Authored By: Sarah
11 Jul 2024

 Voice User Interface Market Size to grow by USD 50731.16 million between 2024-2028

According to a research report “ Voice User Interface Market” by Application (Smart speakers, Interactive voice response, Voice controlled devices, Smart phones and tablets, Others ) Type (Solution, Service ) Geography (North America, APAC, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 50731.16 million, at a CAGR of  23.39% during the forecast period. The voice user interface market is experiencing significant expansion in sectors including Internet services, telecommunications, BFSI, healthcare, and media and entertainment. In telecommunications, the rollout of 4G and 5G technologies is enabling faster Internet connectivity, leading users to favor advanced Internet services such as high-speed broadband and VoIP on cell phones. These innovations offer benefits like text messaging, free calling, video conferencing, and TV on demand via voice assistants.

Browse market data tables, figures, and in-depth TOC on “Voice User Interface Market” by Application (Smart speakers, Interactive voice response, Voice controlled devices, Smart phones and tablets, Others ) Type (Solution, Service ) Geography (North America, APAC, Europe, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample

 

By Application, the Smart speakers segment is projected to dominate the market size in 2024

In the global voice user interface market of 2022, the solution segment held a significant market share, encompassing advanced speech recognition systems like Siri, Alexa, and Google Assistant. This segment's expansion is primarily fueled by the increasing market penetration of connected devices and digital transformation initiatives. Voice user interfaces empower businesses and individuals by enabling multitasking capabilities, allowing users to manage various functions without distraction, such as adjusting a car's sound, temperature, and lighting while driving.

By Type, Solution  segment is expected to hold the largest market size for the year 2024

In the burgeoning Voice User Interface Market, smart speakers represent a significant segment. Equipped with wireless connectivity via Bluetooth, Wi-Fi, or other wireless protocols, these devices seamlessly integrate with smart homes and other digital platforms, such as smartphones and TVs. Powered by advanced artificial intelligence and virtual assistants, they offer a multitude of business-enhancing features. These include music streaming, food ordering, weather updates, news, and smart home appliance control. By delivering a superior user experience, smart speakers distinguish themselves from competing technological solutions.

North America is forecasted to hold the largest market size by region in 2024

In the North American market, businesses in sectors such as automotive, retail, healthcare, media and entertainment, hospitality, and BFSI are leveraging voice user interfaces (VUIs) to enhance their competitive edge and streamline operations. Major contributors to the region's VUI market revenue include the US and Canada. Notably, individual consumers are also embracing VUIs for home use, with vendors like Amazon leading the charge through offerings such as Amazon Echo and Alexa devices.

The Voice User Interface Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Advanced Voice Recognition Systems Inc.
  • Alan AI Inc.
  • Alphabet Inc.
  • Amazon.com Inc.
  • Apple Inc.
  • Baidu Inc.
  • CastleOS Software LLC
  • International Business Machines Corp.
  • Microsoft Corp.
  • Picovoice Inc.
  • Samsung Electronics Co. Ltd.
  • Sonos Inc.
  • SoundHound AI Inc.
  • Speechly
  • Whatfix Pvt. Ltd.
  • Zaion SAS
.

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Research Analysis Overview

In the rapidly evolving technology landscape, Voice User Interface (VUI) market continues to gain significant traction. Conversations between users and virtual assistants through voice touchpoints have become increasingly common in various sectors, including Healthcare, Automotive Infotainment, and Services Segment. Voice analytics and voice biometrics play a crucial role in managing alarm notifications, streaming music, and voice commerce on smart speakers and smart devices. Companies are investing heavily in infrastructure modernization to enhance user experience through voice interaction, voice control, and voice commands. Voice commerce is expected to grow exponentially, with voice analytics and voice biometrics ensuring secure transactions. Virtual assistants like Alexa store and Dialog management systems are revolutionizing the way we engage with technology. Automatic speech recognition technology is at the heart of VUI, enabling seamless voice interaction with smartphones, smart speakers, and other smart devices. Voice control and voice commands are transforming the user experience in various industries, making technology more accessible and convenient for users. In conclusion, the Voice User Interface market is poised for exponential growth, offering numerous opportunities for innovation and improvement in user experience.

Market Research Overview

The Voice User Interface (VUI) market is experiencing significant growth in various sectors, including Consumer Electronics, Healthcare, Automotive, and Services Segment. VUIs, such as voice assistants, are designed to understand and respond to user commands, behaviors, and conversations. Key components of VUI include slot, intent, variation, and dialog management. Voice interfaces are integrated into smart speakers, smartphones, and other smart devices, enabling users to hear music, manage alarms, and stream content with voice commands. Voice commerce is also gaining popularity, allowing users to make purchases using voice interactions. Competitor analysis is crucial in the VUI market, with players like Google Assistant, Amazon Alexa, and Apple Siri leading the way. Infrastructure modernization and speech recognition technologies are essential for improving user experience and voice interaction. Biometric security and automotive infotainment systems are also adopting VUI technologies, enhancing user convenience and safety. Voice analytics and voice biometrics are additional features that provide valuable insights and improve user experience. VUI market trends include the integration of touchpoints and channels, enabling seamless user experiences across various devices. User research and managing user expectations are essential for designing effective VUIs. Overall, the VUI market is transforming the way we interact with technology, offering endless possibilities for innovation.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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