Virtual nursing assistants market is estimated to grow with a high CAGR during the forecast period, i.e.,2020-2029. Extensive research associated with virtual nursing assistants in western countries, along with the growing internet connectivity and smartphone devices, increasing Use of healthcare applications, rising prevalence of chronic disorders, growing demand for quality healthcare delivery are expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as growing adoption of internet of things and rising integration of artificial intelligence in healthcare.
The market is segmented based on product into chatbots and smart speakers, out of which, the chatbots segment is predicted to hold the largest virtual nursing assistant market share owing to an increased demand of virtual assistants in the healthcare sector as they can assist nurses, patients and physicians at different levels through speech or text. CLICK TO DOWNLOAD SAMPLE REPORT
However, the smart speaker segment is poised to grow at a faster rate during the forecast period due to advancements like automatic speech recognition garnering demand in recent times. The smart speaker segment is expected to witness the highest growth during the forecast period. The growth in this segment can be attributed to the increasing consumer preference for technologically advanced products. Moreover, smart speakers are multifunctional, fast, varied, and reliable solutions, this not only saves time but also offers increased comfort and greater convenience and contribute to the growth of the segment during the forecast period.
Based on user interface, the automatic speech recognition segment is expected to grow at the highest CAGR during the forecast period owing to certain factors such as less paperwork, reduced time consumption, and improved workflow.
Based on end user the providers segment is expected to grow at a significant CAGR during the forecast period. The growth of this segment is owing to the increasing adoption of artificial intelligence by the healthcare professionals to improve the clinical workflow and work efficiency in less time.
North America commanded the highest share in the global healthcare Virtual assistant market, followed by Europe and Asia Pacific. The highest share of North American region in the virtual assistant market is primarily attributed to the growing healthcare sector, increasing need to reduce healthcare cost, rising demand of the technological advancements by the healthcare facilities, and growing demand of the healthcare industry to maintain a balance between the patient engagement and clinical workflow.
Asia Pacific is expected to be the fastest growing region with countries such as India and China being the largest contributors to the growth of the market due to the factors such as cheap labor, low production cost, and increasing awareness of virtual assistant solution among the consumers. Additionally, growing R&D investments and rising healthcare infrastructure are expected to equally influence the overall growth of the virtual nursing assistant market during the forecast period.
The virtual nursing assistant market is further classified on the basis of region as follows:
Our in-depth analysis of virtual nursing assistants market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Growing internet connectivity and smartphone devices, increasing use of healthcare applications, rising prevalence of chronic disorders, growing demand for quality healthcare delivery, growing adoption of internet of things, rising integration of artificial intelligence in healthcare are the factors driving the growth of virtual nursing market.
The market is anticipated to attain a high CAGR over the forecast period, i.e., 2021-2029.
Lack of awareness among healthcare professionals, data privacy and security concerns are estimated to hamper market growth.
The market in North America region will provide ample growth opportunities owing to the increasing need to reduce healthcare cost, rising demand of the technological advancements by the healthcare facilities, and growing demand of the healthcare industry to maintain a balance between the patient engagement and clinical workflow.
The major players dominating the virtual nursing assistants market is Microsoft corporation, CSS corp, Sensely, inc., Verint systems inc., eGain corporation, Kognito solutions, LLC among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product, user interface, end user and region.
The chatbots segment is predicted to hold the largest virtual nursing assistant market share owing to an increased demand of virtual assistants in the healthcare sector as they can assist nurses, patients and physicians at different levels through speech or text.
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