Key Takeaways
- Global voice commerce market size was valued at $4.5 billion in 2020.
- Voice commerce sales are projected to reach $40 billion by 2022 in the US alone.
- The voice commerce market is expected to grow at a CAGR of 28.6% from 2021 to 2028.
- 50 million Americans used voice to shop in 2022.
- 31% of US consumers have made a purchase via voice in 2023.
- 41% of smart speaker owners have used voice commerce.
- 78% of US households own a smart speaker in 2023.
- Amazon Echo holds 70% market share in smart speakers.
- 120 million smart speakers sold worldwide in 2022.
- 62% of voice purchases are for groceries.
- Average voice commerce order value $25.
- 71% use voice for reorders.
- Voice commerce to represent 10% of e-commerce by 2026.
- 50% of all commerce could be voice by 2030.
- Voice AI market to hit $50 billion by 2028.
Voice commerce is experiencing explosive growth worldwide, expected to reach hundreds of billions in sales within a decade.
Device Penetration
- 78% of US households own a smart speaker in 2023.
- Amazon Echo holds 70% market share in smart speakers.
- 120 million smart speakers sold worldwide in 2022.
- Google Home/Nest devices 25% of US market.
- Apple HomePod penetration 8% in premium segment.
- Smart speaker ownership in UK at 45% households.
- India smart speakers reached 10 million units 2023.
- 55% of US smart speaker owners use daily.
- Sonos smart speakers growing 15% YoY.
- Samsung Bixby devices 12% in smart appliances.
- Global smart display shipments 50 million in 2023.
- Alexa-enabled devices over 500 million worldwide.
- Google Assistant on 3 billion devices.
- Smart speaker penetration in China 30% urban homes.
- Europe smart speaker market 25 million units 2023.
- Walmart Google smart carts penetration 20% stores.
- Automotive voice assistants in 40% new cars.
- Wearables with voice commerce 15 million units.
- Smart TVs with voice shopping 35% market.
- Refrigerator voice commerce enabled in 10% US homes.
- Ring doorbells with Alexa 50 million sold.
- Bose smart speakers 5% US market share.
- JBL Link devices growing in APAC.
- Smart glasses voice penetration 2 million.
- Xbox voice commerce integration 30% users.
Device Penetration Interpretation
Future Projections
- Voice commerce to represent 10% of e-commerce by 2026.
- 50% of all commerce could be voice by 2030.
- Voice AI market to hit $50 billion by 2028.
- 8.4 billion voice commerce transactions by 2025.
- Voice commerce CAGR 32% to 2030.
- Smart speaker households 75% US by 2027.
- B2B voice procurement $100 billion by 2028.
- Voice in AR/VR commerce 20% by 2026.
- Global voice users 4.66 billion by 2024.
- India voice commerce $50 billion by 2030.
- Voice payments to process $45 billion 2025.
- 90% customer service voice by 2027.
- Voice commerce in healthcare $20 billion 2030.
- EU voice commerce 25% e-com by 2028.
- China voice market $200 billion 2030.
- Voice loyalty programs 60% adoption 2026.
- Metaverse voice commerce $15 billion 2028.
- Africa voice leapfrog 30% commerce 2030.
- Voice in supply chain 40% by 2027.
- US voice retail 30% by 2030.
- Global voice devices 10 billion by 2028.
- Voice advertising $10 billion revenue 2026.
- 70% cars with voice commerce 2030.
- Voice in education commerce $5 billion 2028.
- Brazil voice 15% e-com 2028.
Future Projections Interpretation
Market Growth
- Global voice commerce market size was valued at $4.5 billion in 2020.
- Voice commerce sales are projected to reach $40 billion by 2022 in the US alone.
- The voice commerce market is expected to grow at a CAGR of 28.6% from 2021 to 2028.
- Voice-activated shopping transactions hit 1.8 billion in 2019 globally.
- Voice commerce revenue in retail is forecasted to hit $19.4 billion by 2023.
- Global voice shopping market to grow from $17.8 billion in 2022 to $234.6 billion by 2032.
- Voice commerce in e-commerce projected to account for 20% of transactions by 2025.
- Voice commerce market in Asia-Pacific growing at 35% CAGR through 2027.
