Investor Alert

Jan. 13, 2021, 7:49 a.m. EST

Digital Assistant Market Size, Key Players, Growth Factors, Covid-19 Outbreak, Regions and Applications, Industry Forecast by 2023

Jan 13, 2021 (Heraldkeepers) -- The global digital assistant market has led by North America in 2016 by generating highest revenue of USD 1 billion and is expected to grow with 22% CAGR. Whereas, Asia-Pacific is projected to be the fastest growing region with 27% CAGR during forecast period 2017-2023.

An intelligent digital assistant works as the primary interface between digital data and computers. The software performs tasks on the basis of input provided and by accessing online information. Digital assistant technology implements the combination of a mobile device, mobile application, and user interface. Technology giants like Apple, Samsung, Google and Amazon have come up with their digital assistants like Apple's Siri and Amazon's Echo which make the mobile user experience more convenient and user friendly.

Regional Analysis

The competitive landscape of global digital assistant market is formed by major players of the market and some of the new entrants. North America leads the market for global digital assistant market. The technical advancements in the region, developed network architecture and high adoption rate of home speakers are driving the market for global digital assistant.

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Nuance Communications Inc., in June 2016 expanded its healthcare offering using intelligent digital assistant technologies in healthcare and clinical services. Besides this, an increasing number of smaller market players are looking to boost their portfolio through strategic partnerships. Such strategies adopted by the players will significantly impact the global intelligent digital assistant's market over the course of the forecast period. Nuance's Nina is the first virtual integrated assistant in the UK insurance sector. Dominos Pizza's 'Dom', ING Bank's 'Inge', and Jet Star Airline's 'Jess' are virtual assistants designed to deliver a convincing, multi-channel, automatic customer service experience for the enterprise and consumer segment.

Asia Pacific is anticipated to grow at rapid rate through the forecast period. Improvement in network infrastructure and increasing adoption of cloud based services by industries which there by expected to fuel the market growth in the region. Samsung is coming up with new updates for Bixby by making it more efficient by providing features like translating, capture better photos, mastering your settings, social media management, talk to Bixby via text and much more. Alexa, Amazon's voice assistant holds the largest market share of voice assistant market with the growing popularity of its applications. Apple's Siri on iOS supports many languages making it more flexible to use and in turn enhance customer experience.

Duer released by china technical giant Baidu will allow users in Chinese users to order food and access other services via the app, while the company is planning to make the voice control system part of its internet of things push. Baidu is working on a system to allow Duer to control devices in the home and allow them to connect to healthcare and other service providers.

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Key Players in the Digital Assistant Market are:

  • Apple Inc. (U.S.)

  • Microsoft Corporation (U.S.)

  • Samsung Corporation (South Korea)

  • Google Inc. (U.S.)

  • Amazon Inc. (U.S.)

  • Facebook Inc. (U.S.)

  • Baidu Inc. (China)

  • Nuance Communications (U.S.)

  • Cisco Systems Inc. (U.S.)

  • IBM Corporation (U.S.)

  • Artificial Solutions (Spain)

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