Connect with us

Technology

The Voice Assistant Application Market is set to grow by USD 21.94 Billion from 2024-2028, driven by digital transformation and AI-powered market evolution – Technavio

Published

3 months ago

on

NEW YORK, Sept. 20, 2024 /PRNewswire/ — The global voice assistant application market size is estimated to grow by USD 21.94 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 40.94% during the forecast period. digital transformation is driving market growth, with a trend towards growing demand for smart homes and development of smart cities. However, data privacy and security concerns associated with voice assistant application poses a challenge – Key market players include Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Apple Inc., Artificial Solutions International AB, Baidu Inc., Huawei Technologies Co. Ltd., International Business Machines Corp., Microsoft Corp., Oracle Corp., Orbita Inc., Robin Labs, RoboBot Studio, Salesforce Inc., Samsung Electronics Co. Ltd., SAP SE, SoundHound AI Inc., Verbio Technologies SL, Voiceflow Inc., and Xiaomi Communications Co. Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Voice Assistant Application Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 40.94%

Market growth 2024-2028

USD 21937.8 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

31.94

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 32%

Key countries

US, China, UK, Canada, and Germany

Key companies profiled

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

Market Driver

The voice assistant application market is experiencing significant growth as consumers prioritize convenience with electronic devices, particularly in the context of the smart home concept. In regions with the highest penetration, such as North America and Europe, voice assistant applications are integrated into home appliances to execute tasks based on human commands. Developing economies in Asia Pacific are also adopting this technology. For instance, Godrej Interio, a subsidiary of Godrej Industries Ltd., is developing connected homes in India. However, the company anticipates it will take some time for the concept to gain traction. Amazon Alexa and Google Home are popular voice assistant applications that enable voice-controlled smart home devices. These devices allow users to manage various functions, such as turning on lights or adjusting thermostats, using simple voice commands. Vendors are continuously integrating these smart home devices with voice assistant applications to create a more user-friendly environment. Voice assistant applications are also transforming transportation, urban planning, and city safety by utilizing AI platforms to track user habits, behavioral characteristics, and activities. This data can be used to personalize products and services to meet evolving user needs. Customer service chatbots, powered by voice assistant applications and natural language processing, instantly handle queries and resolve basic issues, enhancing the overall customer experience. Major global companies like Microsoft, IBM, and Alphabet are driving the development of smart cities through innovative initiatives and solutions. Cities such as Amsterdam, Barcelona, Stockholm, and Santa Cruz are already considered smart cities. Developing countries, including India, are implementing smart city projects, focusing on predictive risk management and consumer experience management to monitor consumer data and provide analytics to end-user enterprises. The number of smart cities is projected to increase during the forecast period, leading to the development of new devices and applications tailored to smart cities, further fueling the global voice assistant application market growth. 

Voice assistant applications have become a hot trend in the tech world, driven by the widespread adoption of AI technologies and voice-enabled devices. According to Juniper Research, the number of voice assistant users is expected to reach 8.4 billion by 2024. This growth is fueled by the increasing use of smart speakers, speech recognition, and natural language processing in various industries. SMEs and large enterprises in sectors like banking, financial services, insurance, media and entertainment, healthcare, and more are leveraging voice assistant applications for customer engagement, online purchasing, appointment scheduling, texting, and calling. Machine learning and voice recognition technologies enable precise data collection and analysis, leading to improved efficiency and better patient experience in healthcare verticals. Cloud segment and edge computing are key deployment types for voice assistant applications, ensuring low bandwidth usage and safety instructions. Mergers and acquisitions among technology providers continue to shape the voice assistant application landscape, offering innovative solutions for networked devices and voice-based systems. The future of voice assistant applications lies in their ability to enhance user experience, streamline processes, and cater to the needs of the worldwide population in various industries. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

