Global Voice Assistant Application Market Overview

Global Voice Assistant Application Market was valued at USD 2.04 Billion in 2021 and is expected to reach USD 11.22 Billion by the year 2028, at a CAGR of 27.58%

In 1911 a toy named Radio Rex was the first product that utilized automated speech recognition. Voice assistants are digital assistants that use voice recognition, speech synthesis, language processing algorithms, and natural language processing to listen to distinct voice commands and provide relevant information or perform specified functions requested by the user. Moreover, innovative emerging technologies like voice interaction augmented reality and virtual reality are changing the way individuals interact with the world and transforming digital experiences. Furthermore, advancement in cloud computing, Artificial Intelligence, and the Internet of Things (IoT) has revolutionized human-machine interaction giving rise to Voice control. Virtual assistants are a part of smartphones, tablets, and computers. Moreover, several companies such as Google, Amazon, JBL, and others have launched standalone smart devices consisting of voice assistants.

In these smart devices, a microphone is used to listen to the command, and a smart speaker is used to deliver the results. The processing and computing take place in cloud platforms. The Voice command given by the user is streamed to the cloud where it gets converted into text and after interpretation and backend processing a text response is generated which is converted into voice by a smart speaker hence, the user gets the desired results. According to Statista, in 2020 there were 4.2 billion digital voice assistants used in smart devices globally. Moreover, this number is anticipated to reach 8.4 billion units in 2024, a number that is higher than the world's population. Furthermore, the industrial use of voice assistant applications is expected to observe a 56% in usage.

Covid-19 Impact on Voice Assistant Application Market

The outbreak of COVID-19 impacted the functioning of various industries. Moreover, to constrain the spread of the virus several government-imposed lockdowns resulted in the complete shutting down of companies thus many companies incurred losses. Furthermore, as people were compelled to work at home, it impacted a positive impact on the Voice Assistant application market. Additionally, the use of smart speakers, appliances, and other IoT devices gained popularity owing to the comfort and convenience they offer. The incorporation of Voice Assistant Applications by major service providers to improve customer services has helped organizations in the period of COVID-19 even with a limited workforce.

Market Dynamics and Factors of Voice Assistant Application Market

Drivers:

The innovative novel voice technology is used across all industries. Moreover, an increase in the usage of voice assistant applications in banking, financial services, insurance, education, insurance, consumer industries, and electronics is propelling the market growth in the period of forecast. Additionally, the abilities of Voice Assistant Application to play the song on demand, checking the weather, and in smart home household giving commands to other smart devices are remarkable and attracts every consumer hence supporting the expansion of Voice Assistant Application market in the period of forecast.

Moreover, big businesses are also incorporating the use of Voice Assistant Application and are planning to further increase the use of voice technology in near future. Leading business companies uses Voice Assistant Application to include components like subtitling and closed captioning, as well as customer experience and analytics. Furthermore, benefits that organizations achieved from incorporating voice assistants were reduction in costs of customer service, daily saved man-hours, and a decline in customer churn.

Moreover, the increasing adoption of Voice Assistant devices is attributed to the advancements in Voice Assistant application technologies. Users of Voice Assistant devices find it more convenient to perform activities such as listening to music, online shopping, booking appointments, paying bills online, and listening to audiobooks. All these factors are promoting the Voice Assistant Application Market growth throughout the forecast period. Millennials are getting used to voice technology at a faster growth than their older counterparts which is one of the major factors driving the growth of the Voice Assistant Application Market. Popular voice assistants such as Apple Siri, Microsoft Cortana, Google Assistant, Amazon Siri, and Samsung's Bixby are witnessing a tremendous demand among consumers.

Restraints:

Voice assistants are present in many homes globally yet, their use in school premises and for educational purposes is restricted due to concerns regarding their privacy settings and data collection thus hampering the Voice Assistant Application Market growth in the period of forecast. Moreover, privacy concerns of these Voice Assistant devices are the major factor restraining the Voice Assistant Application Market expansion in the period of forecast. Furthermore, the voice recognition is not perfect which may result in undesirable answers further voice recognition devices won't always interpret words accurately.

Voice recognition applications are based on programs, which sometimes cannot understand the context of language the way humans comprehend, leading to flaws that are usually due to misinterpretation. High pricing of devices having voice assistant applications and less enriching interactions than other platforms is hindering the Voice Assistant Application Market growth. Moreover, continuous use of voice recognition may result in some physical discomfort and vocal problems such as hoarseness, dry mouth, fatigue, and temporary loss of voice and vocal strain, all these factors restrict the Voice Assistant Application Market growth.

Opportunities:

The increasing adoption of artificial intelligence in consumers' everyday lives is propelling the shift towards voice assistant applications. Moreover, the growing number of IoT products such as smart thermostats, appliances, and speakers provides opportunities for market players to enhance the user and voice-assisted device interactions and make it more engrossing. Furthermore, consumers from the comfort of their homes can buy products, look for product features, and can receive personalized recommendations based on their shopping history all these interactions can be achieved with the help of voice assistants. In addition, individuals are booking tickets, making appointments, creating a shopping list, making a purchase, checking the delivery status, using a customer support system, and making recommendations for a product to other consumers with the help of the Voice Assistant Application. All these factors are providing opportunities for Voice Assistant Application market players.

