DUBLIN--(BUSINESS WIRE)--The "Global Voice Assistant Landscape Market - Segmented by Application, End-user Industry, and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
Growing popularity of voice assistants are mainly due to changing lifestyle and preferences of people, convenience in terms of providing better content and acting as a curator for various activities, along with providing an emotional touch to the consumers.
Growing Adoption of Smart Homes
The use of voice assistance is seen in smart home appliances as it can communicate and has emerged as an effective solution to save energy, thus, minimizing energy costs. Revenue from smart homes adoption is expected to grow at a rate of 25% during the forecast period. Major factors, such as rising purchasing power and changing lifestyles of people are driving the demand for smart home appliances worldwide. Alexa is Amazon's voice service adopted by consumers to control smart home devices, such as cameras, door locks, entertainment systems, lighting, and thermostats.
BFSI - The Highest Growing Segment
The increase in consumer usage of voice-based assistants in banking system is mainly due to highly personalized uses to make consumers easy, apart from saving time. Moreover, it makes banking more comprehensive especially for the visually impaired, giving them more freedom in day-to-day banking. U.S. banks became the first to allow customers to use Amazon echo to check their balance, obtain the transaction history, and make credit-card payments thus, making them more customer-centric.
Key Developments in Market
- January 2018: Google joined with Sony and Lenovo for smart speakers with voice-controlled assistance in order to challenge Amazon's dominance in emerging market
- October 2017: Motorola integrated with Amazon Alexa for providing better voice-controlled convenient functionalities
- Microsoft Corporation
- Motorola Corporation
Other Prominent Players
- Sony Corporation
Key Topics Covered
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
5. Global Voice Assistant Landscape Market Segmentation
6. Competitive Intelligence - Company Profiles
7. Investment Analysis
8. Future Outlook of Voice Assistant Landscape Market
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