Market Challenges

Voice assistant applications have gained significant popularity in recent years, offering convenience and efficiency to users. However, the market faces notable challenges related to data privacy and security. With the increasing use of voice assistant applications over mobile and cloud networks, concerns surrounding network security, particularly in high-security zones, have emerged. The IoT revolution has led to a large-scale combination of physical and virtual worlds, increasing the number of potential entry points for cyber attacks. Some nations have restricted certain applications, such as vehicle and infrastructure communication, due to security concerns. Hackers may target voice assistant systems due to their reliance on machine intelligence and sensors, posing a significant threat to data breaches. These factors may hinder the growth of the voice assistant application market during the forecast period. Organizations and individuals must prioritize robust security measures to mitigate these risks and ensure the safe adoption of voice assistant technology.Voice assistant applications have gained significant traction in today’s digital world, with worldwide population relying heavily on machine learning and voice recognition technologies for convenience. However, challenges persist in delivering seamless user experience. Appointment scheduling, texting, and calling functionalities require precise data and efficient processing, which can be bandwidth-intensive. Cloud-based infrastructure and edge computing are popular solutions, but networked devices and voice-based systems can strain resources. Rising case trends include healthcare verticals, where voice assistants improve patient experience and enable chronic disease management. Mergers and acquisitions shape the technology provider landscape, offering innovative solutions for large enterprises in IT and telecommunications. Natural Language Processing (NLP) and deployment type (cloud) are key considerations for businesses of all sizes. Safety instructions and voice assistant users on mobile devices further expand the market scope. Voice assistant applications continue to evolve, addressing the needs of a growing user base.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview

This voice assistant application market report extensively covers market segmentation by

Application 1.1 Individual users1.2 SMEs1.3 Large enterprisesDeployment 2.1 Cloud2.2 On-premiseGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Individual users- The individual user segment is poised for the fastest growth in the voice assistant application market during the forecast period. This growth is driven by the increasing adoption of smartphones and connected devices, digital content platforms like OTT, and the rising popularity of online gaming. Advanced features in smartphones and PCs, such as speech-to-text and voice commands for gaming, are encouraging individual users to opt for advanced voice assistant application software and services. In 2020, over 2 billion gamers were present worldwide, with significant growth in emerging economies like India and China. The trend of gamers viewing esports as a career option and investing in advanced gaming equipment is driving the demand for voice assistant applications. Additionally, the increasing adoption of smart appliances and connected home environments, particularly smart speakers, is another growth factor. Major vendors like Amazon and Alphabet dominate this market, with the global voice assistive smart speaker market projected to reach USD11.90 billion by 2023. The number of smart speakers in US households is expected to grow by nearly 80% during the forecast period, and over 50% of web searches are already being done through voice assistants. The global smart kitchen appliance market is expected to reach USD24,931.26 million by 2023, and the integration of AI in voice assistant applications will further drive individual user adoption. Technological advances in smart TVs, such as Amazon’s Fire TV Stick Basic Edition with a voice assistant, are also contributing to market growth.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

Voice assistant applications are revolutionizing the way we interact with technology, powered by advanced AI technologies and speech recognition. With the widespread adoption of voice-enabled devices, customer engagement is at an all-time high. Low code platforms are making it easier for businesses, even SMEs, to develop and deploy voice assistant applications. According to Juniper Research, the worldwide population of voice assistant users is expected to reach 8.4 billion by 2024. Smart speakers and networked devices are driving the growth of voice-based systems. However, they can be bandwidth hogs, making cloud-based infrastructure and edge computing essential. Machine learning and voice recognition technologies are key components of voice assistant applications, enabling features like appointment setting, texting, and calling. Industries like banking, financial services, insurance, media and entertainment, healthcare, and more are leveraging voice assistant applications for enhanced customer experiences and precise data.

