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WiseGuyReports.Com Publish a New Market Research Report On –“ Voice Assistant Market Enabling Technologies, Applications, Standardization, Key Trends Forecasts 2023”.
Voice Assistant Industry 2019
Technology has changed the world in the last couple of decades. Smartphones are becoming a digital extension of the human body. The emergence of Voice Assistant in the smartphone has changed both the industry. Voice assistance feature truly makes the phone smart and as a result, now even an entry-level smartphone offers voice assistance features. Voice assistance features perform a variety of tasks. Voice assistance is a software which response to individual voice. The adaptation of machine learning and artificial intelligence in the voice assistants made it even smarter and efficient.
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Major Key Players Analysis
The prominent players in the global voice assistant market include brand names like Amazon, Inc. (U.S.), Apple, Inc. (U.S.), Google, Inc. (U.S.), Microsoft Corporation (U.S.), Orange S.A. (France), Samsung Group (South Korea), Next IT Corporation (U.K.) , Nuance Communications (U.S.), Creative Virtual Ltd. (U.S.), Nokia Networks (Finland) among others.
Voice assistants are extremely helpful for differently-abled people as it does not require any physical touch to operate a phone and a command is enough to perform any tasks. Messaging, calling, adding reminders, answering any queries, weather and many more are just one command away. The AI and ML are helping the voice assistance to recognize the owner’s voice. According to a report, the online shopping market will be greatly benefitted from the voice search in the near future. Experts are predicting that the transaction will cross four billion USD in the e-commerce industry. The voice assistants based smart home is expected to drive the industry.
The forecast suggests that the industry is expected to have a compound annual growth rate (CAGR) of 39.27% from 2019 to 2023. The Global Voice Assistant Market is anticipated to have a market value of 7.8 billion by the end of 2023.
Market Segmentation of the Industry
The global Voice Assistant market can be segmented on the basis of application, technology, end-user and region.
By application, the industry can be segmented into messenger bots, websites and contact centres. On the basis of technology, the market can be classified into Speech Recognition, Natural Language Processing (NLP), Speaker Dependent Systems, Speaker Independent Systems, Text-to-Speech Recognition and voice recognition. Based on end-users, the global market is classified as Large Enterprises, Individual Users and SMEs.
Geographical Market Segmentation of the Industry
The region-wise segmentation of Global Voice Assistant Market includes regions like the Middle East and Africa, North America, Latin America, Europe and the Asia Pacific.
Some of the focused countries are Germany, France, the Philippines, Indonesia, Turkey, Egypt, United Arab Emirates, Japan, Malaysia, Singapore, Italy, Brazil, Mexico, Spain, Russia, Poland, India, Thailand, Saudi Arabia, South Africa, China, Nigeria, the UK, the USA, Colombia and Vietnam.
North America region is leading the market in terms of market share due to the presence of most prominent players in the industry. The Indo Pacific region is anticipated to show a huge growth owing to a large digitally active population in countries like India, Japan, South Korea and China. The increasing number of the smartphone in the Indo Pacific region is the key force behind the market growth.
Current Happenings from the Industry
MICE is a voice assistant which getting more and more attention in the Balkans regions. Experts are predicting that it has the potential to beat the industry giants like Amazon’s Alexa and Apple’s Siri in the region. The voice assistant knows certain languages which were unexplored by all the existing assistances. MICE know languages like Serbian, Greek, Bulgarian and Albanian. This will help this assistant to grow and capture a good market share in the region.
Table of Contents – Major Key Points
1 Research Methodologies
2 Market Dynamics
3 Executive Summary
4 Market Factor Analysis
5 Global Voice Assistant Technology Market, By Technology
6 Global Voice Assistant Market, By Application
7 Global Voice Assistant Market, By End-User
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