A voice assistant is a device or an application that uses speech recognition, natural language processing, and AI technology to respond to humans. The main components of the voice assistant application are solutions and services. Incorporating voice assistants such as Alexa, Google Assistant, and Siri into digital solutions or goods is referred to as service, and it gives customers another way to communicate with the team. The different deployment modes include on-premises, and cloud and are used in web applications, and mobile applications. It is implemented in various sectors such as banking, financial services, and insurance (BFSI), healthcare, retail, and e-commerce, media and entertainment, telecom and IT, manufacturing and automotive, education, travel and hospitality, and others. The voice assistant application market research report is one of a series of new reports from The Business Research Company that provides voice assistant application market statistics, including voice assistant application industry global market size, regional shares, competitors with a voice assistant application market share, detailed voice assistant application market segments, market trends and opportunities, and any further data you may need to thrive in the voice assistant application industry. This voice assistant application market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global voice assistant application market size grew from $3.43 billion in 2022 to $4.52 billion in 2023 at a compound annual growth rate (CAGR) of 32.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The voice assistant application market size is expected to grow to $13.66 billion in 2027 at a CAGR of 31.8%. The growing voice-enabled devices are contributing to the growth of the voice assistant application market. The voice-activated device recognizes spoken instructions and inquiries, and commonly employs text-to-speech to play a response. Over time, voice activation technology has aided in the provision of assistance, the management of customer experience, and increase productivity. Another layer of increased customer assistance and interactions has been added due to an app that includes Alexa, Siri, Google Assistant, and Cortana. For instance, according to Oberlo, a drop shipping app, in 2020, 111.8 million people in the USA using voice search features, up 9.5% from the previous year. By 2021, it is predicted to have grown by 9.7% to 122.7 million users. The AI-based voice assistant is a key trend gaining popularity in the voice assistant application market. Major companies operating in the voice assistant application sector are focused on developing AI-based voice assistants to offer users an alternative way to interact with their various business apps. For instance, in June 2022, Athenahealth, a US-based healthcare company that provides network-enabled services and mobile apps, introduced athenaOne, an AI-based voice assistant technology. AthenaOne is a completely integrated, mobile-integrated, voice-guided digital companion that speeds up information retrieval and enables healthcare workers to carry out clinical duties without using their hands. The new iOS-based mobile gadget enables doctors to naturally and reliably dictate medical paperwork while spending more time talking with patients. In April 2021, Microsoft Corporation, a US-based technology company acquired Nuance Communications for $19.7 billion. The acquisition elevates Microsoft as a prominent participant in healthcare technology by reducing the distance between clinicians and Microsoft Cloud for Healthcare. Nuance Communications is a US-based company that provides AI-based voice assistants. Major players in the voice assistant application market are Amazon Web Services, Apple, Baidu Inc., Google LLC, IBM Corporation, Microsoft Corporation, Oracle Corporation, Samsung, Verbio, Orange S.A, Orbita, Avaamo Inc., Avaya, Inbenta, and Slang Labs. North America was the largest region in the voice assistant application market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the voice assistant application report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the voice assistant application market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The voice assistant application market includes revenues earned by entities by providing application solutions that use voice recognition, speech synthesis, and natural language processing to provide a service through a specific application. A Voice assistant, also called an intelligent personal assistant or connected speaker, can conduct tasks or provide services for a person based on instructions or questions. It is a new type of product marketed by Apple, Amazon, and Google and is based on natural language speech recognition. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global voice assistant application market is segmented - 1) By Component: Solutions, Services 2) By Deployment mode: On-Premises, Cloud 3) By Applications: Web Applications, Mobile Applications 4) By End-use: Banking, Financial Services, And Insurance, Healthcare, Retail And E-Commerce, Media And Entertainment, Telecom And IT, Manufacturing And Automotive, Education, Travel And Hospitality, Other End Users

