What are the Historical Developments and Current Growth Metrics of the Artificial Intelligence AI In Voice Assistants Market?
The artificial intelligence ai in voice assistants market has seen considerable growth due to a variety of factors.
• Over the recent years, the market size of artificial intelligence (AI) in voice assistants has escalated dramatically. The market is projected to enhance from $3.54 billion in 2024 to $4.66 billion in 2025, with a compound annual growth rate (CAGR) of 31.5%.
Factors contributing to this growth during the historic period include increased investment in AI study, escalated usage of voice assistants for health surveillance, a surge in smart speaker sales, an uptick in applying digital assistants in enterprises, and the progression in E-learning.
What Does Future Hold for The Artificial Intelligence AI In Voice Assistants Market?
The artificial intelligence ai in voice assistants market is expected to maintain its strong growth trajectory in upcoming years.
• Significant expansion is projected for the artificial intelligence (AI) in voice assistants market in the coming years, with it anticipated to reach a value of $13.85 billion by 2029, reflecting a compound annual growth rate (CAGR) of 31.3%.
This predicted growth throughout the forecast period can be credited to numerous factors, including an amplified emphasis on data security, greater focus on accessibility, the rise of E-commerce, an increase in remote work, and the continued development of voice search. Upcoming trends in this period to look for are improvements in natural language processing, the amalgamation of voice assistants with wearable technologies, voice-controlled IoT platforms, the incorporation of voice assistants into AR and VR applications, and their integration into smart city infrastructure.
What Are The Leading Drivers Of Growth In The Artificial Intelligence AI In Voice Assistants Market?
The continued uptake of smart home technology is predicted to drive the expansion of the AI in voice assistants market. The increasing preference for smart home technologies and devices indicates the homeowners' growing acceptance. A smart home reflects a household's readiness to enjoy the advantages and conveniences an interconnected and automated living environment offers. AI in voice assistants finds utility in smart thermostats and smart home devices where a synchronized, programmable voice lets homeowners operate and oversee their heating, ventilation, and air conditioning (HVAC) systems alongside other smart devices. For example, IoT For All, a US-based technology media platform, disclosed in their December 2022 reports that smart home penetration stood at about 14% in 2022, and it might surge to 25% by the conclusion of 2026. Additionally, automation is forecasted to be prevalent in 48.4% of US households by 2025. As a result, the rise in smart home adoption acts as a catalyst for the growth of the AI in voice assistants market.
What Is The Segmentation Of The Global Artificial Intelligence AI In Voice Assistants Market?
The artificial intelligence (AI) in voice assistants market covered in this report is segmented –
1) By Deployment Mode: Cloud-Based, On-Premise
2) By Application: Virtual Personal Assistants, Customer Service And Support
3) By Industry Vertical: Consumer Electronics, Banking, Financial Services, And Insurance (BFSI), Automotive, Healthcare, Retail And E-Commerce, Other Industry Verticals
Subsegments:
1) By Cloud-Based: AI Voice Assistant Platforms, Voice Recognition And Processing Services, Cloud-Based Speech Analytics Tools, API Integrations For Cloud Voice Assistants, AI-Driven Chatbot Services In The Cloud, Voice-Enabled IoT Services
2) By On-Premise: On-Premise Voice Assistant Software, Local Speech Recognition Systems, On-Premise Voice Analytics Tools, Customizable On-Premise Voice Assistant Solutions, Integration With Local Systems And Databases, Security And Compliance Tools For On-Premise Deployments
Pre-Book The Artificial Intelligence AI In Voice Assistants Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Emerging Trends Are Shaping The Artificial Intelligence AI In Voice Assistants Market Landscape?
Top firms active in the AI in voice assistants market are incorporating AI voice assistants into their business models to simplify customer engagement, automate mundane tasks, and bolster efficiency and user interaction. AI voice assistants utilize natural language processing to decipher and react to verbal commands, enhancing customer support, productivity, and reach in a variety of industries. For example, in September 2023, Oracle, a software company based in the US, introduced Oracle's clinical digital assistant. The deployment of generative AI in combination with voice commands by Oracle's Clinical Digital Assistant enhances the efficiency of electronic health record conversations, enabling providers to concentrate more on patient care and interaction. This even allows patients to control their healthcare chores and retrieve information via voice instructions and protected web chats.
Who Are the Key Players In The Artificial Intelligence AI In Voice Assistants Market?
Major companies operating in the artificial intelligence (AI) in voice assistants market are:
• Apple Inc.
• Google LLC
• Samsung Electronics Co. Ltd.
• Microsoft Corporation
• Alibaba Group Holding Limited
• Huawei Technologies Co. Ltd.
• Tencent Holdings Ltd.
• Amazon Web Service
• Sony Group Corporation
• International Business Machines Corporation
• Cisco Systems Inc.
• Orange S.A.
• Oracle Corporation
• Baidu Inc.
• Yandex LLC
• iFLYTEK Co. Ltd.
• Sonos Inc.
• Nuance Communications Inc.
• Verint Systems Inc.
• SoundHound Inc.
• Rasa Technologies Inc.
• Cognigy GmbH
• Deepgram
• Pypestream Inc.
• VoiceOwl Bot Private Limited
• Vokaturi B.V
What Are The Regional Insights Into The Artificial Intelligence AI In Voice Assistants Market?
North America was the largest region in the AI in voice assistants market in 2024. The regions covered in the artificial intelligence (AI) in voice assistants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
