USD 70.40 Bn Growth Expected In Voice Assistant Application Market | North America To Account For Largest Market Share | Technavio

NEW YORK, March 24, 2022 /PRNewswire/ -- The global voice assistant application market size is set to increase by USD 70.40 billion between 2021 and 2026. Technavio expects the market to observe a YOY growth of 25.97% in 2022 and expand at a CAGR of 27.58% during the forecast period. The report provides an accurate analysis of the market size, current and future market scenarios, and YOY growth rates through 2026.

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The market is driven by factors such as digital transformation, the increasing popularity of autonomous vehicles, and the increasing adoption of technologically advanced mobile devices. However, factors such as data privacy and security concerns and system integration and interoperability issues will restrict the growth of the market.

Voice Assistant Application Market: Application Landscape

• By application, the market is analyzed across segments such as individual users, SMEs, and large enterprises.
• The individual users segment currently has the largest share of the market.
• The increasing adoption of smartphones and smart connected devices among individual users is driving the growth of the segment.
• Besides, factors such as the increasing use of digital content platforms such as over the top (OTT), the rising adoption of online gaming by individuals, and the use of voice assistant applications in these platforms in emerging economies such as India and China are contributing to the growth of the segment.
• The market growth in the segment will be significant during the forecast period.

Voice Assistant Application Market: Geographic Landscape

• By geography, North America is going to have lucrative growth during the forecast period.
• About 30% of the market's overall growth is expected to originate from North America.
• The increasing adoption of vehicle-to-everything (V2X) communication systems and advanced technologies, such as 5G, and the growing production of autonomous vehicles are driving the growth of the voice assistant application market in North America.
• Also, the growth in the automotive, healthcare, BFSI, and media and entertainment sectors are fostering the growth of the regional market.
• The US and Canada are the key markets for voice assistant applications in North America.

Companies Covered:

The global virtual assistant application market is fragmented. Factors such as the entry of new vendors, technological innovations, and increasing partnerships have intensified the competition levels in the market. Technavio identifies the following vendors as the dominant players in the market.

• Alphabet Inc.
• Amazon.com Inc.
• Apple Inc.
• Artificial Solutions International AB
• Baidu Inc.
• Huawei Investment and Holding Co. Ltd.
• International Business Machines Corp.
• Microsoft Corp.
• Nuance Communications Inc.
• Oracle Corp.
• Orbita Inc.
• Robin Labs
• RoboBot Studio
• Salesforce.com Inc.
• Samsung Electronics Co. Ltd.
• SAP SE
• SoundHound Inc.
• Verbio Technologies SL
• Voiceflow Inc.
• Xiaomi Corp.

What our reports offer:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers market data for 2020, 2021, until 2025
• Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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Table of Contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers
• Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026

• 4.3 Bargaining power of suppliers
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

• 5.1 Market segments
• Exhibit 24: Chart on Application - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Application - Market share 2021-2026 (%)

• 5.2 Comparison by Application
• Exhibit 26: Chart on Comparison by Application
• Exhibit 27: Data Table on Comparison by Application

• 5.3 Individual users - Market size and forecast 2021-2026
• Exhibit 28: Chart on Individual users - Market size and forecast 2021-2026 ($ billion)
• Exhibit 29: Data Table on Individual users - Market size and forecast 2021-2026 ($ billion)
• Exhibit 30: Chart on Individual users - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Individual users - Year-over-year growth 2021-2026 (%)

• 5.4 SMEs - Market size and forecast 2021-2026
• Exhibit 32: Chart on SMEs - Market size and forecast 2021-2026 ($ billion)
• Exhibit 33: Data Table on SMEs - Market size and forecast 2021-2026 ($ billion)
• Exhibit 34: Chart on SMEs - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on SMEs - Year-over-year growth 2021-2026 (%)

• 5.5 Large enterprises - Market size and forecast 2021-2026
• Exhibit 36: Chart on Large enterprises - Market size and forecast 2021-2026 ($ billion)
• Exhibit 37: Data Table on Large enterprises - Market size and forecast 2021-2026 ($ billion)
• Exhibit 38: Chart on Large enterprises - Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on Large enterprises - Year-over-year growth 2021-2026 (%)

• 5.6 Market opportunity by Application
• Exhibit 40: Market opportunity by Application ($ billion)