Challenges:

Lack of awareness of the benefits of voice assistant applications and limited knowledge of virtual assistants are the major challenges for voice assistant solutions providers. Individuals are unaware of the benefits a smartphone can do even though the sales of smartphones are high the number of individuals who use voice assistants is fewer. Moreover, consumer response towards adopting the latest technological devices such as smartphones, cloud computing, and IoT is propelling the market growth in this region.

Market Segmentation

Segmentation Analysis of Voice Assistant Application Market:

Based on Deployment, the cloud segment is expected to dominate the Voice Assistant Application Market. The dependence of voice assistants on cloud platforms for interpretation and solutions is the major factor supporting the growth of the cloud segment. Moreover, low operational and maintenance costs, higher scalability, and high effectiveness are some of the vital qualities of cloud computing. Due to increasing awareness about the advantages of cloud-based solutions, the cloud deployment segment is anticipated to grow tremendously throughout the forecast period.

Based on Components, the solutions segment is estimated to have the highest share in the Voice Assistant Application Market in the period of forecast. The standalone division of the solution segment is gaining popularity owing to the hands-free functions the device offers.

Based on Organization Size, the small and medium-sized enterprises segment is anticipated to have the highest share of the Voice Assistant Application Market in the forecast period. The growing adoption of cloud-based solutions in SMEs owing to scalability, cost-effectiveness, and flexibility which allows SMEs to cater to different markets such as, public and private, is promoting market growth in this segment. SMEs are responsible for increasing overall growth potential and producing high-quality jobs in an economy.

Based on Technology, the Natural Language Processing segment is expected to dominate the Voice Assistant Application Market. To understand the command given by the user, the complex aspect of the human dialect is broken down. Natural language processing works hard to aid voice assistants to understand the intent, context, and unique speech patterns involved in the command.

Based on Channel Integration, the mobile application is forecasted to dominate the Voice Assistant Application Market. The huge number of mobile users and integration of voice-assisted applications to purchase and view products online is contributing towards the growth of the mobile application segment.

Based on Application, the smart retail and e-commerce segment is estimated to have the highest share in Voice Assistant Application Market. The growing adoption of voice assistant applications in online shopping and online pharmacy is anticipated to propel the growth of the smart retail and e-commerce segment of the Voice Assistant Application Market in a period of forecast.

Regional Analysis of Voice Assistant Application Market:

North America region is expected to dominate the Voice Assistant Application Market in the period of forecast. North America region has the highest number of voice assistant applications users owing to the development and ease of availability of voice-based devices. According to Statista, a third of the US population owns at least one smart speaker device.

North America followed by Europe is estimated to have the second-highest market share in the period of forecast. The growing popularity of voice-assisted devices and the awareness among individuals about the benefits of voice-assisted application is boosting the market growth in this region.

Asia-Pacific region is expected to have the highest growth rate owing to the rising awareness of voice-assisted applications and the growing disposable income. Countries such as India, China, and Japan are expected to contribute towards the market growth owing to large populations and the adoption of technological advancements. 

Middle-East and African regions are forecasted to have the significant growth owing to growing awareness and rising disposable income.

Players Covered in Voice Assistant Application Market are:

  • Aivo (Argentina)
  • AWS (US)
  • Apple(US)
  • Avaamo(US)
  • Avaya (US)
  • Baidu (China)
  • Cisco (US)
  • Clinc (US)
  • Creative Virtual (UK)
  • Google (US)
  • Inbenta (US)
  • IBM (US)
  • Haptik (India)
  • Kata.ai (Indonesia)
  • Microsoft (US)
  • Mindsay (US)
  • Oracle (US)
  • Rasa (US)
  • Samsung (South Korea)
  • SAP (Germany)
  • Slang Labs (India)
  • SoundHound (US)
  • Verbio (Spain)
  • Verint Systems (US)
  • Zaion (France) And Other Major Key Players.

Key Industry Development in Voice Assistant Application Market

  • In December 2020, Amazon Web Services is deploying a hands-free voice assistant at Houston Methodist. With this Houston Methodist will be able to enhance and deliver proper patient care. With the use of technologies like ASR (Active Speech Recognition), medical practitioners will have the opportunity to utilize time interacting with patients instead of computers and devices.
  • In April 2021, Microsoft acquired Nuance to accelerate the industry cloud strategy for the healthcare sector. With this acquisition, Microsoft will be able to offer industry-specific cloud offerings and meet the growing needs of the rapidly transforming and growing healthcare sector. Microsoft will also empower the healthcare sector through its Microsoft cloud services and ambient clinical intelligence.

