Voice Assistant Application Market size to grow by USD 10,334.37 million from 2022 to 2027; Alphabet Inc. and Amazon.com Inc. emerge as Key Contributors to growth - Technavio

NEW YORK, May 30, 2023 /PRNewswire/ -- The latest report on voice assistant application market, from 2022 to 2027 estimates to register an incremental growth of by USD10,334.37 million, at a CAGR of 30.4% during the forecast period. The market is fragmented due to the presence of diversified international and regional vendors. One of the major factors driving the global voice assistant application market growth is digital transformation. Online learning transforms traditional educational processes through the implementation of advanced technologies such as IoT, cloud computing, Big Data analytics, and augmented reality. OTT services help users to view online videos at home through laptops/desktops or TV screens, using different devices, and most such device providers offer inbuilt voice assistant applications. Hence, such developments help voice assistant application vendors to integrate the horizontal and vertical structures of the organization with advances in IT, which will drive market growth during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request sample report 

Voice Assistant Application Market 2023-2027: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The soft skills training market report covers the following areas:

• Voice Assistant Application Market 2023-2027 Size
• Voice Assistant Application Market 2023-2027 Trends
• Voice Assistant Application Market 2023-2027 Industry Analysis

Voice Assistant Application Market 2023-2027: Vendor Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Alphabet Inc., 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, Salesforce.com Inc., Samsung Electronics Co. Ltd., SAP SE, SoundHound Inc., Verbio Technologies SL, Voiceflow Inc., Xiaomi Communications Co. Ltd., and Baidu Inc. are among some of the major market participants.

Vendor Offerings

• Alphabet Inc. - The company offers voice assistant application called Google Assistant for setting up alarms, schedule management, controlling smart home offline, and navigating through Google search.
• Amazon.com Inc. - The company offers cloud based voice assistant application called Alexa for controlling and navigating through third party connected devices.
• Apple Inc. - The company offers cloud based voice assistant application called Siri for translating, alarm, location finder, and weather reports.

What`s New for 2023?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial
• Customization options available as per your business needs
• Access to 17000+ research report subscriptions, buy now!

Voice Assistant Application Market - Market Dynamics

Trends

• Growing demand for smart homes and the development of smart cities is an emerging voice assistant application market trend that is expected to impact the market growth positively in the forecast period.
• In India, Godrej Interio of Godrej Industries Ltd. (Godrej) is developing connected homes.
• Amazon Alexa, an intelligent personal assistant developed by Amazon, helps set up voice-enabled control of smart home devices.
• Furthermore, the smart home concept has the highest penetration in North America and Europe, with developing economies in APAC also adopting the concept.
• Hence, such factors are expected to further support market growth during the forecast period.

Challenges

• A major challenge to the global voice assistant application market growth is data privacy and security concerns. 
• Some countries have restricted a few areas of voice assistant applications, which include vehicle and infrastructure communication, due to security breaches.Cybersecurity was concentrated on a limited number of connected devices in the earlier days.
• But owing to the IoT revolution, there will be a large-scale combination of both physical and virtual worlds during the forecast period.
• Network security in high-security zones in various countries, is assumed to be threatening for national security, as these network areas may be exposed to terrorist attacks.
• Hence, such challenges impede market growth during the forecast period.

For more details understanding of Market Dynamics download Sample reports

Voice Assistant Application Market 2023-2027: Segmentation

Voice Assistant Application Market is segmented as below:

• Application 
• Individual Users
• SMEs
• Large Enterprises
• Deployment 
• Cloud
• On-premise
• Geography 
• North America
• Europe
• APAC
• Middle East And Africa
• South America

The market share growth by the individual users' segment will be significant for overall market growth during the forecast period. The segment is expected to grow fastest during the forecast period, mainly due to the increasing adoption of smartphones and smart connected devices by individual users. There is an increased use of digital content platforms such as over-the-top (OTT), increased adoption of online gaming by individuals, and use of voice assistant applications in emerging markets such as India and China were the significant segments during this period. Hence, such factors drive segment growth during the forecast period.