Market Research Overview

The voice assistant application market is experiencing rapid growth, fueled by the increasing adoption of AI technologies and voice-enabled devices. Customer engagement through voice-based systems is becoming a priority for businesses, with low code platforms simplifying development. Juniper Research predicts that the number of voice assistant users will reach 8.4 billion by 2024. Smart speakers and other networked devices are driving the demand for voice recognition technologies. Online purchasing, appointment scheduling, texting, and calling are common use cases. SMEs and large enterprises in sectors like banking, financial services, insurance, media and entertainment, healthcare, and IT and telecommunication are investing in cloud-based infrastructure and edge computing for precise data and efficiency. The technology provider landscape is evolving with innovative solutions, including machine learning and natural language processing. The healthcare vertical is a rising case trend, with voice assistant applications improving patient experience, managing chronic diseases, and providing safety instructions. Mergers and acquisitions are shaping the market, with companies focusing on delivering voice assistant applications that cater to the worldwide population’s diverse needs. Despite the benefits, challenges remain, such as bandwidth hogs and the need for cloud-based infrastructure. The technology’s integration with various industries and deployment types, along with enterprise size considerations, requires a thoughtful approach.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationIndividual UsersSMEsLarge EnterprisesDeploymentCloudOn-premiseGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-voice-assistant-application-market-is-set-to-grow-by-usd-21-94-billion-from-2024-2028–driven-by-digital-transformation-and-ai-powered-market-evolution–technavio-302254235.html

SOURCE Technavio

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

DayOne Launches as an Independent Global Data Center Pioneer Following Series B Funding Closure

Published

26 minutes ago

on

January 1, 2025

By

SINGAPORE, Jan. 1, 2025 /PRNewswire/ — DayOne, a leading global data center pioneer, officially launched as an independent group on January 1, 2025, ushering in a transformative new era following the successful completion of its series B funding, led by renowned global investment institutions. Formerly operating as GDS International (GDSI), DayOne, founded in 2022 and headquartered in Singapore, has built a proven track record of creating and scaling markets across Asia-Pacific and beyond, driving digital transformation and enhancing regional connectivity.

The brand name “DayOne” encapsulates the company’s entrepreneurial spirit and relentless focus on customers, innovation, and growth. It signifies a mindset of respecting each day as an opportunity to embrace new possibilities, create impactful solutions, and deliver value across the markets we operate in. Inspired by its legacy of pioneering digital infrastructure and unlocking markets, “DayOne” represents a forward-looking commitment to empowering industry leaders with next-generation infrastructure solutions. Guided by humility and a deep reverence for our work and the industries we serve, “DayOne” is dedicated to creating value for all—spanning customers, business partners, investors, employees, and the communities we support.

Over the past year, DayOne secured approximately USD $1.9 billion through its Series A and Series B equity rounds, backed by world-class investors such as SoftBank Vision Fund, Kenneth Griffin, CEO of Citadel, Coatue Management, and Baupost Group.

These investments have not only underscored confidence in DayOne’s ability to deliver reliable, scalable, and sustainable digital infrastructure solutions but have also paved the way for its transformation into an autonomous entity. DayOne’s autonomy spans corporate governance, operations, finance, and technology functions. Its governance is further strengthened by a globally experienced and diverse board, with over half comprising independent investor directors.

Adding to its strategic depth, DayOne recently welcomed three esteemed board leaders: Lim Ah Doo, Co-Chairman of the Board and Chairman of Olam Group Limited; and board advisors Ken Miyauchi, former President & CEO of SoftBank Corp., and Bob McCooey, Vice Chairman of Nasdaq. This robust governance framework ensures balanced decision-making aligned with international best practices, laying a solid foundation for sustainable growth and long-term value creation.        

“The trust from our investors speaks volumes about the strength of DayOne’s vision and our ability to deliver transformative results in a rapidly evolving industry,” said William Huang, Chairman of DayOne. “This transformation goes beyond operational independence— it solidifies our role as a leader in setting new industry benchmarks, advancing regional digital growth, and championing sustainable innovation.”

Jamie Khoo, CEO of DayOne, said: “DayOne represents more than a new name—it’s a commitment to leading with purpose, agility, and innovation. Our focus is on delivering cutting-edge digital infrastructure that propels industries and communities forward. This new chapter empowers us to create lasting impacts on economies and build a future-ready digital ecosystem.”

Gary Wojtaszek, Vice-Chairman of the Board and former President and CEO of CyrusOne, stated: “The formation of DayOne marks a pivotal moment for the industry. Backed by a forward-thinking board and an exceptional leadership team, DayOne is set to redefine digital infrastructure and establish new benchmarks in the sector.”

