Voice Assistant Application Market

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Market Definition
           1.2.1 Market Segmentation
           1.2.2 Regions Covered
    1.3 Years Considered for the Study
    1.4 Currency Considered
    1.5 Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Research Data
           2.1.1 Breakup of Primaries
           2.1.2 Key Industry Insights
    2.2 Market Breakup and Data Triangulation
    2.3 Market Size Estimation
           2.3.1 Top-Down Approach
           2.3.2 Bottom-Up Approach
    2.4 Competitive Leadership Mapping Methodology
    2.5 Assumptions for the Study
    2.6 Limitations of the Study

3 Executive Summary (Page No. - 29)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Market Opportunities in the Global Voice Assistant Application Market
    4.2 Market By Deployment Mode, 2019
    4.3 Market in North America, By Component and Country
    4.4 Market in Europe, By Organization Size and Country
    4.5 Market in Asia Pacific, By Application and Country

5 Market Overview and Industry Trends (Page No. - 37)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Enhanced Customer Experience
                    5.2.1.2 Businesses Leveraging Social Media Platforms as A Prime Marketing Channel
                    5.2.1.3 Advancement in Nlp and Asr Ecosystem
                    5.2.1.4 Omni-Channel Deployment
           5.2.2 Restraints
                    5.2.2.1 Security and Privacy Concerns
           5.2.3 Opportunities
                    5.2.3.1 Adoption of Voice Assistants Across Verticals
                    5.2.3.2 Potential Untapped Markets
           5.2.4 Challenges
                    5.2.4.1 Low Accuracy in Voice-Based Virtual Assistants
                    5.2.4.2 Lack of Multilingual Support
    5.3 Ecosystem Analysis
    5.4 Regulatory Implications
           5.4.1 GDPr
           5.4.2 Hipaa
           5.4.3 Ftc
           5.4.4 Iso/Iec Jtc 1/Sc 42
    5.5 Use Cases
           5.5.1 Scheduling A Meeting
           5.5.2 Increasing User Engagement
           5.5.3 Enhancing Customer Experience
           5.5.4 Resolving Customer Queries Using Self-Service Tool
           5.5.5 Faster Query Resolutions

6 Voice Assistant Application Market By Component (Page No. - 46)
    6.1 Introduction
           6.1.1 Excerpts From Expert Interviews
    6.2 Solutions
           6.2.1 Standalone
                    6.2.1.1 Demand for Enhanced Customer Experience to Drive the Adoption of Standalone Voice Assistant Solution
           6.2.2 Integrated
                    6.2.2.1 Low Deployment Cost to Drive the Adoption of Integrated Voice Assistant Solution
    6.3 Services
           6.3.1 Consulting
                    6.3.1.1 Growing Demand for Implementing Voice Assistant Solutions to Boost the Consulting Services
           6.3.2 Implementation
                    6.3.2.1 Technicalities Involved in Implementing Voice Assistant Solutions to Boost the Implementation Services
           6.3.3 Training and Support
                    6.3.3.1 to Overcome the System-Related Issues Effectively, Voice Assistant Application Vendors to Offer Training and Support Services in the Market

7 Voice Assistant Application Market By Application (Page No. - 55)
    7.1 Introduction
           7.1.1 Excerpts From Expert Interviews
    7.2 Web Applications
           7.2.1 Increasing Adoption of Web Applications By Workforce to Drive the Growth of Market
    7.3 Mobile Applications
           7.3.1 Mobile Voice Assistant Applications to Improve User Experience as Well as Reduce Time to Find the Right Content
    7.4 Devices
           7.4.1 Voice Assistant Application Devices to Offer Multiple Interaction Channels, Consistent Services, and Help Reduce Cost

8 Voice Assistant Application Market By Deployment Mode (Page No. - 61)
    8.1 Introduction
           8.1.1 Excerpts From Expert Interviews
    8.2 On-Premises
           8.2.1 BFSI and Healthcare Increasingly Opting for On-Premises Solutions to Adhere to Government Regulations
    8.3 Cloud
           8.3.1 Reduced Operational Maintenance Cost to Boost the Cloud Deployment Mode