Global Voice Assistant Application Market

Base Year:

2021

Forecast Period:

2022-2028

Historical Data:

2016 to 2020

Market Size in 2021:

USD 2.04 Bn.

Forecast Period 2022-28 CAGR:

27.58%

Market Size in 2028:

USD 11.22 Bn.

Segments Covered:

By Type

  • On-premises
  • Cloud

By Application

  • Smart Retail and eCommerce
  • Smart Banking
  • Connected Healthcare
  • Smart Transportation
  • Others

By Organization Size           

  • Small & Medium
  • Large

By Channel Integration     

  • Mobile Applications
  • Web Applications
  • Social Media
  • Others

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Increasing Usage in Different Verticals Driving the Growth of Market

Key Market Restraints:

  • Privacy Related Concerns Hampering the Market Growth

Key Opportunities:

  • The High Adoption of Artificial Intelligence

Companies Covered in the report:

  • Aivo (Argentina), AWS (US), Apple(US), Avaamo(US), Avaya (US), Baidu (China), and Other Major Players.

Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
 3.1 By Type
 3.2 By Application
 3.3 By Organization Size
 3.4 By Channel Integration

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 5: Voice Assistant Application Market by Type
 5.1 Voice Assistant Application Market Overview Snapshot and Growth Engine
 5.2 Voice Assistant Application Market Overview
 5.3 On-premises
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 On-premises: Grographic Segmentation
 5.4 Cloud
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Cloud: Grographic Segmentation

Chapter 6: Voice Assistant Application Market by Application
 6.1 Voice Assistant Application Market Overview Snapshot and Growth Engine
 6.2 Voice Assistant Application Market Overview
 6.3 Smart Retail & eCommerce
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size (2016-2028F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Smart Retail & eCommerce: Grographic Segmentation
 6.4 Smart Banking
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size (2016-2028F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Smart Banking: Grographic Segmentation
 6.5 Connected Healthcare
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size (2016-2028F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Connected Healthcare: Grographic Segmentation
 6.6 Smart Transportation
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size (2016-2028F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Smart Transportation: Grographic Segmentation
 6.7 Others
  6.7.1 Introduction and Market Overview
  6.7.2 Historic and Forecasted Market Size (2016-2028F)
  6.7.3 Key Market Trends, Growth Factors and Opportunities
  6.7.4 Others: Grographic Segmentation

Chapter 7: Voice Assistant Application Market by Organization Size
 7.1 Voice Assistant Application Market Overview Snapshot and Growth Engine
 7.2 Voice Assistant Application Market Overview
 7.3 Small & Medium
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size (2016-2028F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 Small & Medium: Grographic Segmentation
 7.4 Large
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size (2016-2028F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 Large: Grographic Segmentation

Chapter 8: Voice Assistant Application Market by Channel Integration
 8.1 Voice Assistant Application Market Overview Snapshot and Growth Engine
 8.2 Voice Assistant Application Market Overview
 8.3 Mobile Applications
  8.3.1 Introduction and Market Overview
  8.3.2 Historic and Forecasted Market Size (2016-2028F)
  8.3.3 Key Market Trends, Growth Factors and Opportunities
  8.3.4 Mobile Applications: Grographic Segmentation
 8.4 Web Applications
  8.4.1 Introduction and Market Overview
  8.4.2 Historic and Forecasted Market Size (2016-2028F)
  8.4.3 Key Market Trends, Growth Factors and Opportunities
  8.4.4 Web Applications: Grographic Segmentation
 8.5 Social Media
  8.5.1 Introduction and Market Overview
  8.5.2 Historic and Forecasted Market Size (2016-2028F)
  8.5.3 Key Market Trends, Growth Factors and Opportunities
  8.5.4 Social Media: Grographic Segmentation
 8.6 Others
  8.6.1 Introduction and Market Overview
  8.6.2 Historic and Forecasted Market Size (2016-2028F)
  8.6.3 Key Market Trends, Growth Factors and Opportunities
  8.6.4 Others: Grographic Segmentation

Chapter 9: Company Profiles and Competitive Analysis
 9.1 Competitive Landscape
  9.1.1 Competitive Positioning
  9.1.2 Voice Assistant Application Sales and Market Share By Players
  9.1.3 Industry BCG Matrix
  9.1.4 Ansoff Matrix
  9.1.5 Voice Assistant Application Industry Concentration Ratio (CR5 and HHI)
  9.1.6 Top 5 Voice Assistant Application Players Market Share
  9.1.7 Mergers and Acquisitions
  9.1.8 Business Strategies By Top Players
 9.2 AIVO
  9.2.1 Company Overview
  9.2.2 Key Executives
  9.2.3 Company Snapshot
  9.2.4 Operating Business Segments
  9.2.5 Product Portfolio
  9.2.6 Business Performance
  9.2.7 Key Strategic Moves and Recent Developments
  9.2.8 SWOT Analysis
 9.3 AWS
 9.4 APPLE
 9.5 AVAAMO
 9.6 AVAYA
 9.7 BAIDU
 9.8 CISCO
 9.9 CLINC
 9.10 CREATIVE VIRTUAL
 9.11 GOOGLE
 9.12 INBENTA
 9.13 IBM
 9.14 HAPTIK
 9.15 KATA.AI
 9.16 MICROSOFT
 9.17 MINDSAY
 9.18 ORACLE
 9.19 RASA
 9.20 SAMSUNG
 9.21 SAP
 9.22 SLANG LABS
 9.23 SOUNDHOUND
 9.24 VERBIO
 9.25 VERINT SYSTEMS
 9.26 ZAION
 9.27 OTHER MAJOR PLAYERS

