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Press Release / Technology / Voice Assistant Market Global Trends, Size, Segments, Competitors Strategy, Regional Analysis and Growth by Forecast to 2023

Voice Assistant Market Global Trends, Size, Segments, Competitors Strategy, Regional Analysis and Growth by Forecast to 2023

By kiran on May 13 2019 | 26 Views

Voice Assistant Market, By Technology (Speech Recognition, Text-to-Speech Recognition, Voice Recognition), Application - Forecast 2023

Voice Assistant Market Highlights:
In this rapidly changing world of technology, Voice assistant market is projected to show major growth prospects during the forecast period. Voice assistant technology provides unrivaled convenience and that is the major factor driving the growth of voice assistant market.
This is owing to the presence of large number of established key players and increasing popularity of voice-first technology in that region. In addition to this, the region also has a well-established infrastructure which allows higher penetration of devices which ultimately provides high speed connectivity and is expected to be a major factor for the growth of voice assistant market.
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.)

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.
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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