Product Code: GVR-4-68040-122-0
Voice User Interface Market Growth & Trends:
The global voice user interface market size is anticipated to reach USD 92.4 billion by 2030, registering a CAGR of 21.3% from 2023 to 2030, according to a new report by Grand View Research, Inc.. The market has been experiencing significant growth in recent years due to the increasing number of voice assistants and smart speakers popular among consumers. The convenience of hands-free interactions and the growing ecosystem of compatible devices contributed to the continued adoption of voice user interfaces (VUIs).
The rise of smart speakers like Amazon Echo (Alexa), Google Home (Google Assistant), and Apple HomePod (Siri) has been a major growth driver for the VUI market. Consumers found voice-activated devices convenient for tasks like playing music, controlling smart home devices, setting reminders, and answering queries. Moreover, voice user interfaces were being integrated into an ever-expanding range of devices and applications, including smartphones, smart TVs, cars, wearables, and home appliances. This trend was fueled by the desire to create more natural and hands-free interactions with technology.
Advances in artificial intelligence (AI) and natural language processing (NLP) technologies have driven market growth. These technological improvements have significantly enhanced voice-based systems' capabilities and user experience, making them more accurate, efficient, and user-friendly. For example, AI-powered speech recognition algorithms have become increasingly sophisticated, enabling VUIs to understand and interpret spoken language more accurately. As a result, users experience fewer errors and frustrations during interactions, leading to higher satisfaction and increased usage.
Enterprises have increasingly explored using voice user interfaces for various business applications. Adopting VUIs in the business world offers several advantages, including improved efficiency, enhanced user experience, and increased productivity. For example, voice user interfaces are employed in customer support and service applications to handle common customer queries, provide self-service options, and offer real-time assistance. This reduces the need for human intervention in routine inquiries, leading to cost savings and faster response times. Moreover, voice user interfaces equipped with advanced NLP capabilities are being used for data analysis and generating business insights. By interacting with VUIs, decision-makers can receive natural language summaries of complex data and obtain valuable insights to support strategic decision-making.
Voice User Interface Market Report Highlights:
- By offering, the solution segment dominated the market with a revenue share of 82.3% in 2022.The development of more sophisticated NLP techniques improved the accuracy and understanding of voice commands. These enabled users to interact with devices and systems more naturally and conversationally, enhancing the overall user experience
- By application, the smart speakers segment dominated the market with a revenue share of 24.6% in 2022. Smart speaker manufacturers were diversifying their product offerings to cater to different user needs and preferences. This included variations in size, sound quality, design aesthetics, and additional features
- By industry vertical, the consumer electronic segment held the largest revenue share of 20.8% in 2022.Consumer electronics manufacturers were focusing on integrating voice control into smart home devices. This included products like smart thermostats, lights, locks, and appliances, enabling users to control their environment hands-free
- North America dominated the market with a revenue share of 29.7% in 2022. The region actively contributed to advancements in speech recognition, natural language processing, and AI-driven voice interactions.North America was also exploring voice user interfaces for enterprise applications. This included voice-enabled customer support, virtual assistants for business tasks, and integration into various industries
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Research Methodology
- 1.2 Research Scope & Assumptions
- 1.3 List of Data Sources
Chapter 2 Executive Summary
- 2.1 Voice User Interface Market- Industry Snapshot & Key Buying Criteria, 2017 - 2030
- 2.2 Industry Trends
- 2.2.1 Offering
- 2.2.2 Application
- 2.2.3 Vertical
Chapter 3 Industry Outlook
- 3.1 Market Definition
- 3.1.1 Market segmentation & scope
- 3.2 Voice User Interface Market Growth Prospects
- 3.3 Voice User Interface Market Value Chain Analysis
- 3.4 Voice User Interface Market Dynamics
- 3.4.1 Market driver analysis
- 3.4.2 Market restraint analysis
- 3.4.3 Market Opportunities Analysis
- 3.5 Industry Analysis - Porter's
- 3.6 Penetration & Growth Prospect Mapping, 2030
- 3.7 Voice User Interface Market - PEST analysis
Chapter 4 Voice User Interface Market: Offering Estimates & Trend Analysis
- 4.1 Solution
- 4.1.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 4.2 Services
- 4.2.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 5 Voice User Interface Market: Application Estimates & Trend Analysis
- 5.1 Smart Speakers
- 5.1.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 5.2 Interactive Voice Response
- 5.2.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 5.3 Voice-controlled Devices
- 5.3.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 5.4 Smartphones & Tablets
- 5.4.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 5.5 Others
- 5.5.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 6 Voice User Interface Market: Vertical Estimates & Trend Analysis
- 6.1 BFSI
- 6.1.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 6.2 Retail & E-commerce
- 6.2.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 6.3 Consumer Electronic
- 6.3.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 6.4 Automotive & Transportation
- 6.4.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 6.5 Healthcare & Life Science
- 6.5.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 6.6 Travel & Hospitality
- 6.6.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 6.7 Government & Defense Sector
- 6.7.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
- 6.8 Others
- 6.8.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 7 Voice User Interface Market: Regional Estimates & Trend Analysis
- 7.1 North America
- 7.1.1 North America Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 7.1.2 North America Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.1.3 North America Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
- 7.1.4 U.S.
