NEW YORK, Sept. 22, 2022 /PRNewswire/ — According to the research report, the voice commerce market will witness a YOY growth of 18.98% in 2022 at a CAGR of 24.34% during the forecast period. The report is segmented by application (personal care, electronics, household appliances, groceries, and arts crafts) and geography (North America, Europe, APAC, South America, and the Middle East and Africa).
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The global voice commerce market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Adobe Inc.: The company offers voice commerce namely Voice Assistant Analytics which delivers more personalized customer experiences through voice-based interfaces by capturing and analyzing voice data.
- Agora Inc.: The company offers voice commerce such as Agora SD RTN which provides adaptive resolution, while immediate initial video rendering and seamless channel switching provide a reliable stream without delay, against even the most challenging network conditions.
- Algolia Inc.: The company offers voice commerce such as Algolia which gives users relevant voice search results with contextual understanding capabilities, NLP, natural language understanding, and AI tools.
- Alphabet Inc.: The company offers voice commerce namely Google Assistant which allows shoppers to order groceries for pickup and home delivery.
- Amazon.com Inc.: The company offers voice commerce namely Alexa which is a cloud-based voice service that allows users to add products to a wish list, re-order items, check order status, and more.
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North America will account for 40% of market growth. The voice commerce market in North America is mostly centered in the US and Canada. The market in this region will expand more slowly than markets in other regions. Over the course of the forecast period, a surge in online purchasing as well as customers’ quicker adoption and usage of voice assistants will support the growth of the voice commerce market in North America. Buy Sample Report.
The personal care segment’s market share will expand significantly. Personal care items are a class of consumer goods that are commonly utilized in daily life for personal cleanliness, grooming, or attractiveness. These products include shampoo, body lotions, other items, fragrances, and other things like shaving gels.
Additionally, this market sector is anticipated to expand throughout the course of the forecast period as a result of factors like rising beauty consciousness among people, the impact of social media, and rising disposable income levels. In turn, this will accelerate the expansion of the voice commerce industry during the anticipated timeframe.
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Voice Commerce Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 24.34% |
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Market growth 2022-2026 |
$ 55.68 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
18.98 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 40% |
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Key consumer countries |
US, Canada, China, India, UK, and Germany |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
Adobe Inc., Agora Inc., Algolia Inc., Alphabet Inc., Amazon.com Inc., Edrone sp. z o.o., iAdvize SAS, Jetson AI Inc., Microsoft Corp., Salesforce.com Inc., Samsung Electronics Co. Ltd., Voicify LLC, and Yosh.AI Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ billion)
- Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ billion)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition – Five forces 2021 and 2026
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 24: Chart on Application – Market share 2021-2026 (%)
- Exhibit 25: Data Table on Application – Market share 2021-2026 (%)
- 5.2 Comparison by Application
- Exhibit 26: Chart on Comparison by Application
- Exhibit 27: Data Table on Comparison by Application
- 5.3 Personal care – Market size and forecast 2021-2026
- Exhibit 28: Chart on Personal care – Market size and forecast 2021-2026 ($ billion)
- Exhibit 29: Data Table on Personal care – Market size and forecast 2021-2026 ($ billion)
- Exhibit 30: Chart on Personal care – Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Personal care – Year-over-year growth 2021-2026 (%)
- 5.4 Electronics – Market size and forecast 2021-2026
- Exhibit 32: Chart on Electronics – Market size and forecast 2021-2026 ($ billion)
- Exhibit 33: Data Table on Electronics – Market size and forecast 2021-2026 ($ billion)
- Exhibit 34: Chart on Electronics – Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Electronics – Year-over-year growth 2021-2026 (%)
- 5.5 Household appliances – Market size and forecast 2021-2026
- Exhibit 36: Chart on Household appliances – Market size and forecast 2021-2026 ($ billion)
- Exhibit 37: Data Table on Household appliances – Market size and forecast 2021-2026 ($ billion)
- Exhibit 38: Chart on Household appliances – Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Household appliances – Year-over-year growth 2021-2026 (%)
- 5.6 Groceries – Market size and forecast 2021-2026
- Exhibit 40: Chart on Groceries – Market size and forecast 2021-2026 ($ billion)
- Exhibit 41: Data Table on Groceries – Market size and forecast 2021-2026 ($ billion)
- Exhibit 42: Chart on Groceries – Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Groceries – Year-over-year growth 2021-2026 (%)
- 5.7 Arts crafts – Market size and forecast 2021-2026
