digital human avatar market size is expected to reach USD 527.58 Billion in 2030 and register a revenue CAGR of 46.4% over the forecast period, according to latest analysis by Emergen Research. Robust global digital human avatar market revenue growth can be attributed to increasing efforts by customer-centric firms to provide emotionally engaging experience to customers.
Integration of conversational intelligence of virtual human avatar enables possibility of a scalable interaction between a human being and the avatar, thus allowing directed approach to understand a customer’s needs. Digital human avatars are capable of conversing with customers through text or speech to offer product recommendations. Also, these avatars can help visitors to navigate across a product catalog and proactively mimic a sales person by initiating a conversation in any languages, and subsequently understand consumer preferences via their replies on basis of prebuilt algorithm, in order to provide suitable responses to a customers’ queries.
The latest market intelligence report provides business owners, stakeholders and field marketing executives’ critical insights about the opportunities as well as strengths to help keep up with the dramatic shift in the consumer behavior and consumption power. The study methodologies used to examine the Digital Human Avatar market for the forecast period. further classifies the industry by type, geography, end-use and end-user to add more precision and bring to light factors responsible for augmenting business development.
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The report also studies the key companies of the Digital Human Avatar market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities. Some players analyzed in the report are:
Key Players Profiled in the Report are:
UneeQ, Microsoft Corporation, Didimo Inc., Wolf3D, HOUR ONE AI, Spatial Systems, Inc., CARV3D, DeepBrain AI, Soul Machines, and Synthesia Ltd.
The study is a professional probe into the revenue generated and capacity estimates for the Digital Human Avatar market for the forecast period 2021 – 2030 empower the business owners to maintain a competitive edge over their rivals. The research further examines and provides data on the market by type, application and geography interspersed with illustrations and other graphical representations. The market analysis not only determines the attractiveness of the industry but also the evolving challenges and opportunities and their association with the weaknesses and strengths of prominent market leaders. Other factors taken into consideration when studying the industry include profitability, manufacturing capability, distribution channels and industry cost structure and major success factors.
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Emergen Research has segmented the global digital human avatar market on the basis of product type, industry verticals, and region:
Product Type Outlook (Revenue, USD Billion; 2018–2030)
Interactive Digital Human Avatar
Non-Interactive Digital Human Avatar
Industry Verticals Outlook (Revenue, USD Billion; 2018–2030)
BFSI
Education
Retail
Healthcare
Automotive
IT & Telecommunications
Gaming & Entertainment
Others
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Comprehensive Regional Analysis Covers the Following Regions:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The study dives deep into the profiles of top market players and their key financials. This comprehensive report is not only for business analysts and any existing and new entrant can use it when designing their business strategies. The research is one of its kind global analyses of aspects such as import and export status, supply chain management, profit and gross margin worldwide for the forecast period. Extensive coverage of statistics associated with recent events including acquisition and mergers and strengths and weaknesses of a company forms an important part of the study on the Digital Human Avatar market.
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Key Highlights from the Report
Among the product type segments, the interactive digital human avatar segment is expected to register faster revenue CAGR over forecast period. Live human agents, who follow a standard set of queries, are more likely to struggle at forming an interactive environment in terms of personalized approach in comparison to virtual agents, who understand and learn customer behavior in real-time and based on customer inputs, rapidly adapt to create a completely personalized approach to each customer.
Also, other than interacting with customers through tailored queries and replies, digital human avatars can create a personalized consumer specific algorithm for learning the patterns of their selections and choices. Moreover, businesses can deploy these avatars for online training and learning of their staffs.
Among the industry vertical segments, IT & telecommunications segment revenue is expected to register a rapid growth rate over the forecast period. Rising demand for better connectivity services and emergence of 5G technology are key for growth of companies in the telecom sector.
However, contact centers are facing immense pressure and are struggling to scale as required. Also, automated technologies such as chatbots that are scalable are unable to replicate crucial human touch in providing customer experience. Thus, customers are experiencing digital fatigue to the point where about 82% of them rather want to talk to a person. Digital human avatars deliver a more human-like experience to customers, enabling telecom firms to scale the human touch, as well as allow human staff to focus on other important tasks.
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About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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