Voice User Interface Market Size, Growth, Market Analysis, Segmentation, And Forecast To 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Voice User Interface Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The voice user interface market size has grown exponentially in recent years. It will grow from $21.16 billion in 2023 to $25.78 billion in 2024 at a compound annual growth rate (CAGR) of 21.8%. The growth in the historic period can be attributed to proliferation of smart devices, accessibility and inclusivity, consumer preference for hands-free interaction, improved speech recognition accuracy, enterprise adoption for productivity..

The voice user interface market size is expected to see exponential growth in the next few years. It will grow to $55.86 billion in 2028 at a compound annual growth rate (CAGR) of 21.3%. The growth in the forecast period can be attributed to continued growth in smart speaker market, globalization and language support, increasing in healthcare applications, customization and personalization,rise of voice-enabled gaming.. Major trends in the forecast period include integration into consumer electronics and iot devices, advancements in natural language processing (nlp), multimodal interfaces and voice-enabled screens, voice commerce and shopping, voice authentication and security, education and e-learning integration..

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Key Market Players:

Major companies operating in the voice user interface market report are Apple Inc., Advanced Voice Recognition Systems Inc., Amazon.com Inc., Baidu Inc., Meta Platforms Inc., Google LLC, Microsoft Corporation, Nuance Communication, Samsung Electronics Co. Ltd., SoundHound Inc., CastleOS LLC, Speechly Oy, Zaion SAS, Vilmate LLC, Renesas Electronics Corporation, Apexon Inc., Charles River Analytics Inc., Kasisto Inc., Kardome Ltd., Kili Technology Corporation, Fluent.ai Inc., Vesper Technologies Inc., Voxable Inc., Sensory Inc., iFlytek Co. Ltd., HARMAN International, ClearOne, Crestron Electronics Inc., Extron Electronics, Shure Incorporated, Zoom Video Communications Inc.

Market Drivers:

The rise in the usage of artificial intelligence is expected to propel the voice user interface (VUI) market going forward. Artificial intelligence describes how machines mimic human intelligence. The VUI uses AI technology to enable users to communicate with various devices. The voice AI trend is gaining popularity due to various third-party platforms as it offers an improved customer experience. As a result, more companies include the use of AI technology as part of their growth strategy, which is in turn driving the voice user interface market. For instance, according to the Global AI Adoption Index 2022 survey, which included the participation of 7.5k businesses around the world and was published by IBM, a US-based technology company, 13% of organizations are more likely to have adopted AI in 2022 globally, with 35% of companies reporting the use of AI in their business, a four-point increase from 2021. Therefore, the rise in the usage of artificial intelligence is driving the growth of the voice user interface (VUI) market.

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The voice user interface market covered in this report is segmented -

1) By Product: Solution, Service
2) By Technology: AI-Based, Non-AI Based
3) By Application: Smart Speakers, Interactive Voice Response, On-Premise Solutions, Cloud Solutions, Voice-Controlled Devices, Smartphones And Tablets, Other Applications
4) By Industry Vertical: BFSI, Retail And Ecommerce, Consumer Electronic, Automotive And Transportation, Healthcare And Life Science, Travel And Hospitality, Government And Defense Sector, Other Industry Verticals

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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