PUBLISHER: The Business Research Company | PRODUCT CODE: 1678618
PUBLISHER: The Business Research Company | PRODUCT CODE: 1678618
A Voice Assistant employs speech recognition, natural language processing, and AI technology to interact and respond to human commands.
The fundamental elements of voice assistant applications encompass solutions and services. Integrating voice assistants such as Alexa, Google Assistant, and Siri into digital products or services enables an additional communication channel for customers. These applications can be deployed either on-premises or in the cloud and find utility across web and mobile applications. They're utilized in diverse sectors such as banking, financial services, insurance (BFSI), healthcare, retail, e-commerce, media, entertainment, telecom, IT, manufacturing, automotive, education, travel, hospitality, and various other industries.
The voice assistant application market research report is one of a series of new reports from The Business Research Company that provides voice assistant application market statistics, including voice assistant application industry global market size, regional shares, competitors with a voice assistant application market share, detailed voice assistant application market segments, market trends and opportunities, and any further data you may need to thrive in the voice assistant application industry. This voice assistant application market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The voice assistant application market size has grown exponentially in recent years. It will grow from $5.61 billion in 2024 to $7.26 billion in 2025 at a compound annual growth rate (CAGR) of 29.4%. The growth in the historic period can be attributed to the proliferation of smart devices, integration into smart home ecosystems, the rise of virtual assistants in business.
The voice assistant application market size is expected to see exponential growth in the next few years. It will grow to $23.3 billion in 2029 at a compound annual growth rate (CAGR) of 33.9%. The growth in the forecast period can be attributed to integration with wearable devices, healthcare applications and voice commands, multilingual and multimodal capabilities, voice commerce and e-commerce integration. Major trends in the forecast period include rise of voice-enabled healthcare solutions, integration with in-car systems, customization and personalization, voice assistants in business and enterprise.
The increasing prevalence of voice-enabled devices is driving the growth of the voice assistant application market. These voice-activated devices recognize spoken commands and inquiries, often using text-to-speech technology to deliver responses. Over time, voice activation technology has enhanced customer assistance, improved customer experience management, and boosted productivity. Additionally, applications featuring voice assistants like Alexa, Siri, Google Assistant, and Cortana have further enriched customer interactions. For example, in Fall 2022, 65% of French speakers reported using an Internet-connected TV, marking a 4-point increase from Fall 2021, according to the Canadian Broadcasting Corporation, a Canada-based broadcasting company.
The increasing adoption of cloud-based solutions is anticipated to drive the growth of the voice assistant application market in the future. Cloud-based solutions encompass programs, storage options, on-demand services, computer networks, and other services accessible through a shared cloud computing framework via the internet. These solutions provide the essential infrastructure, processing power, and storage required for voice assistant applications to function effectively, facilitating seamless interactions, data processing, and scalability. For instance, in September 2022, a report from Google Cloud, a US-based cloud computing service, indicated that the use of multiple public clouds rose by 26% in 2022, up from 21% in 2021. Additionally, the adoption of hybrid cloud solutions also grew significantly, increasing from 25% in 2021 to 42.5% in 2022. Therefore, the expanding growth of cloud-based solutions is propelling the voice assistant application market.
AI-based voice assistants are gaining traction in the voice assistant application market. Companies such as Athenahealth introduced athenaOne in June 2022, an AI-based voice assistant technology. This iOS-based mobile gadget facilitates hands-free clinical duties for healthcare workers, expediting information retrieval and enabling efficient patient interactions.
Major players in the voice assistant application market are focusing on advanced solutions, including male voice assistants, to improve user experience and enhance global accessibility. Voice assistance entails providing a voice-controlled digital assistant for interaction and command execution. For instance, in May 2024, Google, a US-based IT corporation, launched an AI-powered smart voice assistant that incorporates features such as Gemini, PaliGemma, and Gemma 2. Gemini is an advanced AI platform designed to enhance online commerce and browsing by offering AI-generated search summaries for quicker access to information, thereby transforming user interactions and impacting SEO strategies. PaliGemma, the inaugural vision-language model in the Gemma family, focuses on image-related tasks such as captioning and visual Q&A, expanding AI applications for developers. Meanwhile, Gemma 2 boasts enhanced performance with 27 billion parameters, enabling versatile deployment across various scenarios, underscoring Google's commitment to advancing its AI technologies.
In April 2023, Voices, a US-based voice marketplace, acquired Voices.ai for an undisclosed amount. This acquisition is expected to strengthen Voices' artificial intelligence capabilities, particularly in AI-driven voice solutions. By leveraging the advanced technology of Voices.ai, which is a US-based voice development platform designed for developers of voice applications, Voices aims to enhance its voice-over offerings, improving efficiency and scalability across various sectors, including media, entertainment, and advertising. This strategic move reflects Voices' commitment to advancing its capabilities in the rapidly evolving voice technology landscape.
Major companies operating in the voice assistant application market include Apple Inc., Google LLC, Samsung Group, Amazon Web Services, IBM Corporation, Microsoft Corporation, Cisco Systems Inc., Orange S.A, Oracle Corporation, SAP SE, Salesforce Inc., Baidu Inc., Avaya LLC, Verbio AG, Writer, Nuance Communications Inc., Verint Systems, Inbenta, SoundHound AI Inc., Kata.ai, Let's Nurture Infotech Pvt Ltd., Aivo, Rasa, Avaamo, Zaion, Mindsay, Creative Virtual, Orbita, Slang Labs, Clinc, Uniphore, Cleo AI Ltd., Clarigent Health, Datch
North America was the largest region in the voice assistant application market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the voice assistant application market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the voice assistant application market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The voice assistant application market includes revenues earned by entities by providing application solutions that use voice recognition, speech synthesis, and natural language processing to provide a service through a specific application. A Voice assistant, also called an intelligent personal assistant or connected speaker, can conduct tasks or provide services for a person based on instructions or questions. It is a new type of product marketed by Apple, Amazon, and Google and is based on natural language speech recognition. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Voice Assistant Application Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on voice assistant application market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for voice assistant application ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The voice assistant application market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.