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Global Statistics Representing Voice Assistant Application Market Scenario

Technology, with its inconceivable nature, never fails to set new benchmarks with avant-garde inventions as it evolves consistently. The state-of-the-art technology complies with the contemporary realm of business and succeeds in tracing the pinnacle of enhanced user experience.  Voice assistants are digital assistants that utilize speech synthesis, voice recognition, and natural language processing to render speech-based solutions across various applications. It is primarily applied in computing devices and vehicles. Advancements in AI technology and the increasing demand for devices such as smartphones integrated with voice assistants are expected to be the significant factors encouraging the growth of voice assistant application market throughout the forecast period, 2019–2026. For instance, in April 2019, Facebook announced it is working on an AI-based digital voice assistant to employ it across its AR/VR products, including Portal, Oculus, and future products. Furthermore, in January 2019, Google announced that around 400 million devices come with Google Assistant, including Google Home, smartphones, tablets, TVs, watches, iPhones, among others.

The global voice assistant application market is expected to grow at a CAGR of 29.9% during the forecast period, 2019–2026.

Intended Audience

  • Voice Assistant Application Vendors
  • Robotics Service Providers
  • Technology Savvy Investors
  • System Integrators
  • Potential Investors
  • Research Institutes

Segmental Insights

The global voice assistant application market is segmented by component, deployment mode, technology, application, and region.

Based on application, the smart devices segment ascribes to influence the voice assistant application market. Innovations such as smart homes that are increasingly becoming platforms for a suite of digital devices and applications are driven by advances such as smart speakers, voice recognition, and others. For instance, in January 2019, Universal Electronics introduced Nevo Butler – a cloud-based AI platform for connected homes. This platform is an end-to-end voice-enabled hub built-in with white label assistant integrating IoT and smart devices within the device environment, allowing users to control various applications with their voice. Such developments in voice technology boosts the growth of global voice assistant application market in upcoming years.

On the basis of technology, the text-to-speech recognition segment is expected to hold a substantial share in the voice assistant market. Recently, Apple Inc., in its annual developer conference – WWDC 2019, introduced the Neural TTS (text to speech) technology in its new iOS 13, thereby improving Siri’s voice to make it sound more natural. This improved version of Siri is expected to roll out across a range of Apple devices, including iPhone, iPad, HomePod, CarPlay, and others. Speech recognition and voice recognition technologies integrated in numerous devices are enabling the text-to-speech segment to thrive in the market.  

Regional Insights

Geographically, the global voice assistant application market is segmented into North America, Europe, Asia-Pacific, and Latin America and the Middle East & Africa (LAMEA).

North America is expected to witness dynamic growth in the voice assistant application market during the forecast period (2019–2026) as it is home to tech giants such as Google, Amazon Web Services (AWS), IBM, Apple, and Microsoft. For instance, in March 2018, IBM launched Watson Assistant, a white label cloud service, that permits developers to incorporate AI-based virtual assistant into their products. It includes Watson Assitant for Automotive, Watson Assistant for Industry, and Watson Assistant for Hospitality. Thus, integration of voice assistant application in an enterprise application is projected to drive the demand for the market in the region.

Europe is expected to witness substantial growth in the voice assistant application market due to the rapid adoption of newflanged technological approaches among retailers over brick and mortar. For instance, in October 2018, ASOS, an online fashion brand, introduced voice shopping service called Enki on Google Assistant to assist customers in navigating through its range of products. It can be accessed through Google Assistant or Google Home using the voice command “Hey Google, talk to ASOS.”

Asia-Pacific is expected to witness significant growth in the voice assistant application market due to growing technological advancements such as automation and smart mobility in the automotive industry. For instance, in June 2019, China's Alibaba Group Holding Ltd announced its partnership with Audi, Renault, and Honda to instigate smart mobility initiative in China. This partnership aims to integrate Tmall Genie Auto technology, an AI solution developed by Alibaba A.I. Labs, into vehicles enabling customers to use voice technology for performing numerous tasks while driving.

LAMEA is projected to witness a considerable growth rate in the voice assistant application market with tech giants such as Apple, Google, and Amazon, among others penetrating the region by expanding their merchandise and business operations. For instance, in November 2018, Amazon launched the Alexa voice assistant and a range of Echo devices in Mexico. The company claimed that its virtual assistant would prevail in the Latin American market as pretty soon it will be able to speak in Mexican Spanish language, enabling residents to interact with Alexa in their native tongue.

Key Players

Some of the prominent players in the global voice assistant application market are IBM (U.S.), Google (U.S.), AWS (U.S.), Microsoft (U.S.), Apple (U.S.), Baidu (China), Nuance Communications (U.S.), Salesforce (U.S.), Verbio Technologies (Spain), Samsung (South Korea), Oracle (U.S.), SAS (U.S.), SAP (Germany), and Orbita (U.S.).

Voice Assistant Application Market Segmentation

By Component

  • Solutions
  • Services

By Deployment Mode

  • On-Premise
  • Cloud

By Technology

  • Speech Recognition
  • Text-to-Speech Recognition
  • Voice Recognition

By Application

  • Mobile Application
  • Web Application
  • Smart Devices
  • Others

Regions Covered

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • UK.
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific

  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia-Pacific

LAMEA

  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA


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