Operating across key markets such as Singapore, Johor (Malaysia), Batam (Indonesia), Greater Bangkok, Hong Kong SAR, and Tokyo, DayOne combines deep local expertise with a global vision to meet the growing demands of hyperscalers and enterprises. Its innovative strategies, such as the SIJORI market creation, integrate the strengths of Singapore, Johor, and Batam to deliver interconnected, scalable, low-latency, and sustainable digital infrastructure solutions.

DayOne’s competitive edge lies in its ability to anticipate market demands and deliver customer-centric solutions. With a focus on innovation, the company consistently sets industry benchmarks in speed, scalability, and execution. Its sustainability efforts include cutting-edge cooling technologies, renewable energy adoption, and green building designs aimed at reducing environmental impact and enhancing operational resilience.

Looking ahead, DayOne envisions a future where digital infrastructure fuels economic transformation and accelerates global connectivity. By integrating sustainability with advanced technology, DayOne is poised to drive innovation and empower industries worldwide.

About DayOne

DayOne is a data center pioneer that develops and operates next-gen digital infrastructure for industry leaders who demand reliable, cost-effective and quickly scalable solutions.

Our cutting-edge facilities empower hyperscalers and large enterprises to achieve rapid deployment and enhance connectivity, driving transformative engagement and innovation as we shape the future of industries. DayOne’s data centers are located across key markets, including Singapore, Johor (Malaysia), Batam (Indonesia), Greater Bangkok, Hong Kong SAR, Tokyo, and beyond.

Headquartered in Singapore, DayOne’s leadership team draws on over two decades of industry experience and a track record of building Asia’s largest data center business. With DayOne, they have created the SIJORI (Singapore, Johor, and Riau Islands) market as a global data center hub.

As demand for strategically located and customized data centers rises, DayOne’s entrepreneurial spirit, customer-first strategy, deep local partnerships, and agile executional capabilities uniquely position us to power the growth ambitions of leading hyperscalers and large enterprises around the world.

View original content to download multimedia:https://www.prnewswire.com/news-releases/dayone-launches-as-an-independent-global-data-center-pioneer-following-series-b-funding-closure-302340665.html

SOURCE DayOne Data Centers

Continue Reading

Technology

Altice USA (Optimum) Has Dropped MSG Networks, Depriving Local Fans of Hundreds of Live, Exclusive Games of Their Favorite Teams

Published

26 minutes ago

on

January 1, 2025

By

Knicks, Rangers, Islanders and Devils Coverage on MSG Networks is Dark for Optimum Subscribers

For More Information, Please Visit KEEPMSG.COM

NEW YORK, Jan. 1, 2025 /PRNewswire/ — Despite MSG Networks’ extensive efforts to reach an agreement, Altice USA has dropped MSG Networks from its Optimum channel lineup in the tri-state area, leaving passionate Knicks, Rangers, Islanders and Devils fans out in the cold this winter.   

MSG Networks issued the following statement:

“As a last-ditch effort to save their struggling business at the expense of subscribers, Altice is trying to charge their customers more and give them less. They just raised prices – nearly 50% for current Optimum subscribers and 70% for new Optimum subscribers (after expiration of a promotional offer) for the package that had included MSG Networks – and cut access to the Knicks, Rangers, Islanders, Devils and more on MSG Networks.  We offered Altice a number of fair and reasonable proposals that called for Altice to pay us less than last year. Altice rejected all of them, including our offer to keep MSG Networks on the air while we continued to try to reach a deal.  We remain ready to negotiate in good faith.”

In addition:

The previous Optimum Core TV package – which included MSG Networks and includes other sports channels – increased from $95 to $140/month, nearly a 50% increase.Now, following Altice’s introduction of its new packages just a few weeks ago, the most “affordable” new package that had offered MSG Networks prior to the drop is $160/month – that is almost 70% more than what Optimum customers paid before.MSG Networks offered Altice the same fair and reasonable terms that other major providers accepted. And now Altice’s own customers are paying the price to bolster Altice’s bottom line with dramatic price hikes and unreasonable proposals to programmers.Optimum subscribers are encouraged to visit KEEPMSG.COM for more information, including on how switch providers or to find other options for watching MSG Networks’ award-winning programming.NBA and NHL telecasts appearing on MSG Networks regularly rank as some of the most-watched cable programs in the region. 