Chapter 10: Global Voice Assistant Application Market Analysis, Insights and Forecast, 2016-2028
 10.1 Market Overview
 10.2 Historic and Forecasted Market Size By Type
  10.2.1 On-premises
  10.2.2 Cloud
 10.3 Historic and Forecasted Market Size By Application
  10.3.1 Smart Retail & eCommerce
  10.3.2 Smart Banking
  10.3.3 Connected Healthcare
  10.3.4 Smart Transportation
  10.3.5 Others
 10.4 Historic and Forecasted Market Size By Organization Size
  10.4.1 Small & Medium
  10.4.2 Large
 10.5 Historic and Forecasted Market Size By Channel Integration
  10.5.1 Mobile Applications
  10.5.2 Web Applications
  10.5.3 Social Media
  10.5.4 Others

Chapter 11: North America Voice Assistant Application Market Analysis, Insights and Forecast, 2016-2028
 11.1 Key Market Trends, Growth Factors and Opportunities
 11.2 Impact of Covid-19
 11.3 Key Players
 11.4 Key Market Trends, Growth Factors and Opportunities
 11.4 Historic and Forecasted Market Size By Type
  11.4.1 On-premises
  11.4.2 Cloud
 11.5 Historic and Forecasted Market Size By Application
  11.5.1 Smart Retail & eCommerce
  11.5.2 Smart Banking
  11.5.3 Connected Healthcare
  11.5.4 Smart Transportation
  11.5.5 Others
 11.6 Historic and Forecasted Market Size By Organization Size
  11.6.1 Small & Medium
  11.6.2 Large
 11.7 Historic and Forecasted Market Size By Channel Integration
  11.7.1 Mobile Applications
  11.7.2 Web Applications
  11.7.3 Social Media
  11.7.4 Others
 11.8 Historic and Forecast Market Size by Country
  11.8.1 U.S.
  11.8.2 Canada
  11.8.3 Mexico

Chapter 12: Europe Voice Assistant Application Market Analysis, Insights and Forecast, 2016-2028
 12.1 Key Market Trends, Growth Factors and Opportunities
 12.2 Impact of Covid-19
 12.3 Key Players
 12.4 Key Market Trends, Growth Factors and Opportunities
 12.4 Historic and Forecasted Market Size By Type
  12.4.1 On-premises
  12.4.2 Cloud
 12.5 Historic and Forecasted Market Size By Application
  12.5.1 Smart Retail & eCommerce
  12.5.2 Smart Banking
  12.5.3 Connected Healthcare
  12.5.4 Smart Transportation
  12.5.5 Others
 12.6 Historic and Forecasted Market Size By Organization Size
  12.6.1 Small & Medium
  12.6.2 Large
 12.7 Historic and Forecasted Market Size By Channel Integration
  12.7.1 Mobile Applications
  12.7.2 Web Applications
  12.7.3 Social Media
  12.7.4 Others
 12.8 Historic and Forecast Market Size by Country
  12.8.1 Germany
  12.8.2 U.K.
  12.8.3 France
  12.8.4 Italy
  12.8.5 Russia
  12.8.6 Spain
  12.8.7 Rest of Europe

Chapter 13: Asia-Pacific Voice Assistant Application Market Analysis, Insights and Forecast, 2016-2028
 13.1 Key Market Trends, Growth Factors and Opportunities
 13.2 Impact of Covid-19
 13.3 Key Players
 13.4 Key Market Trends, Growth Factors and Opportunities
 13.4 Historic and Forecasted Market Size By Type
  13.4.1 On-premises
  13.4.2 Cloud
 13.5 Historic and Forecasted Market Size By Application
  13.5.1 Smart Retail & eCommerce
  13.5.2 Smart Banking
  13.5.3 Connected Healthcare
  13.5.4 Smart Transportation
  13.5.5 Others
 13.6 Historic and Forecasted Market Size By Organization Size
  13.6.1 Small & Medium
  13.6.2 Large
 13.7 Historic and Forecasted Market Size By Channel Integration
  13.7.1 Mobile Applications
  13.7.2 Web Applications
  13.7.3 Social Media
  13.7.4 Others
 13.8 Historic and Forecast Market Size by Country
  13.8.1 China
  13.8.2 India
  13.8.3 Japan
  13.8.4 Singapore
  13.8.5 Australia
  13.8.6 New Zealand
  13.8.7 Rest of APAC

