The voice assistant market is predicted to reach a value of $26,872.6 million by 2030, from $1,723.6 million in 2019, progressing at a 29.7% CAGR during the forecast period (2020–2030). In terms of component, the market is divided into solution and service, between which, the solution division accounted for the larger share of the market in 2019. Voice assistant solutions are being adopted by various industries, such as healthcare, banking, financial services, and insurance, retail, and automotive, for improving customer experience.

North America dominated the voice assistant market in 2019, according to a report by P&S Intelligence. Technological advancements, swift adoption of advanced technologies, such as MLP, machine learning, and deep learning, and increased IT spending are leading to the high demand for the voice assistant technology in the region. The Asia-Pacific region is expected to register the highest CAGR during the forecast period.

The adoption of this technology in classrooms will enhance the learning experience for the students. Additionally, these technologies are rapidly becoming popular amongst the teachers, on account of their various beneficial features such as the ability to respond to multiple questions by teachers and students and provide rapid fact-based answers, either through proper references or directly.

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Therefore, it can be said with conviction that the market will surge throughout the world during the future years, primarily because of the growing requirement of interactive technologies in business operations, increasing demand for higher customer engagement and satisfaction, ballooning adoption of advanced technologies by businesses, and rapid technological advancements all over the world.

This market research report provides a comprehensive overview of the voice assistant market

Historical and the present size of the voice assistant market
Future potential of the market through its forecast for the period 2020– 2030
Major factors driving the market and their impact during the short, medium, and long terms
Market restraints and their impact during the short, medium, and long terms
Recent trends and evolving opportunities for the market participants
Historical and the present size of the market segments and understand their comparative future potential