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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Voice Assistant Application Market Size
The global voice assistant application market 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.
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
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market was estimated to be valued at USD 4.10 billion in 2023.
The market is projected to grow at a CAGR of 24.5% between 2024 and 2032.
The revenue generated from the voice assistant application market is expected to reach USD 29.27 billion in 2032.
The growth of the voice assistant application market is driven by advancements in conversational AI, integration with smart devices, improved personalization, and a strong focus on accessibility.
The market is categorised according to its component types, which include solutions and services.
The key players are IBM Corporation, Alphabet, Inc., Amazon Web Services Inc., Microsoft Corporation, Apple Inc., Samsung Electronics Co., Ltd., Cisco, Oracle, SAP SE, and Verint System Inc. among others.
Based on the deployment type, the market is divided into on-premises and cloud.
The major areas include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Based on the industry, the market is divided into banking, financial services, and insurance, healthcare, retail and e-commerce, media and entertainment, telecom and IT, manufacturing and automotive, education, travel and hospitality and others.
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