The intelligent virtual assistant refer to an artificial intelligence (AI)-enabled converse adjunct that generates individualized responses by combining analytics and cognitive computing grounded on individual client information, one’s exchange and position, using the commercial knowledgebase and mortal sapience. An intelligent virtual assistant is more advanced than a simple chatbot, which is automated but not powered by artificial intelligence. The main type of products of intelligent virtual assistants are IVA (intelligent virtual assistant) smart speaker and chatbots. The IVA (intelligent virtual assistant) smart speaker are an internet-connected speaker with microphones that enables users to interact with an intelligent virtual assistant using voice commands developed to improve user experience in various devices such as smartphones, tablets, and laptops. Smart speakers are electronic devices that incorporate AI capabilities to provide a smooth user experience when searching over voice-based commands. The user interface used by intelligent virtual assistants are text-to-text, text-to-speech and automatic speech recognition which are mainly used by end-users such as retail, BFSI, healthcare, telecom and others. The intelligent virtual assistants market research report is one of a series of new reports from The Business Research Company that provides intelligent virtual assistants market statistics, including intelligent virtual assistants industry global market size, regional shares, competitors with a intelligent virtual assistants market share, detailed intelligent virtual assistants market segments, market trends and opportunities, and any further data you may need to thrive in the intelligent virtual assistants industry. This intelligent virtual assistants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global intelligent virtual assistant market size grew from $9.61 billion in 2022 to $13.64 billion in 2023 at a compound annual growth rate (CAGR) of 41.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The intelligent virtual assistant market size is expected to grow to $44.34 billion in 2027 at a CAGR of 34.3%. The increasing demand for self-service options is driving the growth of the intelligent virtual assistant market. Self-service is a practice in which consumers access resources to solve problems on their own without the assistance of a service agent. Self-service grew alongside growing digital technologies as customers become more accustomed to shopping and chatting online. Self-service solutions are now available in almost every business, allowing customers to take a more active role in their journey. As the demand increases for self-service options, there will be an increase in the need to offer automated yet personalized chat service options to customers which are mostly provided through the implementation of intelligent virtual assistants. For instance, according to a recent survey in 2021 by OnePoll, a UK-based survey-led company, 58% of customers stated that they will continue to have more digital interactions in the future than they had before the COVID-19 pandemic as they were impressed by the quick, easy issue resolution received through digital channels, wherein, an intelligent virtual assistant is a critical component of digital self-service success. Therefore, the rising demand for self-service options drives the growth of the intelligent virtual assistant market. Technological advancement is a key trend gaining popularity in the intelligent virtual assistant market. Major companies operating in the intelligent virtual assistant market are focused on developing new technological solutions for intelligent virtual assistants such as user preferences and privacy features to strengthen their position in the market. These technologically advanced features in intelligent virtual assistants offer better accuracy and output, are easy to use, and protect the privacy of users. For instance, in June 2020, Google, Inc., a US-based technology company announced additional features for its artificial intelligence-based voice assistant ‘Google Assistant’. The main new feature includes voice match which allows smart speakers to recognize the voice of a specific user and personalize responses. In addition, in April 2022, Skoda Auto AS, a Czech Republic-based company mainly operating in motor vehicle manufacturing announced the expansion of its conversational AI solution ‘Laura’ to cover new European regions. Laura is an intelligent chatbot offering customers valuable information and helping in the process of new ŠKODA vehicle selection. It will be deployed in the respective native language, allowing for deeper levels of engagement and communication with customers across Europe. In October 2021, Accenture, a US-based leading global information technology company in the cloud, artificial intelligence, and telecom services acquired Umlaut for an undisclosed amount. As a result of this acquisition, Accenture's deep engineering capabilities will be greatly expanded to assist organizations to employ digital technologies such as cloud, artificial intelligence, and 5G to alter how they design, create, and manufacture products while also embedding sustainability. Umlaut adds more than 4,200 industry-leading engineers and consultants to Accenture's Industry X services, broadening the company's capabilities in areas such as automotive, aerospace and military, telecommunications, energy, and utilities. Umlaut is a German-based engineering consulting and services firm. Major players in the intelligent virtual assistant market are Amazon.com Inc., Apple Inc., IBM Corporation, Nuance Communications Inc., Alphabet Inc., Inbenta Technologies Inc., Microsoft Corporation, Baidu Inc., BlackBerry Ltd., Artificial Solutions, EGain Corporation, IPsoft Inc (Amelia), Avaamo, Alibaba Group, Xiaomi Inc and Oracle. North America was the largest region in the intelligent virtual assistants market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the intelligent virtual assistants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the intelligent virtual assistants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The intelligent virtual assistant market includes revenues earned by entities by providing services such as lead qualification, meetings scheduling, data entry, pipeline management, pre and post-event outreach. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global intelligent virtual assistant market is segmented - 1) By Product: IVA (Intelligent Virtual Assistant) Smart Speaker, Chatbots 2) By User Interface: Text-To-Text, Text-To-Speech, Automatic Speech Recognition 3) By End User: Retail, BFSI, Healthcare, Telecom, Other End Users

