Description
Report Description
Introduction
Voice recognition technology is growing at a faster pace owing to its increasing number of benefits such as accessibility, flexibility and better productivity is driving the voice recognition market. It has wide application area predominantly into home automation system. Voice assistant provides unrivaled convenience and that is the major factor driving the growth of voice assistant market. Voice assistants have moved far ahead from being applications to becoming access points for personalized services. With increasing adoption of smart homes, there has been a considerate increase in implementation of voice assistants too. Voice assistants are integrated in the smart home devices and these devices can be monitored by user’s voice. Voice control is showing its impact and is considered to be the future of home automation. Amazon’s Alexa works with many smart homes devices and helps to control the devices just with a voice command. Gadgets like cooker and oven are also integrated with voice assistants and are powered with artificial intelligence.
Artificial intelligence improvements and other infrastructure oriented advancements are basically driving the growth of voice assistant market. Alexa even allows to order a pizza or book a cab ride with its voice control features. Google has announced integration of third party transactional services into Google Home like WhatsApp and Uber. With such integration the demand for self service applications is showing rapid growth and driving the growth of voice assistant market.
Technological advancements are making the voice assistants more capable. These advancements are due to the increasing adoption of artificial intelligence and growing popularity of internet of things. Voice searches provide users with various benefits like hands free computing and also offers translation features. Technology giants have come up with their voice assistants like Apple’s Siri and Amazon’s Echo which make the mobile user experience more convenient and user friendly too. Companies like Samsung, Orange, Alibaba, and Motorola have also entered into this market. Alexa, Amazon’s voice assistant holds the largest market share of voice assistant market with the growing popularity of its application.
The global voice assistant market is expected to grow approximately at USD 7840.82 Million by 2023, approx. 39.27% of CAGR between 2017 and 2023.
Key Players
The key players of voice assistant market includes Amazon, Inc. (U.S.), Google, Inc. (U.S.), Apple, Inc. (U.S.), Microsoft Corporation (U.S.), Samsung Electronics (South Korea), Orange S.A. (France), Next IT Corporation (U.K.), Creative Virtual Ltd. (U.K.), Nuance Communications (U.S.) and Nokia Networks (Netherlands) among others.
Global Voice Assistant Market Analysis & Forecast, from 2017 to 2023
• To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the voice assistant market.
• To provide insights about factors affecting the market growth.
• To analyze the voice assistant market based on porter’s five force analysis etc.
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World.
• To provide country level analysis of the market with respect to the current market size and future prospective.
• To provide country level analysis of the market for segment on the basis of technology, application and end user.
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the voice assistant market.
Target Audience
• Technology investors
• Integrated device manufacturers (IDMs)
• Original equipment manufacturers (OEMs)
• Research/Consultancy firms
Key Findings
• The global voice assistant market is expected to reach USD 7840.82 Million by 2023.
• By Technology, speech recognition sub segment in voice assistant market accounts for the largest market share and is growing with approximately 39.51% CAGR during forecast period.
• By Application, messenger bots sub segment holds the largest market growing with approximately 39.67% CAGR by the end of forecast period.
• By End User, individual users sub segment holds the largest market share and is growing with approximately 40.07% CAGR by the end of forecast period.
• Geographically, North America region has been projected to hold the largest market share in global voice assistant market followed by Europe region, while Asia Pacific ranks third in the voice assistant market.
Regional and Country Analysis of Voice Assistant Market Estimation and Forecast
Voice assistant market is growing with the positive growth in all the regions. Increasing application areas year on year and advancement in technology and integration is driving the market on global scale. On the basis of region, the market has been segmented into North America, Europe, Asia-Pacific and Rest of the World. North America is dominating the global voice assistant market share followed by Europe which stands as the second biggest market due to increasing applications whereas, Asia Pacific stands as third largest market.
