Global Voice Assistant Application Market: By Component Type: Solutions, Services; By Deployment Type: On-Premises, Cloud; By Company Size: Individual users, Small and Medium Enterprises, Large enterprises; By Application: Web Applications, Mobile Applications, Devices; 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; By Region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa; Historical Production and Consumption (2015-2019); Production and Consumption Forecast (2020-2025); SWOT Analysis; Competitive Landscape & Supplier Analysis

Global Voice Assistant Application Market Key Insights:

Market Outlook

The global voice assistant application market stood at a value of around USD 1.9 billion in 2019 and is further expected to grow at a CAGR of 24% during the forecast period of 2020-2025 to reach USD 7.7 billion by 2025. The demand for technologically advanced mobile devices has increased significantly over the past few years. Sophisticated assistive technology, voice assistant, and biometric recognition are commonly used in smartphones. Manufacturers of mobile devices are focused on integrating new functions in their products, such as voice assistant applications. Significant growth in mobile gaming has led the gaming industry to focus on the development of voice assistant systems for games. For many business aspects, mobility has become crucial, resulting in an increased demand for data collection using mobile devices, wireless networks, and unified communication, which further aids the industry.

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Properties and Applications

A voice assistant is a digital assistant that utilises voice recognition, natural language processing, and speech synthesis to assist consumers through phone applications and voice recognition. The voice assistant application industry can be segmented based on component type, deployment type, company size, application, and end-use.

Based on its end-use, the industry can be segmented into:

• Banking, Financial Services, and Insurance
• Healthcare
• Retail and E-Commerce
• Media and Entertainment
• Telecom and IT
• Manufacturing and Automotive
• Education
• Travel and Hospitality
• Others

Based on its component type, the industry is divided into solutions and services. Based on its deployment type, the market can be bifurcated into on-premises and cloud. On the basis of its company size, the industry can be categorised as individual users, small and medium enterprises, and large enterprises. By applications, the market can be segmented into web applications, mobile applications, and devices.

The EMR report looks into the regional markets for voice assistant application like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.

Market Analysis

The global voice assistant application industry is being driven by the increased focus by the companies to provide improved customer experience, companies leveraging social media platforms as a prime marketing channel, progress in ecosystems of Natural Language Processing (NLP) and Automatic Speech Recognition (ASR), and increased omnichannel implementation. The cloud deployment for voice assistant application is anticipated to expand tremendously due to the growing awareness of the advantages of cloud-based alternatives.

Competitive Landscape

The report presents a detailed analysis of the following key players in the global voice assistant application industry, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• IBM
• Google (NASDAQ: GOOGL)
• Amazon Web Service
• Microsoft
• Apple
• Baidu
• Nuance Communications
• Salesforce
• Verbio Technologies
• Samsung
• Oracle 
• Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Questions Answered in the Market Report:

• How has the global voice assistant application industry performed in the previous years (2015-2019)?
• What is the forecast assessment of the market for 2020-2025?
• What are the major drivers for the historical (2015-2019) and forecast (2020-2025) periods?
• What are the major constraints for the historical (2015-2019) and forecast (2020-2025) periods?
• What are the major demand indicators of the global voice assistant application industry?
• What is the degree of competition in the global market?
• What are the major events and developments taking place within the industry globally?

Introduction

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Market Assessment

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