Conversational AI is a type of artificial intelligence that allows users to engage with computer applications such as advanced chatbots or AI chatbots similar to the way they would interact with other humans. The conversational artificial intelligence (AI) is used to respond to queries, resolve issues, collect information, conduct transactions, and deliver services more quickly and efficiently. The main types of conversational AI include IVA and chatbots. IVAs are intelligent virtual assistants that are used to find the necessary information or accomplish tasks depending on particular user information, prior discussions, and their location. The different conversational AI components include platforms and services. The deployment types include cloud and on-premise. The conversational AI technologies include machine learning, deep learning, NLP and automated speech recognition, used by end-users such as BFSI, retail and e-commerce, healthcare and life science, travel and hospitality, telecom, media and entertainment and other end-users. The conversational AI market research report is one of a series of new reports from The Business Research Company that provides conversational AI market statistics, including conversational AI industry global market size, regional shares, competitors with a conversational AI market share, detailed conversational AI market segments, market trends and opportunities, and any further data you may need to thrive in the conversational AI industry. This conversational AI market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global conversational ai market size grew from $7.86 billion in 2022 to $9.73 billion in 2023 at a compound annual growth rate (CAGR) of 23.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The conversational ai market size is expected to grow to $22.07 billion in 2027 at a CAGR of 22.7%. Increasing focus on customer engagement is expected to drive the conversational AI market. Customer engagement is the process of communicating with customers through various channels to strengthen relationships. Most businesses are focusing on increasing the customer experience to increase customer loyalty and revenue generation. According to the 2022 State of Customer Engagement Report published by Twilio, a US-based customer engagement platform for customized experiences, companies that invested in digital client engagement had revenue growth of 70% over the past two years. Conversational AI involves the use of messaging apps, speech-based assistants, and chatbots to automate conversation and provide personalized consumer engagement. Therefore, increasing focus on customer engagement will drive the conversational AI market. Technological advancements in conversational AI are a key trend in the market. Companies operating in the conversational AI market have come up with various technological advancements such as no-code development technology, easier deployment, advanced machine learning and natural language processing technology to increase usage and adoption of conversational AI in industries with no technical background. For instance, in November 2021, ZeroShotBot, a chatbot builder based in the United States, released a new innovative conversational AI technology that democratizes chatbots for both large and small organizations. ZeroShotBot is an approach to constructing chatbots that can be scalable in hours and do not require training data, allowing anyone with no coding knowledge or training to create a fully functional chatbot. In March 2022, Microsoft Corporation, a US-based software company, acquired Nuance Communications Inc for a $19.7 billion deal. With this acquisition, Microsoft aims to boost its AI and cloud capabilities. This deal brings Nuance’s conversational AI and ambient intelligence with Microsoft’s secure and trusted industry cloud offerings. Nuance Communications Inc is a US-based software company that provides conversational AI and ambient intelligence across the healthcare, financial services, retail and telecommunications industries. Major players in the conversational ai market are Google Inc., IBM Corporation, Amazon Web Services Inc., Artificial Solutions Holding ASH AB, Baidu Inc., Microsoft Corporation, Oracle Corporation, SAP ERP, Kore.ai Inc., Jio Haptik Technologies Limited, Conversica Inc., Rasa Technologies Inc., Solvvy, Saarthi.ai, Exceed.ai, Mindsay, and FIS. North America was the largest region in the conversational AI market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in conversational AI market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the conversational AI market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The conversational artificial intelligence (AI) market consists of revenues earned by entities by providing machine learning and natural language processing. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global conversational ai market is segmented - 1) By Type: IVA, Chatbots 2) By Component: Platform, Services 3) By Deployment: Cloud, On-Premises 4) By Technology: Machine Learning, Deep Learning, NLP, Automated Speech Recognition 5) By End User: BFSI, Retail and E-commerce, Healthcare and Life Science, Travel and Hospitality, Telecom, Media and Entertainment, Other End-Users