The reports also cover country level analysis:
• North America
o US
o Canada
o Mexico
o Others
• Europe
o Germany
o UK
o France
o Rest of the Europe
• Asia – Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
• Rest of the World
1 Research Methodologies
1.1 Research Process
1.2 Primary Research
1.3 Secondary Research
1.4 Forecast Model
1.4.1 Market Size Estimation
2 Market Dynamics
2.1 Market Drivers
2.1.1 Increasing Instances of Voice Search
2.1.2 Increasing Adoption of Smart Homes
2.1.3 High Demand for Self Service Applications
2.2 Market Restraints
2.2.1 High Costs
2.2.2 Integration of Devices can be Difficult
2.3 Market Opportunity
2.3.1 Home Automation is Fueling the Growth of Voice Assistant Market
2.3.2 Artificial Intelligence is Driving the Voice Assistant Market
3 Executive Summary
4 Market Factor Analysis
4.1 Voice Assistant Supply Chain
4.2 Porter’s Five Forces Analysis
5 Global Voice Assistant Market, By Technology
5.1 Introduction
5.1.1 Market by Sub-segment
5.1.1.1 Speech Recognition
5.1.1.1.1 Speech Recognition System
5.1.1.1.1.1 Speaker Dependent System
5.1.1.1.1.2 Speaker Independent System
5.1.1.1.2 Natural Language Processing
5.1.1.2 Text to Speech Recognition
5.1.1.3 Voice Recognition
5.1.1.4 Others
6 Global Voice Assistant Market, By Application
6.1 Introduction
6.1.1.1 Messenger Bots
6.1.1.2 Websites
6.1.1.3 Contact Centers
6.1.1.4 Others
7 Global Voice Assistant Market, By End-User
7.1 Introduction
7.1.1.1 Individual Users
7.1.1.2 SMEs
7.1.1.3 Large Enterprises
7.1.1.4 Others
8 Global Voice Assistant Market, By Region
8.1.1 North America
8.1.2 Europe
8.1.3 Asia-Pacific
8.1.4 ROW
9 Competitive Analysis
9.1 Market Share Analysis
9.2 Company Profiles
9.2.1 AMAZON, INC.
9.2.1.1 Business Overview
9.2.1.2 Product/Services Offering
9.2.1.3 Business Strategy
9.2.1.4 SWOT Analysis
9.2.2 GOOGLE, INC.
9.2.2.1 Business Overview
9.2.2.2 Product/Services Offering
9.2.2.3 Business Strategy
9.2.2.4 SWOT Analysis
9.2.3 APPLE, INC.
9.2.3.1 Business Overview
9.2.3.2 Product/Services Offering
9.2.3.3 Business Strategy
9.2.3.4 SWOT Analysis
9.2.4 MICROSOFT CORPORATION
9.2.4.1 Business Overview
9.2.4.2 Product/Services Offering
9.2.4.3 Business Strategy
9.2.4.4 SWOT Analysis
9.2.5 SAMSUNG ELECTRONICS
9.2.5.1 Business Overview
9.2.5.2 Product/Services Offering
9.2.5.3 Business Strategy
9.2.5.4 SWOT Analysis
9.2.6 ORANGE SA
9.2.6.1 Business Overview
9.2.6.2 Product/Services Offering
9.2.6.3 Business Strategy
9.2.6.4 SWOT Analysis
9.2.7 NEXT IT CORPORATION
9.2.7.1 Business Overview
9.2.7.2 Product/Services Offering
9.2.7.3 Business Strategy
9.2.7.4 SWOT Analysis
9.2.8 CREATIVE VIRTUAL LTD.
9.2.8.1 Business Overview
9.2.8.2 Product/Services Offering
9.2.8.3 Business Strategy
9.2.8.4 SWOT Analysis
9.2.9 NUANCE COMMUNICATIONS
9.2.9.1 Business Overview
