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Best Intelligent Virtual Assistants Statistics
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- 69% reported reduced operational costs due to chatbot usage. [0]
- Despite these gains, chatbots donât come without challenges, with 48% reporting customer frustration and churn due to chatbot usage. [0]
Intelligent Virtual Assistants Market Statistics
- The intelligent virtual assistant market size was valued at $ 3,442 billion in 2019, and is projected to reach $ 44,255 million by 2027, growing at a CAGR of 37.7% from 2020 to 2027. [1]
- The chatbot market size is projected to grow from $2.6 billion in 2019 to $9.4 billion by 2024 at a compound annual growth rate of 29.7%. [2]
- Market, By Service Consumer service segment captured a majority market share and is poised to observe 37% CAGR through 2024. [3]
- SMBs segment accounted for more than 30% of the IVA market revenue share. [3]
- The intelligent virtual assistant market in automotive applications is predicted to exceed USD 2.8 billion by 2024 on account of the increasing use of technology in connected cars. [3]
- The same study found that the virtual assistant industry market size is growing at a rate of 12% CAGR. [4]
- The same report suggests that the outsourcing market is expected to grow at a rate of 8.5% from 2020 to 2028, and customer service makes up over 31% of its revenue. [4]
- The Intelligent Virtual Assistant market was valued at USD 2.58 billion in 2020 and is expected to reach USD 6.27 billion by 2026, at a CAGR of 36.45% over the forecast period 2021. [5]
- For instance, Nuance Communications, a prominent player in the market, revealed that 80% of 10,000 US clinicians believe that virtual assistants would drastically change healthcare by the end of 2019. [5]
- Semrush reports the following AI statistics 80% of marketers in 2020 already had chatbots as part of their customer experience strategy. [0]
- 48% of marketing leaders cite AI as making the most significant different in how customers interact with them. [0]
- 64% of B2B marketers consider AI to be valuable in their marketing strategy. [0]
- The market size of Conversational AI is expected to reach USD$1.3 billion by 2025, growing at a CAGR of 24%. [6]
- Appleâs Siri and Google Assistant have 36% of market share. [7]
- By the end of 2020, 34% of North American marketers will have launched a voice app, such as an Alexa skill or Google Action. [7]
Intelligent Virtual Assistants Software Statistics
- The same study reveals software company JD Edwards noted that their virtual employees were 2025% more productive than their on. [4]
- Gartner predictsAI software will reach $62 billion in 2024 alone, an increase of 21.3% from 2021. [0]
Intelligent Virtual Assistants Adoption Statistics
- 64% of executives say that user adoption hesitancy is the main reason why they donât intend to implement chatbots. [2]
- Insider Intelligence estimates that up to 73% of healthcare admin tasks could be automated by AI, and the adoption of chatbots could save the healthcare, banking, and retail sectors $11 billion annually by 2024. [8]
Intelligent Virtual Assistants Latest Statistics
- Intelligent Virtual Assistant Market AsiaPacific would exhibit the highest CAGR of 40.9% during 2020. [1]
- In addition, banking clients who have implemented intelligent virtual assistant in their operations have affected a 46% improvement in customer handling. [1]
- According to a Mckinsey report, about 10 hours per week on average is spent by an employee for searching and gathering information. [2]
- According to Chatbots Magazine, businesses can reduce customer service costs by up to 30% by implementing conversational solutions like virtual agents and chatbots. [2]
- By 2025, customer service organizations that embed AI in their multichannel customer engagement platforms will elevate operational efďŹciency by 25%. [2]
- Messaging apps will have 5 billion MAUâs in 2020 â about 60% of the world population. [2]
- C level executives start 41% of online chat conversations with businesses. [2]
- By 2024, more than 60% of all customer service engagements will be delivered via digital and web self serve channels, up from 23% in 2019. [2]
- In 2024, the banking industry could see the success rate of bot interactions reach over 90%. [2]
- 85% of customer support interactions will be performed by a chatbot by 2020. [2]
- 80% Percentage of organizations looking to implement chatbots by 2020. [2]
- Gartner predicts that by 2021, over 50% of enterprise companies will spend more money each year on chatbots than mobile apps. [2]
- In a survey of âmore than 2,500 consumers, nearly 60% of respondents believe that one minute is too long to be on hold. [2]
- In addition, 32.3% of consumers believe that customer service departments should be answering immediatelyâwith no hold time.â. [2]
- 61% of consumers say that they have stopped transacting with a business after a poor service experience. [2]
