The volume of the Russian voice AI market will reach $80 million or $120 million in 2021, taking into account government orders, according to the new analyses from Just AI. The industry is adding 46-93% from year to year and the company expects it to maintain its growth dynamics from 38% to 81%, reaching $561 million by 2025.
Among major market players Just AI include themselves, with annual revenue of $6.8 million (500 million rubles), followed by companies with income over $2.7 million (200 million rubles): Yandex.Cloud (speech technologies), 3iTech (solutions for the public sector) and ATS Aero.
In the group of companies with annual revenues of over $1.3 million (100 million rubles), analysts noted Nanosemantics (NLP / NLU / DM platforms), Neuro.net, and Zvonobot (outbound telemarketing). In general, there are more than 100 companies on the market, including small startups.
As an independent segment, experts identified solutions for government customers, which are the largest consumer of conversational AI. In their segment, Speech Technology Center (STC group), owned by Sberbank, is leading with more than 80% of its revenue ($20 million a year) brought to it by government contracts, the study says.
Contrary to the conclusions of Just AI, deals for the commercial segment prevail in the structure of STC's revenue in the field of conversational AI, Dmitry Dyrmovsky, the CEO of STC, argues. He agrees with the current market estimates, but the projected growth rate might be 15% lower. Among the major government customers for such services, he pointed to the Multifunctional Center (MFC), a service state network of public and municipal electronic centers that seeks to optimize its client service.
To learn more about Russian solutions in the field of digital assistant industry, read ICT.Moscow’s overview “Smart assistants in Russia: market overview, trends and prospects”, where we spoke to 17 lead experts in the market.
The Central Bank of the Russian Federation
Ministry of Digital Development, Communications and Mass Media of the Russian Federation