6 Customer Landscape

• 6.1 Customer landscape overview
• Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation
• Exhibit 42: Chart on Market share by geography 2021-2026 (%)
• Exhibit 43: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison
• Exhibit 44: Chart on Geographic comparison
• Exhibit 45: Data Table on Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026
• Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.4 Europe - Market size and forecast 2021-2026
• Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
• Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
• Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.5 APAC - Market size and forecast 2021-2026
• Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
• Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
• Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.6 Middle East and Africa - Market size and forecast 2021-2026
• Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
• Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
• Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.7 South America - Market size and forecast 2021-2026
• Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.8 US - Market size and forecast 2021-2026
• Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ billion)
• Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ billion)
• Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.9 China - Market size and forecast 2021-2026
• Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ billion)
• Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ billion)
• Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.10 UK - Market size and forecast 2021-2026
• Exhibit 74: Chart on UK - Market size and forecast 2021-2026 ($ billion)
• Exhibit 75: Data Table on UK - Market size and forecast 2021-2026 ($ billion)
• Exhibit 76: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 7.11 Germany - Market size and forecast 2021-2026
• Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ billion)
• Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ billion)
• Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.12 Canada - Market size and forecast 2021-2026
• Exhibit 82: Chart on Canada - Market size and forecast 2021-2026 ($ billion)
• Exhibit 83: Data Table on Canada - Market size and forecast 2021-2026 ($ billion)
• Exhibit 84: Chart on Canada - Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on Canada - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography
• Exhibit 86: Market opportunity by geography ($ billion)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges
• Exhibit 87: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
• Exhibit 88: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
• Exhibit 89: Overview on factors of disruption

• 9.4 Industry risks
• Exhibit 90: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 91: Vendors covered

• 10.2 Market positioning of vendors
• Exhibit 92: Matrix on vendor position and classification

• 10.3 Alphabet Inc.
• Exhibit 93: Alphabet Inc. - Overview
• Exhibit 94: Alphabet Inc. - Business segments
• Exhibit 95: Alphabet Inc. - Key news
• Exhibit 96: Alphabet Inc. - Key offerings
• Exhibit 97: Alphabet Inc. - Segment focus

• 10.4 Amazon.com Inc.
• Exhibit 98: Amazon.com Inc. - Overview
• Exhibit 99: Amazon.com Inc. - Business segments
• Exhibit 100: Amazon.com Inc. - Key news
• Exhibit 101: Amazon.com Inc. - Key offerings
• Exhibit 102: Amazon.com Inc. - Segment focus

• 10.5 Apple Inc.
• Exhibit 103: Apple Inc. - Overview
• Exhibit 104: Apple Inc. - Business segments
• Exhibit 105: Apple Inc. - Key news
• Exhibit 106: Apple Inc. - Key offerings
• Exhibit 107: Apple Inc. - Segment focus

• 10.6 Artificial Solutions International AB
• Exhibit 108: Artificial Solutions International AB - Overview
• Exhibit 109: Artificial Solutions International AB - Product / Service
• Exhibit 110: Artificial Solutions International AB - Key offerings

• 10.7 Baidu Inc.
• Exhibit 111: Baidu Inc. - Overview
• Exhibit 112: Baidu Inc. - Business segments
• Exhibit 113: Baidu Inc. - Key offerings
• Exhibit 114: Baidu Inc. - Segment focus

• 10.8 Huawei Investment and Holding Co. Ltd.
• Exhibit 115: Huawei Investment and Holding Co. Ltd. - Overview
• Exhibit 116: Huawei Investment and Holding Co. Ltd. - Business segments
• Exhibit 117: Huawei Investment and Holding Co. Ltd. - Key offerings
• Exhibit 118: Huawei Investment and Holding Co. Ltd. - Segment focus

• 10.9 International Business Machines Corp.
• Exhibit 119: International Business Machines Corp. - Overview
• Exhibit 120: International Business Machines Corp. - Business segments
• Exhibit 121: International Business Machines Corp. - Key offerings
• Exhibit 122: International Business Machines Corp. - Segment focus

• 10.10 Microsoft Corp.
• Exhibit 123: Microsoft Corp. - Overview
• Exhibit 124: Microsoft Corp. - Business segments
• Exhibit 125: Microsoft Corp. - Key news
• Exhibit 126: Microsoft Corp. - Key offerings
• Exhibit 127: Microsoft Corp. - Segment focus

• 10.11 Nuance Communications Inc.
• Exhibit 128: Nuance Communications Inc. - Overview
• Exhibit 129: Nuance Communications Inc. - Business segments
• Exhibit 130: Nuance Communications Inc. - Key offerings
• Exhibit 131: Nuance Communications Inc. - Segment focus

• 10.12 Oracle Corp.
• Exhibit 132: Oracle Corp. - Overview
• Exhibit 133: Oracle Corp. - Business segments
• Exhibit 134: Oracle Corp. - Key news
• Exhibit 135: Oracle Corp. - Key offerings
• Exhibit 136: Oracle Corp. - Segment focus

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist
• Exhibit 137: Inclusions checklist
• Exhibit 138: Exclusions checklist

• 11.3 Currency conversion rates for US$
• Exhibit 139: Currency conversion rates for US$

• 11.4 Research methodology
• Exhibit 140: Research methodology
• Exhibit 141: Validation techniques employed for market sizing
• Exhibit 142: Information sources

• 11.5 List of abbreviations
• Exhibit 143: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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