The voice commerce global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Voice Commerce Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The voice commerce market size has grown exponentially in recent years. It will grow from $90.54 billion in 2023 to $116.83 billion in 2024 at a compound annual growth rate (CAGR) of 29.0%. The growth in the historic period can be attributed to increased popularity of online shopping, change in consumer search and shopping habits, increased penetration of online businesses, proliferation of social media and smartphones, increased demand for contactless shopping.
The voice commerce market size is expected to see exponential growth in the next few years. It will grow to $326.69 billion in 2028 at a compound annual growth rate (CAGR) of 29.3%. The growth in the forecast period can be attributed to increasing adoption of voice assistants and voice-enabled devices, growing focus on enhancing customer engagement, growth of the authentication market, increasing in voice-based searches, increasing applications in retail, banking, connected devices, smart homes, healthcare, and automobile sectors. Major trends in the forecast period include integration of e-commerce platforms with voice technologies, use of innovative technologies like artificial intelligence, developments in natural language processing technology, demand for connected devices, automation of shopping operations through voice assistants.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Voice Commerce Market Overview
Market Drivers –
The voice commerce market size has grown exponentially in recent years. It will grow from $90.54 billion in 2023 to $116.83 billion in 2024 at a compound annual growth rate (CAGR) of 29.0%. The growth in the historic period can be attributed to increased popularity of online shopping, change in consumer search and shopping habits, increased penetration of online businesses, proliferation of social media and smartphones, increased demand for contactless shopping.
The voice commerce market size is expected to see exponential growth in the next few years. It will grow to $326.69 billion in 2028 at a compound annual growth rate (CAGR) of 29.3%. The growth in the forecast period can be attributed to increasing adoption of voice assistants and voice-enabled devices, growing focus on enhancing customer engagement, growth of the authentication market, increasing in voice-based searches, increasing applications in retail, banking, connected devices, smart homes, healthcare, and automobile sectors. Major trends in the forecast period include integration of e-commerce platforms with voice technologies, use of innovative technologies like artificial intelligence, developments in natural language processing technology, demand for connected devices, automation of shopping operations through voice assistants.
Market Trends –
The voice commerce market covered in this report is segmented –
1) By Type: Smart Speaker, Voice Assistant, Virtual Digital Assistant
2) By Application: Personal Care, Electronics, Household Appliances, Groceries, Arts Crafts, Other Applications
3) By End-User : Travel Industry, Hospitality Industry, Entertainment Industry, Other End-Users
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Regional Insights –
North America was the largest region in the voice commerce market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the voice commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Table of Contents
1. Executive Summary
2. Voice Commerce Market Report Structure
3. Voice Commerce Market Trends And Strategies
4. Voice Commerce Market – Macro Economic Scenario
5. Voice Commerce Market Size And Growth
…..
27. Voice Commerce Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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