Market Research Future Insights
According to MRFR analysis, the global Voice Assistant market is expected to register a CAGR of 31.2% from 2022 to 2030 and hold a value of over USD 30.72 Billion by 2030.
The voice assistant market refers to the market for devices and software applications that are designed to respond to voice commands and interact with users in a natural language. Examples of voice assistants include Amazon’s Alexa, Apple’s Siri, Google Assistant, and Microsoft’s Cortana.
COVID-19 has had a significant impact on the voice assistant market. With more people working from home, there has been an increased demand for smart home devices that can be controlled through voice commands. Additionally, the pandemic has accelerated the adoption of virtual assistants in healthcare, education, and other industries. The global voice assistant market is expected to grow significantly in the coming years.
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Key players
Some of the top key market players are
Report Scope
Parameter |
Details |
Revenue Forecast in 2030: |
USD 30.72 billion |
Growth Rate: |
CAGR of 31.2% from 2022 to 2030 |
Forecast Period: |
2022 -2030 |
Report Coverage |
Increased advancements in voice-based AI technologies Surging adoption of voice-enabled devices Enhanced focus on customer engagement |
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Market Segmentation
The Global Voice Assistant market has been segmented into end-user, applications, technology and product
Based on End-User: Individual users, big businesses, and small and medium businesses are all included in the voice assistant market segmentation based on the end user.
Based on Applications: The voice assistant market segment includes websites, call centres, and message bots depending on the application.
Based on Technology: Natural Language Processing as a technology, Recognition of Speech and Voice, and Text-to-Speech
Based on Product: Smart Speakers and Personal Assistants by Product
Regional Analysis
In terms of region, North America is currently the largest market for voice assistants, followed by Europe and Asia Pacific. This is due to the high adoption rate of smart home devices and the presence of major players in the region.
However, the Asia Pacific region is expected to experience the fastest growth in the voice assistant market during the forecast period. This is attributed to the growing popularity of smart speakers and voice-enabled devices in countries such as China, Japan, and South Korea.
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In summary, the voice assistant market has been significantly impacted by the COVID-19 pandemic, but is expected to continue growing in the coming years with North America currently the largest market but Asia Pacific expected to see the fastest growth.
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