Voice Assistant Application Market to grow by USD 10334.37 Mn through 2023-2027
The global digital transformation, the increasing popularity of autonomous vehicles, and the increasing adoption of technologically advanced mobile devices are triggering the market demand for Voice Assistant Applications all over the world. As per the forecast The Voice Assistant Application Market size is estimated to exhibit growth at a CAGR of 30.4% between 2022 and 2027 followed by a revenue growth of USD 10,334.37 Mn.
This Voice Assistant Application market can be segmented by application (individual users, SMEs, and large enterprises), deployment (cloud and on-premise), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
Technavio has been monitoring the Global Voice Assistant Application Market's growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking.
Voice Assistant Application Market Drivers at a Glance
Voice Assistant Application Market: Digital Transformation to Drive Growth
Digital Transformation is the key factor driving the global voice assistant application market growth. The emergence of advanced Internet technologies such as high-speed broadband and the introduction of voice over Internet protocol (VoIP) services on smartphones has changed the user preference for Internet services and propelled the adoption of new technologies like voice assistant applications.
Moreover, online learning transforms traditional educational processes through the implementation of advanced technologies such as IoT, cloud computing, Big Data analytics, and augmented reality, where companies are integrating the horizontal and vertical structures of the organization with advanced IT. Hence paving the path for market advancement.
For instance, OTT services enable users to view online videos at home through laptops/desktops or TV come with an inbuilt Voice Assistant Application
Voice Assistant Application Market: Key Competitor
Leading companies in the market landscape come with a wide range of offerings and product innovations.An organization like Alphabet Inc. offers a voice assistant application called Google Assistant for setting up alarms, schedule management, controlling smart homes offline, and navigating through Google search.
Some of the prominent names worth mentioning are Amazon.com Inc., Apple Inc., Artificial Solutions International AB, Huawei Technologies Co. Ltd., International Business Machines Corp., Microsoft Corp., Nuance Communications Inc., Oracle Corp., Orbita Inc., Robin Labs, RoboBot Studio, etc. Our report includes qualitative and quantitative analyses of market leaders with a wider understanding of the business ecosystem. Download our sample report for more insights.
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