The prevalence of sophisticated technology products like chatbots and smart speakers, is increasing in the retail, automotive, media and entertainment, and travel and hospitality sector. Over the previous few years, brands of consumer products have adopted intelligent virtual assistants. Furthermore, it is anticipated that steady progress and innovation with virtual assistant products designed for healthcare clients utilizing Natural Language Processing (NLP) and Artificial Intelligence will attract end users to improve customer experience, increasing the market growth. Such technological innovations is expected to drive the voice assistant application market.

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Organizations can improve certain features by leveraging alternative voice assistants, including reminders for meetings, front desk activities, and other custom services. They also generate reports showing trends in frequently asked questions and customer satisfaction level based on the response to these problems. This is primarily beneficial in enhancing reaction quality and achieving customer satisfaction. This is one of the primary drivers, accelerating the adoption of voice assistant application market.

In the voice assistant application market, which is anticipated to experience constant development in the near future, automotive is emerging as the fastest increasing sector. Automotive companies incorporate emerging technologies such as adaptive cruise control, automatic parking, ADAS systems, and lane support. Combining these characteristics with a virtual assistant not only offers the driver with personalized content, but also offers an intelligent driving experience that is linked and safer in terms of use. Several businesses are investing in the development of the sophisticated automotive voice assistant platforms to exploit the segment’s complete potential.

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The growing use of smart home technologies, such as smart home controllers and smart hubs has boosted the demand for smart and innovative kitchen appliances. Several manufacturers of smart kitchen appliance are partnering with many voice controlled assistance platform providers to integrate the voice assistance feature in their products. Voice assistants will offer more personalized experience for the users as they get better at distinguishing the voices. These appliances can be controlled with voice commands through inbuilt or external voice assistive devices. The continuous connectivity to smart appliances assists the consumers in handling and performing tasks remotely. With the increasing demand for smart kitchen appliances which includes dishwashers, refrigerators, microwave ovens and other appliances, the demand for voice assistant applications will also grow. The companies are offering smart kitchen appliances that are compatible with voice-controlled assistants such as Google Assistant and Alexa. This development is anticipated to have a positive impact on the overall growth of the voice assistant applications market.

Advancements in the industries are helping digital voice assistants become more useful for everyday use. Voice assistants are integrated into many products including Samsung’s Family Hub refrigerators. Google and Amazon announced that the assistants will not require the initial “wake” words to start a new conversation. Previously both the assistants depended on a wake word (Ok, Google or Alexa) to start a new conversation. Google is working to make its assistant capable of holding longer conversations, when the user asks multiple questions in a row, the users no longer has to say “Ok, Google” to give a command. Users can ask multiple questions at a time and the assistant will respond to all of the questions.

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 “Adoption of voice assistant application in smart homes and in gaming industry is increasing. Market players are using AI technology to improve the features of the application thus increasing the demand for these applications.”

The detailed research study provides qualitative and quantitative analysis of voice assistant application market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Key Findings of the Report:

  • Retailers are also increasingly indulging in marketing their offers and meeting their customer requirement by offering website assistance. Due to characteristics such as answering customer queries and problems in an efficient and cost-effective way, retail segment is expected to register enormous adoption of voice assistants.
  • Due to the increasing retail and consumer electronics industries in China, Asia Pacific is anticipated to grow at the highest CAGR over the forecast period. In addition, enhanced demand for voice assistants has been recorded to meet the requirements of growing population in banking and insurance sector.
  • Some of the key and emerging market players include Google, IBM, Microsoft, AWS, Apple, Nuance Communications, Baidu, Salesforce, Samsung, Verbio Technologies, Oracle, SAP, SAS, and Orbita amongst others

 

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Voice Assistant Application Market:

  • By Component
  • Solution
  • Services
  • By Deployment
  • By Application
    • Web Application
    • Mobile Application
    • Devices
  • By End User
    • BFSI
    • Healthcare
    • Retail and eCommerce
    • Media and Entertainment
    • Telecom and IT
    • Manufacturing and Automotive
    • Education
    • Travel and Hospitality
    • Others
  • By Geography
  • North America
  • S
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
  • Middle East and Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of Middle East & Africa
  • Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

 

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