Voice Assistant Market Share, Analysis, Trend, Size, Growth and Forecast to 2030
Market Overview:
Theglobal voice assistant market sizeisexpectedtoreachUSD30.74Billionduring theforecastperiodbyregisteringaCAGRof31.2%.Avoiceassistantisadigital assistantthatusesartificialintelligence,machinelearning,andvoicerecognition technologytoassist.Itcaninterpretandrespondtohumanvoiceinstructions,assisting withcommonchoressuchasbookinganappointment,placinganonlineorderfor tangiblethings,andmessagingwhilehands-free.Themarketisexpectedtoincrease becauseoftherisingpopularityofconnecteddevices,increasingacceptanceofsmart homes,increasinginstancesofvoicesearch,andhighdemandforself-service applications.
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SpeechtechnologywaspreparedtoexpandthemarketbeforetheCOVID-19pandemic, withaconsistentgrowthrateofvoice-enabledgadgetssoldperpopulation.Consumers arestayingathomemoreandseekingnewwaystokeepthemselvesentertained,while front-linehealthcareworkerscontinuetoseekprotectionandnewwaystowork.For example,Chinadevelopedaspeechrobotthatcancollectandverifypersonal informationsuchasidentity,healthstatus,andlocationinfiveminutesvstwotothree hoursmanually.
Regional Classification
WithitscurrentinfrastructureandsignificantcompetitorssuchasIBMCorporation, GoogleLLC,Amazon,andSamsungElectronics,NorthAmericaisprojectedtoleadthe voiceassistantmarket.ThevoiceassistantmarketinNorthAmericaisdividedinto threeparts:theUnitedStates,Canada,andMexico.Furthermore,significant advancementsinsmarthomeandsmartspeakertechnologyintheUnitedStatesare drivingthemarket’sexpansion.
Duetothegrowingdemandforsmartcontactcentersandindividualizedcustomer experiences,Europe’svoiceassistantmarketrankssecondgloballyandispredictedto growrapidly.Inaddition,theregion’sindustrialandITindustrieswanttodeployvoice assistant-basedsolutionsforvoiceautomationwhilealsodevelopingnewsolutionsfor complicatedusecases.
TheAsia-Pacificarearanksthirdinthemarketforvoiceassistants,owingtovoice assistantsgainingexponentialtractionintheregionastheregion’sITsectorbooms,and growingeconomiesintheregionareoptingforsmartcontract-basedsolutionsfor reliabilityandefficiency.Furthermore,powerfulAIensuresthateachrequestisrouted totheassistantinthemostappropriateandpleasurablemannerpossible.
Market Segmentation
Basedonthetechnology,theglobalvoiceassistantmarketissegmentedintonatural languageprocessing,speech/voicerecognition,andtexttospeechrecognition.
Basedonthehardwareproducts,themarketissegmentedintosmartspeakers& personalassistants,laptops,smartphones&tablets,set-topboxes(coveringremote controlwithmicandfar-fieldmic),andothers-PC,wearabledevices,andhealthcare.
Basedontheapplication,thevoiceassistantmarketissegmentedintomessengerbots, websites,contactcenters,andothers.
Basedontheend-user,theglobalvoiceassistantmarketissegmentedintoindividual users,largeenterprises,andSMEs.
Basedontheregion,theglobalvoiceassistantmarketissegmentedintoNorthAmerica, Europe,Asia-Pacific,andtheRestoftheWorld(RoW).
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Industry News
Themajorkeyplayersinthemarketare IBMCorporation(US),Nuance Communications,Inc.(US),Amazon.com,Inc.(theUS),Microsoft(US),GoogleLLC(US), AppleInc.(US),CiscoSystems,Inc.(theUS),OrangeS.A.(France),SamsungElectronics (SouthKorea),VerintSystemsInc.(US),andCreativeVirtualLtd.(UK).
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