9 Voice Assistant Application Market By Organization Size (Page No. - 65)
    9.1 Introduction
           9.1.1 Excerpts From Expert Interviews
    9.2 Small and Medium-Sized Enterprises
           9.2.1 Flexible Pricing to Drive the Adoption of Voice Assistant Solutions in Small and Medium-Sized Enterprises
    9.3 Large Enterprises
           9.3.1 Need for Streamlining Business Processes to Drive the Adoption of Voice Assistant Solutions in the Large Enterprises

10 Voice Assistant Application Market By Vertical (Page No. - 69)
     10.1 Introduction
             10.1.1 Excerpts From Expert Interviews
     10.2 Banking, Financial Services, and Insurance
             10.2.1 Demand for Effortlessly Connecting With Customers to Provide Enhanced Customer Experience to Drive the Adoption of Voice Assistant Solutions in the BFSI Vertical
     10.3 Healthcare
             10.3.1 Voice Assistant Solutions to Improve Patient Experience and Engagement
     10.4 Retail and eCommerce
             10.4.1 Increasing Demand for Greater Customer Engagement to Fuel the Adoption of Voice Assistant Solutions in the Retail and eCommerce Sector
     10.5 Media and Entertainment
             10.5.1 Media and Entertainment Vertical Opting for Voice Assistant Solutions to Maximize Customer Satisfaction
     10.6 Telecom and IT
             10.6.1 Growing Demand for Real-Time Problem Solving to Boost the Adoption of Voice Assistant Solutions in the Telecom and It Vertical
     10.7 Manufacturing and Automotive
             10.7.1 Emergence of Connected and Smart Car to Shift the Focus of Stakeholders Toward Voice Assistant Solutions
     10.8 Education
             10.8.1 Improved Student and Teacher Engagement as Well as Training Programs to Drive the Implementation of Voice Assistant Solutions in the Education Sector
     10.9 Travel and Hospitality
             10.9.1 Automation of Booking Process to Increase the Adoption of Voice Assistant Solutions in the Travel and Hospitality Vertical
     10.10 Others

11 Voice Assistant Application Market By Region (Page No. - 83)
     11.1 Introduction
             11.1.1 Excerpts From Expert Interviews
     11.2 North America
             11.2.1 United States
                        11.2.1.1 Integration of Voice Assistant With Enterprise Applications to Drive the Growth of Market in the United States
             11.2.2 Canada
                        11.2.2.1 Need for Streamlining Business Processes to Drive the Growth of Market in Canada
     11.3 Europe
             11.3.1 United Kingdom
                        11.3.1.1 Favorable Government Conditions for AI Ecosystem to Fuel the Adoption of Voice Assistant Solutions in the United Kingdom
             11.3.2 Germany
                        11.3.2.1 Increasing Adoption of Voice Assistant Across Manufacturing and Automotive to Drive the Market in Germany
             11.3.3 France
                        11.3.3.1 Businesses are Receptive Toward Leveraging Capabilities of Voice-Enabled Virtual Assistant in France
             11.3.4 Rest of Europe
     11.4 Asia Pacific
             11.4.1 China
                        11.4.1.1 Advancement in Artificial Intelligence Ecosystem to Drive the Adoption of Voice Assistant Solutions in China
             11.4.2 Japan
                        11.4.2.1 Increase in Use of Voice Assistant in the Telecom and It Vertical to Fuel the Adoption of Voice-Based Virtual Assistant in Japan
             11.4.3 India
                        11.4.3.1 Growing Startup Ecosystem and Adoption of Artificial Intelligence in Mid-Sized Enterprises to Drive the Growth of Voice Assistant Application Market in India
             11.4.4 Rest of Asia Pacific
     11.5 Middle East and Africa
             11.5.1 Israel
                        11.5.1.1 Cross-Vertical Adoption of Virtual Assistant to Drive the Growth of Market in Israel
             11.5.2 United Arab Emirates
                        11.5.2.1 Digital Transformation to Drive the Adoption of Voice Assistant Solutions in the United Arab Emirates
             11.5.3 Rest of Middle East and Africa
     11.6 Latin America
             11.6.1 Brazil
                        11.6.1.1 Emergence of Startup Companies to Drive the Growth of Market in Brazil
             11.6.2 Mexico
                        11.6.2.1 Artificial Intelligence First Strategy to Fuel the Demand for Voice-Enabled Virtual Assistant Solutions in Mexico
             11.6.3 Rest of Latin America