Artificial intelligence (AI) is a simulation of the human intelligence in machines that are programmed to think and behave like humans. AI helps to complete the job quickly and with relatively few errors. The main technology types of artificial intelligence are machine learning, natural language processing, context-aware computing, computer vision and others. Machine learning is an artificial intelligence (AI) program that allows systems to automatically learn and improve from experience without being explicitly programmed. The AI technology is offered through hardware, software and services that are used by healthcare, automotive, agriculture, retail, marketing, telecommunication, defense, aerospace, media and entertainment and other end use industries. The artificial intelligence market research report is one of a series of new reports from The Business Research Company that provides artificial intelligence market statistics, including artificial intelligence industry global market size, regional shares, competitors with an artificial intelligence market share, detailed artificial intelligence market segments, market trends and opportunities, and any further data you may need to thrive in the artificial intelligence industry. This artificial intelligence market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global artificial intelligence market size will grow from $56.89 billion in 2022 to $73.38 billion in 2023 at a compound annual growth rate (CAGR) of 29.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global artificial intelligence market size is expected to grow to $167.29 billion in 2027 at a CAGR of 22.9%. Growing investment in AI technologies contributed to the growth of the Artificial intelligence market. Many companies are investing in AI technologies or AI start-ups to increase the efficiency of AI software as AI enables them to make more informed decisions and achieve better results. For instance, Microsoft has invested around $1 billion in OpenAI a San Francisco company. The two companies had formed a partnership to develop AI supercomputing technologies on Microsoft's cloud Azure. AI is useful across multiple sectors. For instance, AI can lead to breakthroughs in R&D and diagnostics in healthcare sector, it can help make better forecasts in finance, and in manufacturing, it can increase production controls and efficiency. Therefore, rise in investment in AI technologies due to its advantages in every sector is driving the market for the Artificial Intelligence market. The limited number of AI Experts is a major challenge in the Artificial intelligence market. To develop the AI software the company needs AI experts, practitioners, and researchers. According to Tencent, a Chinese multinational technology conglomerate holding company, there are 300k AI researchers and practitioners worldwide, but the market demand is around millions of roles. The limited number of AI experts may harm the Artificial intelligence market. Automated machine learning is being implemented by many companies. It is quite complicated to apply traditional machine learning models for real-world business problems. The better solution is to use Automated machine learning which allows non-machine learning (ML) experts to use machine learning algorithms without being machine learning wizards. For instance, tools like Google cloud AutoML are used to train custom-made and high-quality ML models with a minimum ML expertise. In January 2020, Apple acquired a Seattle-based start-up xnor.ai for a deal amount of $200 million. The acquisition is expected to strengthen in delivering AI capabilities. Xnor.ai is a US-based designer and developer of hardware and software solutions. Major players in the artificial intelligence market are Google, IBM, Baidu, Microsoft, Apple Inc., Ipsoft, NVIDIA corporation, Samsung Electronics Co.Ltd., MicroStrategy Inc., Qlik Technologies Inc., Verint Systems Inc. (Next IT Corp), Qualcomm Technologies, Micron Technology, Xilinx Inc., Intel corporation, ARM Holding, Advanced Micro Devices Inc., Huawei Technologies Co.Ltd., SAP, Intel, Salesforce, Brighterion, KITT.AI, IFlyTek, Megvii Technology, Albert Technologies, H2O.ai, Brainasoft and Yseop. Asia-Pacific was the largest region in the artificial intelligence market in 2022. North America was the second largest region in the global artificial intelligence market. The regions covered in the global artificial intelligence market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the artificial intelligence market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The artificial intelligence market includes revenues earned by entities by offering artificial intelligence software. Artificial Intelligence (AI) is sometimes referred to as machine intelligence. Artificial intelligence is a wide-ranging branch of computer science-related to building smart machines that can perform tasks that require human intelligence. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global artificial intelligence market is segmented - 1) By Offering: Hardware, Software, Services 2) By Technology: Machine learning, Natural language processing, Context-Aware Computing, Computer Vision, Other Technologies (Image processing, Speech recognition) 3) By End-user Industry: Healthcare, Automotive, Agriculture, Retail, Marketing, Telecommunication, Defense, Aerospace, Media & Entertainment, Other End-User Industries

Artificial intelligence is a wide-ranging branch of computer science-related with building smart machines that can perform tasks that require human intelligence. The main technology types of artificial intelligence services are machine learning, computer vision, natural language processing (NLP), and others. Machine learning is an artificial intelligence (AI) program that allows systems to automatically learn and improve from experience without being explicitly programmed. The various software tools used include web-based and cloud application programming interface, processing and modeler, archiving, and data storage that are used to provide managed services and professional services. The services are used by different end users such as banking, financial, and insurance (BFSI), IT and telecom, retail, manufacturing, public sector, energy and utility, and healthcare, among others. The artificial intelligence (AI) services market research report is one of a series of new reports from The Business Research Company that provides artificial intelligence (AI) services market statistics, including artificial intelligence (AI) services industry global market size, regional shares, competitors with an artificial intelligence (AI) services market share, detailed artificial intelligence (AI) services market segments, market trends and opportunities, and any further data you may need to thrive in the artificial intelligence (AI) services industry. This artificial intelligence (AI) services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global artificial intelligence services market size will grow from $12.39 billion in 2022 to $18.34 billion in 2023 at a compound annual growth rate (CAGR) of 48.