- 29% of the top 100 Android apps were able to answer even the most basic question. [2]
- Conversely, we did not even hear back from 71% of apps. [2]
- â40% of approximately 3,000 consumers in a global survey said they prefer self service to human contact for their future contact with companies.â. [2]
- 60% of customers will abandon a call after waiting too long on a call, and 62% of customers are frustrated by businesses that only offer one or two ways to get in touch with them. [2]
- Almost two thirds said they would wait two minutes or less and 13% said that “no wait time is acceptable”. [2]
- 37% of users say they would use a chatbot to get timely responses in an emergency. [2]
- 27% of consumers were unsure if the last customer support interaction they had was with a real person or a chatbot. [2]
- 35% of people say they would use a chatbot for a complaint, a problem, or to get explanations. [2]
- 34% of retail customers would be comfortable speaking with customer service through an AI chatbot instead of live chat. [2]
- 34% of online buyers said they would prefer to answer questions from AI via chatbots or virtual assistants. [2]
- Chatbots can help brands save up to 30% on their customer support costs. [2]
- Itâs expected that by 2024, up to 80% of common customer service inquiries will be deflected to chatbots, decreasing banking interaction costs by an average of 70 cents per interaction. [2]
- By 2024, 30% of customer service organizations will deliver proactive customer services by using AI enabled process orchestration and continuous intelligence. [2]
- By 2024, 35% of the customer service workload will be done through crowdsourcing, telecommuting, workathome agents and gig economy workers, up from 5% in 2017. [2]
- Intelligent Virtual Assistant Market size exceeded USD 1 billion in 2017 and is projected to grow at 37% CAGR through 2024. [3]
- Forecast Period2018 to 2024 Forecast Period 2018 to 2024 CAGR37%. [3]
- The BFSI applications is estimated to expand at 20% CAGR till 2024. [3]
- According to a report published by Federal Association for Information Technology of Germany, about 13% of people own voice. [3]
- The industry share of intelligent virtual assistant is projected to witness more than 37% growth rate during 2018 to 2024. [3]
- The BFSI applications are expected to expand at more than 20% CAGR during the forecast timeframe. [3]
- According to a 2020 study, hiring virtual assistants But how?. [4]
- Statistics from a 2020 study suggest that 60% of virtual assistants have college degrees as of 2021. [4]
- Out of these 6% have a masterâs degree. [4]
- 24% have other kinds of degrees. [4]
- According to research, India and the Philippines were the top two hiring destinations for Virtual assistants in 2021. [4]
- Filipinos also had one of the highest literacy rates worldwide, at 91.6% in 2019. [4]
- According to statistics by Indeed, the average virtual personal assistant in the US gets paid $19.37/hour. [4]
- According to a 2021 study by Global Workspace Analytics, a global card services provider,. [4]
- American Expressâ remote employees are 43% more productive than their office counterparts. [4]
- One survey reveals that over 23.9% of virtual assistants work for 31 to 40 hours/week in 2021. [4]
- Thatâs a significant increase compared to the 9% of virtual employees who worked for 31 to 40 hours/week in 2007. [4]
- This number is predicted to reach over 90 million by the year 2028. [4]
- At this rate, over 50% of the US workforce will be virtual professionals by 2028. [4]
- Studies show that over 87.7% of virtual assistants are paid by the hour. [4]
- For example, over 82% of freelancers said they were proud of their careers in 2017. [4]
- Additionally, according to a 2017 ReportLinker survey, over 65% of freelancers believe theyâre happier working independently than as traditional employees. [4]
- In fact, over 84% of the virtual workers said that they found their job to be purposeful. [4]
- Buffer reported that over 27% of remote work employees struggled with unplugging after work hours in 2021. [4]
- The same study also observed that over 16% of remote employees faced difficulty collaborating with their clients. [4]
- As a result of the nature of their job, more than 15% also faced loneliness and increased stress. [4]
- Another 2020 research by Robert Half suggests that over 55% of remote employees now work on the weekends, and over 34% put in more than eight hours of work in a day. [4]
- Research data indicates that over 58.9% of VAs work full time, and over 85% own a personal website. [4]
- Additionally, according to a survey by the Society of Virtual Assistants, UK, over 97% of VAs in the UK took up full time employee job roles in 2021, as compared to 80% in 2008. [4]
- A 2019 report from Zippia also found that of those working full time, over 66% worked for the private sector, while another 29% worked for the public sector. [4]
