Voice Assistant Application Market Expected to Reach US ~$20.66 Billion and CAGR 32.7% by 2028
The global voice assistant application market size is expected to reach USD 20.66 billion by 2028 according to a new study by Polaris Market Research.
The adoption of smart homes and growth in the gaming industry further boosts industry growth. The adoption of voice assistant applications has increased during the pandemic for optimizing home, industrial, and office applications.
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The outbreak of COVID-19 has necessitated the use of this industry across healthcare facilities to lighten the burden on healthcare workers. This software is being used to screen symptoms of COVID-19 and instruct patients towards emergency services. North America dominated the global industry in 2020 and is anticipated to grow at a significant pace during the projected period. Increasing uses in the North American industries, including retail, healthcare, transportation, and manufacturing, are key industry expansion drivers.
The rise in investment by small and medium-sized businesses, and the growing adoption of IoT, smart homes, and connected devices are expected to raise the market investment during the forecast period. Major participants include Nuance Communications, Apple Inc., Oracle Corporation, Salesforce.com, Inc., IBM Corporation, SAP, Samsung, Microsoft Corporation, Verbio Technologies, Google LLC, Baidu, Inc., and Amazon Web Services. Market players are collaborating with each other for research and development, strengthening market presence, and technological innovation. The greater need to cater to growing customer requirements has encouraged industry participants to leverage new technologies to develop high-quality products.
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Polaris Market Research has segmented the voice assistant application market report on the basis of component, deployment model, organization size, end-use, and region:
Voice Assistant Application, Component Outlook (Revenue, USD Billion, 2016 – 2028)
- Solution
- Services
Voice Assistant Application, Deployment Model Outlook (Revenue, USD Billion, 2016 – 2028)
- Cloud
- On-Premise
Voice Assistant Application, Organization Size Outlook (Revenue, USD Billion, 2016 – 2028)
- Large Enterprises
- Small and Medium Businesses
Voice Assistant Application, End-Use Outlook (Revenue, USD Billion, 2016 – 2028)
- Telecom and IT
- Healthcare
- Retail
- BFSI
- Media and Entertainment
- Manufacturing
- Others
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