22.44 Percent Growth Seen for Voice User Interfaces
Research firm Technavio expects the global voice user interface (VUI) market to grow by $29.02 billion between 2021 and 2026, at a compounded annual growth rate of 22.44 percent.
Digital transformation is driving VUI market growth, however, cybersecurity challenges are expected to remain a key factor that will slow some growth, the firm concluded.
Technavio pointed to especially robust digital transformation efforts in industries such as internet services, telecommunications, financial services, insurance, healthcare, and media and entertainment as key growth drivers, but noted that advanced internet technologies, such as high-speed broadband and VoIP services, are also fueling adoption of these technologies.
The firm identified Advanced Voice Recognition Systems, Alan.AI, Amazon, Apple, Baidu, CastleOS Software, IBM, Google, Microsoft, PicoVoice, Sansung, Sonos, SoundHound, Speechify, Whatfix, and Zaion as leading providers of the technology.