- A 2020 study found that companies outsourced work to 41% more virtual assistants in 2020, as they laid off full time US staff during the pandemic. [4]
- According to the Business Process Outsourcing Market Size Report, 2021 2028, customer service is the top outsourced task for virtual employees in 2021. [4]
- However, a 2019 CGS survey revealed that over 86% of customers still prefer humans to chatbots and intelligent virtual assistants. [4]
- According to statistics released in 2019, Westar has 39% of its callers able to complete transactions through self. [9]
- In total, 80% of callers reported satisfaction with their overall experience, helping the organization increase its JD Power scores 25% since implementation. [9]
- The service has managed more than 10.5 million requests from 3.3 million unique visitors with a 91% success rate for answering questions posted in English and an 89% success rate for questions posted in Spanish. [9]
- Named after the world’s fastest typist at the time, it had a vocabulary of 20,000 words and used prediction to decide the most likely result based on what was said in the past. [10]
- In mid 2017, the number of frequent users of digital virtual assistants is estimated to be around 1 bn worldwide. [10]
- 6 March 2018.Taylor, Glenn .”Retail’s Big Opportunity 87% Of U.S. Consumers Grasp. [10]
- According to a recent study , the two reasons for using virtual assistants for consumers are perceived usefulness and perceived enjoyment. [10]
- March 2018).”Retail’s Big Opportunity 87% Of U.S. Consumers Grasp The Power Of Conversational Commerce â Retail TouchPoints”. [10]
- 33% are most frustrated by having to repeat themselves to multiple support reps. [11]
- ( HubSpot Research 60% of customers feel that long holds and wait times are the most frustrating parts of a service experience. [11]
- ( Zendesk 30% of customers will leave a brand and never come back because of a bad experience. [11]
- Asia Pacific Largest Market North America CAGR 36.45 % Market Overview. [5]
- According to the latest Smart Audio Report from NPR, around 24% of Americans own at least one smart speaker and, the average owner has more than one. [5]
- The Intelligent Virtual Assistant Market is growing at a CAGR of 36.45% over the next 5 years. [5]
- 86% of CEOs report that AI is considered mainstream technology in their office as of 2021. [0]
- 91.5% of leading businesses invest in AI on an ongoing basis. [0]
- Gartner also tells usthat customer satisfaction is expected to grow by 25% by 2024 in organization that use AI. [0]
- Forbes reports that 50% of enterprises plan to spend more on AI and machine learning in 2021 and 20% report significant increases to their budgets. [0]
- According to Tech Jury 40% of adults use voice assistants to search on a daily basis. [0]
- 50% of all searches were the result of a voice search in 2020. [0]
- 43% choose digital voice assistants because they are faster than type search. [0]
- Forbes tells us that 76% of enterprises surveyed in Algorithmiaâs 2021 report plan to prioritize AI and machine learning initiatives over other IT goals in 2021. [0]
- 83% of organizations have increased their AI and machine learning budgets YOY since 2019. [0]
- Semrush revealed that 38% of employees expect their job to be automated by 2024. [0]
- 13% expect AI to eliminate positions entirely in their industry. [0]
- They show the following Other 22% Technology 17% Financial Services 15% Healthcare 9% Education 8% Government/Public Sector 6% Telecomm 5% Manufacturing. [0]
- 4% Retail 4% Media 3% Energy 3% Defense/Security 3%. [0]
- AI spend in the retail industry is expected to reach $20.05 billion by 2026, a compounded annual growth rate of 39% since 2019. [0]
- 80% of retail executives expect their companies to adopt AI powered intelligent automation by 2027. [0]
- Juniper Researchreports a growth of 230% in machine learning spending between 2019 and 2024. [0]
- Asurvey by Forresterrevealed that 89% found chatbots to be useful or very useful for personalizing customer interactions. [0]
- 63% preferred to speak with a chatbot over a human,according to G2 Crowd. [0]
- 47% finding that significant IT involvement is needed to personalize experiences with chatbots. [0]
- According to Semrush, the forecasted annual growth rate of AI between 2020 and 2027 is 33.2%. [0]
- Gartner predicts that 50% of knowledge workers will use a virtual assistant by 2025. [0]
- 40% of businesses say that customer experience is their top motivator for using artificial intelligence. [0]
- 85% of customer service interactions were responded to by chatbots. [0]
- 51% of ecommerce companies use AI to provide a seamless experience. [0]
- Hiring of virtual assistants through offshore agencies increased 41% in 2020, as companies layed off fulltime US staff during Covid 19 economic restriction periods. [12]
