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

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

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.

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