News

Digital assistants will be $623B market by 2020

July 29, 2016

Apple's Siri, Microsoft's Cortana, Amazon's Alexa and Google's Assistant aren't the only digital assistants contributing to the $7.9 billion global industry. According to a study conducted by William Meisel, president of TMA Associates, the North American market for general and specialized digital assistants and bots is expected to accelerate from $2.5 billion in 2016 to $75 billion in 2020. On the global scale, the industry is anticipated to rise to $623 billion by 2020.

"Digital assistants are increasingly becoming the new way companies and applications will interact with users, as the market estimates show," Meisel said in a release. "Every company must understand the options available to participate in this trend. The bulk of the report discusses 170 companies that can help them do so, with a guide to make efficient use of this information."