New York, NY, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Digital Avatar Market Share, Size, Trends, Industry Analysis Report, By Product (Interactive Digital Avatar, Non-interactive Digital Avatar), By Category, By Industry Vertical, By Region, And Segment Forecasts, 2023 - 2032” in its research database.
“As per the latest research analysis, the global digital avatar market size/share will be valued at roughly USD 12.89 Billion in 2022, and its revenue is projected to reach about USD 506.46 Billion By 2032. The market is forecasted to expand at a compound annual growth rate of approximately 44.4% between 2023 and 2032.”
Digital Avatar Market: Report Overview
A Digital Avatar is an AI-powered human-like virtual associate that allows savvy interactions with clients. In its most basic form, a digital avatar can be a two-dimensional image, profile picture, or icon describing a user on social media platforms or other similar sorts of applications. Also, nowadays, digital avatars are not only about fun. They are extensions of ourselves that help improve our experiences and reshape the way we socialize, work, connect, and learn with each other.
The digital avatar market demand is boosting as they become increasingly popular in the virtual world. Their widespread use is important because they project a feeling of seriousness. These visitors will become devoted clients if a digital human who effectively communicates the company's values is used.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 110+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Leaders Are:
- AI Foundation
- DeepBrain AI
- Didimo
- Epic Games
- Microsoft Corporation
- NEON
- NVIDIA Corporation
- Pinscreen
- Soul Machines
- Spatial Systems
- UneeQ
- Wolf3D
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Digital Avatar Market: Report Scope
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 506.46 Billion |
| Market size value in 2023 | USD 18.59 Billion |
| Expected CAGR Growth | 44.4% from 2023 – 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | Epic Games, Pinscreen, Soul Machines, NEON, AI Foundation, Microsoft Corporation, NVIDIA Corporation, UneeQ, Didimo, Spatial Systems, DeepBrain AI, and Wolf3D |
| Segments Covered | By Product, By Category, By Industry Vertical, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Prominent Growth Driving Factors
- Customized digital avatars: Users now have access to a wide variety of customizable avatars due to the inclusion of the AI Magic Avatar function, enabling self-expression on various digital platforms. These digital characters and messages have become essential to users' online interactions and experiences.
- Increased use of AI and AR technologies: AI and AR-powered avatars are used more often in customer-facing settings like sales and retail offices. Due to their capability to engage and personalize with customers, businesses can increase sales and customer happiness. The digital avatar market size is expected to expand as technology develops, with AI and AR playing important roles in expanding the capabilities and applications of digital avatars across numerous sectors.
Top Findings of the Report
- The market has significantly improved due to the introduction of advanced technologies like virtual reality (VR) and augmented reality (AR). By developing extremely lifelike and interactive virtual avatars, the scenario has allowed marketers to provide more individualized experiences.
- The digital avatar market segmentation is primarily based on category, product, region, and industry.
- North America dominated the market in 2022 with a sustainable share.
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Top Trends Influencing the Market
- The rising demand for authentic and personalized avatars: The industry is expanding due to the rising need for genuine and customized digital avatars for online interactions. Businesses from various industries understand the value of utilizing digital avatars to entertain and educate customers. The market offers a variety of customization options, allowing businesses to create digital avatars that match respective characters and styles.
- Technological advancements: Technical developments would substantially impact overall digital avatar market growth. Technology that utilizes augmented reality (AR) delivers a more interesting and immersive digital avatar experience.
Segmental Analysis
- Interactive Sector Holds the Significant Share
The interactive industry held a large market share. Because they provide more immersive and engaging experiences, digital avatars are frequently used in various industries, including entertainment, customer service, education, and healthcare.
Additionally, using digital avatars in animated movies and video games has become more popular since it allows consumers to have unique experiences. Due to its promise to deliver a realistic, human-like experience, it offers promising opportunities. This capability to produce lifelike interactions and engagements will significantly fuel digital avatar market expansion. As a result, companies from various industries understand the importance of utilizing digital avatars to improve their goods and offer clients wholly distinctive and customized experiences.
- Virtual Influencers Sector Holds Substantial Share
With more creative freedom and the ability to engage clients more specifically, virtual influencers let marketers create captivating, unbelievable content to do with real-life influencers. Virtual influencers also often work with fashion brands to provide new, actual experiences that attract younger audiences. The possibility of virtual influencers increasing engagement and broadening social media reach is expected to fuel this segment's continuous expansion throughout the forecast period.
Furthermore, the virtual agents sector is also anticipated to expand at the quickest rate. These assistants are conversational software products that help businesses use artificial intelligence (AI) to quickly react to client inquiries, cutting down on response time. Several businesses use virtual agents on their websites to offer round-the-clock assistance and support to increase total customer happiness.
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Geographical Overview
North America: In 2022, the North American region had a sizable portion of the global market. Customers in the region have demonstrated a significant preference for augmented reality (AR) and virtual reality (VR), which let them interact with digital worlds in a more lifelike and engaging way. Users demand personalized digital avatars that authentically reflect their interests and personalities, and this preference for personalization is a major driver driving the digital avatar market in North America.
Asia Pacific: With a solid CAGR during the anticipated period, the Asia Pacific area is set to grow fastest. This expansion is attributable to the region's rising smartphone and internet usage rates. Also, the region's adoption of digital avatars has been accelerated by technological developments that allow marketers to produce and provide virtual avatars at reasonable prices.
Browse the Detail Report “Digital Avatar Market Share, Size, Trends, Industry Analysis Report, By Product (Interactive Digital Avatar, Non-interactive Digital Avatar), By Category, By Industry Vertical, By Region, And Segment Forecasts, 2023 - 2032” with in-depth TOC: https://polarismarketresearch.com/industry-analysis/digital-avatar-market
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Recent Developments
- The sophisticated MetaHuman Animator toolkit was unveiled by Epic Games, a well-known software and video game developer, in March 2023. It was created for their MetaHuman framework. This ground-breaking solution promises to meet the demands of Hollywood filmmakers and AAA game developers by providing superior performance and facial animation capabilities.
The Report Answers Questions Such As
- What is the estimated industry size of digital avatars?
- Which factors are propelling the market growth?
- What are the upcoming trends in the market?
- Which segment is holding the greatest digital avatar market share?
- Who are the digital avatar market key players operating in the industry?
- Which is the largest regional market for digital avatars?
- What is the competitive position of digital avatars in the market?
Polaris Market Research has segmented the digital avatar market report based on product, category, industry vertical, and region:
By Product Outlook
- Interactive Digital avatar
- Non-Interactive Digital avatar
By Category Outlook
- Virtual Agents & Assistants
- Virtual Influencers
- Others
By Industry Outlook
- BFSI
- Retail & E-commerce
- Healthcare
- Gaming & Entertainment
- Education & Training
- Automotive
- IT & Telecom
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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