Voice Assistant Application Market By Component (Hardware, Software and Services), By Deployment Mode (On-premise and Cloud), By Application (Web Application, Mobile Application and AI Devices), By End-user (BFSI, Healthcare, Retail, Media & Entertainment, IT & Telecom, Automotive, Education, and Others) - Growth, Future Prospects and Competitive Landscape, 2019 – 2027
The global voice assistant application market was valued at US$ 1.20 Bn in 2018 and is expected to witness significant growth, expanding at a CAGR of 18.5% during the forecast period from 2019 to 2027. Voice assistants are software programs that are liable for responding to the voice commands for performing wide range of tasks. Voice assistants come in small packages and are able to perform a variety of functions after hearing a wake command or word. These assistants can answer questions, turn on and off lights, place online orders, play music, etc. As voice assistants are becoming more robust, their utility in both business as well as personal realms is expected to grow in the years to come. Consumer awareness of voice assistants and devices, in terms of all the technology that exists and the know-hows that are already in place, is nascent. As a result, the technology is expected to continue to shift and drive consumer behavior in the near future.
Rising penetration of internet and broadband connection and proliferation of mobile devices and mobile applications are some of the major factors driving the growth of voice assistant application market. The fast-paced adoption of new technologies, social media and smart devices is carving out a new digital future. Voice as a channel of interaction has become a reality. The release of reasonably priced, voice-enabled devices by the well-known tech giants such as Amazon and Google along with consumer propensity in payments, shopping, etc. has increased the adoption of voice assistants significantly. As a result, increased adoption of voice-based assistants is projected to give rise to the market development during the forecast period from 2019 to 2027.
"Web-based Applications Garnered Largest Market Share in 2018"
In 2018, web-based applications garnered largest market share in the global voice assistant application market. The segment is likely to grow at a substantial rate during the forecast period from 2019 to 2027. Voice assistant applications are gaining huge traction in administrative use cases for setting reminders, scheduling meetings and assisting during conference calls, etc. The voice assistant applications that are deployed over the web are useful for several activities such as precise navigation, sales and marketing support, customer insights, answering customer queries instantly and centralized knowledge management. Cost-effective development, improved interoperability, easier installation and maintenance, etc. are some of the benefits further supporting the growth of this segment in the overall voice assistant application market.
"North America accounted for the Largest Market Share in 2018"
The global voice assistant application market, based on geography was led by North America in 2018. The region is expected to continue with its dominance during the forecast period from 2019 to 2027. The growth of this region mainly backed by the growing adoption of voice assistant applications in the U.S. Nearly 20% of the U.S. adults use smart speakers. The early consumer adoption rate of smart speakers in the country has taken the market by wonder and that exposure is flowing into more voice assistant usage on PCs, smartphones, etc. Moreover, increasing popularity and adoption of voice-first technology coupled with well-established infrastructure that allows higher penetration of devices which provides high speed connectivity is altogether expected to enhance the regional growth in the years to come.
Competitive Insights:
The major players identified in the voice assistant application market include Amazon.com, Inc., Google LLC, Apple Inc., Microsoft Corporation, Samsung, Orange S.A., Next IT Corporation, Nuance Communications, Inc., Salesforce.com, Inc., and Oracle Corporation among others. Voice assistant have drawn many key players to help grow in the marketplace. The major players present in the market are incessantly developing and updating their applications in order to cater the rising needs of the customers and gain competitive edge over other players. Product innovation, partnerships and new product development remains some of the major strategies adopted by the leading players to have an edge over their counterparts.
Historical & Forecast Period
The research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
Voice assistant application market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global voice assistant application market based on component, deployment mode, application, end-use vertical, and geography. Key segments covered in the report are as follows:
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2017-2027 |
| Base Year | 2018 |
| Forecast Period | 2019-2027 |
| Historical Year | 2017 |
| Unit | USD Billion |
| Segmentation |
Component Segment (2017-2027; US$ Bn) |
|
Deployment Mode Segment (2017 – 2027; US$ Bn) |
|
|
Application Segment (2017-2027; US$ Bn) |
|
|
End-use Vertical Segment (2017-2027; US$ Bn) |
|
|
Geography Segment (2017-2027; US$ Bn) |
Key questions answered in this report
- What was the market size of voice assistant application market in 2018 and forecast up to 2027?
