Global Voice Assistant Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Voice Assistant Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global voice assistant market report has been segmented on the basis of technology, end-user industry, and region.

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Global Voice Assistant Market: Overview

Voice assistants are defined as the software programs that gives response to the voice commands for performing a range of tasks.  These voice assistants find an opening in an end users calendar for scheduling an appointment, placing an order for real and solid goods, and also acts as a hands-free organizer for doing many tasks such as texting and many more. Voice assistant is also called as a VPA-enabled speaker or voice control. This device is a smart device that helps in enabling user for controlling certain things. Voice assistance devices helps in offering advantages such as placing online orders, hands-free computing, playing music, turning on/off lights, answering questions etc.

Global Voice Assistant Market: Dynamics

High penetration of broadband and internet connections and increasing instances of voice searches, increasing adoption level of smart homes are among the major factors that drive the growth of the target market. In addition, increasing inclination towards automation and IOT and increasing speech recognition and voice recognition technologies in many devices which are installed in smart homes are among the other factors that drive the growth of global voice assistant market.

However, high cost of voice assistants and the limited competition in voice and speech recognition through a neural network is limiting its usage for various cloud-based services is hampering the growth of the global market to a certain extent.

Global Voice Assistant Market: Segment Analysis

Speech recognition technology is one of the mostly used technology due to rising adoption level among many users for the mobile computer technology across the globe and increasing demand for this technology in various applications including BFSI, automotive, and healthcare.

The voice assistant is used in websites applications due to increasing various types of applications.

The usage of voice assistant is increasing in SMEs due to increasing infrastructure oriented advancements and improved artificial intelligence (AI).

Global Voice Assistant Market: Region Analysis

North America region is opting for voice assistant as there are technical advancements and increasing use of mobiles, internet, and tablets and rising spending capacity for R&D in automation. In addition, increasing demand for advanced products and growing demand for voice-first technology and increasing requirements for customer relationship management. Thus, market in North America is expected to register significant revenue share in the global market.

The voice assistant market in Asia Pacific is expected for contributing highest market share in the global market due to changing lifestyle of people and increasing investments in IoT by various salespersons in this region. Increasing demand for voice assistant in countries such as Japan and China due to increasing adoption of technologies and rapid technological advancements in numerous countries and growing demand for rapid resolution, online self-service, self-reliance is also one of the factor that fuels the growth of the market in Asia Pacific region.

Global Voice Assistant Market Segmentation:

Segmentation by Technology:
Speech Recognition
Speech Recognition System
Speaker Dependent Systems
Speaker Independent Systems
Natural Language Processing (NLP)
Text-to-Speech Recognition
Voice Recognition

Segmentation by Application:

Messenger Bots
Websites
Contact Centers

Segmentation by End User:

Individual Users
SMEs
Large Enterprises