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Key Factor Supporting Voice Assistant Application Market Development in 2025: The Rise Of Voice-Enabled Devices Fuels Growth In The Voice Assistant Application Market
Voice Assistant Application Market
Voice Assistant Application Market Size Growth Forecast: What to Expect by 2025?
The market size of the voice assistant application has experienced significant growth in the past few years. The value is projected to increase from $5.61 billion in 2024 to $7.26 billion in 2025, with a compound annual growth rate (CAGR) of 29.4%. The substantial growth observed in the historic period can be associated with the spread of smart devices, their incorporation into smart home systems, and the emerging prevalence of virtual assistants in the business sector.
How Will the Voice Assistant Application Market Size Evolve and Grow by 2029?
The market size of the voice assistant application is predicted to witness massive expansion in the upcoming years, reaching a valuation of $23.3 billion in 2029, growing at a compound annual rate of 33.9%. This growth within the predicted period can be linked to the integration of these applications with wearable technology, healthcare software, and voice-commanded systems, and also their multilingual and multimodal functionality, as well as their synergy with voice commerce and e-commerce. Significant trends during this projected phase include the emergence of voice-responsive healthcare solutions, integration with automotive systems, customization and personalization options, and the adoption of voice assistants in the business and enterprise sector.
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What Drivers Are Propelling the Growth of Voice Assistant Application Market Forward?
The surge in the use of voice-enabled devices is propelling the growth of the voice assistant application market. These voice-activated devices rely on the ability to understand spoken commands and inquiries, frequently utilizing text-to-speech technology for responses. Over the years, voice activation technology has played an instrumental role in providing assistance, enhancing customer experience, and boosting productivity. The introduction of an app featuring Alexa, Siri, Google Assistant, and Cortana has added another dimension to customer assistance and interaction. For example, the Canadian Broadcasting Corporation reported in 2022 that, in the fall of the same year, 65% of French speakers admitted to using an Internet-connected TV. This represents a 4-point increase from fall 2021.
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Which Emerging Trends Are Transforming the Voice Assistant Application Market in 2025?
Voice assistant applications utilizing AI technology is a trend that is seeing significant growth. Key players in the voice assistant application industry are concentrating on the creation of AI-driven voice assistants to provide users with a new form of interaction with various business applications. Following this trend, in June 2022, Athenahealth, an American company that offers network-enabled services and mobile apps for healthcare, launched athenaOne, a voice assistant technology powered by AI. AthenaOne is a fully-integrated, mobile and voice-operated digital aide that enhances the speed of data retrieval and enables healthcare staff to fulfill clinical tasks hands-free. The recent iOS-based device allows medical professionals to confidently and intuitively complete medical documentation, freeing their time for patient interaction.
What Are the Key Segments in the Voice Assistant Application Market?
The voice assistant application market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Deployment Mode: On-Premises, Cloud
3) By Applications: Web Applications, Mobile Applications
4) By End-Use: Banking, Financial Services, And Insurance, Healthcare, Retail And E-Commerce, Media And Entertainment, Telecom And IT, Manufacturing And Automotive, Education, Travel And Hospitality, Other End Users
Subsegments:
1) By Solutions: Voice Recognition Software, Natural Language Processing (NLP) Tools, Voice User Interface (VUI) Design Software, Integration Platforms
2) By Services: Installation And Setup Services, Maintenance And Support Services, Consulting Services, Custom Development Services
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Who Are the Key Players Shaping the Voice Assistant Application Market's Competitive Landscape?
Major companies operating in the voice assistant application market include Apple Inc., Google LLC, Samsung Group, Amazon Web Services, IBM Corporation, Microsoft Corporation, Cisco Systems Inc., Orange S.A, Oracle Corporation, SAP SE, Salesforce Inc., Baidu Inc., Avaya LLC, Verbio AG, Writer, Nuance Communications Inc., Verint Systems, Inbenta, SoundHound AI Inc., Kata.ai, Let's Nurture Infotech Pvt Ltd., Aivo, Rasa, Avaamo, Zaion, Mindsay, Creative Virtual, Orbita, Slang Labs, Clinc, Uniphore, Cleo AI Ltd., Clarigent Health, Datch
What Geographic Markets Are Powering Growth in the Voice Assistant Application Market?
North America was the largest region in the voice assistant application market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the voice assistant application market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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