Global Voice Assistant Application Market Report and Forecast 2024-2032

Global Voice Assistant Application Market Outlook

The global voice assistant application market size reached USD 4.10 billion in 2023. The market is expected to grow at a CAGR of 24.5% between 2024 and 2032, reaching almost USD 29.27 billion by 2032.

Key Takeaways:

• The International Telecommunication Union reports that 67 per cent of the world's population, roughly 5.4 billion individuals, now have internet access, driving the global voice assistant application market growth.

• Prominent voice assistant applications like Siri, Cortana, Alexa, and Assistant are widely acknowledged. Rising internet and smart device usage propel global market growth.

• Statistics Canada reveals a rise in smartphone ownership among Canadian seniors, climbing from 80% in 2018 to 84% in 2020, bolstering the global voice assistant application market for supporting elderly population.

A voice assistant employs voice recognition, synthesis, and language processing algorithms to interpret specific voice commands from users. It is known as an intelligent personal assistant or connected speaker, often integrated into smart devices for task execution. The adoption of voice assistants in daily life is on the rise due to rapid advancements in technology. These applications simplify tasks such as online ordering and appointment scheduling.

Many vendors offer voice assistant applications with advanced features like artificial intelligence (AI), speech conversion, and edge computing. Widely recognized voice assistant applications include Apple's Siri, Microsoft's Cortana, Amazon's Alexa, and Google's Assistant. The increasing use of the internet and smart devices among consumers significantly drives the global voice assistant application market growth.

As per the International Telecommunication Union, around 67 per cent of the global population, equivalent to 5.4 billion individuals, now has internet access.

Key Trends and Developments

The global voice assistant application market is driven by advancements in conversational AI, integration with smart devices, improved personalization, and a strong focus on accessibility.

February 2024

Google unveiled Gemini, its most advanced AI, elevating AI chatbot and voice assistant capabilities. Rebranding its Bard chatbot, Google aims to excel in language model technology.

January 2024

Mercedes-Benz achieved a milestone by integrating artificial intelligence into automobiles, revealing a new virtual assistant at the CES electronics trade show. The assistant conversed with users and provided context-based recommendations.

September 2023

Oracle unveiled an innovative AI-powered voice assistant for healthcare providers, automating tasks and executing voice commands to enhance experiences for professionals and patients.

May 2023

Slang Labs, a provider of in-app multilingual voice assistant technology, announced the release of CONVA 2.0. This AI co-pilot, powered by GPT, assisted e-commerce shoppers in their native languages throughout their purchasing journey.

Conversational AI Advancements

Voice assistants are evolving to engage users in more natural conversations, mimicking human dialogue. Progress in natural language processing (NLP) enables smoother interactions, ultimately boosting user satisfaction and involvement with the technology.

Integration with Smart Devices

The global voice assistant application market development is driven by integration with smart devices, enabling control over entire smart home systems. This convenience and automation appeal to users, thus, fostering market expansion.

Enhanced Personalization

As per the global voice assistant application analysis, the user experience is enhanced by leveraging data analytics, personalized suggestions, services, and content tailored to user preferences and behaviour.

Focus on Accessibility

Voice assistants are improving accessibility features, assisting individuals with disabilities through voice-operated interfaces for devices and services. This promotes inclusivity and ease of use.

Global Voice Assistant Application Market Trends

Voice assistants are seamlessly blending with Internet of Things (IoT) gadgets, allowing users to effortlessly command and oversee smart home appliances using voice prompts. The surge in voice-activated shopping permits users to buy items, create orders, and handle subscriptions simply by using voice instructions, simplifying the shopping experience.

As per the global voice assistant application market report, voice assistants are employed for tasks like scheduling appointments, reminding users of medications, and accessing health-related information. Emphasis is placed on safeguarding data, providing choices for data management and secure voice recognition.

