According to a new market research report published by Global Insight Services “ Voice Assistant Application Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
A voice assistant application is a software application that is designed to recognize and respond to voice commands. Voice assistants are often used to perform tasks such as setting alarms, making phone calls, sending text messages, and playing music. Many voice assistant applications are also able to provide information such as weather forecasts and search results.Voice assistant applications are becoming increasingly popular, with more people using them to perform tasks such as setting alarms, adding items to shopping lists, and playing music. The technology is also becoming more sophisticated, with voice assistants now able to understand natural language and provide more accurate results.
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Top Key Players in Voice Assistant Application market: International Business Machines Corporation (IBM), Alphabet Inc., Amazon Web Services Inc., Microsoft Corporation, Apple Inc., Baidu Inc., Salesforce.com Inc., Verbio Technologies S.L., Samsung Electronics Co. Ltd., and Oracle Corporation.
Key Trends
Increased accuracy: Voice assistants are becoming more accurate at understanding natural language, thanks to advances in artificial intelligence (AI) and machine learning. This means that users are more likely to get the results they want when they use voice commands.More features: Voice assistants are gaining more features and functionality. For example, some voice assistants can now control smart home devices such as lights and thermostats. This means that users can perform a wider range of tasks using just their voice.
Key Drivers
The key drivers of Voice Assistant Application market are:The increasing popularity of voice-activated assistants such as Amazon Alexa, Google Assistant, and Apple SiriThe rising trend of hands-free computing and the increasing use of smart speakersThe increasing adoption of voice assistant applications in automobilesThe availability of voice assistant applications in multiple languagesThe popularity of voice-activated assistants is driven by the convenience and hands-free nature of these applications. Smart speakers are becoming increasingly popular in the home, and many automobile manufacturers are now offering voice assistant applications in their vehicles. The availability of voice assistant applications in multiple languages is another key driver of market growth.
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Market Segments
The voice assistant application market report is bifurcated on the basis of component, deployment mode, channel integration, and application, industry vertical and region. On the basis of component, it is segmented into solution and services. By deployment mode, it is analyzed across on-premises and cloud. By channel integration, it is categorized websites, mobile applications, smart speakers, and social media. By application, it is divided into web application, mobile application, and smart devices. By industry vertical, it is spread across BFSI, healthcare, retail & e-commerce, media & entertainment, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.
Reasons to buy Voice Assistant Application Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Key Questions answered in the report:
- How is the market structured and what the key drivers and trends of this industry?
- How is the market segmented and what is the size of each segment?
- Which segments and geographies provide best growth opportunities?
- What’s the competitive landscape and positioning of players in this market?
- What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
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