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Market Scenario:
The Voice Assistant Market is anticipated to grow by US$7.30 Billion by 2025 rapidly growing at a CAGR of 24.32% during the forecast period 2019–2025. The global voice assistant market is driven by increasing popularity of connected devices and high demand for self-service applications. These factors have helped shape the voice assistant market and are expected to boost the growth. Companies in the voice assistant market could also face challenges such as limited integration of voice assistants and lack of content in regional languages. The details covered in the voice assistant market report cover all the aspects of the industry. voice assistant market analysts have also shared growth projections in the report and have suggested voice assistant market players to plan growth strategies accordingly.
COVID-19 Analysis:
The business impact of SARS-CoV-2 has been felt across diverse sections of the information technology industry, albeit at different levels. Companies in the technology sector that supply services for verticals like travel, retail, hospitality, and entertainment have noted a dramatic decrease in sales, while the firms that provide services related to remote worker solutions have observed the opposite. Voice Assistant Market ’s fate post pandemic has been relatively less grim compared to Education Services (ES) and Professional Services (PS) that are mostly dependent on components that are generally on-site. Novel coronavirus has Voice Assistant Market to open new avenues for those firms that are on the lookout for solutions that are reliable, efficiently managed, scalable, and are subscription-based, to remain more focused on the core business. The Voice Assistant Market is bearing lesser impact of the COVID-19 outbreak compared to most other segments of the tech world.
In a nutshell, COVID-19 impact on managed services has been fruitful, with the market growth enhanced than before. Given the prevalent lockdown situation, managed services vendors are now investing heavily in remote-centric worker solutions, which can make the market highly resilient in the coming years, even as the world is currently rushing to achieve a COVID-19 breakthrough.
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Competitive Outlook:
The voice assistant market is supported by personalized services triggered with voice commands and easy integration of voice assistants in connected devices. The population growth around the world and increasing demand of voice assistant market-based services and products also support the market growth. However, the voice assistant market growth can be affected due to lack of awareness about the smart home trend. The report covers all such details which will help companies in the voice assistant market to strengthen their business plan and improve their product portfolio. The voice assistant market research report also provides company profiles of major companies. The company profile of organizations operating in the voice assistant market discusses strategies, growth plans, size, revenue, and mergers and acquisition details of top companies in the voice assistant market. New entrants and established players can plan their strategies based on this data provided in the voice assistant market research report.
Segmentation:
The global voice assistant market has been segmented based on technology, hardware, application, and end-users. On the basis of technology, the market for voice assistant is segmented based on speech recognition, natural language processing, text to speech recognition, voice recognition. Additionally, the market on the basis of hardware, is segmented into set-top box, smartphone & tablets, smart speakers (google assistant, alexa and amazon echo, Bixby, Nina, Duer, jbl, netgear orbi voice). The global market for voice assistant is also covered based on application segment, which is further split into messenger bots, websites, contact centers. Based on end-users, the market for voice assistant is segmented based on individual user, smes, large enterprises.
Factors like increasing instances of voice search and advent of IoT support the voice assistant market growth. The performance of the voice assistant market has also been studied for the past and current years. Additionally, the voice assistant market report provides analysis of these segments. The voice assistant market segmental analysis provided in the report offers major details about the voice assistant market performance and future.
Regional Analysis:
Companies in the voice assistant market are spread across the world. The voice assistant market report provides major information about regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The North American voice assistant market has many companies across the United States, Canada, and Mexico. Europe has companies in the voice assistant market across Germany, France, Spain, Italy, and the United Kingdom. A detailed analysis of the voice assistant market across India, China, and Japan in the Asia-Pacific region is also presented in the report. The voice assistant market of the Middle East, Africa, and other regions has also been studied by analysts. The regional analysis of the voice assistant market can be found in the market research report.
Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
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List of Tables
TABLE 1 PRIMARY INTERVIEWS 23
TABLE 2 LIST OF ASSUMPTIONS 27
TABLE 3 GLOBAL VOICE ASSISTANT MARKET, BY TECHNOLOGY, 2020–2027 (USD MILLION) 35
Continued…
List of Figures
FIGURE 1 MARKET SYNOPSIS 14
FIGURE 2 GLOBAL VOICE ASSISTANT MARKET ANALYSIS, BY TECHNOLOGY 15
FIGURE 3 GLOBAL VOICE ASSISTANT MARKET ANALYSIS, BY APPLICATIONS 16
Continued…
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