For insights on global, regional, and country-level parameters with growth opportunities, historic (2017 to 2021) & forecast (2023-2027) – Download a Sample Report

Voice Assistant Application Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist voice assistant application market growth during the next five years
• Estimation of the voice assistant application market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the voice assistant application market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of voice assistant application market, vendors

Gain instant access to 17,000+ market research reports. 

Technavio's SUBSCRIPTION platform 

Related Reports:
The voice speech recognition software market size is estimated to grow at a CAGR of 13.72% between 2022 and 2027. The market size is forecast to increase by USD 14,859.93 million. This voice speech recognition software market report extensively covers market segmentation by technology (voice recognition and speech recognition), end-user (healthcare, consumer products, automotive, enterprise contact centers, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The increasing adoption of technologically advanced mobile devices is notably driving the market growth.

The global voice evacuation systems market size is estimated to grow by USD 938.28 million between 2022 and 2027 at a CAGR of 16.77%. This report extensively covers market segmentation by end-user (commercial sector, industrial sector, and residential sector), type (voice sounders, loudspeakers, emergency microphones, and networked and wireless system), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The growth of the real estate and construction industries is notably driving the voice evacuation systems market growth. 

Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Deployment
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global voice assistant application market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on global voice assistant application market 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 Deployment Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Deployment Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Individual users - Market size and forecast 2022-2027
• Exhibit 34: Chart on Individual users - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Individual users - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Individual users - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Individual users - Year-over-year growth 2022-2027 (%)

• 6.4 SMEs - Market size and forecast 2022-2027
• Exhibit 38: Chart on SMEs - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on SMEs - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on SMEs - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on SMEs - Year-over-year growth 2022-2027 (%)

• 6.5 Large enterprises - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Large enterprises - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Large enterprises - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Large enterprises - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Large enterprises - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Application 
• Exhibit 46: Market opportunity by Application ($ million)
• Exhibit 47: Data Table on Market opportunity by Application ($ million)

7 Market Segmentation by Deployment

• 7.1 Market segments 
• Exhibit 48: Chart on Deployment - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Deployment - Market share 2022-2027 (%)

• 7.2 Comparison by Deployment 
• Exhibit 50: Chart on Comparison by Deployment
• Exhibit 51: Data Table on Comparison by Deployment

• 7.3 Cloud - Market size and forecast 2022-2027
• Exhibit 52: Chart on Cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Cloud - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Cloud - Year-over-year growth 2022-2027 (%)

• 7.4 On-premise - Market size and forecast 2022-2027
• Exhibit 56: Chart on On-premise - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on On-premise - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on On-premise - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on On-premise - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Deployment 
• Exhibit 60: Market opportunity by Deployment ($ million)
• Exhibit 61: Data Table on Market opportunity by Deployment ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 91: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 UK - Market size and forecast 2022-2027
• Exhibit 95: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.11 Canada - Market size and forecast 2022-2027
• Exhibit 99: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.12 Germany - Market size and forecast 2022-2027
• Exhibit 103: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ million)
• Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 Alphabet Inc. 
• Exhibit 115: Alphabet Inc. - Overview
• Exhibit 116: Alphabet Inc. - Business segments
• Exhibit 117: Alphabet Inc. - Key news
• Exhibit 118: Alphabet Inc. - Key offerings
• Exhibit 119: Alphabet Inc. - Segment focus

• 12.4 Amazon.com Inc. 
• Exhibit 120: Amazon.com Inc. - Overview
• Exhibit 121: Amazon.com Inc. - Business segments
• Exhibit 122: Amazon.com Inc. - Key news
• Exhibit 123: Amazon.com Inc. - Key offerings
• Exhibit 124: Amazon.com Inc. - Segment focus

• 12.5 Apple Inc. 
• Exhibit 125: Apple Inc. - Overview
• Exhibit 126: Apple Inc. - Business segments
• Exhibit 127: Apple Inc. - Key news
• Exhibit 128: Apple Inc. - Key offerings
• Exhibit 129: Apple Inc. - Segment focus

