Voice Assistant Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2018–2026

Report Code: ZMR-3594 | Report Format : | Status : Upcoming |

Abstract

Global Voice Assistant Market: Overview

Voice Assistant is a new technological innovation that has the ability to perform myriad tasks including voice recognition, playing music, natural language processing, playing music, answering queries, and placing online orders. It finds applications across various equipment such as smartphones and smart speakers. In addition, voice assistants are growing more popular among car owners and retailers along. Its re demand across education, telecommunications, and healthcare sectors are gaining momentum as a result of exceptional characteristics.  In addition to this, many of the mobile applications and operating systems make use of voice assistants.

Global Voice Assistant Market: Growth Factors

Massive incidences of voice searches and escalating penetration of broadband & internet connections in households are projected to generate profitable roadmap for voice assistant market in the years ahead. In addition, prolific use of speech and voice recognition technologies in smart home equipment is expected to further boost the voice assistant market earnings over the ensuing years. Growing demand for smartphone-based voice assistants such as Apple’s Siri and Google Assistant along with lucrative use of smart speaker-based voice assistants such as Amazon Alexa, Apple HomePod, and Google Home are the major growth drivers of voice assistant market. Developers are adding new features to voice assistants and this will change the very facet of voice assistant market in the coming decade. Moreover, inception of new technologies such as augmented reality, virtual reality, artificial intelligence, big data analytics, and internet of things will facilitate the growth of voice assistant market in the years to come.

Global Voice Assistant Market: Segmentation

The global voice assistant market can be divided based on application, end user, and technology. On the basis of application, the market can be sectored into contact servers, messenger bots, and websites. Based on the technology, the voice assistant market is divided into speech recognition, voice recognition, and text-to-speech recognition technologies. Based on the end user, the market is segmented into individual users, large enterprises, and small & medium enterprises.

Global Voice Assistant Market: Regional Analysis

Based on regions, the global voice assistant market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific voice assistant market is projected to witness rapid growth over the forecast timeline, subject to growing trends among the people for new electronic goods along with rampant use of voice-first technology across the economies such as India, Japan, and China. Furthermore, large-scale requirement of customer relationship management is likely to stretch the growth trajectory of voice assistant market towards the upward direction.

Europe voice assistant market is anticipated to observe a decent growth over the ensuing years with countries such as the UK, Germany, and France being the major regional revenue pockets. The growth of the region can be attributed to rise in the living standards, growing demand for luxury items, and massive investments in IoT sector. In addition, presence of modern infrastructure along with massive acceptance of new technologies in European countries will spur the growth of voice assistant market in the years ahead.

Voice assistant market in Latin America and Middle East and Africa is anticipated to experience a sluggish growth in the near future.

Global Voice Assistant Market: Competitive Players

The key market players of the global voice assistant market include Apple, Inc., Google, Inc., Alibaba Group Holding Limited, Microsoft Corporation, Sony Corporation, Orange S.A., and Samsung Group among others.

Global Voice Assistant Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • The UK
    • France
    • Germany
  • The Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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