12 Competitive Landscape (Page No. - 113)
     12.1 Competitive Leadership Mapping (Global)
             12.1.1 Visionary Leaders
             12.1.2 Innovators
             12.1.3 Dynamic Differentiators
             12.1.4 Emerging Companies
     12.2 Strength of Product Portfolio (21 Players)
     12.3 Business Strategy Excellence (21 Players)
     12.4 Competitive Leadership Mapping (Startups)
             12.4.1 Progressive Companies
             12.4.2 Responsive Companies
             12.4.3 Dynamic Companies
             12.4.4 Starting Blocks

13 Company Profiles (Page No. - 120)
     13.1 Introduction
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
     13.2 IBM
     13.3 Google
     13.4 AWS
     13.5 Microsoft
     13.6 Apple
     13.7 Baidu
     13.8 Nuance Communications
     13.9 Salesforce
     13.10 Verbio Technologies
     13.11 Samsung
     13.12 Oracle
     13.13 Sas
     13.14 Sap
     13.15 Orbita

*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.

14 Appendix (Page No. - 145)
     14.1 Discussion Guide
     14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.3 Available Customization
     14.4 Related Reports
     14.5 Author Details

List of Tables (72 Tables)

Table 1 United States Dollar Exchange Rate, 2016–2018
Table 2 Voice Assistant Application Market Size, By Component, 2017–2024 (USD Million)
Table 3 Solutions: Market Size By Type, 2017–2024 (USD Million)
Table 4 Standalone Market Size By Region, 2017–2024 (USD Million)
Table 5 Integrated Market Size By Region, 2017–2024 (USD Million)
Table 6 Services: Market Size By Type, 2017–2024 (USD Million)
Table 7 Consulting Market Size, By Region, 2017–2024 (USD Million)
Table 8 Implementation Market Size, By Region, 2017–2024 (USD Million)
Table 9 Training and Support Market Size, By Region, 2017–2024 (USD Million)
Table 10 Voice Assistant Application Market Size, By Application, 2017–2024 (USD Million)
Table 11 Web Applications: Market Size By Region, 2017–2024 (USD Million)
Table 12 Mobile Applications: Market Size By Region, 2017–2024 (USD Million)
Table 13 Devices: Market Size By Region, 2017–2024 (USD Million)
Table 14 Voice Assistant Application Market Size, By Deployment Mode, 2017–2024 (USD Million)
Table 15 On-Premises: Market Size By Region, 2017–2024 (USD Million)
Table 16 Cloud: Market Size By Region, 2017–2024 (USD Million)
Table 17 Market Size By Organization Size, 2017–2024 (USD Million)
Table 18 Small and Medium-Sized Enterprises: Market Size By Region, 2017–2024 (USD Million)
Table 19 Large Enterprises: Market Size By Region, 2017–2024 (USD Million)
Table 20 Voice Assistant Application Market Size By Vertical, 2017–2024 (USD Million)
Table 21 Banking, Financial Services, and Insurance: Market Size By Region, 2017–2024 (USD Million)
Table 22 Healthcare: Market Size By Region, 2017–2024 (USD Million)
Table 23 Retail and eCommerce: Market Size By Region, 2017–2024 (USD Million)
Table 24 Media and Entertainment: Market Size By Region, 2017–2024 (USD Million)
Table 25 Telecom and It: Market Size By Region, 2017–2024 (USD Million)
Table 26 Manufacturing and Automotive: Market Size By Region, 2017–2024 (USD Million)
Table 27 Education: Market Size By Region, 2017–2024 (USD Million)
Table 28 Travel and Hospitality: Market Size By Region, 2017–2024 (USD Million)
