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The global voice assistant market is expected to grow at a CAGR of 28.5% during the forecast period with its market size predicted to reach USD 6.2 billion by 2030. Globally, voice assistant industry players are leveraging market growth through product partnerships, mergers & acquisitions, and geographic expansion. For example, in November 2018, Microsoft Corporation acquired XOXCO Inc., to enhance its approach to democratizing AI development, dialog and conversation, and integration of conversational experiences.

Global Voice Assistant Market Segmentation and Key Players

Segment / Key Players	Categorization
Component	Solutions, Services [Professional, Managed]
Deployment	On-Premises, Cloud
Industry Vertical	BFSI, Retail and E-Commerce, Healthcare, Automotive, Others
Technology	Natural Language Processing, Speech Recognition, Voice Recognition, Text-to-Speech Recognition
Application	Messenger Bots, Websites, Contact Centers, Others
End User	SMEs, Large Enterprises, Individuals
Key Players	IBM Corporation, Salesforce.com Inc., Amazon.com Inc., Apple Inc., Microsoft Corporation, Verint Systems Inc., Nokia Corporation, Alphabet Inc., Orange SA, and Samsung Electronics Co. Ltd.

The BFSI category held the largest share of the voice assistant market in 2023

Browse Market Insight and In-depth TOC on "Global Voice Assistant Market - Analysis and Forecast (2025-2030)"

Based on vertical, the voice assistant market is segmented into BFSI, retail and e-commerce, healthcare, automotive, and others. Among these segments, the BFSI category held the largest share in the market in 2018. This is attributed to the high demand for financial institutes with AI-powered voice assistants to increase customer experience and be inclined toward digitalization.

However, the healthcare industry is anticipated to witness the fastest growth in the market during the forecast period owing to the rising adoption of the Internet of things (IoT), the growing focus on patient engagement, and a growing number of chronic disorders.

Based on end users, the voice assistant market is segmented into SMEs, large enterprises, and individuals. Among these segments, the large enterprises category held the largest share of the market in 2018. This is attributed to the early shift of enterprises toward automation and the need to manage huge amounts of data in less time. 

However, amid of current COVID-19 pandemic situation government as well as SMEs are furiously investing in technologies such as voice assistance, Chabot, NLP, etc. Recently, in April 2020 a French research institute launched AI-based voice assistants to help COVID-19 Patients. With the rising cases of COVID-19, the voice assistant has found its way in the healthcare sector. Similar features have been added in the form of a host of rapid upgrades to Amazon’s Alexa, Apple’s Siri, and Google’s Home Assistant for people's virtual assistance.

Geography Insight

Geographically, North America has accounted for the largest share in the voice assistant market, globally and is predicted to grow significantly during the forecast period. The growth of this market is attributed to the existence of a large number of established players in the U.S., an increasing number of investments related to the adoption of AI, an increasing preference for automated work operations in contact centers, huge investment in IT, and increasing adoption of emerging technologies, such as machine learning, natural language processing, and deep learning in the region.

Competitive Insight

Some of the key players operating in the global voice assistant market are IBM Corporation, Salesforce.com Inc., Amazon.com Inc., Apple Inc., Microsoft Corporation, Verint Systems Inc., Nokia Corporation, Alphabet Inc., Orange SA, and Samsung Electronics Co. Ltd. These players are adopting several growth strategies, such as new service launches, and partnerships to expand their presence further during COVID-19 impact.

Key Takeaway from the Report:

Among all the components, the solutions category held a larger share of the market in 2018. However, the service category is expected to witness faster growth during the forecast period.

Of all the verticals, the healthcare category is expected to witness faster growth during the forecast period.
Of all the deployments, the on-premises category held the largest share of the voice assistant market in 2018.

Among all the technologies, the NLP category is expected to witness faster growth during the forecast period.
Among all the applications, the contact centers category is anticipated to witness the fastest growth in the market during the forecast period.

Among all the end-users, the large enterprises category held the largest share of the market in 2018.

The Report Offers:

• Historical market estimate for the years 2018–2023 and forecast for the years 2025–2030
• Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
• Market insights by in-depth segmentation with industry dynamics.
• Competitive analysis and benchmarking of the industry leaders and their product offerings
• Profiles of leading players and innovators, their financial overview, and product portfolio
• Analysis of key industry trends and recent developments
• Value chain analysis and distribution channel analysis with opportunity assessment
• Market share analysis of major players

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The report provides the market value for the base year 2023 and a yearly forecast till 2030 for revenue (USD Billion). The report segments the global voice assistant market based on component, deployment, vertical, technology, application, end-user, and region.

Global Voice Assistant Market Coverage

COVID-19 Impact on Voice Assistant Market

Pre-COVID-19 Market Size and Forecast to 2030

Post-COVID-19 Market Size and Forecast to 2030

Component Insight and Forecast 2025-2030

• Solutions
• Services
  • Professional
  • Managed

Deployment Insight and Forecast 2025-2030

• On-Premises
• Cloud-Based

Vertical Insight and Forecast 2025-2030

• Banking, Financial Services, and Insurance (BFSI)
• Retail and E-commerce
• Healthcare
• Automotive
• Others

Technology Insight and Forecast 2025-2030

• Natural Language Processing (NLP)
• Speech Recognition
• Voice Recognition
• Text-to-Speech Recognition

Application Insight and Forecast 2025-2030

• Messenger Bots
• Websites
• Contact Centers
• Others

End-User Insight and Forecast 2025-2030

• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprises
• Individuals

Geographical Segmentation

Voice Assistant Market by Region

North America

• By Component
• By Deployment
• By Vertical
• By Technology
• By Application
• By End-User
• By Country – U.S., Canada, and Mexico

Europe

• By Component
• By Deployment
• By Vertical
• By Technology
• By Application
• By End-User
• By Country – Germany, U.K., France, Ireland, and Rest of Europe

Asia-Pacific (APAC)

• By Component
• By Deployment
• By Vertical
• By Technology
• By Application
• By End-User
• By Country – China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific

Rest of the World (RoW)

• By Component
• By Deployment
• By Vertical
• By Technology
• By Application
• By End-User
• By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries