Global Voice Assistant Application Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Region, Drivers & 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.

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Voice assistants supplied with particular data can only assist consumers when asked questions that they are designed to answer. As a result, if a customer asks a question about which the voice assistant has no knowledge, the voice assistant will fail to grasp the customer's purpose and will be unable to answer the inquiry. People prefer their regional languages above English for day-to-day communications in nations with several regional languages, such as Indonesia and India. Advances in voice recognition have permitted a greater grasp of vernacular Indian languages in India.

Voice Assistance Application assists customers with a number of tasks in their homes, vehicles, educational institutions, healthcare services, and communications environments by utilizing speech recognition technologies, voice commands, and computational linguistics. The expanding use of the Internet of Things, including connected gadgets, has increased market demand for voice assistant software. Artificial intelligence, language processing, robotic assistance, and pattern recognition have all evolved as a result of technical advancements, cheaper technology costs, and the ability to improve existing business processes.

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.

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.

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Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors.

• Provision of market value (USD Billion) data for each segment and sub-segment.
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market.
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region.
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions.
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis.
• Provides insight into the market through Value Chain.
• Market dynamics scenario, along with growth opportunities of the market in the years to come.
• 6-month post-sales analyst support.

Key Points: 

• Define, describe and forecast voice assistant application market by type, application, end user and region.
• Provide strategies for company to deal with the impact of COVID-19.
• Provide enterprise external environment analysis and PEST analysis.
• Provide market dynamic analysis, including market driving factors, market development constraints.
• Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
• Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy.
• Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
• Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
• Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.

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