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global artificial intelligence services market size is expected to grow to $55.38 billion in 2027 at a CAGR of 31.8%. The rise in the adoption of cloud-based solutions is a key factor driving the growth of the artificial intelligence services market. Artificial intelligence (AI) as a service lets businesses experiment with AI for different activities without a high initial investment. Experimentation enables many cloud computing platforms to check different machine learning algorithms and helps streamline how data is analyzed and managed. Businesses are deeply interested in cloud-based machine learning, which lets them experiment through their services and help their clients make informed decisions based on the data. For instance, in March 2020, Google announced the beta launch of Cloud AI Platform Pipelines, which provides its customers with repeatable machine learning pipelines that can be installed easily and used for machine learning workflows securely. The integration of AI applications into its cloud draws more customers, thus enhancing market growth over the forecast period. Therefore, the rise in the adoption of cloud-based solutions is expected to drive the growth of the artificial intelligence services market. The risks associated with data breaches and hacks are hampering the growth of the artificial intelligence services market. The World Economic Forum (WEF) has cautioned that new technologies such as the Internet of Things, artificial intelligence, and quantum computing can turn around human lives, but may also make society more vulnerable to cyber-attacks. It was stated that attacks occur on average once every 39 seconds and a single breach could cost as much as $150 million in 2020. Although companies and organizations are aware of these risks, breach activity still takes around six months to detect, and the long delays between original network breach and security responses allow hackers to take advantage of significant quantities of data. According to the State of the breach June 2020, about 16 billion records including credit card numbers, phone numbers, home addresses, and other sensitive information were exposed through data breaches since 2019. Therefore, the risks associated with data breaches and hacking hampers the growth of the artificial intelligence services market. The use of artificial intelligence as a service for human interaction with machines using natural language processing (NLP) is a key trend shaping the artificial intelligence services market. Natural language processing (NLP) is a type of artificial intelligence that explains how human language and computers interact. Machine translation is an enormous technology for NLP that enables us to overcome the challenges to contact people from all over the world and to understand software manuals and catalogs written in a foreign language. For instance, the Livox app, a customizable application in 25 languages helps the disabled to communicate. In January 2021, ServiceNow, a US-based provider of information technology management software for companies, acquired Element AI for $230 million. The acquisition of Element AI would significantly strengthen ServiceNow's commitment to developing the most intelligent workflow platform in the world, allowing staff members to work more quickly and intelligently, simplify business choices, and reach new heights of productivity. Element Ai is a Canada-based artificial intelligence (AI) company. Major players in the artificial intelligence services market are Intel Corp., International Business Machines Corp., Microsoft Corp., SAP SE, SAS Institute Inc., Amazon.com Inc., Salesforce, Google LLC., Oracle Corporation, Fair Isaac Corporation, Alphabet Inc., Apple Inc., CognitiveScale, Inc., Baidu, Inc., BigML, H2O.ai and Baidu Inc. Asia-Pacific was the largest region in the artificial intelligence services market in 2022. North America was the second largest region in the global artificial intelligence services market. The regions covered in the global artificial intelligence services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the artificial intelligence services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The artificial intelligence services market includes revenues earned by entities by providing AI services that are used in telecommunications, government, retail, defense and healthcare. Companies in the artificial intelligence market provide outsourced services to cater to business requirements. AI as a service enables individuals and businesses to use AI for different purposes, without significant initial investment and with lower risk. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global artificial intelligence services market is segmented - 1) By Technology: Machine Learning, Computer Vision, Natural Language Processing (NLP), Other Technology 2) By Services Type: Managed Services, Professional Services 3) By Software Tools: Web-based and Cloud Application Programming Interface, Processing and Modeler, Archiving and Data Storage 4) By Application Type: Fraud Detection, Data Analytics & Visualization, Customer Service and Management, Rsik Management, Compliance & Security 5) By End-User: Banking, Financial, and Insurance (BFSI), IT & Telecom, Retail, Manufacturing, Public Sector, Energy & Utility, Healthcare, Other End-Users

