Global Voice Assistant Application Market was estimated to be US$ 1058.23 Mn in 2018 and is expected to reach US$ 12166.82 Mn by 2027 growing at a CAGR of 31.3% over the Forecast Period

As awareness of the benefits of cloud-based solutions increases, cloud deployments for voice assistant applications are expected to increase tremendously. As multiple organizations migrate to private or public clouds, solution providers are focusing on developing powerful cloud-based solutions for their clients. The cloud delivery model offers companies a variety of benefits, including scalability, flexibility, fast time to market, and low cost. Therefore, small businesses are expected to adopt many cloud-based voice-enabled solutions during the forecast period.

For instance, Lamps Plus, Inc., a home goods retailer linked chatbots to voice-assistant technology, which allows customers to ask questions about the product, track orders, and product returns. This increases the passage capacity for processing customer orders and requests, which is among the key factors anticipated to drive the growth of voice assistant application market over the forecast period.

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Top countries contributing to the growth of the Voice Assistant application market include the United States and Canada. Companies in many parts of the region, particularly in the United States, are taking advantage of artificial intelligence (AI), machine learning (ML), and deep learning technologies as part of their ongoing business processes. Each country has a well-established economy, allowing voice-assisted application vendors to invest in new technologies. The region is also considered the center of innovation where IT giants launch new products and active collaboration with the market.

The detailed research study provides qualitative and quantitative analysis of voice assistant application market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

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Key Findings of the Report: 
  • In terms of revenue, global voice assistant application market is expected to reach US$ 12166.82 Mn by 2027 owing to progression in natural language processing (NLP) and automated speech recognition (ASR) technologies, introduction of Omni-channel platform, and high adoption of voice technology among millennials.
  • On the basis of enterprise size, small and medium enterprise segment is expected to witness highest CAGR over the forecast period owing to increasing adoption of cloud-based solutions across SME’s as it offers scalability, flexibility, faster route to market, and lower cost.
  • On the basis of demography, millennial segment is projected to hold the largest market size, followed by adults during the forecast period.
  • Some of the players operating in the voice assistant application market Apple, Inc., Amazon Web Services, Inc., Baidu, Inc, Google, LLC, IBM Corp., Microsoft, Motorola Solutions, Inc., Nuance Communications, Inc., Oracle, Orange, Orbita, Inc.,, Inc., SAMSUNG ELECTRONICS CO., LTD, SAP SE, SAS Institute Inc., Verbio Technologies, S.L. amongst others.
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  • By Enterprise Size
    • Small and Medium Enterprise
    • Large Enterprise
  • By Type of Device
    • Smartphones
    • Laptop/ Tablets/Desktop
    • Speakers
    • Connected Vehicles
    • Wearable
    • Others
  • By Demography
    • Millennial
    • Adults
    • Elderly
  • By Component
    • Solutions
      • Cloud based
      • On-Premises
    • Services
      • Voice Consulting
      • Implementation
      • Training and Support
    • By Vertical
      • Residential
      • Commercial
        • Media & Entertainment
        • Financial Services
        • Automotive
        • Travel & Hospitality
        • Government
        • Healthcare
        • Manufacturing
        • Retail and E-Commerce
        • Others
      • By Geography
      • North America
      • S
      • Canada
      • Mexico
      • Rest of North America
      • Europe
      • France
      • The UK
      • Spain
      • Germany
      • Italy
      • Nordic Countries
        • Denmark
        • Finland
        • Iceland
        • Sweden
        • Norway
      • Benelux Union
        • Belgium
        • The Netherlands
        • Luxembourg
      • Rest of Europe
      • Asia Pacific
      • China
      • Japan
      • India
      • New Zealand
      • Australia
      • South Korea
      • Southeast Asia
        • Indonesia
        • Thailand
        • Malaysia
        • Singapore
        • Rest of Southeast Asia
      • Rest of Asia Pacific
      • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Egypt
      • Kuwait
      • South Africa
      • Rest of Middle East & Africa
      • Latin America
      • Brazil
      • Argentina
      • Rest of Latin America
Get the Full Access of this Report@ About Absolute Markets Insights: Contact Us: Company: Absolute Markets Insights Contact Name: Shreyas Tanna Phone: +91-740-024-2424 Email id: Website: Global Voice Assistant Application market analysis,  Global Voice Assistant Application market Trends,  Global Voice Assistant Application market Share,  Global Voice Assistant Application market Size,  Global Voice Assistant Application market Forecasts,  Global Voice Assistant Application market sales,  Global Voice Assistant Application market strategies,  Global Voice Assistant Application market demand