- What are the key factors driving the global voice assistant application market?
- What are the key market trends and high-growth opportunities observed in the voice assistant application market?
- What are the drivers of the voice assistant application market?
- Which is the largest regional market for voice assistant application market?
- Which segment will grow at a faster pace? Why?
- Which region will drive the market growth? Why?
- Which players are leading the voice assistant application market?
- What are the sustainability strategies adopted by the key players operating in the market?
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation
2. Executive Summary
2.1. Market Snapshot: Global VAA Market
2.2. Global VAA Market, by Component, 2018 (US$ Bn)
2.3. Global VAA Market, by Deployment Mode, 2018 (US$ Bn)
2.4. Global VAA Market, by Application, 2018 (US$ Bn)
2.5. Global VAA Market, by End-use Vertical, 2018 (US$ Bn)
2.6. Global VAA Market, by Geography, 2018 (US$ Bn)
3. Market Dynamics
3.1. Introduction
3.1.1. Global VAA Market Value, 2017-2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players
4. Global Voice Assistant Application (VAA) Market, by Component , 2017-2027 (US$ Bn)
4.1. Overview
4.2. Hardware
4.3. Software
4.4. Services
5. Global Voice Assistant Application (VAA) Market, by Deployment Mode, 2017-2027 (US$ Bn)
5.1. Overview
5.2. On-premise
5.3. Cloud
6. Global Voice Assistant Application (VAA) Market, by Application, 2017-2027 (US$ Bn)
6.1. Overview
6.2. Web Application
6.3. Mobile Application
6.4. AI Devices
7. Global Voice Assistant Application (VAA) Market, by End-use Vertical, 2017-2027 (US$ Bn)
7.1. Overview
7.2. BFSI
7.3. Healthcare
7.4. Retail
7.5. Media & Entertainment
7.6. IT & Telecom
7.7. Automotive
7.8. Education
7.9. Others (Manufacturing, Travel and Hospitality, etc.)
8. North America Voice Assistant Application (VAA) Market Analysis, 2017-2027 (US$ Bn)
8.1. Overview
8.1.1. North America VAA Market Value and Growth, 2017-2027, (US$ Bn)
8.2. North America VAA Market Value, By Component, 2017-2027 (US$ Bn)
8.2.1. Market Analysis
8.3. North America VAA Market Value, By Deployment Mode, 2017-2027 (US$ Bn)
8.3.1. Market Analysis
8.4. North America VAA Market Value, By Application, 2017-2027 (US$ Bn)
8.4.1. Market Analysis
8.5. North America VAA Market Value, By End-use Vertical, 2017-2027 (US$ Bn)
8.5.1. Market Analysis
8.6. North America VAA Market Value, By Region/Country, 2017-2027 (US$ Bn)
8.6.1. Market Analysis
8.6.2. U.S.
8.6.3. Rest of North America
9. Europe Voice Assistant Application (VAA) Market Analysis, 2017-2027 (US$ Bn)
9.1. Overview
9.1.1. Europe VAA Market Value and Growth, 2017-2027, (US$ Bn)
9.2. Europe VAA Market Value, By Component, 2017-2027 (US$ Bn)
9.2.1. Market Analysis
9.3. Europe VAA Market Value, By Deployment Mode, 2017-2027 (US$ Bn)
9.3.1. Market Analysis
9.4. Europe VAA Market Value, By Application, 2017-2027 (US$ Bn)
9.4.1. Market Analysis
9.5. Europe VAA Market Value, By End-use Vertical, 2017-2027 (US$ Bn)
9.5.1. Market Analysis
9.6. Europe VAA Market Value, By Region/Country, 2017-2027 (US$ Bn)
9.6.1. Market Analysis
9.6.2. U.K.
9.6.3. Germany
9.6.4. France
9.6.5. Rest of Europe
10. Asia Pacific Voice Assistant Application (VAA) Market Analysis, 2017-2027 (US$ Bn)
10.1. Overview
