Voice User Interface Market to Reach $95.41 Billion, Globally, by 2030 at 21.5% CAGR: Allied Market Research

Surge in voice biometric security applications and rise in penetration of Internet of Things propel the growth of the global voice user interface market

News provided by

Allied Market Research

Aug 03, 2021, 09:20 ET

PORTLAND, Ore., Aug. 3, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Voice User Interface Market by Offering (Solution and Service), Application (Smart Speakers, Interactive Voice Response, Voice Controlled Devices, Smartphone's & Tablets, and Others), Industry Vertical (BFSI, Retail & E-commerce, Consumer Electronics, Automotive & Transportation, Healthcare & Life Sciences, Travel & Hospitality, and Government & Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global voice user interface industry generated $13.65 billion in 2020, and is estimated to garner $95.41 billion by 2030, portraying a CAGR of 21.5% from 2021 to 2030.

Prime determinants of growth

Surge in voice biometric security applications, rise in penetration of Internet of Things, and growth in demand for self-service applications propel the growth of the global voice user interface market. However, increase in concerns regarding data privacy from voice-enabled smart devices hinder the market growth. On the other hand, the advancement in AI technology presents new opportunities in the coming years.

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/12746

Impact of Covid-19 Voice User Interface Market-

The outbreak of covid-19 has increased the demand for voice assistant solutions to for upcoming uncertainties. In addition, the demand for voice-controlled device has also increased along with interactive voice response applications in residential, BFSI, and commercial sectors.
Moreover, the demand is expected to remain constant post pandemic as well.

Get detailed COVID-19 impact analysis on the Voice User Interface Market

The solution segment to maintain its leadership status during the forecast period

Based on offering, the solution segment accounted for nearly two-fifths of the global voice user interface market in 2020, and is projected to maintain its leadership status during the forecast period. This is due to various benefits of the voice user interface solutions, such as flexibility, multitasking, accessibility, and privacy. However, the service segment is expected to manifest the highest CAGR of 22.90% from 2021 to 2030. Voice user interface service is a specialized artificial intelligence technology solution that allows users to interact with computer-operated devices to provide hand-free access, information, and answers. This factor drives the growth of the segment.

The smart speakers segment to maintain its lead position by 2030

Based on application, the smart speakers segment held the largest market share in 2020, contributing to more than one-fourth of the global voice user interface market in 2020, and is estimated to maintain its lead position by 2030. Rise in the adoption of smart speakers in the residential industry, due to the offer of control over smart home application solution through voice recognition drives the growth of the segment. However, the smartphones and tablets segment is projected to witness the highest CAGR of 23.9 % from 2021 to 2030. The fact that voice user interface-based voice assistant solution is widely used in computer-operated applications for smartphones and tablets to offer flexible speech recognition solutions and hand-free interaction propel the segment growth.

For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/12746

North America to continue its dominance in terms of revenue by 2030

Based on region, North America accounted for the highest market share in 2020, holding more than one-third of the global voice user interface market, and is expected to continue its dominance in terms of revenue by 2030. This is owing to the availability of prime players such as Apple, Amazon, Google, and Facebook and availability of rapidly developing advanced voice assistant solutions. However, Asia-Pacific is expected to witness the fastest CAGR of 23.30% from 2021 to 2030. This is attributed to rise in awareness about cloud computing technology and artificial intelligence applications to enhance resource utilization and various benefit from the voice assistant services.

Leading market players

Baidu, Inc.
BioTrust ID B.V.
CastleOS Software, LLC
Facebook
Google
Microsoft Corporation
Advanced Voice Recognition Systems, Inc.
Agnitio S.L.
Apple, Inc.
Amazon, Inc.

Official Press Release: https://www.alliedmarketresearch.com/press-release/voice-user-interface-market.html

Similar Research Reports for Information, Communication and Technology:

AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter