The Voice Assistant Application Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Voice Assistant Application Global Market Report 2024, The voice assistant application market size has grown exponentially in recent years. It will grow from $4.38 billion in 2023 to $5.72 billion in 2024 at a compound annual growth rate (CAGR) of 30.6%. The growth in the historic period can be attributed to proliferation of smart devices, integration into smart home ecosystems, rise of virtual assistants in business.
The voice assistant application market size is expected to see exponential growth in the next few years. It will grow to $17.25 billion in 2028 at a compound annual growth rate (CAGR) of 31.8%. The growth in the forecast period can be attributed to integration with wearable devices, healthcare applications and voice commands, multilingual and multimodal capabilities, voice commerce and e-commerce integration. Major trends in the forecast period include rise of voice-enabled healthcare solutions, integration with in-car systems, customization and personalization, voice assistants in business and enterprise.
The growing voice-enabled devices are contributing to the growth of the voice assistant application market. The voice-activated device recognizes spoken instructions and inquiries, and commonly employs text-to-speech to play a response. Over time, voice activation technology has aided in the provision of assistance, the management of customer experience, and increase productivity. Another layer of increased customer assistance and interactions has been added due to an app that includes Alexa, Siri, Google Assistant, and Cortana. For instance, according to Oberlo, a drop shipping app, in 2020, 111.8 million people in the USA using voice search features, up 9.5% from the previous year. By 2021, it is predicted to have grown by 9.7% to 122.7 million users.
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The voice assistant application market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Deployment mode: On-Premises, Cloud
3) By Applications: Web Applications, Mobile Applications
4) By End-use: Banking, Financial Services, And Insurance, Healthcare, Retail And E-Commerce, Media And Entertainment, Telecom And IT, Manufacturing And Automotive, Education, Travel And Hospitality, Other End Users
Top Major Players
Apple Inc.
Google LLC
Samsung Group
Amazon Web Services
IBM Corporation
Major companies operating in the voice assistant application market are focusing on advanced solutions such as male voice assistance to enhance the user experience and expand global accessibility. Male voice assistance refers to the provision of a voice-controlled digital assistant using a masculine or male-sounding voice for interaction and commands. For instance, in July 2021, Amazon, a US-based technology company, launched Ziggy, a male voice assistant for echo speakers, offering users an alternative voice option while retaining access to Alexa’s voice. To switch to Ziggy’s voice, users need to manually select it by saying Alexa, change your voice or by accessing the Settings menu in the Alexa app.
The voice assistant application market report table of contents includes:
1. Executive Summary
2. Voice Assistant Application Market Characteristics
3. Voice Assistant Application Market Trends And Strategies
4. Voice Assistant Application Market – Macro Economic Scenario
5. Global Voice Assistant Application Market Size and Growth
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32. Global Voice Assistant Application Market Competitive Benchmarking
33. Global Voice Assistant Application Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Voice Assistant Application Market
35. Voice Assistant Application Market Future Outlook and Potential Analysis
36. Appendix
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