Table 29 Others: Market Size By Region, 2017–2024 (USD Million)
Table 30 Voice Assistant Application Market Size, By Region, 2017–2024(USD Million)
Table 31 North America: Market Size By Component, 2017–2024 (USD Million)
Table 32 North America: Market Size By Solution, 2017–2024 (USD Million)
Table 33 North America: Market Size By Service, 2017–2024 (USD Million)
Table 34 North America: Market Size By Application, 2017–2024 (USD Million)
Table 35 North America: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 36 North America: Market Size By Organization Size, 2017–2024 (USD Million)
Table 37 North America: Market Size By Vertical, 2017–2024 (USD Million)
Table 38 North America: Market Size By Country, 2017–2024 (USD Million)
Table 39 Europe: Voice Assistant Application Market Size, By Component, 2017–2024 (USD Million)
Table 40 Europe: Market Size By Solution, 2017–2024 (USD Million)
Table 41 Europe: Market Size By Service, 2017–2024 (USD Million)
Table 42 Europe: Market Size By Application, 2017–2024 (USD Million)
Table 43 Europe: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 44 Europe: Market Size By Organization Size, 2017–2024 (USD Million)
Table 45 Europe: Market Size By Vertical, 2017–2024 (USD Million)
Table 46 Europe: Market Size By Country, 2017–2024 (USD Million)
Table 47 Asia Pacific: Voice Assistant Application Market Size, By Component, 2017–2024 (USD Million)
Table 48 Asia Pacific: Market Size By Solution, 2017–2024 (USD Million)
Table 49 Asia Pacific: Market Size By Service, 2017–2024 (USD Million)
Table 50 Asia Pacific: Market Size By Application, 2017–2024 (USD Million)
Table 51 Asia Pacific: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 52 Asia Pacific: Market Size By Organization Size, 2017–2024 (USD Million)
Table 53 Asia Pacific: Market Size By Vertical, 2017–2024 (USD Million)
Table 54 Asia Pacific: Market Size By Country, 2017–2024 (USD Million)
Table 55 Middle East and Africa: Voice Assistant Application Market Size, By Component, 2017–2024 (USD Million)
Table 56 Middle East and Africa: Market Size By Solution, 2017–2024 (USD Million)
Table 57 Middle East and Africa: Market Size By Service, 2017–2024 (USD Million)
Table 58 Middle East and Africa: Market Size By Application, 2017–2024 (USD Million)
Table 59 Middle East and Africa: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 60 Middle East and Africa: Market Size By Organization Size, 2017–2024 (USD Million)
Table 61 Middle East and Africa: Market Size By Vertical, 2017–2024 (USD Million)
Table 62 Middle East and Africa: Market Size By Country, 2017–2024 (USD Million)
Table 63 Latin America: Voice Assistant Application Market Size, By Component, 2017–2024 (USD Million)
Table 64 Latin America: Market Size By Solution, 2017–2024 (USD Million)
Table 65 Latin America: Market Size By Service, 2017–2024 (USD Million)
Table 66 Latin America: Market Size By Application, 2017–2024 (USD Million)
Table 67 Latin America: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 68 Latin America: Market Size By Organization Size, 2017–2024 (USD Million)
Table 69 Latin America: Market Size By Vertical, 2017–2024 (USD Million)
Table 70 Latin America: Market Size By Country, 2017–2024 (USD Million)
Table 71 Evaluation Criteria
Table 72 Evaluation Criteria: Startups

