Voice Assistant Application Market Size, Share, Growth Analysis, By Technology(Speech Recognition, and Natural Language Processing ), By Deployment(On-Premises, and Cloud), By End User Verticals(IT & Telecommunications, BFSI) - Industry Forecast 2024-2031

Global Voice Assistant Application Market size was valued at USD 6.02 billion in 2022, USD 7.90 billion in 2023 and is projected to grow USD 11.28 billion by 2031, growing at a CAGR of 31.2% in the forecast period (2024-2031).

The voice assistant software is a clever helper that can access a vast quantity of data on the gadget and assists users with basic tasks. By translating voice into text, these technologies help to improve the services provided by voice assistants by interpreting words. Programmes known as voice assistants are capable of carrying out a variety of functions, such as placing an internet order or setting up an appointment. A smart personal assistant can help with everyday duties like playing music, sending private messages, setting alarms, and more. The market for voice assistant apps is anticipated to grow significantly as automatic voice recognition and natural language processing technologies advance.

By this year, there will be more than three times as many gadgets connected to internet networks as there are people on the planet. According to the estimate, the number of networked devices per person would increase from 2.4 in 2018 to about 3.6 this year. Furthermore, it predicts that by this year, there will be 29.3 billion networked devices, up from 18.4 billion in 2018. Every year, a variety of new gadgets with enhanced intelligence and capabilities are created and introduced into the market in various form factors. The use of voice assistant application solutions will grow as the number of connected devices rises. Voice assistants may help with things like scheduling meetings, discussing the weather forecast, and providing sports scores in addition to helping to interpret spoken language.