Press release
The Voice Assistant Application Market is set to reach US$ 20.66 billion by 2028, expanding at a CAGR of 32.7% over the forecast period.
Voice Assistant Application Market
Report Scope :
The report primarily focuses on recent advancements, leading firms in the industry, market share, revenue produced, and regional information to provide a detailed overview of the voice assistant application market.
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What Are Voice Assistant Applications?
Voice assistant applications are software programs that use artificial intelligence (AI) to interpret language voice commands and perform tasks for users, like setting reminders, playing music, answering questions, controlling smart home devices, and more. Simply, they act as your digital assistants. They can be used to interact with device apps and services. Voice assistants utilize Natural Language Processing (NLP) to interpret human speech and respond accordingly, allowing for complex questions and requests. They are available on a wide range of devices like smartphones, smart speakers, smartwatches, tablets, and even in cars, making them readily accessible to users. Voice assistants can be useful for making life easier, especially for people with disabilities.
Growth Drivers and Opportunities:
• The rising adoption of smart devices, expanding digitization, and the demand for enhanced customer experiences drive the expansion of the voice assistant application market.
• The rise of smart homes and the expansion of the gaming industry over the years have contributed to the increased adoption of voice assistant applications, thereby enhancing market growth.
• The increasing use of the Internet of Things and linked devices has led to a higher market demand for voice assistant applications.
• Improvements in AI, natural language processing, robotic support, and machine learning, along with lower technology costs, have significantly boosted the demand for voice assistant apps.
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Key Players in Market:
The top companies in the market are implementing strategies to enhance their market presence by offering innovative solutions to their clients. These companies are also working together with other leading companies to broaden their services and attract new clients. These key players are:
• Amazon Web Services.
• Apple Inc.
• Avaya Inc.
• Baidu Inc.
• Cisco
• IBM Corporation
• Microsoft Corporation
• Nuance Communications
• Oracle Corporation
• Salesforce.com Inc.
• Samsung
• Google LLC
• SAP
• Verbio Technologies
• Verint
Regional Analysis:
North America dominated the voice assistant application market in 2020 thanks to voice assistant applications being more and more popular among businesses as a result of the need to enhance the customer experience.
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Segmental Overview:
Voice Assistant Application Market, Component Outlook (Revenue, USD Billion, 2016 - 2028)
• Solution
• Services
Voice Assistant Application Market, Deployment Model Outlook (Revenue, USD Billion, 2016 - 2028)
• Cloud
• On Premise
Voice Assistant Application Market, Organization Size Outlook (Revenue, USD Billion, 2016 - 2028)
• Large Enterprises
• Small and Medium Businesses
Voice Assistant Application Market, End-Use Outlook (Revenue, USD Billion, 2016 - 2028)
• Telecom and IT
• Healthcare
• Retail
• BFSI
• Media and Entertainment
• Manufacturing
• Others
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