Voice Assistant Market 2018 Trends, Size, Segment and Industry Growth by Forecast to 2023

Voice Assistant Market, By Technology (Speech Recognition, Text-to-Speech Recognition, Voice Recognition), Application (Messenger Bots, Websites, Contact Centers) and End User (Individual Users, SMEs, Large Enterprises) - Forecast 2023

Market Highlights:
Major factors driving the growth of voice assistant market are increased instances of voice searches and higher penetration of broadband and internet connections. Increase in adoption of smart homes is another factor driving the growth of voice assistant market. Speech recognition and voice recognition technologies are being used in devices implemented in smart homes.

Voice assistants are software programs that respond to voice commands in order to perform a range of tasks. They can find an opening in a consumer’s calendar to schedule an appointment, place an online order for tangible goods, and act as a hands-free facilitator for texting, among many, many other tasks.

Voice Assistant Market has been segmented on the basis of technology, application and end user. The application segment is further bifurcated into messenger bots, websites and contact centers. The websites segment is expected to dominate the application segment market and will generate highest revenue contributing to the global voice assistant market. The messenger bots segment is expected to grow at the highest segment during the forecast period.

The voice assistant market is growing rapidly over 34% of CAGR and is expected to reach at approx. USD 7 Billion by the end of forecast period.

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Major Key Players:
• Apple, Inc. (U.S.)
• Amazon, Inc. (U.S.)
• Google, Inc. (U.S.)
• Microsoft Corporation (U.S.)
• Samsung Group (South Korea)
• Orange S.A. (France)
• Sony Corporation (Japan)
• Alibaba Group Holding Limited (China)
• Motorola Solutions, Inc. (U.S.)
• And Next IT Corporation (U.K.)

Regional Analysis:
Regionally, North-America accounted for the largest market share from countries such U.S. among others. The reason is attributed to the increase in investments for these technological solutions, adoption of these smart temperature management solutions by various domains and low operational cost.

However, Asia-Pacific region is expected to grow over the forecast period, 2017-2023. The reason is attributed to presence of large number of electronic manufacturers, increasing government initiatives and the increasing adoption of these solutions by various sectors.

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Voice Assistant Market Segmentation:
The voice assistant market has been segmented on the basis of technology, application and end user. The end user segment is further bifurcated into individual users, SMEs and large enterprises. Individual users segment is more drawn towards the voice assistant applications like Apple’s Siri and Amazon’s Alexa. Artificial intelligence improvements and other infrastructure oriented advancements are basically driving the growth of voice assistant market.

Intended Audience:
• Device manufacturers
• Network Operators
• Distributors
• Suppliers
• Research firms
• Software Developers
• Commercial Banks
• Vendors
• Semiconductor Manufacturers
• End-user sectors
• Technology Investors

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Table of Contents
1 Market Introduction
1.1 Introduction
1.2 Scope of Study
1.2.1 Research objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
2 Research Methodology
2.1 Research Type
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation

List of Tables
Table 1 Voice Assistant Market, By Technology
Table 2 Voice Assistant Market, By Application
Table 3 Voice Assistant Market, By End User

List of Figures
Figure 1 Research Type
Figure 2 Voice Assistant Market, By Technology (%)
Figure 3 Voice Assistant Market, By Application (%)

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Release ID: 433216