Chapter 14: Middle East & Africa Voice Assistant Application Market Analysis, Insights and Forecast, 2016-2028
 14.1 Key Market Trends, Growth Factors and Opportunities
 14.2 Impact of Covid-19
 14.3 Key Players
 14.4 Key Market Trends, Growth Factors and Opportunities
 14.4 Historic and Forecasted Market Size By Type
  14.4.1 On-premises
  14.4.2 Cloud
 14.5 Historic and Forecasted Market Size By Application
  14.5.1 Smart Retail & eCommerce
  14.5.2 Smart Banking
  14.5.3 Connected Healthcare
  14.5.4 Smart Transportation
  14.5.5 Others
 14.6 Historic and Forecasted Market Size By Organization Size
  14.6.1 Small & Medium
  14.6.2 Large
 14.7 Historic and Forecasted Market Size By Channel Integration
  14.7.1 Mobile Applications
  14.7.2 Web Applications
  14.7.3 Social Media
  14.7.4 Others
 14.8 Historic and Forecast Market Size by Country
  14.8.1 Turkey
  14.8.2 Saudi Arabia
  14.8.3 Iran
  14.8.4 UAE
  14.8.5 Africa
  14.8.6 Rest of MEA

Chapter 15: South America Voice Assistant Application Market Analysis, Insights and Forecast, 2016-2028
 15.1 Key Market Trends, Growth Factors and Opportunities
 15.2 Impact of Covid-19
 15.3 Key Players
 15.4 Key Market Trends, Growth Factors and Opportunities
 15.4 Historic and Forecasted Market Size By Type
  15.4.1 On-premises
  15.4.2 Cloud
 15.5 Historic and Forecasted Market Size By Application
  15.5.1 Smart Retail & eCommerce
  15.5.2 Smart Banking
  15.5.3 Connected Healthcare
  15.5.4 Smart Transportation
  15.5.5 Others
 15.6 Historic and Forecasted Market Size By Organization Size
  15.6.1 Small & Medium
  15.6.2 Large
 15.7 Historic and Forecasted Market Size By Channel Integration
  15.7.1 Mobile Applications
  15.7.2 Web Applications
  15.7.3 Social Media
  15.7.4 Others
 15.8 Historic and Forecast Market Size by Country
  15.8.1 Brazil
  15.8.2 Argentina
  15.8.3 Rest of SA

Chapter 16 Investment Analysis

Chapter 17 Analyst Viewpoint and Conclusion

Global Voice Assistant Application Market

Base Year:

2021

Forecast Period:

2022-2028

Historical Data:

2016 to 2020

Market Size in 2021:

USD 2.04 Bn.

Forecast Period 2022-28 CAGR:

27.58%

Market Size in 2028:

USD 11.22 Bn.

Segments Covered:

By Type

  • On-premises
  • Cloud

By Application

  • Smart Retail and eCommerce
  • Smart Banking
  • Connected Healthcare
  • Smart Transportation
  • Others

By Organization Size           

  • Small & Medium
  • Large

By Channel Integration     

  • Mobile Applications
  • Web Applications
  • Social Media
  • Others

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Increasing Usage in Different Verticals Driving the Growth of Market

Key Market Restraints:

  • Privacy Related Concerns Hampering the Market Growth

Key Opportunities:

  • The High Adoption of Artificial Intelligence

Companies Covered in the report:

  • Aivo (Argentina), AWS (US), Apple(US), Avaamo(US), Avaya (US), Baidu (China), and Other Major Players.

