The global voice assistant application market is expected to post a CAGR close to 28% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has announced its latest market research report titled global voice assistant application market 2019-2023. (Graphic: Business Wire)
Globally, the number of mobile subscribers has increased rapidly, and end-users are opting for technologically advanced mobile devices for both personal and professional use. This has led to an increase in the use of advanced assistive technologies such as voice assistant and biometric recognition.. Moreover, digital business support systems for telecommunication, BFSI, online gaming, and healthcare support service providers in reducing the complexities associated with developing and designing network and order management processes with the use of voice assistant application. Thus, such benefits are expected to boost market growth during the forecast period.
As per Technavio, the integration of voice-controlled personal assistants with kitchen appliances will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global voice assistant application market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Voice Assistant Application Market: Integration of Voice-Controlled Personal Assistants with Kitchen Appliances
Various vendors are offering smart kitchen appliances that are compatible with voice-controlled personal assistants such as Google Assistant and Amazon Alexa. LG Electronics Inc. (LG Electronics) also offers a smart refrigerator compatible with voice-controlled personal assistants. Several other features can be performed with voice-controlled personal assistants such as playing music, streaming videos, and receiving news updates. These features make the kitchen experience more dynamic. The voice-controlled personal assistants also allow users to operate other kitchen appliances without touching them. Various vendors operating in the global smart kitchen appliance market are collaborating with different voice-controlled personal assistant service/platform providers, such as Alphabet and Amazon, to integrate the feature of voice assistance with their smart kitchen appliances. Thus, such increased integration of voice-controlled features in smart kitchen appliances is expected to drive the adoption of smart kitchen appliances during the forecast period.
“Apart from the integration of voice-controlled personal assistants with kitchen appliances, digital transformation, the growing demand for smart homes and development of smart cities, are some other major factors that will boost the growth of the market,” says a senior analyst at Technavio.
Global Voice Assistant Application Market: Segmentation Analysis
This market research report segments the global voice assistant application market by end-user (individual users, SMEs, and large enterprises) and geographical regions (North America, Europe, APAC, MEA, and South America).
The North American region led the market in 2018, followed by Europe, APAC, MEA, and South America, respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to faster adoption of technologies across the industries in the region.
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Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
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- Market positioning of vendors
- Competitive scenario
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