Why it’s hot:
Intelligent Personal Assistant: This is software that can assist people with basic tasks, usually using natural language. Intelligent personal assistants can go online and search for an answer to a user’s question. Either text or voice can trigger an action.
Smart Assistant: This term usually refers to the types of physical items that can provide various services by using smart speakers that listen for a wake word to become active and perform certain tasks. Amazon’s Echo, Google’s Home, and Apple’s HomePod are types of smart assistants.
Virtual Digital Assistants: These are automated software applications or platforms that assist the user by understanding natural language in either written or spoken form.
Voice Assistant: The key here is voice. A voice assistant is a digital assistant that uses voice recognition, speech synthesis, and natural language processing (NLP) to provide a service through a particular application.
Tractica is a market intelligence firm that focuses on human interaction with technology. Their reports say unique consumer users for virtual digital assistants will grow from more than 390 million worldwide users in 2015 to 1.8 billion by the end of 2021. The growth in the business world is expected to increase from 155 million users in 2015 to 843 million by 2021. With that kind of projected growth, revenue is forecasted to grow from $1.6 billion in 2015 to $15.8 billion in 2021.