Dublin, Sept. 16, 2019 (GLOBE NEWSWIRE) -- The "Global Voice Assistant Market By Technology, By Application, By End User, By Region, Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.
The global voice assistant market is projected to exhibit a CAGR of over 30% during the forecast period, growing from $ 1.2 billion in 2018 to $ 5.4 billion by 2024, on account of increasing proliferation of smartphones and advanced features such as the ability to recognize different languages, respond via text or voice.
The global voice assistant market can be segmented based on technology, application and end-user.
On the basis of technology, the market can be segmented into speech recognition, text to speech recognition, voice recognition and natural language processing. Text to speech recognition is the leading segment in the global voice assistant market, as it makes it easier for customers to interact with smartphones and its customers.
On the basis of application, the market can be classified into message bots, websites, contact centers and others. The website segment is expected to register the fastest growth the during forecast period, owing to high consumer inclination towards self service options.
Regionally, the market for voice assistant is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe, South America and the Middle East & Africa. Owing to the vast base of smartphone users and the presence of leading players in the region, North America is anticipated to dominate the global voice assistant market in the coming years. The Asia-Pacific voice assistant market is likely to witness significant adoption of voice assistants during the forecast period, on the back of increasing demand from emerging economies such as India and China.
Major players operating in the global voice assistant market include Google Inc., Amazon Inc., Apple Inc., Microsoft Corp., Samsung Group, Orange S.A., Nuance Communications, Sony Corp., Alibaba Group Holding Ltd., Motorola Solutions, Inc., Next IT Corp., etc.
Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. Assistants such as Google Assistance, Apple Siri and Microsoft Cortana have been introduced by players operating in the market.
Years Considered
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020-2024
Objective of the Study
- To analyze and forecast the global voice assistant market size.
- To classify and forecast the global voice assistant market based on technology, application, end-user and regional distribution.
- To identify drivers and challenges for the global voice assistant market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global voice assistant market.
- To conduct the pricing analysis for the global voice assistant market.
- To identify and analyze the profile of leading players operating in the global voice assistant market.
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Global Voice Assistant Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Technology (Speech Recognition; Text to speech Recognition; Voice Recognition; Natural Language Processing)
5.2.2. By Application (Messenger Bots; Websites; Contact Centers; Others)
5.2.3. By End User (SME; Large Enterprise; Individual User)
5.2.4. By Region
5.2.5. By Company (2018)
5.3. Market Attractiveness Index
6. North America Voice Assistant Market Outlook
7. Europe Voice Assistant Market Outlook
8. Asia-Pacific Voice Assistant Market Outlook
9. Middle East & Africa Voice Assistant Market Outlook
10. South America Voice Assistant Market Outlook
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
13. Competitive Landscape
13.1. Competition Outlook
13.2. Company Profiles
13.2.1. Apple Inc.
13.2.2. Microsoft Corp.
13.2.3. Amazon Inc.
13.2.4. Nuance Communications
13.2.5. Orange S.A.
13.2.6. Google Inc.
13.2.7. Samsung Group
13.2.8. Alibaba Group Holding Ltd.
13.2.9. Motorola Solutions Inc.
13.2.10. Next IT Corp.
14. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/pum5fc
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.