Intelligent Virtual Assistant Revenue to Reach $50.9 Billion

The global intelligent virtual assistant market — including text-to-speech and speech recognition — is projected to reach $50.9 Billion by 2030, growing at a CAGR of ~6% from 2020 to 2030. North America will dominate the market during the forecast period.

via Transparency

Voice Assistant and Smart Audio Gain Momentum

“Despite years of work, the leading trio of Amazon Alexa, Apple Siri, and Google Assistant are still mostly used for simple tasks and often stumble on detailed or obscure requests. But there’s more audio innovation in the market now.”

via Forrester

Global Smart Speaker Shipments Gain Momentum

The worldwide smart speaker market grew 52% in Q4 2019, with vendors shipping 49.2 million units in the quarter. For full-year 2019, vendors shipped a total of 125 million smart speakers worldwide — 60% more than in 2018.

via Canalys

Automotive HMI Revenue will Reach $4.6 Billion

The global market for AI-enabled automotive HMI software will increase from $462.8 million in 2018 to $4.6 billion by 2025. The vast majority of revenue will be derived from in-vehicle voice and speech recognition applications.

via Tractica

Natural Language Processing Spend to Reach $43.3B

Utilization of Natural Language Processing (NLP) is expanding quickly across 17 industries, encompassing a total of 44 discrete use cases. Global software, hardware, and AI services spending on NLP will reach $43.3 billion by 2025.

via Tractica

Fintech Trends – The End of Legacy Marketing at Banks

Artificial Intelligence (AI) and machine learning will improve financial service sales and marketing by enabling processes and communication without continuous direction. The addition of voice-first communication systems could eliminate much of the power of ‘push marketing’.

Source: The Financial Brand

Artificial Intelligence Voice Apps Adopted in the Enterprise

Among the 58% of U.S. business executives who already had AI-powered solutions deployed at their company, nearly a third cited voice recognition and voice response solutions as the AI technology they use most.

Source: eMarketer

How Personal Assistants will Transform Our User Experience

Gartner’s annual mobile applications survey found that 42 percent of respondents in the U.S. and 32 percent in the UK used VPAs on their smartphones in the last three months. More than 37 percent of respondents (average across U.S. and UK) used a VPA at least one or more times a day.

Source: Digital Lifescapes

How Digital Assistants will Transform Consumer Electronics

The introduction of smartphones has been a game changer, impacting what we expect from a mobile handset. Now mobile device manufacturers have created new modes of voice control, utilizing cognitive computing capabilities in the cloud, that allow smartphone users to operate the device without touching it.

Source: Digital Lifescapes

Smart Homes Gain New Voice Integration and Control Apps

With ABI Research forecasting more than 120 million voice-enabled devices to ship annually by 2021, voice control — which combines speech recognition and natural language processing — is becoming the key user interface within the smart home environment.

Source: Digital Lifescapes