Voice Assistant Market Analysis, Growth Opportunities and Recent Trends by Leading Manufacturers & Regions

Different application areas of voice assistant software are contact centers, messenger bots, and websites. Some other application areas are smartwatches, smartphones, smart speakers, and laptops. Out of these, the largest demand for voice assistant software was created for messenger bots during 2014–2019. The reasons for this are the rising utilization of online platforms for buying products and surging penetration of the internet. 

The U.S. voice assistant market is expected to lead the regional market on the basis of geography. The Asia-Pacific region is projected to witness the fastest growth in demand for voice assistant software in the coming years because of the increasing number of contact centers and rising penetration of smartphones in the region.

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The fastest growth in demand for voice assistant software is predicted to be witnessed for the contact centers application during the forecast period, as the integration of voice assistant solutions in contact centers aid in understanding customer insights in a better way. A major reason behind the rising popularity of voice assistants is the increasing need for enhanced customer experience. Voice assistant technology improves user experience by providing proper assistance in minimal time. 

Users expect quick and relevant answers from enterprises while making use of voice search. Attributed to this, the industry players are increasingly collaborating with voice assistant solution providers for enhancing customer experience. This is projected to result in an increased demand for voice assistant services and solutions in the coming years.  

When geography is taken into consideration, North America generated the largest demand for voice assistant software during 2014–2019 and the situation is predicted to be the same during the forecast period as well, owing to the changing lifestyle of people and swift adoption of technologies such as deep learning, machine learning, cognitive computing, and NLP.