About MSG Networks

MSG Networks, a pioneer in sports media, owns and operates two award-winning regional sports and entertainment networks (MSG and MSG Sportsnet) and MSG+, a direct-to-consumer and authenticated streaming offering (included in the Gotham Sports App), that serve the nation’s number one media market, the New York DMA, as well as other portions of New York, New Jersey, Connecticut and Pennsylvania. The networks feature a wide range of compelling sports content, including exclusive live local games and other programming of the New York Knicks, New York Rangers, New York Islanders, New Jersey Devils and Buffalo Sabres, as well as significant coverage of the New York Giants and Buffalo Bills. This content, in addition to a diverse array of other sporting events and critically acclaimed original programming, has established MSG Networks as the gold standard in regional sports. MSG Networks is part of the Sphere Entertainment Co. (NYSE: SPHR).

Contact: Dan Schoenberg (dan.schoenberg@msg.com)

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/altice-usa-optimum-has-dropped-msg-networks-depriving-local-fans-of-hundreds-of-live-exclusive-games-of-their-favorite-teams-302340808.html

SOURCE Sphere Entertainment Co.

Continue Reading

Technology

CES 2025: viaim Unveils Smart Office Tools RecDot and NoteKit with Exclusive Limited-Time Early Access

Published

4 hours ago

on

January 1, 2025

By

The brand’s early bird event gives professionals the chance to be the first to experience an unprecedented office experience with exclusive discounts and surprises.

SINGAPORE, Jan. 1, 2025 /PRNewswire/ — viaim, an AI technology hardware company deeply rooted in the smart office sector, is ushering in a new smart office era with its mission to create AI that eliminates repetitive office tasks, enabling business professionals to focus on collaboration, innovation, and more meaningful work. The Company’s upcoming debut at CES 2025 will see the launch of its RecDot AI Work companion earbuds and NoteKit desktop AI recorder that can simplify workflows. viaim AI offers advanced features to enhance productivity and convenience. Its AI assistant analyzes meeting minutes, extracts key points, and generates summaries and to-do lists, simplifying post-meeting tasks.

Empowering business professionals around the world to work smarter and more efficiently, RecDot supports real-time transcription and translation for on-site, call, and audio-video recordings. With translation capabilities in 13 languages, it ensures seamless communication and 48dB deep noise reduction isolates background noise effectively, customizable for various scenarios. Additionally, the 36-hour charging box battery life offers up to 9 hours per use and provides one hour of use with just a 5-minute charge. viaim’s products can streamline meeting workflows and the real-time transcription, translation, and summarization features simplify tasks and improve focus, making it ideal for multinational or foreign-language meetings. 

Additionally, the sleek-like-a-pen NoteKit desktop AI recorder plugs directly into a laptop without the need to connect earbuds or additional drivers. It utilizes dual microphones for omnidirectional sound pickup to record audio independently and can clearly capture human voices within five meters and can be independently controlled through physical buttons. It supports transcription of live and audio and video conference recordings, supports recognition and translation of 13 languages, and can provide external subtitles for foreign language videos.

To celebrate the launch, viaim invites users to participate in its exclusive early bird event from January 1 to January 6, 2025. Don’t miss your chance—register now on viaim’s official website (store.viaim.ai) to secure discounts of up to $25 and enter for a chance to win a RecDot valued at $249 ,Time is limited, so act fast and elevate your workplace efficiency with viaim’s latest innovations!

Jane Doe,CMO of viaim said: “Professionals face growing challenges in efficiency and communication, especially with frequent meetings, remote collaboration across time zones, and multilingual needs. Traditional tools fall short, reducing productivity. viaim addresses these pain points, and this launch marks a key step toward smarter workplace solutions.”

Discover viaim at CES 2025 and join the immersive experience at Booth 36709, LVCC South Hall 2, from January 7 to 10. Explore live product demonstrations, engage in expert-led discussions, and enjoy exclusive offers.  Learn how RecDot and NoteKit can transform your workday and unlock new levels of productivity.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/ces-2025-viaim-unveils-smart-office-tools-recdot-and-notekit-with-exclusive-limited-time-early-access-302340576.html

SOURCE VIAIM

Continue Reading

Trending