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Voice Assistant Market will experience the highest growth rate of 39.27% and expected to reach USD 7.8 Billion by 2023

Press release   •   May 28, 2019 04:06 EDT

Global Voice Assistant Market is anticipated to the valuation of approx. USD 7.8 Billion by the year 2023, at 39.27% CAGR growth rate during the estimated period 2017-2023.

The new research from Ameco Research on Voice Assistant Market Report for 2023 intends to offer target audience with the fresh outlook on market and fill in the knowledge gaps with the help of processed information and opinions from industry experts. The information in the research report is well-processed and a report is accumulated by industry professionals and seasoned experts in the field to ensure of the quality of research.

The research is backed by extensive and in-depth secondary research which involves reference to various statistical databases, national government documents, relevant patent and regulatory databases, news articles, press releases, company annual reports, webcasts, financial reports, and a number of internal and external proprietary databases. This estimated data is cross-checked with industry experts from various leading companies in the market. After the entire authentication process, these reports are shared with subject matter experts (SMEs) for adding further value and to gain their insightful opinion on the research. With such robust process of data extraction, verification, and finalization, we firmly endorse the quality of our research. With such extensive and in-depth research and comprehensive coverage of information, it is always a possibility of clients finding their desired information in the report with enclosure of key components and valuable statistics in all regards.

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Voice Assistant Market, By Technology (Speech Recognition, Text-to-Speech Recognition, Voice Recognition), Application (Messenger Bots, Websites, Contact Centers) and End User (Individual Users, SMEs, Large Enterprises) - Forecast 2023

Market Analysis

For performing a range of various tasks, the voice assistant software is used. This is a kind of software program which directly responds to the voice commands. They can locate an opening in a customer's date-book to plan an arrangement, submit an online request for substantial merchandise, and go about as a hands-free facilitator for messaging, among many, different errands. The global voice assistant market is anticipated to the valuation of approx. USD 7.8 Billion by the year 2023, at 39.27% CAGR growth rate during the estimated period 2017-2023.

Main factors driving the development of voice assistant market are expanding cases of voice searches and the higher entrance of broadband and web connections. Also, the growing adoption of the smart homes is another factor augmenting the development of voice assistant market. Voice recognition and speech recognition are being utilized in gadgets that are implemented in smart homes.

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Market Segmentation

Voice assistant market has been divided on the basis of application, technology, end user and regional demand. The application segment is divided into websites, messenger bots, and contact centers. Based on its technology, the global market is divided as Speech Recognition, Speaker Dependent Systems, Natural Language Processing (NLP), Speech Recognition System, Text-to-Speech Recognition, Speaker Independent Systems, Voice Recognition. On the basis of the end-user industry, the global voice assistant market is classified as Individual Users, Large Enterprises, SMEs.

Regional Analysis

Geographically, the global voice assistant market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.

Major Players

The prominent players in the global voice assistant market include brand names like Amazon, Inc. (U.S.), Apple, Inc. (U.S.), Google, Inc. (U.S.), Microsoft Corporation (U.S.), Orange S.A. (France), Samsung Group (South Korea), Next IT Corporation (U.K.) , Nuance Communications (U.S.), Creative Virtual Ltd. (U.S.), Nokia Networks (Finland) among others.

Available customization:

With the given market information, Ameco research offers customization's in line with the company's specific wishes. The following customization choices unit of measurement accessible for the report:
Regional and country-level analysis of the Voice Assistant Market, by end-use.
Detailed analysis and profiles of additional market players.

