Market Scenario:
The Global Voice Assistant Market size is expected to reach USD 30.74 Billion during the forecast period by registering a CAGR of 31.2%. A voice assistant is a digital assistant that uses artificial intelligence, machine learning, and voice recognition technology to assist. It can interpret and respond to human voice instructions, assisting with common chores such as booking an appointment, placing an online order for tangible things, and messaging while hands-free. The market is expected to increase because of the rising popularity of connected devices, increasing acceptance of smart homes, increasing instances of voice search, and high demand for self-service applications.
Speech technology was prepared to expand the market before the COVID-19 pandemic, with a consistent growth rate of voice-enabled gadgets sold per population. Consumers are staying at home more and seeking new ways to keep themselves entertained, while front-line healthcare workers continue to seek protection and new ways to work. For example, China developed a speech robot that can collect and verify personal information such as identity, health status, and location in five minutes vs two to three hours manually.
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Segmentation:
The global voice assistant market has been segmented based on technology, hardware, application, and end-users. Based on 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. On the basis of 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.
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.
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.
Industry News
Apple Inc. has purchased Voysis, which has developed a remote speech assistance tool to help interpret the natural language of people. In Dublin, Ireland-based Voysis, virtual assistants were improved in online shopping applications so that the device could more specifically respond to users' voice commands in a range of languages and accents.
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
Continued….
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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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