The Voice User Interface Global Market Report 2023 by The Business Research Company, provides voice user interface market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Voice User Interface Global Market Report 2023, the market size is expected to grow from $17.32 billion in 2022 to $20.99 billion in 2023 at a compound annual growth rate (CAGR) of 21.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global voice user interface is expected to grow to $45.56 billion in 2027 at a CAGR of 21.4%.
The rise in the usage of artificial intelligence is expected to propel the voice user interface (VUI) market going forward. Artificial intelligence describes how machines mimic human intelligence. The VUI uses AI technology to enable users to communicate with various devices. The voice AI trend is gaining popularity due to various third-party platforms as it offers an improved customer experience. As a result, more companies include the use of AI technology as part of their growth strategy, which is in turn driving the voice user interface market.
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The voice user interface market is segmented:
1) By Product: Solution, Service
2) By Technology: AI-Based, Non-AI Based
3) By Application: Smart Speakers, Interactive Voice Response, On-Premise Solutions, Cloud Solutions, Voice-Controlled Devices, Smartphones And Tablets, Other Applications
4) By Industry Vertical: BFSI, Retail And Ecommerce, Consumer Electronic, Automotive And Transportation, Healthcare And Life Science, Travel And Hospitality, Government And Defense Sector, Other Industry Verticals
Technological advancement is gaining popularity in the voice user interface market. Major companies operating in the market are focused on innovating new products, such as the Logitech VoiceMouse m380 wireless mouse with speech recognition technology. For instance, in April 2021, Logitech, a Switzerland-based computer peripherals and software company, partnered with Baidu, a China-based technology company, to launch the Logitech Voice m380 wireless mouse, a product that involved the use of intelligent Baidu speech technology called Baidu Brain. The artificial intelligence-based Baidu Brain offers speech input for Chinese, for which dictating text is 2-3 times faster than typing. The product also offers translation capability for a few other languages.
The voice user interface market report table of contents includes:
1. Executive Summary
2. Voice User Interface Market Characteristics
3. Voice User Interface Market Trends And Strategies
4. Voice User Interface Market – Macro Economic Scenario
5. Voice User Interface Market Size And Growth
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26. Middle East Voice User Interface Market
27. Africa Voice User Interface Market
28. Key Mergers And Acquisitions In The Voice User Interface Market
29. Voice User Interface Market Future Outlook and Potential Analysis
30. Appendix
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