CHICAGO, October 1, 2021 / PRNewswire / – According to a research report, “Voice Assistant Application COVID-19 Impact Market by Component, Deployment Mode, Organization Size, Channel Integration (Websites, Mobile Applications), Application Area (Smart Banking, Connected Healthcare), and Region – Global Forecast to 2026“, published by MarketsandMarkets ™, the market size for voice assistant applications is expected to be $ 2.8 billion in 2021 to $ 11.2 billion by 2026 with an average annual growth rate (CAGR) of 32.4% in the forecast period. Key factors driving the growth of the voice assistant applications market include advances in voice-based AI technologies, the increasing adoption of voice-enabled devices, the increasing focus on customer loyalty, and the emergence of low-code platforms for voice assistant applications.
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In terms of components, the solution segment is expected to be the market leader in the forecast period
Application solutions for voice assistants include both stand-alone and integrated solutions. They offer basic functions to improve the conversation experience, such as These solutions are developed using more advanced cognitive computing technologies that can perform multiple queries and complex tasks, such as: B. planning a meeting or booking a flight ticket.
Thanks to the channel integration, the mobile application segment is expected to grow with the highest CAGR in the forecast period
Voice assistants running on mobile apps are built into speech recognition and NLP technology to recognize speech and human conversations. These voice assistants help companies monitor customer behavior, trends and interactions in real time. Voice assistant applications are widely used by companies for better customer loyalty, marketing, branding, reduced costs and multiple channels of interaction.
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North America hold the highest market share in the forecast period
North America has proven to be the largest contributor among all regions to the development and adoption of application solutions and services for voice assistants. Countries contributing to the growth of the voice assistant applications market in the region include the United States and Canada. These countries have well-established economies that allow voice assistant application providers to invest in new technologies. Company throughout North America predominantly use voice-based digital assistants to improve the customer experience and streamline business processes.
The main actors of the Voice Assistant Applications Market contain AWS (USA), Apple (USA), Avaya (USA), Cisco (USA), Google (USA), IBM (USA), Microsoft (USA), Oracle (USA), Samsung (South Korea) and SAP (Germany).
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