9.2.9.2 Product/Services Offering
9.2.9.3 Business Strategy
9.2.9.4 SWOT Analysis
9.2.10 NOKIA NETWORKS
9.2.10.1 Business Overview
9.2.10.2 Product/Services Offering
9.2.10.3 Business Strategy
9.2.10.4 SWOT Analysis
10 Appendix
10.1 Definition
10.2 Scope of the Study
10.2.1 Research Objective
10.2.2 Assumption
10.2.3 Limitation
TABLE 1 GLOBAL VOICE ASSISTANT MARKET, BY TECHNOLOGY, 2016-2023 (USD MILLION)
TABLE 2 GLOBAL VOICE ASSISTANT MARKET OF SPEECH RECOGNITION SEGMENT BY REGION, 2016-2023 (USD MILLION)
TABLE 3 GLOBAL VOICE ASSISTANT MARKET OF SPEECH RECOGNITION SYSTEM BY REGION, 2016-2023 (USD MILLION)
TABLE 4 GLOBAL VOICE ASSISTANT MARKET OF SPEAKER DEPENDENT SYSTEM BY REGION, 2016-2023 (USD MILLION)
TABLE 5 GLOBAL VOICE ASSISTANT MARKET OF SPEAKER INDEPENDENT SYSTEM BY REGION, 2016-2023 (USD MILLION)
TABLE 6 GLOBAL VOICE ASSISTANT MARKET OF NATURAL LANGUAGE PROCESSING BY REGION, 2016-2023 (USD MILLION)
TABLE 7 GLOBAL VOICE ASSISTANT MARKET OF TEXT TO SPEECH RECOGNITION BY REGION, 2016-2023 (USD MILLION)
TABLE 8 GLOBAL VOICE ASSISTANT MARKET OF VOICE RECOGNITION BY REGION, 2016-2023 (USD MILLION)
TABLE 9 GLOBAL VOICE ASSISTANT MARKET OF OTHERS BY REGION, 2016-2023 (USD MILLION)
TABLE 10 GLOBAL VOICE ASSISTANT MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
TABLE 11 GLOBAL VOICE ASSISTANT MARKET OF MESSENGER BOTS SEGMENT BY REGION, 2016-2023 (USD MILLION)
TABLE 12 GLOBAL VOICE ASSISTANT MARKET OF WEBSITES SEGMENT BY REGION, 2016-2023 (USD MILLION)
TABLE 13 GLOBAL VOICE ASSISTANT MARKET OF CONTACT CENTERS SEGMENT BY REGION, 2016-2013 (USD MILLION)
TABLE 14 GLOBAL VOICE ASSISTANT MARKET OF OTHERS SEGMENT BY REGION, 2016-2023 (USD MILLION)
TABLE 15 GLOBAL VOICE ASSISTANT MARKET, BY END-USER SEGMENT, 2016-2023 (USD MILLION)
TABLE 16 GLOBAL VOICE ASSISTANT MARKET OF INDIVIDUAL USERS SEGMENT BY REGION, 2016-2023 (USD MILLION)
TABLE 17 GLOBAL VOICE ASSISTANT MARKET OF SMES SEGMENT BY REGION, 2016-2023 (USD MILLION)
TABLE 18 GLOBAL VOICE ASSISTANT MARKET OF LARGE ENTERPRISES SEGMENT BY REGION, 2016-2023 (USD MILLION)
TABLE 19 GLOBAL VOICE ASSISTANT MARKET OF OTHERS BY REGION, 2016-2023 (USD MILLION)
TABLE 20 GLOBAL VOICE ASSISTANT MARKET RESEARCH REPORT- FORECAST,2016-2023 (USD MILLION)
TABLE 21 GLOBAL VOICE ASSISTANT MARKET BY NORTH AMERICA REGION – FORECAST 2016 -2023 (USD MILLION)
TABLE 22 NORTH AMERICA VOICE ASSISTANT MARKET, BY TECHNOLOGY, 2016-2023 (USD MILLION)
TABLE 23 NORTH AMERICA VOICE ASSISTANT MARKET, BY SPEECH RECOGNITION TECHNOLOGY, 2016-2023 (USD MILLION)
TABLE 24 NORTH AMERICA VOICE ASSISTANT MARKET, BY SPEECH RECOGNITION SYSTEM, 2016-2023 (USD MILLION)
TABLE 25 NORTH AMERICA VOICE ASSISTANT MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
TABLE 26 NORTH AMERICA VOICE ASSISTANT MARKET, BY END USER, 2016-2023 (USD MILLION)
