Intelligent Voice Assistant Market Size 2021: Leading Players, Impact of COVID-19, Demands, Future Trends, Growth Factors, Strategy, Price and Gross Margin till 2027 -Apple, Google, Amazon, Microsoft

The Intelligent Voice Assistant Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The Global Intelligent Voice Assistant Market Size is Projected to Reach at a CAGR of 39% during 2021-2027.

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Market Overview:

Another use on the rise is virtual assistants adopting the role of a customer service agent. For enterprises, virtual assistants are improving customer and brand experience with a more consumer-friendly approach. For example, in June 2020, Five9, a cloud contact centre provider, launched Five9 Virtual Assistant in partnership with Inference Solutions. The system leverages conversational artificial intelligence to automate manual tasks and answer common questions in the contact centre.
Moreover, these assistants' capabilities can be personalized based on the end-user, thus improving customer experience in a particular industry. For instance, virtual assistants can help customers find a doctor's office in the healthcare sector, fill and refill a prescription, and receive payment reminders.
Some virtual personal assistants who have gained recognition across the healthcare sector are Apple's Siri, Microsoft's Cortana, and Google's Assistant. Moreover, small and medium enterprises are also involved in driving intelligent virtual assistant technology, thereby emerging as crucial participants in health-intelligent virtual assistants.

Top Leading Companies:

Apple, Google, Amazon, Conversica, Interactions Corporation, Baidu, Qualcomm, Continental AG, Huawei, Tecent, iFlytek, Unisound, Sinovoice, Spitz Information Technology, Chumenwenwen, MediaTek Inc, Espressif, Microsoft

Recent Development:

Google announced to roll out additional features for its artificial intelligence-based voice assistant - Google Assistant - to various new devices. The most important of these features is voice match, which allows smart speakers to recognize the voice of the specific user and personalize responses for that user.

Apple has acquired 106 companies, including 34 in the last 5 years. A total of 6 acquisitions came from private equity firms. It has also divested 2 assets. Apple’s largest acquisition to date was in 2014 when it acquired Beats Electronics for $3.0B. Its largest disclosed sale occurred in 1998 when it sold Orion Network Systems to Loral Space & Communications for $479M. Apple has acquired in 13 different US states, and 15 countries. The Company’s most targeted sectors include software (35%) and internet software and services (32%).

Microsoft has acquired 207 companies, including 49 in the last 5 years. A total of 13 acquisitions came from private equity firms. It has also divested 16 assets. Microsoft’s largest acquisition to date was in 2016 when it acquired LinkedIn for $26.2B. Its largest disclosed sale occurred in 2009 when it sold Razorfish to Publicis Groupe SA for $530M. Microsoft has acquired in 26 different US states, and 21 countries. The Company’s most targeted sectors include software (55%) and internet software and services (28%).

Intelligent Voice Assistant Market Segmentation by Type:

Text-Based
Text-To-Speech
Automatic Speech Recognition

Intelligent Voice Assistant Market Segmentation by Application:

Automotive Industry
Smart Home
Education Industry
Medical Industry
Consumer Electronics
Others

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North America is Expected to Hold a Major Share

With a large fraction of millennials in the region inclined toward self-service options and messaging apps, enterprises across the region are estimated to opt for IVA services to cater to their needs, thereby fueling the growth of the market across the region.
The robust banking and healthcare sector of the region has actively invested in chatbots for customer personalization. The early adopters of AI-assisted chatbots in the banking sector are from North America.
For instance, Nuance Communications, a prominent player in the market, revealed that 80% of 10,000 US clinicians believe that virtual assistants would drastically change healthcare by the end of 2019. Such high consumer inclination toward self-service options has led to the growth of the messaging applications indicate the favourable environment for the adoption of IVA chatbots across regions.
Furthermore, companies' growing investments in developing improved IVA technology with the help of artificial intelligence and machine learning to support automated decision-making systems are expected to fuel the market across the region. Recently, Amazon added a notification capability to the Amazon Voice Services API. Therefore, this latest voice notification feature allows Alexa to indicate that there is some new content, such as shopping updates, upcoming offers, shopping festival details, and many such updates. These voice search notifications are expected to become the latest trend in the coming years.

Regional Intelligent Voice Assistant Market (Regional Output, Demand & Forecast by Countries)

North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And additional.

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Highlights of the Intelligent Voice Assistant Market Report:

Detailed overview of Intelligent Voice Assistant Market
Changing the Intelligent Voice Assistant market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected Intelligent Voice Assistant market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Intelligent Voice Assistant Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth.

The research includes historic data from 2016 to 2021 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, the Intelligent Voice Assistant Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Intelligent Voice Assistant industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.

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