The Global Digital Human Avatar Market report offers a comprehensive analysis of the Digital Human Avatar market with regards to the current and emerging trends, regional outlook, competitive landscape, and forecast estimation for revenue and market share. The report is an all-inclusive document providing important details focusing on growth statistics, estimation of revenue shares and growth, market valuation, and also emphasizes the competitive landscape, business opportunities, and strategic alliances and approaches undertaken by the dominant industry players.
The global 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.
Market Dynamics:
The report offers insightful information about the market dynamics of the Digital Human Avatar market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Digital Human Avatar market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Digital Human Avatar market.
Key Companies Profiled in the Report:
UneeQ, Microsoft Corporation, Didimo Inc., Wolf3D, HOUR ONE AI, Spatial Systems, Inc., CARV3D, DeepBrain AI, Soul Machines and Synthesia Ltd
Competitive Landscape:
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
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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.
- Digital human avatar market in Asia Pacific is expected to register fastest revenue growth rate over forecast period, due to rising demand for digital human avatars in end-use industries, including retail, media & entertainments, banking, healthcare, and education in countries such as China, South Korea, Australia, and Japan. Amon
Digital Human Avatar Market Segmentation:
- 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
- Regional Outlook (Revenue, USD Billion; 2018–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
- North America
Regional Segmentation;
North America (U.S., Canada)
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)
Radical Highlights of the Digital Human Avatar Market Report:
- Comprehensive overview of the Digital Human Avatar market along with analysis of the changing dynamics of the market
- Growth Assessment of various market segments throughout the forecast period
- Regional and global analysis of the market players, including their market share and global position
- Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
- Impact of the technological developments and R&D advancements on the Digital Human Avatar market
- Information about profit-making strategies and developmental strategies of major companies and manufacturers
- Insightful information for the new entrants willing to enter the market
- Details and insights about business expansion strategies, product launches, and other collaborations
- The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
To know more about the report, visit @ https://www.emergenresearch.com/industry-report/digital-human-avatar-market
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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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