Virtual Shopping Assistant Market Anticipated to grow 29.6% CAGR & $6879.48 million by 2032

Virtual Shopping Assistant Market Size Worth $6,879.48 Million By 2032 | CAGR: 29.6%


The global virtual shopping assistant market size is expected to reach USD 6,879.48 million by 2032, according to a new study by Polaris Market Research. The report “Virtual Shopping Assistant Market Share, Size, Trends, Industry Analysis Report, By Channel (Mobile Apps, Websites, Chatbots, Messenger, Voice Assistant, Others); By Platform; By Technology; By End-Use Industry; By Region; Segment Forecast, 2023- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Virtual shopping assistants powered by AI offer tailored guidance to shoppers on products and services. They interact via chat, voice, and avatar interfaces on platforms, including websites, mobile apps, messaging services, and IoT devices. These assistants aid in product selection, give personalized recommendations, address queries, facilitate payments, and provide post-purchase support.

Their benefits include round-the-clock availability, capacity to manage large volumes of inquiries, and provision of personalized shopping experiences. The surge in conversational commerce propels the market's expansion, heightened desire for personalized shopping experiences, and increased adoption of AI and NLP technologies.

Consumers increasingly favor self-service options for swift issue resolution and immediate assistance. Virtual shopping assistants empower shoppers to independently navigate product searches, compare choices, complete transactions, and access support without the need for live agent intervention. Younger demographics, particularly millennials and Gen Z, exhibit a greater comfort level with transactions conducted through conversational interfaces. The 24/7 availability and capacity to offer highly personalized recommendations are solidifying the popularity of virtual shopping assistants for self-service shopping.

Do you have any questions? Would you like to request a sample or make an inquiry before purchasing this report? Simply click the link below: https://www.polarismarketresearch.com/industry-analysis/virtual-shopping-assistant-market/request-for-sample

Omnichannel customer engagement is becoming paramount for retailers, aiming to interact with consumers seamlessly across various touchpoints such as websites, apps, smart speakers, and messaging platforms. Virtual shopping assistants facilitate the delivery of cohesive shopping experiences across these digital channels. Companies leverage these AI-driven assistants to furnish tailored suggestions and consistent customer support, drawing on user data and profiles. The presence of multiple channels and smooth transitions between them are propelling the widespread adoption of virtual shopping assistants.

Virtual Shopping Assistant Market Report Highlights

  • The chatbot segment is expected to grow at the highest CAGR during the projected period on account of increasing customer satisfaction and higher conversion rates
  • The smartphones segment accounted for the largest market share in 2022, which is mainly driven by the ease of accessibility and flexibility
  • The machine learning segment held a significant market revenue share in 2022, mainly due to enhanced user satisfaction and technological innovation
  • The retail & e-commerce segment accounted for the largest market share in 2022 due to a surge in online shopping activities
  • Asia Pacific region dominated the market with a majority share in 2022, owing to exponential growth in the technology and tech-savvy consumers
  • The global key market players include Facebook, Inc. (Meta), Google LLC (Google Assistant), IBM Corporation (Watson Assistant), Microsoft Corporation (Cortana), and Nuance Communications, Inc.

Polaris Market Research has segmented the virtual shopping assistant market report based on channel, platform, technology, end-use industry, and region:

Virtual Shopping Assistant, Channel Outlook (Revenue - USD Million, 2019 - 2032)

  • Mobile Apps
  • Websites
  • Chatbot
  • Messenger
  • Voice Assistant
  • Others

Virtual Shopping Assistant, Platform Outlook (Revenue - USD Million, 2019 - 2032)

  • Smartphones
  • Smart TVs
  • Speakers
  • Kiosk
  • Others

Virtual Shopping Assistant, Technology Outlook (Revenue - USD Million, 2019 - 2032)

  • Machine Learning
  • Computer Vision
  • Predictive Analytics
  • NLP
  • Others

Virtual Shopping Assistant, End-Use Industry Outlook (Revenue - USD Million, 2019 - 2032)

  • Retail & E-commerce
  • Travel & Hospitality
  • BFSI
  • Media & Entertainment
  • Automotive
  • Others

Virtual Shopping Assistant, Regional Outlook (Revenue - USD Million, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Virtual Shopping Assistant Market Report Scope

Report Attributes

Details

Market size value in 2023

USD 666.99 million

Revenue forecast in 2032

USD 6,879.48 million

CAGR

29.6% from 2023 – 2032

Base year

2022

Historical data

2019 – 2021

Forecast period

2023 – 2032

Quantitative units

Revenue in USD million and CAGR from 2023 to 2032

Segments covered

By Channel, By Platform , By Technology, By End-Use Industry, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization

Report customization as per your requirements with respect to countries, region and segmentation.

For Specific Research Requirements

Request for Customized Report

License and Pricing

Purchase Report Sections

  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
Request for Discount Pricing