Voice Assistant Market Highlights:
The global voice assistant market is expected to register a robust 39.27% over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). Major drivers for the global voice assistant market include the growing use of voice assistant software in smartphones and the growing demand for voice assistants in automation systems, including industrial as well as home automation.
The development of chatbots and messenger bots to facilitate smooth exchanges between a website and its customers is also likely to be a major driver for the global voice assistant market over the forecast period. The global Voice Assistant Market is expected to reach a valuation of USD 7.8 billion by 2023, according to the MRFR report.
The global voice assistant market is split into two in terms of the direction of the voice assistant market in the future. Companies such as Google have focused on making their voice assistants, Google Assistant in the case of Google, obviously robotic and efficient at getting a multitude of tasks done rather than being fun to interact with or chat. Amazon’s Alexa, Apple’s Siri, and Microsoft’s Cortana, meanwhile, represent the other end of the spectrum, consisting of companies looking to make their voice assistants human-like in all aspects and able to carry on conversations with their users that don’t sound robotic. The development in this field is primarily centered on providing users with a digital companion rather than an efficient, work-ready assistant.
The latter direction is likely to remain popular over the forecast period, as consumers are increasingly valuing their interaction with the voice assistant as a key feature of the utility of the service.
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Leading players in the global voice assistant market include Nokia Networks, Nuance Communications, Creative Virtual Ltd., Next IT Corporation, Orange S.A., Samsung Group, Microsoft Corporation, Apple Inc., Google Inc., and Amazon Inc.
In Amazon’s re:Mars conference in June 2019, the company announced plans to enhance the conversation capabilities of Alexa with a new feature called Alexa Conversations.
In June 2019, the U.S.-based Women’s Health Network launched a new voice assistant to improve the operations at its 1500 physician locations.
The same month, Waze, a popular map app, integrated Google Assistant into its functionality, allowing users to communicate to the app with the help of Google Assistant.
In May 2019, Yandex, known as the Google of Russia due to its major spread of operations in the country, launched a new expansion of its Alice assistant program by adding smart home functionalities.
The global voice assistant market is segmented on the basis of technology, application, end use, and region.
- By technology, the global voice assistant market is segmented into speech recognition, speaker dependent systems, speaker independent systems, natural language processing, text-to-speech recognition, and voice recognition.
- By application, the global voice assistant market is segmented into messenger bots, websites, contact centers, and others. Websites hold the largest share in the global voice assistant market, whereas the messenger bots segment is expected to exhibit the fastest growth over the forecast period.
- By end use, the global voice assistant market is segmented into individual users, SMEs, and large enterprises.
North America is the dominant regional segment in the global voice assistant market due to the growing use of mobile and Internet communications in the region, powered by the smooth growth of telecommunication infrastructure development in countries such as the U.S. and Canada. The growing use of smart homes and smart industrial systems in the region is also likely to remain a key driver for the voice assistant market over the forecast period, as voice assistants are considered as a very welcome addition to automation systems, allowing the user to communicate with the system in a reliable and convenient manner.
Asia Pacific is likely to exhibit the fastest growth rate over the forecast period due to the growing use of smartphones in the region, which has led to a growing demand for voice assistants.
- Device manufacturers
- Network Operators
- Research firms
- Software Developers
- Commercial Banks
- Semiconductor Manufacturers
- End-user sectors
- Technology Investors
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research objective
1.3 Market Structure
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List of Tables
Table 1 Voice Assistant Market, By Technology
Table 2 Voice Assistant Market, By Application
Table 3 Voice Assistant Market, By End User
List of Figures
Figure 1 Research Type
Figure 2 Voice Assistant Market, By Technology (%)
Figure 3 Voice Assistant Market, By Application (%)
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