Voice User Interface Market Size To Reach $92.4 Billion By 2030

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.

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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 

Voice User Interface Market Segmentation

Grand View Research has segmented the global voice user interface market based on offering, application, Industry vertical, and region:

Voice User Interface Offering Outlook (Revenue, USD Million, 2017 - 2030)

• Solution

• Service

Voice User Interface Application Outlook (Revenue, USD Million, 2017 - 2030)

• Smart Speakers

• Interactive Voice Response

• On-premises Solutions

• Cloud Solutions

• Voice-controlled Devices

• Smartphones & Tablets

• Others

Voice User Interface Industry Vertical Outlook (Revenue, USD Million, 2017 - 2030)

• BFSI

• Retail & E-commerce

• Consumer Electronic

• Automotive & Transportation

• Healthcare & Life Science

• Travel & Hospitality

• Government & Defense Sector

• Others

Voice User InterfaceRegional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Mexico

• Middle East & Africa

  • UAE

  • Saudi Arabia (KSA)

  • South Africa

List of Key Players in the Voice User Interface Market

• Amazon, Inc.

• Apple, Inc.

• Baidu, Inc.

• Google LLC

• IBM

• Meta Platform, Inc.

• Nuance Communication

• SAMSUNG

• SoundHound AI Inc.