization), End-use Industry – Global Forecast to 2030
AI in E-commerce Market by Technology (ML, NLP, Computer Vision), Business Model, Deployment Mode, Product Offering (Beauty & Fashion, Pharmaceutical, Electronic), End User (B2B, B2C), and Geography – Global Forecast to 2031
Healthcare Artificial Intelligence Market by Offering (Software, Services), Technology (ML, NLP), Application (Hospital Workflow Management, Patient Management), End User (Hospitals & Diagnostic Centers), and Geography – Global Forecast to 2031
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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Artificial Intelligence
Virtual Assistant Market Size to Grow USD 8613.5 Million by 2030 at a CAGR of 22.3% | Valuates Reports
BANGALORE, India, May 2, 2024 /PRNewswire/ — Virtual Assistant Market is Segmented by Type (Fax, Media), by Application (Retail & Ecommerce, BFSI, Automotive, Healthcare).
The Global Virtual Assistant Market was valued at USD 2054.5 Million in 2023 and is anticipated to reach USD 8613.5 Million by 2030, witnessing a CAGR of 22.3% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Virtual Assistant Market:
Because of its advanced digital infrastructure and early acceptance of technology, North America is the leader in the virtual assistant business. With so many tech-savvy professionals in the US and Canada, virtual assistant jobs are becoming more and more appealing to them as flexible work options. This region’s virtual assistant platform industry is growing due in part to the presence of large technological corporations and startups. Furthermore, as companies look for affordable options for administrative help, the surge in remote work trends—particularly in the wake of the pandemic—has increased demand for virtual assistants.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL VIRTUAL ASSISTANT MARKET
The growing requirement for efficient administrative support services is driving the virtual assistant market in the BFSI sector. Virtual assistants, who manage administrative tasks including data entry, document preparation, and email correspondence, are a wonderful asset to financial firms. Their remote access to planning resources from a home office makes it easier for clients to cooperate and boosts output. Additionally, virtual assistants with specialised knowledge in banking, finance, and regulatory compliance improve customer service and operational performance in the BFSI sector.
Because they offer administrative help to companies in the retail and e-commerce sectors, virtual assistants are essential to this industry. Virtual assistants let retailers focus on their main business activities by streamlining their operations and performing tasks like inventory management, product listing updates, and customer questions and orders processing. Their remote access to common calendars and other planning materials guarantees smooth client collaboration and improves responsiveness to client requests. Because virtual assistants provide flexible support services that can adjust to changing demand levels, they can help retail and e-commerce enterprises scale.
Virtual assistants are fostering growth in the automotive industry by offering administrative support services to companies in this field. Virtual assistants help auto firms with a range of duties, such as addressing client questions, making appointment arrangements, and organising logistics for car delivery and maintenance. The flexibility and efficiency of the automotive supply chain are increased by their remote access to planning documents and capacity to work from home offices. Furthermore, virtual assistants enhance client satisfaction by offering prompt help and support during the whole lifespan of a vehicle.
The market for virtual assistants is expanding in the healthcare industry as providers look to enhance patient care and streamline administrative procedures. Virtual assistants help healthcare businesses by taking care of patient queries, organizing appointments, and helping with medical paperwork duties. They may collaborate with healthcare professionals more easily and efficiently since they can work from home offices and access shared calendars and patient information. By promptly responding to questions and concerns about healthcare, virtual assistants can help to increase patient satisfaction.
The demand for cost-cutting and operational efficiency, the emergence of software-defined networking (SDN) technologies, and the growing complexity of network infrastructures are the main drivers of the market for network automation. In response to expanding digital transformation projects and the growth of cloud-based services and apps, organisations across a wide range of sectors are adopting automation to increase agility, streamline network administration operations, and boost security posture.
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VIRTUAL ASSISTANT MARKET SHARE ANALYSIS
Due to the region’s early technological adoption and strong digital infrastructure, North America now dominates the virtual assistant industry. There is a sizable pool of tech-savvy workers in the US and Canada who are increasingly looking for flexible work options in virtual assistant professions. The existence of established tech firms and new ventures focused on virtual assistant platforms contributes to the expansion of this industry in this area. In addition, as companies look for affordable options for administrative help, the need for virtual assistants has increased due to the rise in remote work patterns, particularly in the wake of the pandemic.
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Key Companies:
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