- 7.1.4.1 U.S. Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 7.1.4.2 U.S. Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.1.4.3 U.S. Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
- 7.1.5 Canada
- 7.1.5.1 Canada Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 5.1.5.2 Canada Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.1.5.3 Canada Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
- 7.2 Europe
- 7.2.1 Europe Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 7.2.2 Europe Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.2.3 Europe Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
- 7.2.4 Germany
- 7.2.4.1 Germany Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 7.2.4.2 Germany Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.2.4.3 Germany Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
- 7.2.5 UK
- 7.2.5.1 UK Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 7.2.5.2 UK Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.2.5.3 UK Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
- 7.2.6 FRANCE
- 7.2.6.1 FRANCE Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 7.2.6.2 FRANCE Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.2.6.3 FRANCE Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
- 7.3 Asia Pacific
- 7.3.1 Asia Pacific Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 7.3.2 Asia Pacific Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.3.3 Asia Pacific Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
- 7.3.4 Japan
- 7.3.4.1 Japan Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 7.3.4.2 Japan Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.3.4.3 Japan Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
- 7.3.5 China
- 7.3.5.1 China Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 7.3.5.2 China Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.3.5.3 China Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
- 7.3.6 India
- 7.3.6.1 India Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 7.3.6.2 India Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.3.6.3 India Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
- 7.3.7 South Korea
- 7.3.7.1 South Korea Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 7.3.7.2 South Korea Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.3.7.3 South Korea Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
- 7.3.8 Australia
- 7.3.8.1 Australia Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 7.3.8.2 Australia Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.3.8.3 Australia Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
- 7.4 Latin America
- 7.4.1 Latin America Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 7.4.2 Latin America Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.4.3 Latin America Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
- 7.4.4 Brazil
- 7.4.4.1 Brazil Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 7.4.4.2 Brazi Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.4.4.3 Brazi Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
- 7.4.5 Mexico
- 7.4.5.1 Mexico Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 7.4.5.2 Mexico Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.4.5.3 Mexico Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
- 7.5 Middle East & Africa
- 7.5.1 MEA Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 7.5.2 MEA Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.5.3 MEA Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
- 7.5.4 KSA
- 7.5.4.1 KSA Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 7.5.4.2 KSA Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.5.4.3 KSA Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
- 7.5.5 UAE
- 7.5.5.1 UAE Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 7.5.5.2 UAE Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.5.5.3 UAE Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
- 7.5.6 South Africa
- 7.5.6.1 South Africa Voice User Interface Market by Offering, 2017 - 2030 (USD Million)
- 7.5.6.2 South Africa Voice User Interface Market by Application, 2017 - 2030 (USD Million)
- 7.5.6.3 South Africa Voice User Interface Market by Vertical, 2017 - 2030 (USD Million)
Chapter 8 Competitive Landscape
- 8.1 Amazon, Inc.
- 8.1.1 Company Overview
- 8.1.2 Product Benchmarking
- 8.1.3 Strategic Initiatives
- 8.2 Apple, Inc.
- 8.2.1 Company Overview
- 8.2.2 Financial Performance
- 8.2.3 Product Benchmarking
- 8.2.4 Strategic Initiatives
- 8.3 Baidu, Inc
- 8.3.1 Company Overview
- 8.3.2 Product Benchmarking
- 8.4 Google LLC
- 8.4.1 Company Overview
- 8.4.2 Financial Performance
- 8.4.3 Product Benchmarking
- 8.4.4 Strategic Initiatives
- 8.5 IBM
- 8.5.1 Company Overview
- 8.5.2 Financial Performance
- 8.5.3 Product Benchmarking
- 8.5.4 Strategic Initiatives
- 8.6 Meta Platform, Inc.
- 8.6.1 Company Overview
- 8.6.2 Financial Performance
- 8.6.3 Product Benchmarking
- 8.6.4 Strategic Initiatives
- 8.7 Nuance Communication
- 8.7.1 Company Overview
- 8.7.2 Financial Performance
- 8.7.3 Product Benchmarking
- 8.7.4 Strategic Initiatives
- 8.8 SAMSUNG
- 8.8.1 Company Overview
- 8.8.2 Financial Performance
- 8.8.3 Product Benchmarking
- 8.8.4 Strategic Initiatives
- 8.9 SoundHound AI Inc.
- 8.9.1 Company Overview
- 8.9.2 Financial Performance
- 8.9.3 Product Benchmarking
- 8.9.4 Strategic Initiatives
- 8.10 Speechly
- 8.10.1 Company Overview
- 8.10.2 Financial Performance
- 8.10.3 Product Benchmarking