3 September 2019: Health intelligent virtual assistant is a software unit that interfaces with users in a human way. The main objective of this software is to respond to the queries that customers have. It eliminates searching the website for enquiries and also reduces waiting period for a client in the queue.
Text to Speech Technology segment estimated to account for the largest share in 2017
The major technology variants in the health intelligent virtual assistant market include text-based, text to speech, and automatic speech recognition (ASR). The automatic speech recognition (ASR) is estimated to show the most promising CAGR in the forthcoming period.
In addition, it is mainly used to find alphabets or words and also to authorize a person’s identity. High acceptance of smart chatbots and speakers for medical counseling by numerous therapists for the patient appointment is participating in developing the market for health intelligent virtual assistant.
Automatic Speech Recognition (ASR) is followed by text to the speech technology sector. It allows computers to translate human speech or convert voice or audio and transcribe it to written text for the fast interpreting of the content.
Technological advancements in the field of conversation interface, neuro-linguistic programming, AI, and machine learning procedures and automation have made virtual assistants a beneficial tool.
These technologies are assessable in the form of virtual assistants by top firms, such as Google, Apple, and Amazon. Products presented by these companies work as mediators between enterprise services and their customers.
Market Insights:
Key companies are introducing products that allow equipment or app to act as artificial intelligence (AI) agent. The virtual assistance offers humanistic approach to customers and are widely used in pharmacies, hospitals, and other associated areas to handle more customers while delivering improved user experience.
The manufacturers are mainly focusing on technology, innovation of products, and mergers and acquisitions in order to support their presence throughout the world. For example, in September 2018, Nuance Communications, Inc. and Epic Systems Corporation partnered on a technology called voice assistance.
Additionally, numerous companies are launching new technology and applications to act as an artificially intelligent agent to improve and uplift the user experience and bridge the gap between patients and clinicians through improved communication services.
Key companies operating in the health intelligent virtual assistant market include Code Baby Corporation; Nuance Communications, Inc.; eGain Corporation; Microsoft Corporation; Kognito; Med Respond; Next IT Corporation; CSS Corporation; Welltok, Inc; and True Image Interactive, Inc.
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