Press release
2025-2034 Voice Assistant Application Market Evolution: Disruptions, Innovations, and Untapped Opportunities
Voice Assistant Application
What Is the Expected CAGR for the Voice Assistant Application Market Through 2025?
The market size for voice assistant applications has seen significant expansion in the past few years. Its growth is predicted to surge from $5.61 billion in 2024 to $7.21 billion in 2025, with a compound annual growth rate (CAGR) of 28.5%. The increase during the historical period is due to factors like the widespread availability of smart devices, their integration in smart home systems, and the popularity of virtual assistants in the business sector.
What's the Projected Size of the Global Voice Assistant Application Market by 2029?
In the years ahead, the market for voice assistant applications is anticipated to experience significant expansion, and its worth is expected to reach $22.85 billion in 2029, with a compound annual growth rate (CAGR) of 33.4%. Factors contributing to the growth during the forecast period include integration with wearable tech, healthcare applications, voice command capabilities, multilingual and multimodal functionalities, as well as voice commerce and e-commerce integration. Notable trends for the forecast period encompass the emergence of voice-activated healthcare solutions, in-car system integration, customization and personalization options, and the use of voice assistants in businesses and enterprises.
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Top Growth Drivers in the Voice Assistant Application Industry: What's Accelerating the Market?
The rise of voice-enabled devices is fueling the expansion of the voice assistant application market. These voice-activated devices interpret spoken commands and questions, often using text-to-speech to deliver a reply. Over the years, voice activation technology has proven useful in offering aid, managing customer experience, and boosting productivity. The inclusion of apps like Alexa, Siri, Google Assistant, and Cortana has introduced an additional layer of enhanced customer assistance and engagement. For example, as per the Canadian Broadcasting Corporation, a broadcasting company based in Canada, in Fall 2022, there was a 4-point increase from Fall 2021 as 65% of French-speaking people confirmed using an Internet-connected TV.
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What Trends Will Shape the Voice Assistant Application Market Through 2029 and Beyond?
The emergence of AI-powered voice assistants is proving to be a significant trend in the voice assistant application market. Industry-leading companies are making efforts to create AI-driven voice assistants for providing a different form of interaction with numerous business applications. For example, in June 2022, Athenahealth, an American healthcare organization providing network-enabled services and mobile applications, launched athenaOne, a voice assistant tech based on AI. AthenaOne is an entirely integrated, mobile-compatible, voice-guided virtual assistant designed to speed up data retrieval while allowing healthcare professionals to perform their clinical tasks hands-free. This innovative iOS-compatible mobile device helps doctors to efficiently dictate medical documentation while freeing up their time to communicate more with their patients.
What Are the Main Segments in the Voice Assistant Application Market?
The voice assistant applicationmarket 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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Which Top Companies are Driving Growth in the Voice Assistant Application Market?
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
Which Regions Will Dominate the Voice Assistant Application Market Through 2029?
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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