Market Overview:
The AI Avatars market refers to intelligent avatars that can interact naturally with people using speech, emotions, and body language. Powered by AI, ML, and analytics, digital humans are projected to transform business communications, marketing campaigns, and customer support services globally.
The digital human industry size was appraised at $5.59 billion in 2023. It is slated to register a tremendous 31.9% CAGR from 2023 to 2032 due to the surging deployment of virtual assistants, chatbots, and digital influencers across sectors.
Leading Companies Offering Digital Human Solutions
Some prominent companies providing cutting-edge digital human technology include:
- Soul Machines: Digital DNA platform to create authentic digital humans with emotional intelligence
- Microsoft: Azure AI solutions to build, deploy, and manage digital twins and avatars
- UneeQ: Lifelike digital humans for engaging customer service, sales, and marketing
- Quantum Animation: Digital influencers with customizable appearances, voices and personalities
- NVIDIA: Omniverse platform, AI models, simulation tools and computing power for metaverse development
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Key Segments:
Based on application, digital humans are primarily adopted for client support, sales & marketing, gaming, AR/VR, AI assistants, training programs and more. The customer service segment will exhibit fast-paced evolution during 2023-2031 owing to enhanced query resolution rates delivered by human-like bots.
In terms of end-use verticals, media, retail, automotive, healthcare, education, and financial sectors are prominently deploying AI avatar technology due to its ability to drive higher audience engagement. The retail category is estimated to progress at a high annual rate through 2031, fueled by the rising utilization of virtual models and influencers.
Top Growth Boosters:
The global expansion of 5G networks allowing complex ML model deployment with minimal latency paired with increasing touchless economy demands following the pandemic are acting as pivotal stimuli for the digital human industry outlook.
Furthermore, the surging incorporation of conversational virtual assistants by brands like Samsung, Nespresso, and Disney to deliver personalized customer experiences will spur segmental development over the next few years.
However, digital human adoption can be constrained by risks related to misinformation spread, uncanny valley effect, and unethical data usage to a certain extent.
Recent Developments:
As part of the latest updates, Soul Machines announced the launch of a photorealistic digital nurse named Nikki in November 2022. Nikki demonstrates empathy, compassion and responsiveness to offer healthcare advice for better patient engagement.
Likewise, Australia Post unveiled a 3D avatar named Ashley in October 2022 to improve delivery tracking and streamline customer communication across digital channels. Such product launches will undoubtedly widen future scope across retail, healthcare, finance, and other domains globally.
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