Speech analytics is the process of using voice recognition software to analyze voice recordings or live calls from customers to contact centers, find useful information, and provide quality assurance. The components of speech analytics include solutions and services. The solutions in the speech analytics market consist of the sales of speech analytics solutions by entities (organizations, partnerships, and sole proprietors) that are used for analyzing the conversation. A speech analytics solution concentrates on words spoken during a recorded phone call. This technology organizes the content of agent-customer conversations by transforming speech into text. The deployment mode used by speech analytics includes on-premises and cloud. The speech analytics solutions and services are used in customer experience management, call monitoring and summarization, agent performance monitoring, sales and marketing management, risk and compliance management, and sentiment analysis, by large enterprises and small and medium-sized enterprises (SMEs). The industry verticals utilizing speech analytics solutions and services include banking financial services and insurance (BFSI), IT and telecom, media and entertainment, retail and eCommerce, travel and hospitality, government and defense, healthcare and life sciences, and other verticals. The speech analytics market research report is one of a series of new reports from The Business Research Company that provides speech analytics market statistics, including speech analytics industry global market size, regional shares, competitors with a speech analytics market share, detailed speech analytics market segments, market trends and opportunities, and any further data you may need to thrive in the speech analytics industry. This speech analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global speech analytics market size grew from $2.13 billion in 2022 to $2.64 billion in 2023 at a compound annual growth rate (CAGR) of 24.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The speech analytics market size is expected to grow to $6.34 billion in 2027 at a CAGR of 24.5%. The high adoption of speech analytics by companies is significantly driving the growth of the speech analytics market. Since speech analytics help in problem identification, customer experience enhancement as well as sentiment analysis, companies across various industrial segments are adopting speech analytics rapidly. This creates a huge scope for future development of speech analytics technology by key companies through partnerships and strategic alliances. For instance, in September 2021, Scotiabank partnered with Google Cloud to strengthen the bank's cloud-first commitment and speed up its global speech, text, and data analytics strategy. Google Cloud, as a Scotiabank trusted partner for analytics, will assist Scotiabank customers in the Americas and around the world in creating a more personalized and predictive banking experience. This partnership helps Scotiabank to offer more customized banking services by adopting speech and data analytics using Google Cloud. Hence, the increasing adoption of speech analytics by companies is expected to propel the growth of the speech analytics market over the coming years. Using advanced technology is a key trend gaining popularity in the speech analytics market. Major companies operating in the speech analytics sector are focused on developing new technological solutions to strengthen their position. For instance, in April 2021, Verint released the Verint Intelligent Virtual Assistant Professional (IVA Pro) Package, a low-code conversational artificial intelligence (AI) offering that can transform existing conversation data into automated self-service experiences quickly. The package, which is included in Verint's market-leading Intelligent Virtual Assistant (IVA) offering, enables business professionals to quickly deploy a production-ready chatbot to deflect calls and provide customer support. With boundless intelligence for both voice and digital, Verint IVA enables businesses to expand capabilities across the enterprise. In January 2021, Pegasystems Inc., a software company based in the United States that specializes in reducing business complexity, completed the acquisition of Qurious.io, a California-based provider of cloud-based real-time speech analytics solutions for customer service teams powered by artificial intelligence (AI), for an undisclosed sum. This acquisition allows Pegasystems to expand its customer service and bring its intelligent speech analytics software to hundreds of the world's most important brands. Major players in the speech analytics market are NICE Ltd., Verint, Avaya Holdings Corporation, OpenText, Genesys, Calabrio Inc., Clarabridge, Castel Communications, VoiceBase, Google, Vonage, Micro Focus, Zoom International, Almawave, Talkdesk, Alvaria, and Hewlett Packard Enterprise Company. North America was the largest region in the speech analytics market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the speech analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the speech analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The speech analytics market includes revenues earned by entities by providing solutions that understand, analyse, and derive insights from a voice conversation by utilising AI services such as transcription, natural language processing, and speech technologies. Speech analytics is a software application that transcribes the voice calls and extracts deep insights, trends, and metrics from each one. These insights are then used to evaluate agent performance, assess customer experience, and track the organization's overall strengths and weaknesses in every voice interaction. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global speech analytics market is segmented - 1) By Components: Solutions, Services 2) By Deployment Mode: Cloud, On-premises 3) By Organization Size: Large enterprises, Small and Medium-Sized Enterprises (SMEs) 4) By Applications: Customer Experience Management, Call Monitoring and Summarization, Agent Performance Monitoring, Sales and Marketing Management, Risk and Compliance Management, Sentiment Analysis 5) By Vertical: Banking Finance Services and Insurance (BFSI), IT and Telecom, Media and Entertainment, Retail and eCommerce, Travel and Hospitality, Government and Defence, Healthcare and life sciences, Other Verticals

