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 report “Voice Assistant Application Market Share, Size, Trends, Industry Analysis Report, By Component (Solution, Services); By Deployment Model (Cloud, On Premise); By Organization Size (Large Enterprises, Small and Medium Businesses); By End-Use (Telecom and IT, Healthcare, Retail, BFSI, Media and Entertainment, Manufacturing, Others); By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The adoption of smart homes and growth in the gaming industry further boosts the industry growth. The adoption of voice assistant applications has increased during the pandemic for optimizing home, industrial, and office applications.
Social distancing during the pandemic has encouraged automated interactions and voice assistants to address health and safety regulations. Healthcare organizations and educational institutes have adopted these applications during the pandemic for increased safety. It also provides improved support for mobile apps on smartphones and tablets. Organizations across the world are adopting this technology to provide assistance with personal and business tasks.
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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. These software are 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.
Rise in investment by small and medium-sized businesses, 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. Greater need to cater to growing customer requirements has encouraged industry participants to leverage new technologies to develop high-quality products.
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)
Voice Assistant Application, Deployment Model Outlook (Revenue, USD Billion, 2016 - 2028)
Voice Assistant Application, Organization Size Outlook (Revenue, USD Billion, 2016 - 2028)
Voice Assistant Application, End-Use Outlook (Revenue, USD Billion, 2016 - 2028)
Voice Assistant Application, Regional Outlook (Revenue, USD Billion, 2016 - 2028)