Global Voice Assistant Application Market Size, By Organization & Deployment, & Future Development & Forecast 2023-2032

 

Global Voice Assistant Application Market

The Global Voice Assistant Application Market size was valued at USD 2.56 billion in 2022, and is projected to reach USD 12.57 billion by 2032 at a CAGR of 28.5% from 2022 to 2032.

A voice assistant application is a type of software application that uses voice recognition technology to understand and interpret human speech. Voice assistant applications can perform a wide range of tasks, such as searching the internet, making phone calls, sending messages, controlling smart home devices, and providing personal assistant services, among others.

Increased Adoption of Smart Speakers: Smart speakers, such as Amazon Echo and Google Home, have become increasingly popular in recent years, leading to a rise in the adoption of voice assistant applications. According to a report by Strategy Analytics, global smart speaker shipments reached 147 million units in 2020, a 70% increase from the previous year. Integration with IoT Devices: Voice assistant applications are increasingly being integrated with a wide range of IoT devices, such as smart thermostats, lights, and security cameras, among others. This integration allows users to control their smart home devices using voice commands, making their lives more convenient. Growing Use in the Automotive Industry: Voice assistant applications are being increasingly integrated into cars, allowing drivers to perform tasks, such as making phone calls and sending messages, without taking their eyes off the road. Advancements in Natural Language Processing (NLP) Technology: The development of NLP technology has enabled voice assistant applications to better understand and interpret human speech, leading to improved accuracy and user experience. As a result, voice assistant applications are becoming more widely adopted in a range of industries, such as healthcare and finance, among others.

Impact of COVID-19 on the global Voice Assistant Application Market:

The COVID-19 pandemic has had a significant impact on the voice assistant application market. With people spending more time at home due to lockdowns and social distancing measures, the demand for smart speakers and voice-enabled devices has increased. Many people have turned to voice assistants as a way to control their smart home devices, access entertainment, and even shop online without leaving their homes. According to a report by Strategy Analytics, the global smart speaker market grew by 21% in Q2 2020, despite the pandemic's impact on the economy. The report also stated that Amazon and Google continued to dominate the market, with a combined market share of 65.6%. The pandemic has also accelerated the adoption of voice assistants in healthcare. With the need for contactless interactions and remote patient monitoring, voice assistants have become a valuable tool for healthcare professionals. They can help patients with their medication reminders, provide information about their health conditions, and even schedule appointments.

However, the pandemic has also led to supply chain disruptions and manufacturing delays, which have impacted the production and distribution of smart speakers and other voice-enabled devices. The closure of retail stores and the shift towards online shopping has also affected the sales of these devices. Despite these challenges, the voice assistant application market has shown resilience and is expected to continue to grow in the post-pandemic era.

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Market Segmentation:

By Application Type

·         Web Application

·         Mobile Application

·         Device Application

By Deployment Mode

·         On-premises

·         Cloud

By Organization Size

·         Small and Medium-Sized Enterprises (SMEs)

·         Large Enterprises

 

 Key Player:

·         Amazon

·         Google

·         Apple

·         Microsoft

·         Samsung

·         Baidu

·         Tencent

·         Alibaba

·         Xiaomi

·         Nuance Communications

·         SoundHound

·         Houndify

·         IBM Watson

·         Salesforce

·         Cisco Systems

Regional Analysis:

The countries covered in the regional analysis of the Global Voice Assistant Application market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

 Key Points: 

• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
• Porter’s Five Force Model and SWOT analysis are used to study the global Voice Assistant Application market and would help stakeholders make strategic decisions.
• The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
• In-depth analysis of the types of Voice Assistant Application would help in identifying future applications in this market.

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