Digital Human Avatar Market 2022 Production, Revenue, Growth Rate, Price and Gross Margin, Opportunities and Forecast 2030

Digital Human Avatar Market

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.

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Increasing number of contact centers is another factor driving demand for digital human avatars or virtual idols as employing customer care executives for handling of customer queries via chats and live replies is costly and a time-consuming process. This, along with managing scenarios in which customers might not receive any response to their queries, due to unknown reasons, are driving deployment of digital avatars.

Competitive Terrain:

The Global Digital Human Avatar Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.

Some major companies in the global market report include UneeQ, Microsoft Corporation, Didimo Inc., Wolf3D, HOUR ONE AI, Spatial Systems, Inc., CARV3D, DeepBrain AI, Soul Machines, and Synthesia Ltd.

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Key Findings 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.

Regional Overview:

The global Digital Human Avatar market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Digital Human Avatar market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.

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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

ToC of the report:

Chapter 1: Market overview and scope

Chapter 2: Market outlook

Chapter 3: Impact analysis of COVID-19 pandemic

Chapter 4: Competitive Landscape

Chapter 5: Drivers, Constraints, Opportunities, Limitations

Chapter 6: Key manufacturers of the industry

Chapter 7: Regional analysis

Chapter 8: Market segmentation based on type & applications

Chapter 9: Current and Future Trends

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