- US unemployment rates ranged from low single digits all the way up to 14% Q2âQ4 2020. [12]
- Solo VAs operating on freelancer platforms added an average hourly workload increase of 16% from Q2âQ4. [12]
- Hiring of Virtual Asistants through agencies increased 41% Year over Year from 2019 to 2020, with individual VAs reporting an average 16% increase in their hourly workload. [12]
- Inbound inquiries to VA agencies increased an average 52% YoY. [12]
- Meanwhile, US unemployment rate jumped ten percentage points at the start of the pandemic, and is still almost double Q1 rates as of November 2020. [12]
- VAs working solo on platforms reported higher hourly workload increases, taking on an average increase of 17%, while VAs with agencies added 13%. [12]
- 70% of VAs polled reported inbound inquiry increases, while only 8.5% reported decreases. [12]
- The majority of VAs took on additional work during the increased demand periods, with 45% increasing their hourly workload. [12]
- As weâve shown in past reports, the average tech company can save more than 50% on costs by moving IT staffing offshore, with admin and non technical task work offering one of the largest cost savings. [12]
- Our expectation at NanoGlobals is that the BPO industry will retain 10â30% of the increased volume post vaccine, due to normalization of remote work and contract hiring. [12]
- Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2024, region from 2016 to 2024, and global price from 2016 to 2027. [13]
- 47% of organizations will use chatbots for customer care and 40% will deploy virtual assistants. [6]
- More than 50% of enterprises will spend more per annum on bots and chatbot creation than traditional mobile app development. [6]
- 75 90% of queries is projected to be handled by bots by 2024. [6]
- Chatbots can save up to 50% in customer support costs. [6]
- According to Chatbots Magazine, âBusinesses can reduce customer service costs by up to 30% by deploying a conversational chatbotâ. [6]
- According to Forbes, âMore than 50% of all searches will be voice. [6]
- support.47%of users are open to purchasing items through a bot. [6]
- Chatbots Magazine found out 67% of US millennials said they are likely to purchase products and services from brands using a chatbot. [6]
- By 2021, Gartner, Inc. predicts that 25 percent of digital workers will use a virtual employee assistant on a daily basis. [14]
- This will be up from less than 2 percent in 2019. [14]
- Gartner predicts that, by 2024, 25 percent of employee interactions with applications will be via voice, up from under 3 percent in 2019. [14]
- Nearly 40% of internet users worldwide perfer interacting with chatbots than virtual agents, and with major industries including retail and healthcare turning to digital technology, chatbots will likely increase in popularity moving forward. [8]
- 16% of Americans own a voice. [7]
- 36% of young and 52% adults of U.S. smart speaker owners are using their device more to listen to music and entertainment. [7]
- Amazon Alexa â 25%, Microsoft Cortana 19%. [7]
- 65% of surveyed U.S. adults use smart speakers for checking the weather, 5% for ordering or reordering products. [7]
- Adobe Analyticsstudy found the most common voice activities are asking for 66% of consumers surveyed use voice to make a call. [7]
- 55% of survey respondents said they are likely to use voice to ask questions via their smartphones. [7]
- 64% of consumers use voice commands while driving. [7]
- Almost 32% of U.S. consumers said they are interested in using smart speakers for customer service. [7]
- 41.1% of U.S. Millennials, 34% of Gen X, and 17.6% of Baby Boomers use smart speakers. [7]
- 16% of consumers said they would prefer a voice system for help, while 71% on average said the same of human help. [7]
- Among those who expressed any preference for an AI voice assistant, 73% said the pandemic is a factor in the voice assistantâs appeal. [7]
- 52% of people keep their voice activated speakers in their living rooms, 25% keep them in their bedrooms and 22% keep them in their kitchens. [7]
- ( Mobile voicerelated searches are 3X more likely to be localbased than text. [7]
- 65% of people who own an Amazon Echo or Google Home canât imagine going back to the days before they had a smart speaker. [7]
- 41% of people who own a voice activated speaker say it feels like talking to a friend or another person. [7]
- Only 10% of respondents say they have never heard of it. [7]
- By 2024, 25% of employee interactions with applications will be via voice, up from under 3% in 2019. [7]
- According toJuniper Research, by 2024 consumers will interact with voice assistants on over 8.4 billion devices, overtaking the worldâs population and growing 113% compared to the 4.2 billion devices expected to be in use by the end of this year. [7]
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Reference
- comptia – https://connect.comptia.org/blog/artificial-intelligence-statistics-facts.
