The global voice assistant market is gaining prominently at 28.5% CAGR over the forecasted period owing to the rising popularity of connected devices, increasing instances of voice search, increasing demand for self-service applications will propel the market growth. The increasing need to enhance customer experience, the emergence of low-code platforms, and mounting demand for contact centers will boost the growth of the voice assistant market.

The COVID-19 outbreak has integrated voice assistant applications in various channels like websites, mobile applications, contact centers to enhance the customer experience even with less workforce.

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Based on technology, NLP technology will have a faster growth owing to the rising demand for chatbots as they help to solve queries of customers, analyze actions, and respond at a much faster pace as compared to human beings.

APAC is anticipated to have the fastest growth owing to the increasing adoption of developed technologies like NLP and ML, increasing number of contact centers, economic development in emerging economies like China and India will bolster the growth of the voice assistant market in the region.

The prominent players in the voice assistant industry include IBM Corporation, Salesforce.com Inc., Amazon.com Inc., Apple Inc., Microsoft Corporation, Verint Systems Inc., Nokia Corporation, Alphabet Inc., Orange SA, and Samsung Electronics Co. Ltd.

Source: VynZ Research