Sellbyville, DE -- (SBWIRE) -- 11/28/2018 -- Global Health Intelligent Virtual Assistant Market was over USD 180 million in 2016, with expectations to witness more than 31% CAGR from 2017 to 2024. Rising smartphone users worldwide coupled with increasing use of health apps and growing popularity of internet of things is set to drive health intelligent virtual assistant market growth. Mobile healthcare technology has gained immense popularity among populations all over the globe. The increased adoption of heath apps demonstrates the shift in trend in patient care; wherein service over mobile devices is being preferred over visiting the physicians.

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Speech recognition grabbed over 60% of health intelligent virtual assistant market share in 2015, with expectations to witness more than 32% CAGR over the forecast years. Speech recognition technology is becoming increasing popular due to rising penetration of smartphones. Enhanced speech recognition application in EHR allows physicians to be more productive and efficient.

Growing need to reduce healthcare costs and improve quality of care will fuel health intelligent virtual assistant market growth. Promising improvements in healthcare infrastructure, patient experience will restructure the healthcare delivery over the coming years. To reduce the medical errors and improve the quality of healthcare has been the first preference of Agency for Healthcare Research and Quality (AHRQ).

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

- Welltok, Inc.
- True Image Interactive
- Kognito
- CodeBaby is now iDAvatars (IDA)
- MedRespond
- CSS International Corporation
- Microsoft
- Nuance Communications
- eGain Corporation
- Next IT

Payers should will manifest a robust growth to surpass USD 600 million by 2024. Payers are modernizing the infrastructure, protecting and securing the patients data and improving the interoperability. Payers strive to deliver quality, efficiency, and patient satisfaction in service by using intelligent virtual assistant. Providers held the largest industry revenue share with its value slated to reach USD 820 million by 2024. The use of intelligent virtual assistant devices in the hospitals is driven by improved physician efficiency and patient care.

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U.S. health intelligent virtual assistant market accounted for the largest regional industry share in 2016. Wide spread adoption of healthcare IT, technologies for effective healthcare system and increasing smartphone users in the U.S. will stimulate industry growth. UK held considerable regional health intelligent virtual assistant market share in 2016 owing to adoption of advanced healthcare technologies. Rising penetration of the internet of things coupled with increasing regulation act related to communication and data should drive business growth in coming years.

Health Intelligent Virtual Assistant Market by Technology
- Speech recognition
- Text-to-Speech
- Voice recognition
Health Intelligent Virtual Assistant Market by End User
- Payer
- Provider