Digital Transformation Contributes to Rising Voice Assistant App Market By CIOTechOutlook Team

Digital Transformation Contributes to Rising Voice Assistant App Market

CIOTechOutlook Team | Tuesday, 16 July 2024, 09:01 IST

Digital transformation is driving the growth of global voice assistant application market. The market size is estimated to grow by USD 21.93 billion from 2024-2028, according to Technavio. It is anticipated to grow at a CAGR of 40.94% during the forecast period.

Consumers are placing a high importance on convenience with electronic devices in their homes, leading to notable growth in the voice assistant application market. Voice-controlled appliances via Amazon Alexa and Google Home apps are gaining popularity in the smart home industry.

North America and Europe are at the forefront of implementing this technology, with developing economies in Asia Pacific also showing a growing interest in it. One example is the development of connected homes by Godrej Interio in India.

Nevertheless, the company expects that it will take a while for the idea to become popular. Voice assistant apps are changing transportation, urban planning, and city safety by incorporating AI platforms.

Voice assistant apps are gaining popularity due to the increase in AI technologies and devices that respond to voice commands. Juniper Research predicts that the amount of voice assistant users will hit 8.4 billion by 2024. Advancements in speech recognition and machine learning are driving the growth of voice-based systems, improving their efficiency and effectiveness in customer engagement.