Authored By: Sarah
08 Sep 2023

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. 

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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.

 

 

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerating at a CAGR of 30.4%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow by USD 10334.37 mn through 2023-2027.

     
  3. What is a key factor driving this market?
    Digital transformation will drive market growth over the forecast period.

     
  4. What are the key regions covered in this market research report?
    North America, Europe, APAC, Middle East and Africa, and South America are the key regions featured in this research report.

     
  5. Which is the leading geographic region for this market:
    33% growth will originate from North America.
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