Voice over Internet Protocol (VoIP) is a communications technology that enables people to communicate via audio over the internet rather than via a traditional telephone line. VoIP enables making a call directly from a computer or a special VoIP phone. The main types of VoIP are integrated access or session initiation protocol (SIP) trunking, managed IP PBX and hosted IP PBX. The session initiation system (SIP) is used to enable the VoIP by managing the actual elements to support voice calls, instant messaging, media distribution and video conferencing. The different call types include international VoIP calls, domestic VoIP calls and have several access types such as phone to phone, computer to computer, computer to phone and can access. The different mediums include fixed, mobile and is used by various verticals such as consumers, small and medium businesses, large enterprises. The voice over internet protocol (VoIP) market research report is one of a series of new reports from The Business Research Company that provides voice over internet protocol (VoIP) market statistics, including voice over internet protocol (VoIP) industry global market size, regional shares, competitors with a voice over internet protocol (VoIP) market share, detailed voice over internet protocol (VoIP) market segments, market trends and opportunities, and any further data you may need to thrive in the voice over internet protocol (VoIP) industry. This voice over internet protocol (VoIP) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global voice over internet protocol (VoIP) market size grew from $106.62 billion in 2022 to $120.38 billion in 2023 at a compound annual growth rate (CAGR) of 12.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The voice over internet protocol (VoIP) market size is expected to grow to $207.77 billion in 2027 at a CAGR of 14.6%. The growing adoption of 5G technology is expected to drive the growth of the voice over internet protocol (VoIP) market in the coming years. 5G provides faster transmissions, lower latency, and the ability to connect a larger number of devices by providing gigabyte rates, which will provide enough bandwidth for VoIP. As a result, a growing number of businesses are switching to VoIP to replace their outdated PSTN phone systems. Switching to VoIP improves call quality and dependability while lowering call and infrastructure costs significantly. For instance, according to vXChnge, a US-based colocation and data center service provider, by 2024 5G networks are projected to cover 40% of the world, handling 25% of all mobile traffic data. Therefore, the growing adoption of 5G technology propels the growth of the VoIP market. The smarter VOIP assistants is shaping the VoIP market. Smarter VoIP Assistants such as Apple's Siri, Amazon's Alexa, and Google's Ok Google can help customers automate a variety of tasks including routing calls to agents and forwarding calls to voicemail. Furthermore, with these tools at their disposal, consumers will no longer need to send simple questions to agents because the virtual assistant will be able to respond. According to DialogTech, a US-based software company, in 2020, 28% of people are using smarter VOIP assistants for business calls. In August 2021, TelcoSwitch, a UK-based telecommunications service provider acquired SureVoIP for an undisclosed amount. Through this acquisition TelcoSwitch's portfolio will be bolstered by the addition of more IP, notably strengthening the company's solutions for the SOHO/micro-market and paving the way for new residential-based services. SureVoIP is a UK-based telephony service provider that supplies business VoIP services to the businesses based in the UK. Major players in the voice over internet protocol (VoIP) market are Verizon Communications, Comcast, Orange S.A., AT&T, Charter Communications, Vonage, Altice USA Inc., Telmex, Time Warner Cable, Numericable, Cox Communications, Rogers Communications, Sprint Corporation, TalkTalk Group, RingCentral, Patton Electronics, San Antonio Telephone Co., and OneVoice Communications Inc. Asia-Pacific was the largest region in the VoIP market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the voice over internet protocol (VoIP) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the voice over internet protocol (VoIP) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The voice over Internet Protocol (VoIP) market includes revenues earned by entities by real-time transport protocol (RTP), designed to carry streaming audio and video. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global voice over internet protocol voip market is segmented - 1) By Type: Integrated Access Or Session Initiation Protocol (SIP) Trunking, Managed IP PBX, Hosted IP PBX 2) By Access Type: Phone To Phone, Computer To Computer, Computer To Phone 3) By Call Type: International VoIP Calls, Domestic VoIP Calls 4) By Medium: Fixed, Mobile 5) By End User: Consumers, Small And Medium Businesses, Large Enterprises