LIST OF TABLES

TABLE 001. EXECUTIVE SUMMARY
TABLE 002. VOICE ASSISTANT APPLICATION MARKET BARGAINING POWER OF SUPPLIERS
TABLE 003. VOICE ASSISTANT APPLICATION MARKET BARGAINING POWER OF CUSTOMERS
TABLE 004. VOICE ASSISTANT APPLICATION MARKET COMPETITIVE RIVALRY
TABLE 005. VOICE ASSISTANT APPLICATION MARKET THREAT OF NEW ENTRANTS
TABLE 006. VOICE ASSISTANT APPLICATION MARKET THREAT OF SUBSTITUTES
TABLE 007. VOICE ASSISTANT APPLICATION MARKET BY TYPE
TABLE 008. ON-PREMISES MARKET OVERVIEW (2016-2028)
TABLE 009. CLOUD MARKET OVERVIEW (2016-2028)
TABLE 010. VOICE ASSISTANT APPLICATION MARKET BY APPLICATION
TABLE 011. SMART RETAIL & ECOMMERCE MARKET OVERVIEW (2016-2028)
TABLE 012. SMART BANKING MARKET OVERVIEW (2016-2028)
TABLE 013. CONNECTED HEALTHCARE MARKET OVERVIEW (2016-2028)
TABLE 014. SMART TRANSPORTATION MARKET OVERVIEW (2016-2028)
TABLE 015. OTHERS MARKET OVERVIEW (2016-2028)
TABLE 016. VOICE ASSISTANT APPLICATION MARKET BY ORGANIZATION SIZE
TABLE 017. SMALL & MEDIUM MARKET OVERVIEW (2016-2028)
TABLE 018. LARGE MARKET OVERVIEW (2016-2028)
TABLE 019. VOICE ASSISTANT APPLICATION MARKET BY CHANNEL INTEGRATION
TABLE 020. MOBILE APPLICATIONS MARKET OVERVIEW (2016-2028)
TABLE 021. WEB APPLICATIONS MARKET OVERVIEW (2016-2028)
TABLE 022. SOCIAL MEDIA MARKET OVERVIEW (2016-2028)
TABLE 023. OTHERS MARKET OVERVIEW (2016-2028)
TABLE 024. NORTH AMERICA VOICE ASSISTANT APPLICATION MARKET, BY TYPE (2016-2028)
TABLE 025. NORTH AMERICA VOICE ASSISTANT APPLICATION MARKET, BY APPLICATION (2016-2028)
TABLE 026. NORTH AMERICA VOICE ASSISTANT APPLICATION MARKET, BY ORGANIZATION SIZE (2016-2028)
TABLE 027. NORTH AMERICA VOICE ASSISTANT APPLICATION MARKET, BY CHANNEL INTEGRATION (2016-2028)
TABLE 028. N VOICE ASSISTANT APPLICATION MARKET, BY COUNTRY (2016-2028)
TABLE 029. EUROPE VOICE ASSISTANT APPLICATION MARKET, BY TYPE (2016-2028)
TABLE 030. EUROPE VOICE ASSISTANT APPLICATION MARKET, BY APPLICATION (2016-2028)
TABLE 031. EUROPE VOICE ASSISTANT APPLICATION MARKET, BY ORGANIZATION SIZE (2016-2028)
TABLE 032. EUROPE VOICE ASSISTANT APPLICATION MARKET, BY CHANNEL INTEGRATION (2016-2028)
TABLE 033. VOICE ASSISTANT APPLICATION MARKET, BY COUNTRY (2016-2028)
TABLE 034. ASIA PACIFIC VOICE ASSISTANT APPLICATION MARKET, BY TYPE (2016-2028)
TABLE 035. ASIA PACIFIC VOICE ASSISTANT APPLICATION MARKET, BY APPLICATION (2016-2028)
TABLE 036. ASIA PACIFIC VOICE ASSISTANT APPLICATION MARKET, BY ORGANIZATION SIZE (2016-2028)
TABLE 037. ASIA PACIFIC VOICE ASSISTANT APPLICATION MARKET, BY CHANNEL INTEGRATION (2016-2028)
TABLE 038. VOICE ASSISTANT APPLICATION MARKET, BY COUNTRY (2016-2028)
TABLE 039. MIDDLE EAST & AFRICA VOICE ASSISTANT APPLICATION MARKET, BY TYPE (2016-2028)
TABLE 040. MIDDLE EAST & AFRICA VOICE ASSISTANT APPLICATION MARKET, BY APPLICATION (2016-2028)
TABLE 041. MIDDLE EAST & AFRICA VOICE ASSISTANT APPLICATION MARKET, BY ORGANIZATION SIZE (2016-2028)
TABLE 042. MIDDLE EAST & AFRICA VOICE ASSISTANT APPLICATION MARKET, BY CHANNEL INTEGRATION (2016-2028)
TABLE 043. VOICE ASSISTANT APPLICATION MARKET, BY COUNTRY (2016-2028)
TABLE 044. SOUTH AMERICA VOICE ASSISTANT APPLICATION MARKET, BY TYPE (2016-2028)
TABLE 045. SOUTH AMERICA VOICE ASSISTANT APPLICATION MARKET, BY APPLICATION (2016-2028)
TABLE 046. SOUTH AMERICA VOICE ASSISTANT APPLICATION MARKET, BY ORGANIZATION SIZE (2016-2028)
TABLE 047. SOUTH AMERICA VOICE ASSISTANT APPLICATION MARKET, BY CHANNEL INTEGRATION (2016-2028)
TABLE 048. VOICE ASSISTANT APPLICATION MARKET, BY COUNTRY (2016-2028)
TABLE 049. AIVO: SNAPSHOT
TABLE 050. AIVO: BUSINESS PERFORMANCE
TABLE 051. AIVO: PRODUCT PORTFOLIO
TABLE 052. AIVO: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 052. AWS: SNAPSHOT
TABLE 053. AWS: BUSINESS PERFORMANCE
TABLE 054. AWS: PRODUCT PORTFOLIO
TABLE 055. AWS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 055. APPLE: SNAPSHOT
TABLE 056. APPLE: BUSINESS PERFORMANCE
TABLE 057. APPLE: PRODUCT PORTFOLIO
TABLE 058. APPLE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 058. AVAAMO: SNAPSHOT
TABLE 059. AVAAMO: BUSINESS PERFORMANCE
TABLE 060. AVAAMO: PRODUCT PORTFOLIO
TABLE 061. AVAAMO: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 061. AVAYA: SNAPSHOT
TABLE 062. AVAYA: BUSINESS PERFORMANCE
TABLE 063. AVAYA: PRODUCT PORTFOLIO
TABLE 064. AVAYA: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 064. BAIDU: SNAPSHOT
TABLE 065. BAIDU: BUSINESS PERFORMANCE
TABLE 066. BAIDU: PRODUCT PORTFOLIO
TABLE 067. BAIDU: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 067. CISCO: SNAPSHOT
TABLE 068. CISCO: BUSINESS PERFORMANCE
TABLE 069. CISCO: PRODUCT PORTFOLIO
TABLE 070. CISCO: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 070. CLINC: SNAPSHOT
TABLE 071. CLINC: BUSINESS PERFORMANCE
TABLE 072. CLINC: PRODUCT PORTFOLIO
TABLE 073. CLINC: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 073. CREATIVE VIRTUAL: SNAPSHOT
TABLE 074. CREATIVE VIRTUAL: BUSINESS PERFORMANCE
TABLE 075. CREATIVE VIRTUAL: PRODUCT PORTFOLIO
