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Voice Assistant Application Market, 2024 - NLP and ASR Ecosystems to Drive the Voice Assistant Application MarketDUBLIN, Aug. 6, 2019 /PRNewswire/ -- The "Voice Assistant Application Market by Component (Solutions and Services), Deployment Mode (Cloud and On-premises), Application (Web Application, Mobile Application, and Devices), Organization Size, Vertical, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering. The Global Voice Assistant Application Market Size is Expected to Grow From USD 1.3 Billion in 2019 to USD 5.2 Billion by 2024, at a CAGR of 31.9% Enhanced customer experience and advancement in NLP and ASR ecosystems to drive the voice assistant application market With automation, organizations can achieve higher productivity gain with less manpower requirement. With the advancement in Natural Language Processing (NLP), Automatic Speech Recognition (ASR), and Artificial Intelligence (AI), the business use cases for voice-based chatbots have increased over the last few years. Currently, customer service, lead generation, customer queries, meeting scheduling, room service, reminders, product queries, and support services are the major use cases enterprises are exploring for strengthening business operations. Moreover, cloud-as-a-service is enabling organizations to manage not only costs but also achieve better agility. As cloud-based solutions are budget-friendly as well as easy to deploy, it is highly preferred across Small and Medium-sized Enterprises (SMEs). The users are guided to attain a robust business activity with the help of a human-like interaction platform. In the case of banking, finance, retail, healthcare, and telecom verticals, end-users seek interactive support/help while buying a product or inquiring about the queries. Countries, such as China, Japan, and Australia, have a high penetration in the voice assistant application market and provide solutions that resolve the complex queries faced by customers. APAC countries have enormous potential to grow further, due to the fast adoption of technologies. To enhance their growth and increase the customer base, organizations have started implementing voice assistant solutions. Market Dynamics Drivers
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For more information about this report visit https://www.researchandmarkets.com/r/qjcfio Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. Media Contact: Research and Markets View original content:http://www.prnewswire.com/news-releases/voice-assistant-application-market-2024---nlp-and-asr-ecosystems-to-drive-the-voice-assistant-application-market-300897093.html SOURCE Research and Markets |