TABLE 27 EUROPE VOICE ASSISTANT MARKET, BY COUNTRY, 2016-2023 (USD MILLION)
TABLE 28 EUROPE VOICE ASSISTANT MARKET, BY TECHNOLOGY, 2016-2023 (USD MILLION)
TABLE 29 EUROPE VOICE ASSISTANT MARKET, BY SPEECH RECOGNITION, 2016-2023 (USD MILLION)
TABLE 30 EUROPE VOICE ASSISTANT MARKET, BY SPEECH RECOGNITION SYSTEM, 2016-2023 (USD MILLION)
TABLE 31 EUROPE VOICE ASSISTANT MARKET, BY APPLICATION,2016-2023 (USD MILLION)
TABLE 32 EUROPE VOICE ASSISTANT MARKET, BY END USER, 2016-2023 (USD MILLION)
TABLE 33 ASIA PACIFIC VOICE ASSISTANT MARKET, BY COUNTRY,2016-2023 (USD MILLION)
TABLE 34 ASIA PACIFIC VOICE ASSISTANT MARKET, BY TECHNOLOGY, 2016-2023 (USD MILLION)
TABLE 35 ASIA PACIFIC VOICE ASSISTANT MARKET, BY SPEECH RECOGNITION, 2016-2023 (USD MILLION)
TABLE 36 ASIA PACIFIC VOICE ASSISTANT MARKET, BY SPEECH RECOGNITION SYSTEM, 2016-2023 (USD MILLION)
TABLE 37 ASIA PACIFIC VOICE ASSISTANT MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
TABLE 38 ASIA PACIFIC VOICE ASSISTANT MARKET, BY END-USER, 2016-2023 (USD MILLION)
TABLE 39 ROW VOICE ASSISTANT MARKET, BY TECHNOLOGY, 2016-2023 (USD MILLION)
TABLE 40 ROW VOICE ASSISTANT MARKET, BY SPEECH RECOGNITION, 2016-2023 (USD MILLION)
TABLE 41 ROW VOICE ASSISTANT MARKET, BY SPEECH RECOGNITION SYSTEM, 2016-2023 (USD MILLION)
TABLE 42 ROW VOICE ASSISTANT MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
TABLE 43 ROW VOICE ASSISTANT MARKET, BY END USER, 2016-2023 (USD MILLION)
FIGURE 1 MRFR RESEARH PROCESS
FIGURE 2 FORECAST MODEL
FIGURE 3 GLOBAL VOICE ASSISTANT MARKET: DRIVERS & CHALLENGES
FIGURE 4 GLOBAL VOICE ASSISTANT MARKET SUPPLY CHAIN
FIGURE 5 GLOBAL VOICE ASSISTANT MARKET: PORTER’S FIVE FORCES ANALYSIS
FIGURE 6 GLOBAL VOICE ASSISTANT MARKET BY TECHNOLOGY, 2016-2023 (USD MILLION)
FIGURE 7 GLOBAL VOICE ASSISTANT MARKET OF SPEECH RECOGNITION SEGMENT BY REGION, 2016-2023 (USD MILLION)
FIGURE 8 GLOBAL VOICE ASSISTANT MARKET OF SPEECH RECOGNITION SYSTEM BY REGION, 2016-2023 (USD MILLION)
FIGURE 9 GLOBAL VOICE ASSISTANT MARKET OF SPEAKER DEPENDENT SYSTEM BY REGION, 2016-2023 (USD MILLION)
FIGURE 10 GLOBAL VOICE ASSISTANT MARKET OF SPEAKER INDEPENDENT SYSTEM BY REGION, 2016-2023 (USD MILLION)
FIGURE 11 GLOBAL VOICE ASSISTANT MARKET OF NATURAL LANGUAGE PROCESSING BY REGION, 2016-2023 (USD MILLION)
FIGURE 12 GLOBAL VOICE ASSISTANT MARKET OF TEXT TO SPEECH RECOGNITION BY REGION, 2016-2023 (USD MILLION)
FIGURE 13 GLOBAL VOICE ASSISTANT MARKET OF VOICE RECOGNITION BY REGION, 2016-2023 (USD MILLION)
FIGURE 14 GLOBAL VOICE ASSISTANT MARKET OF OTHERS BY REGION, 2016-2023 (USD MILLION)
FIGURE 15 GLOBAL VOICE ASSISTANT MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
FIGURE 16 GLOBAL VOICE ASSISTANT MARKET OF MESSENGER BOTS SEGMENT BY REGION, 2016-2023 (USD MILLION)
FIGURE 17 GLOBAL VOICE ASSISTANT MARKET OF WEBSITES SEGMENT BY REGION, 2016-2023 (USD MILLION)
