Global Voice Assistant Application Market

Voice Assistant Application Market Size, Share, Growth Analysis, By Component (Solutions, Services), By Deployment Mode (On-premises, Cloud), By Organization Size (Small and Medium-sized Enterprises, Large Enterprises), By Channel Integration, By Region -Industry Forecast 2024-2031.

Report ID: SQMIG45E2270 | Region: Global | Published Date: April, 2024
Pages: 194 | Tables: 89 | Figures: 76

Voice Assistant Application Market News

  • In January 2023, "Hey Disney," a voice assistant first of its kind, will be released by Amazon and Disney. The "first-of-its-kind" voice assistant will provide users with "a wide spectrum of Disney enjoyment" through Echo devices at home and as a complimentary service at certain Disney Resort hotels, according to a blog post on Amazon.com. Disney used the Alexa Unique Assistant, a framework for artificial speech recognition (AI), to quickly develop its own voice assistant that works in tandem with Alexa to deliver this experience.
  • In November 2022, Sony has announced a new voice assistant for customer assistance in India in partnership with enterprise conversational AI firm Yellow.ai. The novel "Isha" AI is a multilingual virtual agent that can answer clients' questions in Bengali, Hindi, and English and, if required, put them in contact with human agents.
  • In June 2022, Thanks to a free software update from Sonos that includes their voice assistant, users may now control their speakers using voice commands. Through the Sonos app, users may now make voice requests for specific songs, albums, radio stations, or playlists. In addition to grouping and ungrouping speakers, Sonos Voice Control users can store and enjoy music with voice commands.
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Global Voice Assistant Application Market size was valued at USD 3.10 billion in 2022 and is poised to grow from USD 4.11 billion in 2023 to USD 39.29 billion by 2031, growing at a CAGR of 32.60% during the forecast period (2024-2031). 

The global voice assistant application market is highly competitive, with several multinational behemoths constantly introducing new products and services and broadening their product lines. Leading companies in the market with cutting-edge technologies and vast ecosystems are Microsoft (Cortana), Apple (Siri), Amazon (Alexa), and Google (Assistant). By continuously advancing AI, increasing language support, and integrating voice assistants into a range of consumer and business goods, these businesses are leading the way in promoting the use of voice assistants. The fierce rivalry advances technology and accelerates commercial expansion. 'Apple  ', 'AWS  ', 'Google  ', 'Microsoft  ', 'IBM  ', 'Cisco  ', 'Samsung  ', 'Oracle  ', 'SAP  ', 'Avaya  ', 'Baidu  ', 'Verint Systems  ', '[24]7.ai  ', 'Haptik  ', 'Aivo  ', 'Soundhound  ', 'Creative Virtual  ', 'Zaion  ', 'Verbio  ', 'Slang Labs  '

The growing demand for smart devices among consumers is one of the main factors propelling the worldwide voice assistant application market. The increasing popularity of smartphones, smartwatches, and smart home appliances such as Google Home and Amazon Echo is driving up demand for sophisticated voice assistant solutions. Voice-controlled interfaces meet consumer demands for efficiency and ease in device use.

Changing User Interaction for Connected Homes: IoT data creation and the number of connected devices has significantly increased because of the IoT adoption boom. Voice assistants, which provide individualized services via voice commands, are quickly taking the lead as the main user interface for connected home services. With a seamless user experience that optimizes the value of connected devices and improves customer service, this change is revolutionizing the way consumers engage with devices.

During the projected period, growth in the voice assistant market is anticipated in North America. The voice assistant market is expanding due to a number of factors, including the presence of many well-established players in the US, a rising percentage of investments in the use of AI, a growing preference for automated operations in contact centers, significant investment in IT, and a growing uptake of cutting-edge technologies like deep learning, machine learning, and natural language processing in the area. Due to factors like the increasing use of connected devices, mergers and acquisitions, huge IT spending, increasing investments by major market participants, and recent technology breakthroughs, Europe has the second-largest voice assistant market in the world. Europe is experiencing a massive need for intelligent virtual assistants due to the proliferation of big data.

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Global Voice Assistant Application Market

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