According to a new market report published by Transparency Market Research the global intelligent assistant-embedded consumer device market is expected to reach a value of 1,266.9 Million Units by 2026 on account of high adoption of intelligent assistant-embedded consumer devices across the world. The market is projected to expand at a CAGR of 5.2% during the forecast period from 2018 to 2026. North America is anticipated to have the largest market share due to presence of many software companies in this region. After North America, Europe and Asia Pacific are expected to contribute considerable market share due to large scale growth of IT companies in these regions.
Adoption of wireless technology-enabled solutions (products) has increased rapidly in the last few years due to the advanced features offered especially in terms of portability. Virtual digital assistance technology is expanding to integrate technology beyond smartphones to other consumer devices. Further, virtual digital assistants represent the combination of natural language processing (NLP), artificial intelligence (AI), and speech recognition and are likely to have a transformative impact on consumer devices. This market is currently at its initial stage, and small changes in these early stages can have vast influences. Changes in consumer comfort pertaining to the distribution, collection, management, and analysis of private data; progress of natural language processing (NLP) and other voice technologies; and progress in the regulatory environment can all significantly modify the market.
Major factors responsible for the growth of the intelligent assistance embedded consumer devices market are rise in adoption of personal assistants in smart homes, growing demand for enhanced productivity and extended life of systems, and Internet of Things (IoT).
Additionally, demand for accurate, fast, and efficient systems with artificial thinking abilities to reduce human involvement is the other vital factor propelling the growth of the market. Smart Home is one of the focus areas in which wireless connectivity technologies are being integrated. These wireless connectivity technologies present some very exciting opportunities as it consumes less energy as compared to Wi-Fi.
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The intelligent assistant-embedded consumer device market has been segmented based on device type and region. According to the research, mobile devices are expected to see the highest implementation of voice based technology during the forecast period. Growth in usage of mobile devices is highest as compared to other products. Mobile devices continue to hold the major share in the market currently and the trend is expected to continue during the forecast period due to rapid growth in the number of mobile phone users. Furthermore, digital revolutions taking place in countries such as India, South Africa, and China also drives the adoption of mobile phones, thus driving the intelligent assistant-embedded consumer device market.
In terms of volume, North America holds a strong position in the global intelligent assistant-embedded consumer device market. This is due to strong adoption of intelligent assistant-embedded consumer devices with numerous IT companies and electronics devices manufacturers in the region. Intelligent assistant-embedded consumer devices are majorly used in electronic devices. Additionally, increased adoption of advanced technologies and increase in the number of mobile phone users are driving the market in this region. The market in Asia Pacific is estimated to experience the highest growth rate in terms of CAGR during the forecast period compared to North America and Europe. Although North America holds the largest share of market, its growth rate is less compared to APAC. The markets in MEA and South America are projected to grow at a slower pace during the forecast period.