- European voice commerce sales to reach €5 billion by 2023.
- Voice commerce generated $2.1 billion in US retail sales in 2021.
- Projected voice commerce GMV to hit $160 billion globally by 2026.
- Voice commerce in grocery sector to reach $30 billion by 2025.
- India voice commerce market to grow to $11.2 billion by 2025.
- Voice commerce CAGR of 37.2% expected from 2023-2030.
- Brazil voice commerce market valued at $1.2 billion in 2022.
- Voice commerce in fashion retail to hit $15 billion by 2027.
- UK voice commerce sales reached £800 million in 2022.
- Voice commerce market share in smart speakers to be 45% by 2025.
- Australia voice commerce projected at AUD 2.5 billion by 2024.
- Voice commerce in pharmaceuticals to grow to $5 billion by 2028.
- China voice commerce market size $25 billion in 2023.
- Voice commerce B2B segment to reach $10 billion by 2026.
- Middle East voice commerce growth at 40% CAGR to 2027.
- Voice commerce in travel bookings $8 billion by 2025.
- Canada voice commerce market $3.4 billion forecast for 2025.
- Voice commerce electronics sales $12 billion globally 2023.
- Africa voice commerce emerging at $500 million in 2023.
- Voice commerce home goods sector $7 billion by 2026.
- Voice commerce total addressable market $500 billion by 2030.
Market Growth Interpretation
Purchase Behaviors
- 62% of voice purchases are for groceries.
- Average voice commerce order value $25.
- 71% use voice for reorders.
- Impulse buys via voice 45% of transactions.
- Fast-moving consumer goods 55% voice sales.
- 68% prefer voice for music purchases.
- Repeat purchase rate via voice 80%.
- 52% use voice for gift shopping.
- Average session leads to 2.3 items bought.
- 60% abandon voice cart due to poor UX.
- Books 25% of voice commerce categories.
- 75% voice shoppers use Amazon.
- Weekly voice grocery orders up 30% YoY.
- 40% prefer voice over app for quick buys.
- Electronics 18% of voice sales volume.
- 55% voice for household essentials.
- Conversion rate voice 15% higher than web.
- 30% use voice for price checks before buy.
- Toys and games 12% seasonal voice sales.
- 65% voice commerce on weekends.
- Beauty products 8% voice category share.
- 48% multi-item voice baskets.
- Voice returns rate 5% lower than online.
- Pet food 10% voice reoccurring buys.
- Voice commerce peaks at 8 PM daily.
Purchase Behaviors Interpretation
User Adoption
- 50 million Americans used voice to shop in 2022.
- 31% of US consumers have made a purchase via voice in 2023.
- 41% of smart speaker owners have used voice commerce.
- Global voice commerce users to reach 8 billion by 2025.
- 27% of Alexa users bought something with voice last month.
- 35% of millennials prefer voice for shopping.
- 22% of Google Home users engage in voice commerce weekly.
- Women represent 55% of voice commerce shoppers in US.
- 18-34 year olds account for 60% of voice purchases.
- 15% of all US online shoppers used voice in 2022.
- India has 120 million voice commerce users in 2023.
- 28% of UK smart speaker users buy via voice.
- Gen Z voice commerce adoption at 45% in 2023.
- 32% of parents use voice commerce for kids' items.
- Hispanic consumers in US 40% more likely to use voice shopping.
- 25% of Chinese consumers use voice for daily shopping.
- Rural US adoption of voice commerce at 20%.
- 37% of high-income households use voice commerce.
- Brazil voice shoppers reached 30 million in 2023.
- 29% of Europeans tried voice commerce in 2022.
- Students represent 25% of voice commerce users.
- 34% of disabled users prefer voice shopping.
- Australia voice commerce users 8 million in 2023.
- 21% of seniors over 65 use voice for purchases.
- Africa urban voice shoppers 12 million.
- Canada voice commerce penetration 28% households.
- Gamers 42% likely to use voice commerce.
- 26% of pet owners use voice for pet supplies.
- Japan voice commerce users 15 million in 2023.
- 51% of smart speaker owners in US aware of voice commerce.
User Adoption Interpretation
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