TABLE 076. CREATIVE VIRTUAL: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 076. GOOGLE: SNAPSHOT
TABLE 077. GOOGLE: BUSINESS PERFORMANCE
TABLE 078. GOOGLE: PRODUCT PORTFOLIO
TABLE 079. GOOGLE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 079. INBENTA: SNAPSHOT
TABLE 080. INBENTA: BUSINESS PERFORMANCE
TABLE 081. INBENTA: PRODUCT PORTFOLIO
TABLE 082. INBENTA: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 082. IBM: SNAPSHOT
TABLE 083. IBM: BUSINESS PERFORMANCE
TABLE 084. IBM: PRODUCT PORTFOLIO
TABLE 085. IBM: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 085. HAPTIK: SNAPSHOT
TABLE 086. HAPTIK: BUSINESS PERFORMANCE
TABLE 087. HAPTIK: PRODUCT PORTFOLIO
TABLE 088. HAPTIK: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 088. KATA.AI: SNAPSHOT
TABLE 089. KATA.AI: BUSINESS PERFORMANCE
TABLE 090. KATA.AI: PRODUCT PORTFOLIO
TABLE 091. KATA.AI: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 091. MICROSOFT: SNAPSHOT
TABLE 092. MICROSOFT: BUSINESS PERFORMANCE
TABLE 093. MICROSOFT: PRODUCT PORTFOLIO
TABLE 094. MICROSOFT: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 094. MINDSAY: SNAPSHOT
TABLE 095. MINDSAY: BUSINESS PERFORMANCE
TABLE 096. MINDSAY: PRODUCT PORTFOLIO
TABLE 097. MINDSAY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 097. ORACLE: SNAPSHOT
TABLE 098. ORACLE: BUSINESS PERFORMANCE
TABLE 099. ORACLE: PRODUCT PORTFOLIO
TABLE 100. ORACLE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 100. RASA: SNAPSHOT
TABLE 101. RASA: BUSINESS PERFORMANCE
TABLE 102. RASA: PRODUCT PORTFOLIO
TABLE 103. RASA: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 103. SAMSUNG: SNAPSHOT
TABLE 104. SAMSUNG: BUSINESS PERFORMANCE
TABLE 105. SAMSUNG: PRODUCT PORTFOLIO
TABLE 106. SAMSUNG: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 106. SAP: SNAPSHOT
TABLE 107. SAP: BUSINESS PERFORMANCE
TABLE 108. SAP: PRODUCT PORTFOLIO
TABLE 109. SAP: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 109. SLANG LABS: SNAPSHOT
TABLE 110. SLANG LABS: BUSINESS PERFORMANCE
TABLE 111. SLANG LABS: PRODUCT PORTFOLIO
TABLE 112. SLANG LABS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 112. SOUNDHOUND: SNAPSHOT
TABLE 113. SOUNDHOUND: BUSINESS PERFORMANCE
TABLE 114. SOUNDHOUND: PRODUCT PORTFOLIO
TABLE 115. SOUNDHOUND: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 115. VERBIO: SNAPSHOT
TABLE 116. VERBIO: BUSINESS PERFORMANCE
TABLE 117. VERBIO: PRODUCT PORTFOLIO
TABLE 118. VERBIO: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 118. VERINT SYSTEMS: SNAPSHOT
TABLE 119. VERINT SYSTEMS: BUSINESS PERFORMANCE
TABLE 120. VERINT SYSTEMS: PRODUCT PORTFOLIO
TABLE 121. VERINT SYSTEMS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 121. ZAION: SNAPSHOT
TABLE 122. ZAION: BUSINESS PERFORMANCE
TABLE 123. ZAION: PRODUCT PORTFOLIO
TABLE 124. ZAION: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 124. OTHER MAJOR PLAYERS: SNAPSHOT
TABLE 125. OTHER MAJOR PLAYERS: BUSINESS PERFORMANCE
TABLE 126. OTHER MAJOR PLAYERS: PRODUCT PORTFOLIO
TABLE 127. OTHER MAJOR PLAYERS: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 001. YEARS CONSIDERED FOR ANALYSIS
FIGURE 002. SCOPE OF THE STUDY
FIGURE 003. VOICE ASSISTANT APPLICATION MARKET OVERVIEW BY REGIONS
FIGURE 004. PORTER'S FIVE FORCES ANALYSIS
FIGURE 005. BARGAINING POWER OF SUPPLIERS
FIGURE 006. COMPETITIVE RIVALRYFIGURE 007. THREAT OF NEW ENTRANTS
FIGURE 008. THREAT OF SUBSTITUTES
FIGURE 009. VALUE CHAIN ANALYSIS
FIGURE 010. PESTLE ANALYSIS
FIGURE 011. VOICE ASSISTANT APPLICATION MARKET OVERVIEW BY TYPE
FIGURE 012. ON-PREMISES MARKET OVERVIEW (2016-2028)
FIGURE 013. CLOUD MARKET OVERVIEW (2016-2028)
FIGURE 014. VOICE ASSISTANT APPLICATION MARKET OVERVIEW BY APPLICATION
FIGURE 015. SMART RETAIL & ECOMMERCE MARKET OVERVIEW (2016-2028)
FIGURE 016. SMART BANKING MARKET OVERVIEW (2016-2028)
FIGURE 017. CONNECTED HEALTHCARE MARKET OVERVIEW (2016-2028)
FIGURE 018. SMART TRANSPORTATION MARKET OVERVIEW (2016-2028)
FIGURE 019. OTHERS MARKET OVERVIEW (2016-2028)
FIGURE 020. VOICE ASSISTANT APPLICATION MARKET OVERVIEW BY ORGANIZATION SIZE
FIGURE 021. SMALL & MEDIUM MARKET OVERVIEW (2016-2028)
FIGURE 022. LARGE MARKET OVERVIEW (2016-2028)
FIGURE 023. VOICE ASSISTANT APPLICATION MARKET OVERVIEW BY CHANNEL INTEGRATION
FIGURE 024. MOBILE APPLICATIONS MARKET OVERVIEW (2016-2028)
FIGURE 025. WEB APPLICATIONS MARKET OVERVIEW (2016-2028)
FIGURE 026. SOCIAL MEDIA MARKET OVERVIEW (2016-2028)
FIGURE 027. OTHERS MARKET OVERVIEW (2016-2028)
FIGURE 028. NORTH AMERICA VOICE ASSISTANT APPLICATION MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 029. EUROPE VOICE ASSISTANT APPLICATION MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 030. ASIA PACIFIC VOICE ASSISTANT APPLICATION MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 031. MIDDLE EAST & AFRICA VOICE ASSISTANT APPLICATION MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 032. SOUTH AMERICA VOICE ASSISTANT APPLICATION MARKET OVERVIEW BY COUNTRY (2016-2028)

