Press release
Global Voice Assistant Market – Analysis and Forecast To 2024, IBM Corporation, Salesforce.com Inc., Amazon.com Inc., Apple Inc., Microsoft Corporation, Verint Systems Inc., Nokia Corporation, Alphabet Inc.
The global voice assistant market is projected to reach USD 5,843.8 million by 2024, registering a CAGR of 27.7% during the forecast period. Increasing customer experience and growing demand for contact centers, propelling the growth of the market. Wide adoption of cloud technology by BFSI, retail & e-commerce, healthcare, and automotive industries creates an ample opportunity for the growth of the global voice assistant market.
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Insight by Application
Based on application, the voice assistant market is segmented into messenger bots, websites, contact centers, and others. Of all, contact centers category is anticipated to witness fastest growth in the market during the forecast period. The growth of this segment is attributed to the fact that combination of voice assistant in contact centers, which helps understand customer insights in a better way and enhance performance of the employees.
Growth Drivers
Global voice assistant market has been driven by several key factors, predominantly increasing demand for voice assistant technology in contact centers, rising focus on customer satisfaction, increase in demand for value added customer support services in various industries such as retail, healthcare, automotive, and BFSI, advancements in imaging technologies, and rising shift in businesses toward automation.
Geography Insight
Geographically, North America has accounted for the largest share in voice assistant market, globally and is predicted to grow significantly during the forecast period. The growth of this market is attributed towards the existence of a large number of established players in the U.S., increasing number of investments related to adoption of AI, increasing preference for automated work operations in contact centers, huge investment on IT, and increasing adoption of emerging technologies, such as machine learning, natural language processing, and deep learning in the region.
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Competitive Insight
Some of the key players operating in the global voice assistant market are IBM Corporation, Salesforce.com Inc., Amazon.com Inc., Apple Inc., Microsoft Corporation, Verint Systems Inc., Nokia Corporation, Alphabet Inc., Orange SA, and Samsung Electronics Co. Ltd.
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