Information technology (IT) is the use of computers, storage, networking and other physical devices, infrastructure and processes to create, process, store, secure and exchange all forms of electronic data. The main type of information technology (IT) are IT services, computer hardware, telecom, and software products. Computer hardware is the physical components that a computer system requires to function and encompasses everything within a PC or laptop. The services are used by large, small, and medium enterprises of financial services, retail and wholesale, manufacturing, healthcare and others. The information technology (IT) market research report is one of a series of new reports from The Business Research Company that provides information technology (IT) market statistics, including information technology (IT) industry global market size, regional shares, competitors with information technology (IT) market share, detailed information technology (IT) market segments, market trends and opportunities, and any further data you may need to thrive in the information technology (IT) industry. This information technology (IT) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global information technology market grew from $8179.48 billion in 2022 to $8852.41 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The information technology market is expected to grow to $11995.97 billion in 2027 at a CAGR of 7.9%. The demand for cloud computing services is expected to drive the demand for IT services during the forecast period. In the cloud computing model, data is stored on the internet by a cloud computing provider, who manages and operates data storage as a service. Many companies are now choosing applications hosted in the cloud for their day-to-day operations. For example, according to statistics provided by hostingtribunal.com, 60% of computing workloads were running in the public cloud in 2019. Similarly, 94% of enterprise workloads are expected to be processed by cloud data centers in 2021. Companies are also opting for cloud-based data storage, thus boosting the demand for IT services. The outbreak of COVID-19 disease (COVID-19) has acted as a significant restraint on the information technology market in 2020 as supply chains were disrupted due to trade restrictions and employees working for these establishments faced difficulties related to infrastructure and communication owing to lockdowns imposed by governments globally, forcing them to work from home. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity, with countries entering a state of 'lock down,' and the outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the information technology market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. Over the past five years there has been an increasing prevalence of low cost open source alternatives. Open source has become a preferred platform for developing new technology. In the past, software publishers would open source software that was not making money, but now companies are open sourcing software to increase their presence and share in the market. Supabase, a YC-incubated startup that offers developers an open-source alternative, announced that it had raised a $6 million in funding to create new open-source tools. Major companies in the information technology (IT) market include Apple, Microsoft, Verizon Communications, China Mobile, AT&T Inc., Huawei, Deutsche Telekom AG, Dell Technologies Inc., Samsung Electronics Co., Ltd. and Comcast Corporation. Asia-Pacific was the largest region in the information technology (IT) market in 2022. North America was the second largest region of the information technology market. The regions covered in the information technology market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the information technology (IT) market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. Major companies in the information technology (IT) market include Apple, Microsoft, Verizon Communications, China Mobile, AT&T Inc., Huawei, Deutsche Telekom AG, Dell Technologies Inc., Samsung Electronics Co., Ltd. and Comcast Corporation. Asia-Pacific was the largest region in the information technology (IT) market in 2022. North America was the second largest region of the information technology market. The regions covered in the information technology market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the information technology (IT) market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The information technology (IT) market consists of revenues earned by entities by providing IT services such as computer networking, broadcasting, systems design services and information distribution technologies like television and telephones and other equipment used during the process. The market value includes the value of related goods sold by the service provider or included within the service offering. The information technology market also includes sales of computers, computer peripherals and telecommunications equipment which are used in providing IT services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global information technology market is segmented - 1) By Type: IT Services, Computer Hardware, Telecom, Software Products 2) By Organization Size: Large Enterprise, Small and Medium Enterprise 3) End User Industry: Financial Services, Retail & Wholesale, Manufacturing, Healthcare, Other End User Industries Subsegments Covered: Hardware Support Services, Software And BPO Services, Cloud Services, Computer Peripheral Equipment, Computer Storage Devices And Servers, Computers, Wireless Telecommunication Carriers, Wired Telecommunication Carriers, Communications Hardware, Satellite & Telecommunication Resellers, Operating Systems & Productivity Software Publishing, Database, Storage & Backup Software Publishing, Business Analytics & Enterprise Software, Video Game Software, Design, Editing & Rendering Software