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2022
Voice Assistant Application Market

Voice Assistant Application Market by Component (Solutions and Services), Deployment Model (On-Premises and Cloud), Enterprise Size (Large Enterprises and Small & Medium Enterprises), Application (Web Application, Mobile Application, Smart Devices and Others) and Industry Vertical (BFSI, Healthcare, Retail & E-Commerce, Media & Entertainment, IT & Telecom, Manufacturing and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030.

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Feb 2022 | 64 Views
   
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Voice assistant application is an intelligent assistant that has access to a huge amount of information on the device and helps individuals in doing simple tasks. Such technologies assist in enhancing the services of voice assistants through the interpretation of words by converting voice into text. Voice assistants are programs that can perform various tasks that range from making an order online to schedule an appointment. A smart personal assistant can assist a person with basic tasks such as setting alarms, sending personal messages, playing music, and others. With the development in natural language processing and automatic voice recognition technologies the voice assistant application market is likely to gain substantial lift. Voice Assistants assist in understanding natural language and can support with things like making meeting requests, informing sports score, and sharing the weather forecast and current news.  

Market Scope and Structure Analysis:

Report Metric

Details

 Market size available for years

  2020–2030

  Base year considered

  2020

  Forecast period

  2021–2030

  Forecast units

  Value ($)

  Segments covered

Component, Deployment Model, Enterprise Size, Application, Industry Vertical and Region.

  Companies covered

Major players include: International Business Machines Corporation, Alphabet Inc., Amazon Web Services Inc., Microsoft Corporation, Apple Inc., Baidu Inc., Salesforce.com Inc., Verbio Technologies S.L., Samsung Electronics Co. Ltd., Oracle Corporation

 

COVID-19 Scenario Analysis: 

  • The COVID- 19 has influenced the automation and adoption of technologies such as smart homes, artificial intelligence, machine learning, and big data. At the same time, problems related to logistics encouraged manufacturing companies to consider new automation technologies that compensate for higher wages and increase efficiency. Many people had taken up do-it-yourself products to keep them involved and improve comforts at the house during a lockdown situation.   
  • The voice assistant market witnessed significant growth owing to an increase in automation investments constantly. The growing implementation of voice assistants in the automobile industry for car driver assistance systems and in-vehicle entertainment systems led to market growth. Internet of things and artificial intelligence-enabled voice assistance is equipped by the automobile industries to enhance the driving experience. 

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

The increase in acceptance of technically advanced mobile devices, integration of voice-controlled personal assistants with home appliances, and uninterrupted & easy connectivity to smart appliances to handle and perform tasks remotely are the factors driving the growth of the voice assistant application market. In addition, the development of an omnichannel ecosystem integrated with artificial intelligence to allow retail customers to make purchases using voice shopping drives market growth. However, the limitations of integrating voice assistants with devices and the high cost of the devices are the factors hampering the growth of the market. Furthermore, the rise in recognition of the benefits of cloud-based solutions and its implementation in voice assistant applications is expected to provide lucrative opportunities to the growth of the voice application market. 

The Market Trends for Voice Assistant Application Market:

Increasing Adoption of Technological Advanced Mobile Devices:

The increase in the number of mobile users and end-users choosing technologically advanced mobile gadgets for personal and professional use has led to the increase in the use of advanced assistive technologies such as voice assistants.

Enhanced user interference in mobile applications and the use of devices such as smartphones and tablets which offer high data processing speed are the factors responsible for the adoption of digital business support systems around the world. Businesses are providing their employees with portable devices for corporate purposes, and to support this, mobile device makers are developing new functionality in devices that supports voice assistant applications. 

Adoption of Voice Assistant Application by the Healthcare Sector:

The Healthcare sector has analyzed the advantages and benefits of voice assistant applications for improving efficiency and improving patient experience. Voice assistant applications in the healthcare sector may assist in the chronic disease management of patients. Smart healthcare applications integrated with voice assistants enable the patients to manage their medication and monitor health recovery progress efficiently. Integration of artificial intelligence with the voice assistant application helps to collect the data using the patients' information and understand the patterns of chronic disease. The increased adoption of voice assistant applications in healthcare drives the market growth in the forecasted period.  

Key Benefits of the Report:

  • This study presents an analytical depiction of the voice assistant application market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the market share.
  • The current market is quantitatively analyzed from 2021 to 2030 to highlight the voice assistant application market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the voice assistant application market.
  • The report provides a detailed market analysis based on the present and future competitive intensity of the market.

Questions Answered in the Voice Assistant Application Market Research Report:

  • Who are the leading market players active in the voice assistant application market?
  • What would be the detailed impact of COVID-19 on the voice assistant application market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the voice assistant application market?
  • What are the projections for the future that would help in taking further strategic steps?

Key Market Segments

Segments Sub-segments
Component
  • Solutions
  • Services
Deployment Model
  • On-Premises
  • Cloud
Enterprise Size
  • Large Enterprises
  • Small & Medium Enterprises
Application
  • Web Application
  • Mobile Application
  • Smart Devices
  • Others
Industry Vertical
  • BFSI
  • Healthcare
  • Retail & E-Commerce
  • Media & Entertainment
  • IT & Telecom
  • Manufacturing
  • Others
By Region
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa
 
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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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