Market Research Report
Voice Enablement for Business-Critical Workflows: The Role of Our Most Intuitive Medium as a Technological Tool
|Published by||VDC Research Group, Inc.||Product code||756462|
|Published||Content info||34 Pages; 26 Exhibits
Delivery time: 1-2 business days
|Voice Enablement for Business-Critical Workflows: The Role of Our Most Intuitive Medium as a Technological Tool|
|Published: December 14, 2018||Content info: 34 Pages; 26 Exhibits||
What are the prominent end user priorities, problems and sentiments regarding their traditional voice-enabled workflow solutions? How are evolving technologies affecting feature requirements of a competitive voice solution? In what ways are traditional voice solutions reaching beyond their dominant warehousing and logistics use cases? How are top vendors of next gen voice solutions, primarily digital assistants, developing their product for enterprise adoption?
Amazon, Cisco, Ehrhardt + Partner, Hub One, Ivanti, Lucas Systems, MCL, Oracle, SAP, Symphony RetailAI, Theatro, Vocera, Vocollect (Honeywell), Voxware
Voice is one of the most natural forms of expression and engagement. Nonetheless, the deployment of voice solutions in the enterprise has been historically dedicated to a limited selection of use cases-like voice picking-in warehousing and logistics operations. That remains generally true because these are the most inherently valuable applications with the quickest ROI. However, we see deviations of these traditional voice solutions and entirely new ones beginning to get traction as an array of factors make the effective and intuitive medium of speech a more accessible and demanded technological tool.
The market overall for voice-enabled distribution network workflow solutions is slated to grow at a steady rate in coming years with long-standing powerhouse Vocollect remaining the dominant player. Honeywell's Vocollect has held and will continue to hold major shares in this space, but innovations by competitors within traditional warehouse and distribution center use cases, and extending beyond them, creates space for the market to shift and grow outside of its comfort zone. The opportunities in these emergent spaces include offering more robustly integrated solutions with capabilities such as data analytics and newer target markets such as health care and retail. Even semi-adjacent technologies such as digital assistants and conversational AI factor into potential areas of growth.
The market for traditional voice-enabled workflow solutions will grow from $110.4M in 2017 to $173.3M in 2022, a 9.5% 5-year CAGR.
Growth will be slightly stronger in terms of unit volume; our estimates show 65,059 per-user deployments shipped in 2017, and that is set to grow at a 5-year CAGR of 11.3% to 110,869 in 2022.
Warehousing and logistics is and will continue to be the largest market for voice; this sector was responsible for around 82% of the market in 2017, and will still account for 79% of the market by 2022 (10.0% CAGR). However, retail and health care are fast-growing target verticals, with 5-year CAGRs of 15.1% and 14.4%, respectively.
End user sentiments regarding voice solutions are mixed. They find the deployments largely effective and their related investment priorities are critical, but they are not free of challenges and satisfaction ratings per solution provider and per feature are moderate.
Over 90% of organizations using traditional voice-driven mobility solutions will leverage data analytics by 2020; accordingly, data analytics capabilities will be a competitive requirement for vendors to offer by then. It is still early to say what the role of adjacent technologies, such as AR/VR, digital assistants, and conversational AI, will be in enterprise-facing voice solutions, but early applications are being piloted and developed at varying degrees of maturity.
Pat Nolan supports a range of syndicated research programs and custom consulting projects within VDC's Enterprise Mobility practice. His previous market research and consulting coverage includes enterprise communications and the MarTech space. Before that, he supported the marketing and communications efforts of a mobile healthcare solutions developer. Pat graduated from Syracuse University with a B.S. in Advertising and a minor in Information Management & Technology.
David Krebs has more than 10 years of experience covering the markets for enterprise and government mobility solutions, wireless data communication technologies, and automatic data-capture research and consulting. David focuses on identifying the key drivers and enablers in the adoption of mobile and wireless solutions among mobile workers in the extended enterprise. David's consulting and strategic advisory experience is far reaching and includes technology and market opportunity assessments, technology penetration and adoption enablers, partner profiling and development, new product development, and M&A due diligence support. David has extensive primary market research management and execution experience to support market sizing and forecasting, total cost of ownership (TCO), comparative product performance evaluation, competitive benchmarking, and end-user requirements analysis. David is a graduate of Boston University (BSBA).