Global Voice User Interface Market Report and Forecast 2024-2032

Global Voice User Interface Market Outlook

The global voice user interface market size was approximately USD 23.97 billion in 2023. The market is further projected to grow at a CAGR of 21.1% between 2024 and 2032, reaching a value of USD 134.28 billion by 2032.

Key Trends in the Market

Voice user interface, or VUI, is a technology that enables voice commands to be used for communication with electronic devices, including computers, smartphones, and other devices. With this voice-first strategy, customers can use automated services and perform daily tasks quickly and easily.

VUI can perform tasks such as setting alarms, reminders, playing music, and others that any e-device can do while offering a hands-on and screen-free experience to users. Google Assistant, Siri, and Amazon Alexa are some of the most widely known VUIs in the world.

• With the growing smartphone penetration and the increasing accessibility to 5G networking connectivity, there is an increasing adoption of voice user interfaces for hands-free and personalised interactions.

• One of the key voice user interface market trends includes advancements in speech recognition technology and AI voice recognition systems that make use of NLP and ASR technologies. Such technologies are expected to improve the recognition ability of voice commands and enhance the recognition of short words.

• Innovations in multilingual VUI to provide valuable insights, analyse trends in multiple languages and dialects, and prove accessible to a wider range of audiences are expected to positively influence the voice user interface market growth in the forecast period. Additionally, data on consumer preferences, language usage trends, and user behaviour across various markets can be obtained with a multilingual VUI.

Market Analysis

Based on offering, the market is segmented into solutions and services. On the basis of application, the market can be bifurcated into smart speakers, voice-controlled devices, interactive voice response, and smartphones and tablets, among others.

Based on industry vertical the global voice user interface market segmentation includes BFSI, consumer electronics, retail and e-commerce, automotive and transportation, healthcare and life science, government and defense, and travel and hospitality, among others. The major regional markets for the market are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global voice user interface market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Apple, Inc.

• Amazon.com, Inc. 

• Alphabet Inc. (Google)

• Microsoft Corporation

• Samsung Electronics Co., Ltd.

• Meta Platforms Inc.

• SoundHound AI Inc.

• Voix Inc.

• CastleOS Software, LLC

• Others

Market Share by Industry Vertical

As per the global voice user interface market analysis, sectors such as BFSI and retail and e-commerce are predominantly using voice user interfaces to provide customers with personalised experiences. It also lowers the burden of manual support and offers quick responses.

In the retail and e-commerce sectors, VUIs are used to provide voice shopping and instant product search experiences. Furthermore, by analysing customer product searches and purchased items, VUI empowers businesses to gain insights into consumer demand and behaviour.

Market Share by Region

North America represents a significant portion of the voice user interface market share due to the presence of global technology players such as Apple, Inc., Amazon.com, Inc., and others. Increasing investments by tech start-ups and organisations such as the Technology Modernization Fund (TMF) positively influence the market demand in the region.

The rapid adoption of smart speakers and smart appliances in this region further supports the market growth. Meanwhile, Europe is witnessing a healthy growth due to the booming fashion and e-commerce sectors and the rapid incorporation of voice technology in businesses.

Competitive Landscape

Microsoft Corporation is a technology company founded in 1975 that is engaged in developing a range of software products, services, devices, and solutions. The company's product range includes operating systems, server applications, software development tools, cross-device productivity applications, business solution applications, and cloud computing services such as Azure AI services, Azure Synapse Analytics, and others.

Apple, Inc., founded in 1976, is a global leader in technology and technology-based services and is considered one of the Big Four technology companies in the world. It manufactures and sells computer software, internet services, and consumer products. Siri, its voice user interface, engages with screen components, transcribes, and modifies text, among other things.

Amazon. com, Inc., founded in 1994, is focused on digital streaming, cloud computing, e-commerce, online advertising, and artificial intelligence. Alexa is Amazon’s patented voice user interface that applies state-of-the-art developments in areas such as text-to-speech (TTS), natural language understanding (NLU), and automatic voice recognition (ASR).

Other voice user interface market players are Alphabet Inc. (Google), Samsung Electronics Co., Ltd., Meta Platforms Inc., SoundHound AI Inc., Voix Inc. and CastleOS Software, LLC, among others.

Key Highlights of the Report