- alliedmarketresearch – https://www.alliedmarketresearch.com/intelligent-virtual-assistant-market.
- kore – https://blog.kore.ai/top-intelligent-virtual-assistants-statistics-to-follow-in-2020.
- gminsights – https://www.gminsights.com/industry-analysis/intelligent-virtual-assistant-iva-market.
- timedoctor – https://biz30.timedoctor.com/virtual-assistant-stats/.
- mordorintelligence – https://www.mordorintelligence.com/industry-reports/intelligent-virtual-assistant-market.
- revechat – https://www.revechat.com/blog/chatbots-trends-stats/.
- uxdesign – https://uxdesign.cc/some-stats-about-voice-assistants-1c292476584.
- insiderintelligence – https://www.insiderintelligence.com/insights/chatbot-market-stats-trends/.
- getvoip – https://getvoip.com/blog/intelligent-virtual-assistant/.
- wikipedia – https://en.wikipedia.org/wiki/Virtual_assistant.
- botcore – https://botcore.ai/blog/the-future-of-chatbots-2021-statistics/.
- nanoglobals – https://nanoglobals.com/virtual-assistant-industry-growth-statistics/.
- digitaljournal – https://www.digitaljournal.com/pr/intelligent-virtual-assistant-market-demand-2024-2027-industry-share-size-recent-trends-growth-statistics-business-strategies-top-players-like-microsoft-nuance-samsung-electronics-alphabet-et.
- gartner – https://www.gartner.com/en/newsroom/press-releases/2019-01-09-gartner-predicts-25-percent-of-digital-workers-will-u.
How Useful is Intelligent Virtual Assistants
One of the primary benefits of IVAs is their ability to enhance productivity and efficiency. By providing quick and accurate responses to inquiries, IVAs can save users valuable time that would otherwise be spent searching for information on their own. In a fast-paced world where time is of the essence, having a reliable assistant at your fingertips can make a world of difference. This can result in increased effectiveness in completing tasks and achieving goals, ultimately leading to higher satisfaction and success levels.
Furthermore, IVAs offer a heightened level of convenience and accessibility. With the ability to access IVAs through various devices such as smartphones, smart speakers, and computers, users can benefit from instant assistance no matter where they are. From setting reminders to controlling smart home devices, IVAs can simplify everyday tasks and streamline daily routines. This level of convenience is particularly beneficial for individuals with busy schedules or those who find it challenging to keep track of numerous responsibilities.
Another advantage of IVAs is their potential to facilitate better communication and interaction. IVAs are designed to understand natural language processing, which allows users to engage in conversations with them as they would with another person. This fosters a more engaging and personalized user experience, promoting a sense of companionship and ease of interaction. Additionally, IVAs can assist individuals with disabilities by providing them with the necessary support and guidance that may otherwise be difficult to access.
In addition to their practical benefits, IVAs also have the potential to drive innovation and progress in various industries. Businesses can leverage IVAs to automate repetitive tasks, improve customer service, and gather valuable insights from customer interactions. IVAs can also support healthcare professionals by automating administrative tasks, providing patients with medical information, and monitoring their health. The possibilities for using IVAs to revolutionize industries are virtually limitless, with new applications being discovered every day.
Despite the numerous benefits of IVAs, some may argue that they pose potential risks such as privacy concerns and job displacement. As technologies continue to evolve, it is essential for policymakers to address these issues and implement regulations that protect consumers and workers from potential harm. By prioritizing ethical considerations and transparency, we can ensure that IVAs are used responsibly and ethically to benefit society as a whole.
In conclusion, the usefulness of Intelligent Virtual Assistants cannot be underestimated. With their ability to enhance productivity, provide convenience, facilitate communication, and drive innovation, IVAs have the potential to significantly impact how we live and work in the future. As technology continues to advance, it is crucial for us to embrace and adapt to the transformative power of IVAs in order to realize their full potential and benefits.
In Conclusion
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