Voice Assistant Market Highlights:
The global voice assistant market is predicted to touch USD 7.8 billion at a 39% CAGR over the forecast period (2017-2023), states the new Market Research Future (MRFR) report. Voice assistant, simply put, are programs which can perform multiple tasks from scheduling an appointment to placing an order and more.

They combine specialized software, microphones, and computer chips which listens to specific spoken words from a person and reverts with a voice which they select. Voice Assistant Market have a wide range of application in numerous end user verticals such as individual users, small and medium enterprises, and large enterprises.

Various factors are propelling the voice assistant market growth. These factors, as stated by the MRFR report, include growing proclivity towards automation and IoT, growing demand for smartphone, higher penetration of the internet and broadband connections, and increased instances of voice searches. Additional factors escalating the growth of the market include growing adoption of smart homes, increasing use of voice recognition and speech recognition technologies in devices, and enhanced customer experience.

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Major Key Players:
Leading players profiled in the voice assistant market report include Nokia Networks (Finland), Nuance Communications (US), Creative Virtual Ltd. (US), Next IT Corporation (UK), Orange SA (France), Samsung Group (South Korea), Microsoft Corporation (US), Apple, Inc. (US), Google, Inc. (US), and Amazon, Inc. (US).

July 2019: Pandora had unveiled its Alexa-style voice assistant this January in collaboration with tech partner SoundHound for coming up with a “Hey Pandora” voice-control feature in the mobile application. Six months later, this feature will finally roll out to all Pandora mobile users on Android and iOS, no matter they are on the subscription or free tiers of the service.

Market Segmentation:
The Market Research Future voice assistant market report provides a wide segmental analysis of the voice assistant market based on technology, application, and end user.
• Based on technology, the voice assistant market is segmented into voice recognition, text-to-speech recognition, natural language processing, speaker-independent systems, speaker-dependent systems, speech recognition system, and speech recognition. Of these, the text-to-speech recognition segment will have the largest share in the market over the forecast period.
• Based on application, the voice assistant market is segmented into contact centers, websites, messenger bots, and others. Of these, the websites segment will dominate the market over the forecast period. This will be followed by the messenger bots segment that is predicted to have the highest growth over the forecast period.
• Based on end user, the voice assistant market is segmented into large enterprises, small and medium enterprises, and individual users. Of these, the individual user segment will lead the market over the forecast period. This is owing to the growing popularity of Siri and Alexa. Improved AI and other infrastructure-oriented advancements too are contributing to the market growth.

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Regional Analysis:
Based on the region, the voice assistant market report covers growth opportunities and the latest trends across Europe, North America, Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will dominate the market over the forecast period. This is owing to advancements in technology, rising use of mobile devices and the internet, and the presence of leading market players. Mexico, Canada, and the USA are the key contributors in this region.

The voice assistant market in the APAC region is predicted to grow at the fastest pace over the forecast period. This is owing to rising disposable income, technological advancement, high density of population, and increasing disposable income. Japan, China, and India are the key contributors in this region.

The voice assistant market in Europe is predicted to have significant growth over the forecast period. This is owing to technological advancements and increasing use of mobile devices and the internet. The UK, Germany, and France are the key contributors in this region.

The voice assistant market in the Rest of the World is predicted to grow gradually over the forecast period. This is owing to the fact that most countries are poor, and there is also a lack of education, awareness, skilled professionals, technological advancement, and the right infrastructure.

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