10.1.1. Asia Pacific VAA Market Value and Growth, 2017-2027, (US$ Bn)
10.2. Asia Pacific VAA Market Value, By Component, 2017-2027 (US$ Bn)
10.2.1. Market Analysis
10.3. Asia Pacific VAA Market Value, By Deployment Mode, 2017-2027 (US$ Bn)
10.3.1. Market Analysis
10.4. Asia Pacific VAA Market Value, By Application, 2017-2027 (US$ Bn)
10.4.1. Market Analysis
10.5. Asia Pacific VAA Market Value, By End-use Vertical, 2017-2027 (US$ Bn)
10.5.1. Market Analysis
10.6. Asia Pacific VAA Market Value, By Region/Country, 2017-2027 (US$ Bn)
10.6.1. Market Analysis
10.6.2. Japan
10.6.3. China
10.6.4. India
10.6.5. Rest of Asia Pacific
11. Rest of the World Voice Assistant Application (VAA) Market Analysis, 2017-2027 (US$ Bn)
11.1. Overview
11.1.1. Rest of the World VAA Market Value and Growth, 2017-2027, (US$ Bn)
11.2. Rest of the World VAA Market Value, By Component, 2017-2027 (US$ Bn)
11.2.1. Market Analysis
11.3. Rest of the World VAA Market Value, By Deployment Mode, 2017-2027 (US$ Bn)
11.3.1. Market Analysis
11.4. Rest of the World VAA Market Value, By Application, 2017-2027 (US$ Bn)
11.4.1. Market Analysis
11.5. Rest of the World VAA Market Value, By End-use Vertical, 2017-2027 (US$ Bn)
11.5.1. Market Analysis
11.6. Rest of the World VAA Market Value, By Region, 2017-2027 (US$ Bn)
11.6.1. Market Analysis
11.6.2. Middle East & Africa
11.6.3. Latin America
12. Company Profiles
12.1. Amazon.com, Inc.
12.2. Google LLC
12.3. Apple Inc.
12.4. Microsoft Corporation
12.5. Samsung
12.6. Orange S.A.
12.7. Next IT Corporation
12.8. Nuance Communications, Inc.
12.9. Salesforce.com, Inc.
12.10. Oracle Corporation
* Here we are using VAA as a short form of Voice Assistant Application
TABLE 1 Market Snapshot: Global Voice Assistant Application (VAA) Market Value
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 Global VAA Market, by Component, 2017-2027 (US$ Bn)
TABLE 5 Global VAA Market, by Deployment Mode, 2017-2027 (US$ Bn)
TABLE 6 Global VAA Market, by Application, 2017-2027 (US$ Bn)
TABLE 7 Global VAA Market, by End-use Vertical, 2017 - 2027 (US$ Bn)
TABLE 8 Global VAA Market, by Geography, 2017-2027 (US$ Bn)
TABLE 9 North America VAA Market, by Component, 2017-2027 (US$ Bn)
TABLE 10 North America VAA Market, by Deployment Mode, 2017-2027 (US$ Bn)
TABLE 11 North America VAA Market, by Application, 2017-2027 (US$ Bn)
TABLE 12 North America VAA Market, by End-use Vertical, 2017 - 2027 (US$ Bn)
TABLE 13 North America VAA Market Value, by Region/Country, 2017-2027 (US$ Bn)
TABLE 14 Europe VAA Market, by Component, 2017-2027 (US$ Bn)
TABLE 15 Europe VAA Market, by Deployment Mode, 2017-2027 (US$ Bn)
TABLE 16 Europe VAA Market, by Application, 2017-2027 (US$ Bn)
TABLE 17 Europe VAA Market, by End-use Vertical, 2017 - 2027 (US$ Bn)
TABLE 18 Europe VAA Market Value, by Region/Country, 2017-2027 (US$ Bn)
TABLE 19 Asia Pacific VAA Market, by Component, 2017-2027 (US$ Bn)
TABLE 20 Asia Pacific VAA Market, by Deployment Mode, 2017-2027 (US$ Bn)
TABLE 21 Asia Pacific VAA Market, by Application, 2017 -2027 (US$ Bn)
TABLE 22 Asia Pacific VAA Market, by End-use Vertical, 2017 - 2027 (US$ Bn)
TABLE 23 Asia Pacific VAA Market Value, by Region/Country, 2017-2027 (US$ Bn)
TABLE 24 Rest of the World VAA Market, by Component, 2017-2027 (US$ Bn)
TABLE 25 Rest of the World VAA Market, by Deployment Mode, 2017-2027 (US$ Bn)