• 12.6 Artificial Solutions International AB
• Exhibit 130: Artificial Solutions International AB - Overview
• Exhibit 131: Artificial Solutions International AB - Product / Service
• Exhibit 132: Artificial Solutions International AB - Key offerings

• 12.7 Baidu Inc. 
• Exhibit 133: Baidu Inc. - Overview
• Exhibit 134: Baidu Inc. - Business segments
• Exhibit 135: Baidu Inc. - Key offerings
• Exhibit 136: Baidu Inc. - Segment focus

• 12.8 Huawei Technologies Co. Ltd. 
• Exhibit 137: Huawei Technologies Co. Ltd. - Overview
• Exhibit 138: Huawei Technologies Co. Ltd. - Business segments
• Exhibit 139: Huawei Technologies Co. Ltd. - Key news
• Exhibit 140: Huawei Technologies Co. Ltd. - Key offerings
• Exhibit 141: Huawei Technologies Co. Ltd. - Segment focus

• 12.9 International Business Machines Corp.
• Exhibit 142: International Business Machines Corp. - Overview
• Exhibit 143: International Business Machines Corp. - Business segments
• Exhibit 144: International Business Machines Corp. - Key news
• Exhibit 145: International Business Machines Corp. - Key offerings
• Exhibit 146: International Business Machines Corp. - Segment focus

• 12.10 Microsoft Corp. 
• Exhibit 147: Microsoft Corp. - Overview
• Exhibit 148: Microsoft Corp. - Business segments
• Exhibit 149: Microsoft Corp. - Key news
• Exhibit 150: Microsoft Corp. - Key offerings
• Exhibit 151: Microsoft Corp. - Segment focus

• 12.11 Nuance Communications Inc. 
• Exhibit 152: Nuance Communications Inc. - Overview
• Exhibit 153: Nuance Communications Inc. - Business segments
• Exhibit 154: Nuance Communications Inc. - Key offerings
• Exhibit 155: Nuance Communications Inc. - Segment focus

• 12.12 Oracle Corp. 
• Exhibit 156: Oracle Corp. - Overview
• Exhibit 157: Oracle Corp. - Business segments
• Exhibit 158: Oracle Corp. - Key news
• Exhibit 159: Oracle Corp. - Key offerings
• Exhibit 160: Oracle Corp. - Segment focus

• 12.13 Orbita Inc. 
• Exhibit 161: Orbita Inc. - Overview
• Exhibit 162: Orbita Inc. - Product / Service
• Exhibit 163: Orbita Inc. - Key offerings

• 12.14 Robin Labs 
• Exhibit 164: Robin Labs - Overview
• Exhibit 165: Robin Labs - Product / Service
• Exhibit 166: Robin Labs - Key offerings

• 12.15 RoboBot Studio 
• Exhibit 167: RoboBot Studio - Overview
• Exhibit 168: RoboBot Studio - Product / Service
• Exhibit 169: RoboBot Studio - Key offerings

• 12.16 Salesforce.com Inc. 
• Exhibit 170: Salesforce.com Inc. - Overview
• Exhibit 171: Salesforce.com Inc. - Product / Service
• Exhibit 172: Salesforce.com Inc. - Key news
• Exhibit 173: Salesforce.com Inc. - Key offerings

• 12.17 Samsung Electronics Co. Ltd. 
• Exhibit 174: Samsung Electronics Co. Ltd. - Overview
• Exhibit 175: Samsung Electronics Co. Ltd. - Business segments
• Exhibit 176: Samsung Electronics Co. Ltd. - Key news
• Exhibit 177: Samsung Electronics Co. Ltd. - Key offerings
• Exhibit 178: Samsung Electronics Co. Ltd. - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 179: Inclusions checklist
• Exhibit 180: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 181: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 182: Research methodology
• Exhibit 183: Validation techniques employed for market sizing
• Exhibit 184: Information sources

• 13.5 List of abbreviations 
• Exhibit 185: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED