According to a new report, published by KBV research, The Global Virtual Humans Market size is expected to reach $735.50 billion by 2031, rising at a market growth of 43.4% CAGR during the forecast period.
The Avatars segment is leading the Global Virtual Humans Market by Type in 2023; thereby, achieving a market value of $532.21 billion by 2031. Avatars, often used in virtual gaming, social media, customer service, and entertainment applications, are digital representations of humans that allow users to interact in virtual environments. Their high demand is attributed to their widespread use in various consumer and business applications and advancements in graphics and animation technologies that enhance their realism and engagement. The versatility of avatars in gaming, virtual meetings, and digital interaction has contributed to their dominant position in the market.
The BFSI segment captures a CAGR of 42.9% during (2024 - 2031). Virtual humans in BFSI are primarily used for customer service, financial advisory roles, and virtual assistants, helping businesses streamline operations and offer 24/7 support. Their ability to simulate real human interaction and provide personalized experiences has contributed to their growing adoption. As more financial institutions look to integrate AI-driven solutions to enhance customer experience and improve operational efficiency, the demand for virtual humans in the BFSI sector is expected to continue rising.
Full Report: https://www.kbvresearch.com/virtual-humans-market/
The North America region dominated the Global Virtual Humans Market by Region in 2023; thereby, achieving a market value of $278.27 billion by 2031. The Europe region is expected to witness a CAGR of 42.9% during (2024 - 2031). Additionally, The Asia Pacific region would register a CAGR of 44.5% during (2024 - 2031).
By Type
By Industry Vertical