FIGURE 18 GLOBAL VOICE ASSISTANT MARKET OF CONTACT CENTERS SEGMENT BY REGION, 2016-2023 (USD MILLION)
FIGURE 19 GLOBAL VOICE ASSISTANT MARKET, BY OTHERS (USD MILLION)
FIGURE 20 GLOBAL VOICE ASSISTANT MARKET, BY END-USER SEGMENT, 2016-2023 (USD MILLION)
FIGURE 21 GLOBAL VOICE ASSISTANT MARKET, BY INDIVIDUAL USERS, 2016-2023 (USD MILLION)
FIGURE 22 GLOBAL VOICE ASSISTANT MARKET OF SMES SEGMENT BY REGION, 2016-2023 (USD MILLION)
FIGURE 23 GLOBAL VOICE ASSISTANT MARKET LARGE ENTERPRISES SEGMENT BY REGION, 2016-2023 (USD MILLION)
FIGURE 24 GLOBAL VOICE ASSISTANT MARKET OF OTHERS BY REGION, 2016-2023 (USD MILLION)
FIGURE 25 GLOBAL VOICE ASSISTANT MARKET RESEARCH REPORT – FORECAST,2016-2023 (USD MILLION)
FIGURE 26 NORTH AMERICA VOICE ASSISTANT MARKET, BY COUNTRIES, 2016-2023 (USD MILLION)
FIGURE 27 NORTH AMERICA VOICE ASSISTANT MARKET, BY TECHNOLOGY, 2016-2023 (USD MILLION)
FIGURE 28 NORTH AMERICA VOICE ASSISTANT MARKET, BY SPEECH RECOGNITION TECHNOLOGY, 2016-2023 (USD MILLION)
FIGURE 29 NORTH AMERICA VOICE ASSISTANT MARKET, BY SPEECH RECOGNITION SYSTEM, 2016-2023 (USD MILLION)
FIGURE 30 NORTH AMERICA VOICE ASSISTANT MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
FIGURE 31 NORTH AMERICA VOICE ASSISTANT MARKET, BY END USER, 2016-2023 (USD MILLION)
FIGURE 32 EUROPE VOICE ASSISTANT MARKET, BY COUNTRY, 2016-2023 (USD MILLION)
FIGURE 33 EUROPE VOICE ASSISTANT MARKET, BY TECHNOLOGY, 2016-2023 (USD MILLION)
FIGURE 34 EUROPE VOICE ASSISTANT MARKET, BY SPEECH RECOGNITION, 2016-2023 (USD MILLION)
FIGURE 35 EUROPE VOICE ASSISTANT MARKET, BY SPEECH RECOGNITION SYSTEM, 2016-2023 (USD MILLION)
FIGURE 36 EUROPE VOICE ASSISTANT MARKET, BY APPLICATION ,2016-2023 (USD MILLION)
FIGURE 37 EUROPE VOICE ASSISTANT MARKET, BY END USER, 2016-2023 (USD MILLION)
FIGURE 38 ASIA PACIFIC VOICE ASSISTANT MARKET, BY COUNTRY,2016-2023 (USD MILLION)
FIGURE 39 ASIA PACIFIC VOICE ASSISTANT MARKET, BY TECHNOLOGY, 2016-2023 (USD MILLION)
FIGURE 40 ASIA PACIFIC VOICE ASSISTANT MARKET, BY SPEECH RECOGNITION, 2016-2023 (USD MILLION)
FIGURE 41 ASIA PACIFIC VOICE ASSISTANT MARKET, BY SPEECH RECOGNITION SYSTEM, 2016-2023 (USD MILLION)
FIGURE 42 ASIA PACIFIC VOICE ASSISTANT MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
FIGURE 43 ASIA PACIFIC VOICE ASSISTANT MARKET, BY END-USER, 2016-2023 (USD MILLION)
FIGURE 44 ROW VOICE ASSISTANT MARKET, BY TECHNOLOGY, 2016-2023 (USD MILLION)
FIGURE 45 ROW VOICE ASSISTANT MARKET, BY SPEECH RECOGNITION, 2016-2023 (USD MILLION)
FIGURE 46 ROW VOICE ASSISTANT MARKET, BY SPEECH RECOGNITION SYSTEM, 2016-2023 (USD MILLION)
FIGURE 47 ROW VOICE ASSISTANT MARKET, BY APPLICATION, 2016-2023(USD MILLION)
FIGURE 48 ROW VOICE ASSISTANT MARKET, BY END USER, 2016-2023 (USD MILLION)
FIGURE 49 GLOBAL VOICE ASSISTANT KEY PLAYERS MARKET SHARE, 2016 (%)