TABLE 26 Rest of the World VAA Market, by Application, 2017-2027 (US$ Bn)
TABLE 27 Rest of the World VAA Market, by End-use Vertical, 2017 - 2027 (US$ Bn)
TABLE 28 Rest of the World VAA Market Value, by Region, 2017-2027 (US$ Bn)
TABLE 29 Amazon.com, Inc.: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 30 Google LLC: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 31 Apple Inc.: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 32 Microsoft Corporation: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 33 Samsung: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 34 Orange S.A.: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 35 Next IT Corporation: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 36 Nuance Communications, Inc.: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 37 Salesforce.com,Inc.: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 38 Oracle Corporation: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
FIG. 1 Global Voice Assistant Application (VAA) Market: Research Methodology
FIG. 2 Market Size Estimation – Top-Down and Bottom Up Approach
FIG. 3 Global VAA Market Segmentation
FIG. 4 Global VAA Market, by Component, 2018 (US$ Bn)
FIG. 5 Global VAA Market, by Deployment Mode, 2018 (US$ Bn)
FIG. 6 Global VAA Market, by Application, 2018 (US$ Bn)
FIG. 7 Global VAA Market, by End-use Vertical, 2018 (US$ Bn)
FIG. 8 Global VAA Market, by Geography, 2018 (US$ Bn)
FIG. 9 Global VAA Market Value, 2017-2027, (US$ Bn) and (Y-o-Y%)
FIG. 10 Attractive Investment Proposition, by Geography, 2018
FIG. 11 Global Market Positioning of Key VAA Providers, 2018
FIG. 12 Global VAA Market Value Share, by Component, 2018 & 2027 (Value %)
FIG. 13 Global VAA Market Value for Hardware, 2017-2027, (US$ Bn)
FIG. 14 Global VAA Market Value for Software, 2017-2027, (US$ Bn)
FIG. 15 Global VAA Market Value Market Value for Services, 2017-2027, (US$ Bn)
FIG. 16 Global VAA Market Value Share, by Deployment Mode, 2018 & 2027 (Value %)
FIG. 17 Global On-premise VAA Market Value, 2017-2027, (US$ Bn)
FIG. 18 Global Cloud VAA Market Value, 2017-2027, (US$ Bn)
FIG. 19 Global VAA Market Value Share, by Application, 2018 & 2027 (Value %)
FIG. 20 Global VAA Market Value for Web Application, 2017-2027, (US$ Bn)
FIG. 21 Global VAA Market Value Mobile Application, 2017-2027, (US$ Bn)
FIG. 22 Global VAA Market Value for AI Devices, 2017-2027, (US$ Bn)
FIG. 23 Global VAA Market Value Share, by End-use Vertical, 2018 & 2027 (Value %)
FIG. 24 Global VAA Market Value for BFSI, 2017-2027, (US$ Bn)
FIG. 25 Global VAA Market Value for Healthcare, 2017-2027, (US$ Bn)
FIG. 26 Global VAA Market Value for Retail, 2017-2027, (US$ Bn)
FIG. 27 Global VAA Market Value for Media & Entertainment, 2017-2027, (US$ Bn)
FIG. 28 Global VAA Market Value for IT & Telecom, 2017-2027, (US$ Bn)
FIG. 29 Global VAA Market Value for Automotive, 2017-2027, (US$ Bn)
FIG. 30 Global VAA Market Value for Education, 2017-2027, (US$ Bn)
FIG. 31 Global VAA Market Value for Others, 2017-2027, (US$ Bn)
FIG. 32 North America VAA Market Value, 2017-2027, (US$ Bn)
FIG. 33 Europe VAA Market Value, 2017-2027, (US$ Bn)
FIG. 34 Asia Pacific VAA Market Value, 2017-2027, (US$ Bn)
FIG. 35 RoW VAA Market Value, 2017-2027, (US$ Bn)
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