Personal Assistance Apps Market is Expected to Witness Healthy Growth at 18.3% CAGR through 2031

According to a newly released personal assistance app industry analysis, global demand grew 17.8% year over year (YoY) in 2021, reaching a value of over US$ 3.1 billion. In 2020, mobile apps will have grown by 4.1 percent to a value of US$ 1.37 billion, while smart device apps will have grown by 18.3 percent to a value of US$ 1 billion. Smart home control has become one of the most important areas of personal assistance apps. It’s no longer just about using fancy speech to speech control to order music or check the weather; it’s also about controlling and connecting to other devices at home.

Market Segments Covered in Personal Assistance Apps Industry Research

By Product Type

• • Chatbots
  • Smart Device Apps
  • Mobile Apps

By Revenue

• • Free/Freemium Personal Assistance Apps
  • Subscription (Monthly, Yearly) Personal Assistance Apps
  • One-time License Personal Assistance Apps

By Technology

• • Speech to Text Personal Assistance Apps
  • Text to Speech Personal Assistance Apps
  • Speech to Speech Personal Assistance Apps
  • Text to Text Personal Assistance Apps

By Application Sector

• • Residential / Individual Personal Assistance Apps
• Commercial Personal Assistance Apps
  • • BFSI (Banking, financial services, and insurance)
    • Electronics & Semiconductors
    • Automotive
    • Healthcare
    • Education
    • Retail
    • IT & Telecom
    • Travel & Hospitality
    • Transport & Logistics
  • Others

Takeaways from the Market Research

During the period 2021–2031, mobile apps as personal assistance apps are expected to remain the most appealing, with an absolute dollar opportunity of US$ 6.5 billion.

With a market share of 70%, one-time licenses of personal assistance apps are expected to be the most lucrative in terms of revenue.

During the forecast period, demand for speech to speech is expected to grow 5.1X due to technological advancements.

In 2020, North America and Europe accounted for over 63 percent of the total market share.

In 2031, East Asia is expected to have a market share of 16.5 percent and a market value of US$ 2.7 billion.

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