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Artificial Intelligence

Global Digital Assistant Market (2021 to 2026) – Featuring Amazon, Apple and Baidu Among Others

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Dublin, Dec. 20, 2021 (GLOBE NEWSWIRE) — The “Digital Assistant Market – Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering.

The global digital assistant market is projected to grow at a CAGR of 32.17% to reach US$33.771 billion by 2026, from US$4.793 billion in 2019.

Digital assistant is an advanced computer program that uses advanced artificial intelligence (AI), natural language processing, natural language understanding, and machine learning to learn as they simulate a conversation with people who use it typically over the internet to provide a personalized, conversational experience.

Driving Factors

The growing use of digital assistance in various sectors such as IT & Telecom,automotive, healthcare due to needing for improved efficiencies across these industries and service-based companies and the integration of Artificial Intelligence (AI) powered intelligent virtual assistant (IVA) among various devices such as tablets, computers, and smartphones has driven the global digital assistance market in the forecast period.

Also, growth in smartphone penetration is one of the key growth drivers of the global digital assistance market. With the increasing demand for smartphones, companies are trying to integrate advanced and unique features into their product to attract more users. These unique features also include IVA-enabled apps and improved performance where intelligent and smart virtual assistance provides ease of conveyance in comparison to old technology along with other features such as natural language understanding, voice recognition, and affordability.

Large-scale enterprises have also been implementing digital assistants since they help and assist in the elimination of the infrastructure setup cost. Hence, the cost-effectiveness and the feasibility of IVA is imperative to factor that drivesits adoption in enterprises which in turn helps in the support of the global digital assistance market growth.

Restraints

One of the prime restraints for digital assistance is the security flaws as the increasing integration of virtual assistants gives rise to many privacy concerns amongst users and the slow adoption and limited awareness in developing countries will hamper the demand for digital assistance and restrain its growth in the market

Market Segmentation

By industry, the BFSI, IT & Telecom industry, Automotive industry, Healthcare, and Educational sector are anticipated to be the growth factors for the global digital assistance market. The automotive industry is emerging to be one of the fastest-growing segments in the digital assistance market owing to the integration of virtual assistance with the infotainment system contributes towards sending personalized content as well as enhances convenience and comfort. Several automotive companies like BMW, Audi, Hyundai have invested in voice-enabled infotainment systems. In January 2020, Amazon announced the launch of Echo Auto, an advanced and novel voice assistant device that contributes toward improving the overall driving experience. All these factors have led to the growing market of digital assistance.

By type, the global digital assistance market is segmented into speech recognition and Text speech recognition. The speech recognition segment is anticipated to grow in the forecast period owing to the wide adoption of smart speakers in various sectors as smart speakers recognize speech and respond accordingly. The growth of mobile computing technology has surged the widespread demand for the automatic speech recognition segment. Major smart speaker manufacturers in the industry are Google Home, Amazon-Alexa, and Bose.

By end-user, the use of digital assistance in small and medium enterprises, large enterprise, and individuals have boosted the digital assistance market and led to its growth. The large enterprise demand for digital assistance technology has boosted the market as it is not physically possible to meet every need in a large enterprise due to which high deployment of these AI-based assistants has surged the demand in the market.

Geographically, the Asia Pacific region is anticipated to have maximum growth owing to the growth in the automotive and healthcare sectors in the region. The development of AI-powered digital assistance in these industry sectors amid the pandemic in the healthcare industry has boosted the demand in this region.

In July 2018, SBI Card launched the ELA (Electronic Live Assistant), a virtual assistant for customer services and support which is driven and run by Machine learning and AI and has been designed and built to enhance the customer’s overall experience by offering immediate and appropriate replies to key customer queries.

Impact of COVID-19 on the digital assistance market

The COVID-19 pandemic has had a great impact on the world as a whole and has led to economic breakdown and loss of life. The impact of COVID-19 is anticipated to have a significant impact on the service domain in the technology industry. The COVID- 19 pandemic outbreak, where keeping safe distance among each other will inspire the healthcare industry and pharmaceutical vendors to improve their research and development in AI, which is a core technology for enabling various initiatives.

Many industrial sectors such as grocery outlets, financial organizations have initiated the implementation of intelligent virtual assistants and conversational AI tools to enhance customer service in the pandemic. Many medical insurance companies and government websites have deployed chatbots to assist people in providing proper precautions and COVID-19 advice. Many business sectors have invested in new technological avenues such as virtual assistants amid the pandemic. The positive impact on the digital assistance market during the outbreak is a result of reestablishing the importance of automation and virtual assistance in today’s world.

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Function
4.4. Function Value Chain Analysis

5. Global Digital Assistant Market Analysis, By Type
5.1. Introduction
5.2. Speech Recognition
5.3. Text-to-speech Recognition

6. Global Digital Assistant Market Analysis, By End User
6.1. Introduction
6.2. Individuals
6.3. Small and Medium Enterprises
6.4. Large Enterprises

7. Global Digital Assistant Market Analysis, By Industry
7.1. Introduction
7.2. BFSI
7.3. IT & Telecom
7.4. Automotive
7.5. Healthcare
7.6. Education
7.7. Others

8. Global Digital Assistant Market Analysis, By Geography
8.1. Introduction
8.2. North America
8.2.1. United States
8.2.2. Canada
8.2.3. Mexico
8.3. South America
8.3.1. Brazil
8.3.2. Argentina
8.3.3. Others
8.4. Europe
8.4.1. UK
8.4.2. Germany
8.4.3. France
8.4.4. Spain
8.4.5. Others
8.5. Middle East and Africa
8.5.1. Israel
8.5.2. Saudi Arabia
8.5.3. Others
8.6. Asia Pacific
8.6.1. Japan
8.6.2. China
8.6.3. India
8.6.4. Indonesia
8.6.5. Taiwan
8.6.6. Thailand
8.6.7. Others

9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix

10. Company Profiles
10.1. Amazon
10.2. Apple
10.3. Baidu Inc.
10.4. Creative Virtual Ltd
10.5. Facebook
10.6. Google
10.7. IBM
10.8. Microsoft
10.9. Samsung
10.10. Clara Labs

For more information about this report visit https://www.researchandmarkets.com/r/orh517


GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Artificial Intelligence

Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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