Voice Assistant Application Market size to grow by USD 10,334.37 million from 2022 to 2027; the increasing adoption of technologically advanced mobile devices to drive the market growth – Technavio

NEW YORK, June 20, 2023 /PRNewswire/ — The voice assistant application market is expected to grow by USD 10,334.37 million from 2022 to 2027, according to the latest research report from Technavio. The market is estimated to grow at a CAGR of 30.4 % during the forecast period. Discover Application Software industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report!

The voice assistant application market covers the following areas:

Voice Assistant Application Market Sizing

Voice Assistant Application Market Forecast

Voice Assistant Application Market Analysis

Vendor Landscape

The voice assistant application market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Vendor Offerings

• Amazon.com Inc. – The company offers a cloud-based voice assistant application called Alexa for controlling and navigating through third-party connected devices
• Apple Inc.- The company offers a cloud-based voice assistant application called Siri for translating alarms, location finders, and weather reports.
• International Business Machines Corp. – The company offers an AI voice assistant application called Celia for daily routines.

For the market’s vendor landscape highlights with a comprehensive list of vendors and their offerings – View Sample in a minutes

Voice assistant application market – Key Market Segmentation

This voice assistant application market report extensively covers market segmentation by application (individual users, SMEs, and large enterprises), deployment (cloud and on-premises), and geography (North America, Europe, APAC, Middle East and Africa, and South America). 

The market share growth by the individual user segment will be significant during the forecast period. The increasing adoption of smart appliances and connected home environment using devices such as smart speakers are another factor for the growth of the segment. This segment is expected to grow fastest during the forecast period due to the increasing adoption of smartphones and smart-connected devices by individual users.

Furthermore, the various factors in emerging markets such as increased adoption of online gaming by individuals, increased use of digital content platforms such as over-the-top (OTT), and use of voice assistant applications are expected to drive the growth of the segment during the forecast period.

View Sample Report in minutes of this report for more highlights into the market segments.

Voice assistant application market – Regional Market Outlook

North America is estimated to contribute 33% to the growth of the global market during the forecast period. The countries that contribute most to the voice assistant application market in the region are the United States and Canada. Automotive, retail, healthcare, media and entertainment, hospitality, and BFSI end-user sectors in the region are using voice assistant apps in their operations to obtain a competitive advantage in the market and improve operational performance.

The increasing adoption of vehicle-to-everything (V2X) communication systems and advanced technologies, such as 5G, and the growing production of autonomous vehicles are the key drivers for the growth of the voice assistant application market in the region.

For more key highlights on the regional market share of most of the above-mentioned countries.- View Sample Report

Companies Mentioned

• 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.
• Baidu Inc.

What’s New? 

• 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 - buy the report! 

Voice assistant application market – Market Dynamics

Key Driver

• Digital transformation is one of the key factors driving the global voice assistant application market growth.
• This is due to the adoption of new technologies such as high-speed broadband and the introduction of voice-over-internet protocol (VoIP) services on the cell phone.
• Furthermore, online learning is transforming traditional educational processes through the implementation of advanced technologies such as cloud computing, IoT, Big Data analytics, and augmented reality.
• Hence, these advanced developments help voice assistant application vendors to integrate the horizontal and vertical structures of the organization with new technologies, which will drive market growth during the forecast period.

Major Trend

• The Growing demand for smart homes and the development of smart cities is an emerging trend in the voice assistant application market growth.
• Many companies such as Microsoft, IBM, and Alphabet are aiding in the development of smart cities through innovative initiatives and solutions.
• For Instance, Godrej Interio of Godrej Industries Ltd. (Godrej) in India is developing connected homes.
• During the forecast period, there is expected to be an increase in the number of smart cities. Resultantly, it is anticipated that the installed smart devices in these smart cities will generate significant demand for voice assistant applications.
• Hence, such trends are anticipated to fuel the growth of the market during the forecast period.

Key Challenges

• One of the key challenges to the global voice assistant application market growth is data privacy and security concerns. 
• In the past, cybersecurity was concentrated on a limited number of connected devices.
• Many countries have assumed that network security in high-security zones is a threat to national security, as these network areas may be exposed to terrorist attacks.
• As a result, some nations have restricted a few areas of voice assistant applications, including vehicle and infrastructure communication, due to security breaches.
• Hence, such challenges may hinder the market growth during the forecast period.

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Table of Content

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

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