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Market Segmentation

Global Voice Assistant Application Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Component Type

• Solutions

• Services

Market Breakup by Deployment Type

• On-Premises

• Cloud

Market Breakup by Company Size

• Individual Users

• Small and Medium Enterprises

• Large Enterprises

Market Breakup by Application

• Web Applications

• Mobile Applications

• Devices

Market Breakup by End Use 

• Banking, Financial Services, and Insurance

• Healthcare

• Retail and E-Commerce

• Media and Entertainment

• Telecom and IT

• Manufacturing and Automotive

• Education

• Travel and Hospitality

• Others

Market Breakup by Region     

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Cloud deployment significantly enhances the global voice assistant application market as it ensures accessibility across various devices, facilitating seamless interactions across platforms like smartphones, smart speakers, and IoT devices

Utilizing cloud infrastructure allows developers of voice assistant applications to cut costs related to maintaining hardware and setting up infrastructure. They only pay for the computing resources they use, ensuring cost-effectiveness.

On-premises voice assistant applications emphasize enhanced privacy and security since user data is confined within the local environment.

Mobile applications contribute significantly to the global voice assistant application market growth since they can be tailored and optimized to leverage the specific features and capabilities of mobile devices

Mobile apps offer users the ability to carry out voice commands and tasks even when they do not have an internet connection, providing offline functionality.

Web apps are available on any device with a web browser, extending voice assistant features to various platforms such as desktops, laptops, tablets, and smartphones.

In terms of end use, the global voice assistant application market share is led by retail and e-commerce by offering customers a hands-free and intuitive method to engage with e-commerce platforms

Voice assistants make conversational commerce possible, allowing users to ask about products, receive suggestions, and finalize purchases using natural language.

Within healthcare, professionals employ voice assistants to access patient records, take notes, and schedule appointments, streamlining operations and improving workflow efficiency.

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Competitive Landscape

The competition in the global voice assistant application market is characterized by offering expertise in AI, online advertising, search engines, and e-commerce.

IBM Corporation, established in 1911 and headquartered in the United States, is a leading global IT company with operations spanning more than 170 countries. Renowned for its hardware and software solutions, IBM offers a diverse range of products such as computers, servers, storage systems, and networking equipment.

Alphabet, Inc. founded in 1998 in the US, stands as a multinational technology behemoth specializing in AI, online advertising, search engines, cloud computing, software development, quantum computing, e-commerce, and consumer electronics.

Amazon Web Services (AWS) was founded in 2006 and provides a comprehensive array of cloud-based services on a global scale. These services encompass computing, storage, databases, analytics, networking, mobile solutions, developer tools, management tools, IoT, security offerings, and enterprise applications. AWS services are instantly accessible upon request, with pricing structured on a pay-as-you-go model.

Microsoft Corporation, established in 1975 and headquartered in the United States, focuses on the development, licensing, and support of an extensive portfolio of enterprise and consumer software products and services. Microsoft's offerings include operating systems tailored for personal computers, servers, and mobile devices, along with server applications, management tools, and productivity applications.

Other key players in the global voice assistant application market are Apple Inc., Samsung Electronics Co., Ltd., Cisco, Oracle, SAP SE, and Verint System Inc. among others.

Global Voice Assistant Application Market Analysis by Region

Based on region, the global voice assistant application market share is led by North America due to its robust technological infrastructure, facilitating the development and deployment of advanced AI and machine learning models that are essential for high-performing voice assistants. The region's high-speed internet connectivity and widespread use of smart devices provide an ideal environment for efficient voice assistant operations.

Statistics Canada shows an increase in Canadian seniors owning smartphones, rising from 80% in 2018 to 84% in 2020. This supports the global voice assistant market, aiding the elderly with various benefits, such as hands-free operation and health monitoring, promoting independence and well-being.

In the Asia Pacific region, the population demonstrates a widespread technology-friendly mindset and a readiness to adopt sophisticated technologies in daily tasks, ranging from online shopping to managing healthcare. This presents a substantial, pre-established market for voice assistant applications across diverse sectors.

Key Highlights of the Report

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Voice Assistant Application Market Report Snapshots

Voice Assistant Application Market Size

Voice Assistant Application Market Trends

Voice Assistant Application Companies

Voice Assistant Application Market Regional Analysis