Frequently Asked Questions :

What would be the forecast period in the Voice Assistant Application Market research report?

The forecast period in the Voice Assistant Application Market research report is 2022-2028.

Who are the key players in Voice Assistant Application Market?

Aivo (Argentina), AWS (US), Apple(US), Avaamo(US), Avaya (US), Baidu (China), Cisco (US), Clinc (US), Creative Virtual (UK), Google (US), Inbenta (US), IBM (US), Haptik (India), Kata.ai (Indonesia), Microsoft (US), Mindsay (US), Oracle (US), Rasa (US), Samsung (South Korea), SAP (Germany), Slang Labs (India), SoundHound (US), Verbio (Spain), Verint Systems (US), Zaion (France), and Other Major Players.

What are the segments of Voice Assistant Application Market?

Voice Assistant Application Market is segmented into Type, Application, Organization Size, Channel Integration and region. By Type, the market is categorized into On-premises, Cloud. By Application, the market is categorized into Smart Retail and eCommerce, Smart Banking, Connected Healthcare, Smart Transportation, Others. By Organization Size the market is categorized into Small & Medium, Large. By Channel Integration, the market is categorized into Mobile Applications, Web Applications, Social Media, Others. By region, it is analysed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Voice Assistant Application Market?

Voice assistants are digital assistants that use voice recognition, speech synthesis, language processing algorithms, and natural language processing to listen to distinct voice commands and provide relevant information or perform specified functions requested by the user

How big is Voice Assistant Application Market?

Global Voice Assistant Application Market was valued at USD 2.04 Billion in 2021 and is expected to reach USD 11.22 Billion by the year 2028, at a CAGR of 27.58%.