Table of Contents

Voice Assistant Market, By Technology, Application and End User - Forecast 2023

1 Research Methodologies
1.1 Research Process
1.2 Primary Research
1.3 Secondary Research
1.4 Forecast Model
1.4.1 Market Size Estimation

2 Market Dynamics
2.1 Market Drivers
2.1.1 Increasing Instances of Voice Search
2.1.2 Increasing Adoption of Smart Homes
2.1.3 High Demand for Self Service Applications
2.2 Market Restraints
2.2.1 High Costs
2.2.2 Integration of Devices can be Difficult
2.3 Market Opportunity
2.3.1 Home Automation is Fueling the Growth of Voice Assistant Market
2.3.2 Artificial Intelligence is Driving the Voice Assistant Market

3 Executive Summary

4 Market Factor Analysis
4.1 Voice Assistant Supply Chain
4.2 Porter’s Five Forces Analysis

5 Global Voice Assistant Technology Market, By Technology
5.1 Introduction
5.1.1 Market by Sub-segment
5.1.1.1 Speech Recognition
5.1.1.1.1 Speech Recognition System
5.1.1.1.1.1 Speaker Dependent System
5.1.1.1.1.2 Speaker Independent System
5.1.1.1.2 Natural Language Processing
5.1.1.2 Text to Speech Recognition
5.1.1.3 Voice Recognition
5.1.1.4 Others

6 Global Voice Assistant Market, By Application
6.1 Introduction
6.1.1.1 Messenger Bots
6.1.1.2 Websites
6.1.1.3 Contact Centers
6.1.1.4 Others

7 Global Voice Assistant Market, By End-User
7.1 Introduction
7.1.1.1 Individual Users
7.1.1.2 SMEs
7.1.1.3 Large Enterprises
7.1.1.4 Others

8 Global Voice Assistant Market, By Region
8.1.1 North America
8.1.2 Europe
8.1.3 Asia-Pacific
8.1.4 ROW

9 Competitive Landscape
9.1 Market Share Analysis
9.2 Company Profiles
9.2.1 AMAZON, INC.
9.2.1.1 Business Overview
9.2.1.2 Product/Services Offering
9.2.1.3 Business Strategy
9.2.1.4 SWOT Analysis
9.2.2 GOOGLE, INC.
9.2.2.1 Business Overview
9.2.2.2 Product/Services Offering
9.2.2.3 Business Strategy
9.2.2.4 SWOT Analysis
9.2.3 APPLE, INC.
9.2.3.1 Business Overview
9.2.3.2 Product/Services Offering
9.2.3.3 Business Strategy
9.2.3.4 SWOT Analysis
9.2.4 MICROSOFT CORPORATION
9.2.4.1 Business Overview
9.2.4.2 Product/Services Offering
9.2.4.3 Business Strategy
9.2.4.4 SWOT Analysis
9.2.5 SAMSUNG ELECTRONICS
9.2.5.1 Business Overview
9.2.5.2 Product/Services Offering
9.2.5.3 Business Strategy
9.2.5.4 SWOT Analysis
9.2.6 ORANGE SA
9.2.6.1 Business Overview
9.2.6.2 Product/Services Offering
9.2.6.3 Business Strategy
9.2.6.4 SWOT Analysis
9.2.7 NEXT IT CORPORATION
9.2.7.1 Business Overview
9.2.7.2 Product/Services Offering
9.2.7.3 Business Strategy
9.2.7.4 SWOT Analysis
9.2.8 CREATIVE VIRTUAL LTD.
9.2.8.1 Business Overview
9.2.8.2 Product/Services Offering
9.2.8.3 Business Strategy
9.2.8.4 SWOT Analysis
9.2.9 NUANCE COMMUNICATIONS
9.2.9.1 Business Overview
9.2.9.2 Product/Services Offering
9.2.9.3 Business Strategy
9.2.9.4 SWOT Analysis
9.2.10 NOKIA NETWORKS
9.2.10.1 Business Overview
9.2.10.2 Product/Services Offering
9.2.10.3 Business Strategy
9.2.10.4 SWOT Analysis

10 Appendix
10.1 Definition
10.2 Scope of the Study
10.2.1 Research Objective
10.2.2 Assumption
10.2.3 Limitation

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