List of Figures (44 Figures)

Figure 1 Voice Assistant Application Market: Research Design
Figure 2 Research Methodology
Figure 3 Market Top-Down and Bottom-Up Approaches
Figure 4 Competitive Leadership Mapping: Criteria Weightage
Figure 5 Market Holistic View
Figure 6 Market Growth Trend
Figure 7 Asia Pacific to Grow at the Highest Growth Rate During the Forecast Period
Figure 8 Businesses Leveraging Social Media Platforms as Prime Marketing Channel to Drive the Growth of Voice Assistant Application Market During the Forecast Period
Figure 9 Cloud Segment to Hold A Higher Share in the Voice Assistant Application Market in 2019
Figure 10 Solutions and United States to Account for the Highest Shares in the Market in 2019
Figure 11 Large Enterprises and United Kingdom to Account for the Highest Shares in the Market in 2019
Figure 12 Mobile Application and China to Account for the Highest Shares in the Market in 2019
Figure 13 Drivers, Restraints, Opportunities, and Challenges
Figure 14 Ecosystem of Virtual Assistants
Figure 15 Evolution of Voice Assistants
Figure 16 Deployment Channels
Figure 17 Services Segment to Grow at A Higher CAGR During the Forecast Period
Figure 18 Integrated Segment to Grow at A Higher CAGR During the Forecast Period
Figure 19 Implementation Segment to Grow at the Highest CAGR During the Forecast Period
Figure 20 Mobile Applications to Grow at the Highest CAGR During the Forecast Period
Figure 21 Cloud Segment to Register A Higher CAGR During the Forecast Period
Figure 22 Small and Medium Size Enterprises Segment to Register A Higher CAGR During the Forecast Period
Figure 23 Retail and eCommerce Vertical to Register the Highest CAGR During the Forecast Period
Figure 24 North America to Hold the Largest Market Size During the Forecast Period
Figure 25 India to Register the Highest CAGR During the Forecast Period
Figure 26 Asia Pacific to Account for the Highest CAGR in 2018
Figure 27 North America: Market Snapshot
Figure 28 Asia Pacific: Market Snapshot
Figure 29 Voice Assistant Application Market (Global) Competitive Leadership Mapping, 2019
Figure 30 Ranking of Key Players in the Market, 2019
Figure 31 Voice Assistant Application (Startups) Competitive Leadership Mapping, 2019
Figure 32 Ranking of Startups Players in the Voice Assistant Application Market, 2019
Figure 33 IBM: Company Snapshot
Figure 34 IBM: SWOT Analysis
Figure 35 Google: Company Snapshot
Figure 36 Google: SWOT Analysis
Figure 37 AWS: Company Snapshot
Figure 38 AWS: SWOT Analysis
Figure 39 Microsoft: Company Snapshot
Figure 40 Microsoft: SWOT Analysis
Figure 41 Apple: Company Snapshot
Figure 42 Baidu: Company Snapshot
Figure 43 Nuance Communications: Company Snapshot
Figure 44 Salesforce: Company Snapshot

The study involved 4 major activities to estimate the current market size of the voice assistant application market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakup and data triangulation procedures were used to estimate the market size of the segments of the market.

Secondary Research

In the secondary research process, various secondary sources, such as D&B Hoovers, Bloomberg BusinessWeek, and Factiva, have been referred to, for identifying and collecting information for this study. These secondary sources included annual reports; press releases and investor presentations of companies; whitepapers, certified publications, and articles by recognized authors; gold standard and silver standard websites; regulatory bodies; and databases.

Primary Research

Various primary sources from both the supply and demand sides of the voice assistant application market ecosystem were interviewed to obtain qualitative and quantitative information for this study. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various vendors who provide voice assistant application services and associated solution providers operating in the targeted regions. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The following is the breakup of the primary respondents’ profiles:

To know about the assumptions considered for the study, download the pdf brochure

Voice Assistant Application Market Size Estimation

For estimating and forecasting the market and the other dependent submarkets, top-down and bottom-up approaches were used. The bottom-up procedure was used to arrive at the overall market size of the global market using the revenues and offerings of the key companies in the market. The research methodology used to estimate the market size included the following:

• The key players in the market were identified through extensive secondary research.
• The market size, in terms of value, was determined through primary and secondary research processes.
• All percentage shares, splits, and breakups were determined using secondary sources and verified through primary sources.

Data Triangulation

With data triangulation and validation through primary interviews, the exact value of the overall parent market size was determined and confirmed using this study. The overall market size was then used in the top-down procedure to estimate the size of the other individual markets via percentage splits of the market segmentation.

Report Objectives

• To define, describe, and forecast the global market by component (solutions and services), application (web applications, mobile applications, and devices), deployment mode (on-premises and cloud), organization size (SMEs and large enterprises), vertical, and region
• To provide detailed information about the major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the market
• To analyze the market’s sub segments with respect to the individual growth trends, prospects, and contributions to the total market
• To analyze the opportunities in the market for stakeholders and provide the competitive landscape of the market
• To forecast the revenue of the market’s segments with respect to 5 major regions, namely North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA)
• To profile the key players and comprehensively analyze their recent developments and positioning in the voice assistant application market
• To analyze the competitive developments, such as mergers and acquisitions, new product developments, and R&D activities, in the market

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific requirements. The following customization options are available for the report:

Service Analysis

• Service matrix provides detailed service information and comparisons

Geographic Analysis

• Further breakup of the North American voice assistant application market
• Further breakup of the European market
• Further breakup of the APAC market
• Further breakup of the MEA market
• Further breakup of the Latin American market

Company Information

• Detailed analysis and profiles of additional market players