- Exhibit 44: Chart on Arts crafts – Market size and forecast 2021-2026 ($ billion)
- Exhibit 45: Data Table on Arts crafts – Market size and forecast 2021-2026 ($ billion)
- Exhibit 46: Chart on Arts crafts – Year-over-year growth 2021-2026 (%)
- Exhibit 47: Data Table on Arts crafts – Year-over-year growth 2021-2026 (%)
- 5.8 Market opportunity by Application
- Exhibit 48: Market opportunity by Application ($ billion)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 50: Chart on Market share by geography 2021-2026 (%)
- Exhibit 51: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 52: Chart on Geographic comparison
- Exhibit 53: Data Table on Geographic comparison
- 7.3 North America – Market size and forecast 2021-2026
- Exhibit 54: Chart on North America – Market size and forecast 2021-2026 ($ billion)
- Exhibit 55: Data Table on North America – Market size and forecast 2021-2026 ($ billion)
- Exhibit 56: Chart on North America – Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on North America – Year-over-year growth 2021-2026 (%)
- 7.4 Europe – Market size and forecast 2021-2026
- Exhibit 58: Chart on Europe – Market size and forecast 2021-2026 ($ billion)
- Exhibit 59: Data Table on Europe – Market size and forecast 2021-2026 ($ billion)
- Exhibit 60: Chart on Europe – Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Europe – Year-over-year growth 2021-2026 (%)
- 7.5 APAC – Market size and forecast 2021-2026
- Exhibit 62: Chart on APAC – Market size and forecast 2021-2026 ($ billion)
- Exhibit 63: Data Table on APAC – Market size and forecast 2021-2026 ($ billion)
- Exhibit 64: Chart on APAC – Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on APAC – Year-over-year growth 2021-2026 (%)
- 7.6 South America – Market size and forecast 2021-2026
- Exhibit 66: Chart on South America – Market size and forecast 2021-2026 ($ billion)
- Exhibit 67: Data Table on South America – Market size and forecast 2021-2026 ($ billion)
- Exhibit 68: Chart on South America – Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on South America – Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa – Market size and forecast 2021-2026
- Exhibit 70: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ billion)
- Exhibit 71: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ billion)
- Exhibit 72: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
- 7.8 US – Market size and forecast 2021-2026
- Exhibit 74: Chart on US – Market size and forecast 2021-2026 ($ billion)
- Exhibit 75: Data Table on US – Market size and forecast 2021-2026 ($ billion)
- Exhibit 76: Chart on US – Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on US – Year-over-year growth 2021-2026 (%)
- 7.9 UK – Market size and forecast 2021-2026
- Exhibit 78: Chart on UK – Market size and forecast 2021-2026 ($ billion)
- Exhibit 79: Data Table on UK – Market size and forecast 2021-2026 ($ billion)
- Exhibit 80: Chart on UK – Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on UK – Year-over-year growth 2021-2026 (%)
- 7.10 China – Market size and forecast 2021-2026
- Exhibit 82: Chart on China – Market size and forecast 2021-2026 ($ billion)
- Exhibit 83: Data Table on China – Market size and forecast 2021-2026 ($ billion)
- Exhibit 84: Chart on China – Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on China – Year-over-year growth 2021-2026 (%)
- 7.11 Germany – Market size and forecast 2021-2026
- Exhibit 86: Chart on Germany – Market size and forecast 2021-2026 ($ billion)
- Exhibit 87: Data Table on Germany – Market size and forecast 2021-2026 ($ billion)
- Exhibit 88: Chart on Germany – Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on Germany – Year-over-year growth 2021-2026 (%)
- 7.12 Canada – Market size and forecast 2021-2026
- Exhibit 90: Chart on Canada – Market size and forecast 2021-2026 ($ billion)
- Exhibit 91: Data Table on Canada – Market size and forecast 2021-2026 ($ billion)
- Exhibit 92: Chart on Canada – Year-over-year growth 2021-2026 (%)
- Exhibit 93: Data Table on Canada – Year-over-year growth 2021-2026 (%)
- 7.13 India – Market size and forecast 2021-2026
- Exhibit 94: Chart on India – Market size and forecast 2021-2026 ($ billion)
- Exhibit 95: Data Table on India – Market size and forecast 2021-2026 ($ billion)
- Exhibit 96: Chart on India – Year-over-year growth 2021-2026 (%)
- Exhibit 97: Data Table on India – Year-over-year growth 2021-2026 (%)
- 7.14 Market opportunity by geography
- Exhibit 98: Market opportunity by geography ($ billion)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 99: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 100: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 101: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 102: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 103: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 104: Matrix on vendor position and classification
- 10.3 Adobe Inc.
- Exhibit 105: Adobe Inc. – Overview
- Exhibit 106: Adobe Inc. – Business segments
- Exhibit 107: Adobe Inc. – Key news
- Exhibit 108: Adobe Inc. – Key offerings
- Exhibit 109: Adobe Inc. – Segment focus
- 10.4 Agora Inc.
- Exhibit 110: Agora Inc. – Overview
- Exhibit 111: Agora Inc. – Product / Service
- Exhibit 112: Agora Inc. – Key offerings
- 10.5 Algolia Inc.
- Exhibit 113: Algolia Inc. – Overview
- Exhibit 114: Algolia Inc. – Product / Service
- Exhibit 115: Algolia Inc. – Key offerings
- 10.6 Alphabet Inc.
- Exhibit 116: Alphabet Inc. – Overview
- Exhibit 117: Alphabet Inc. – Business segments
- Exhibit 118: Alphabet Inc. – Key news
- Exhibit 119: Alphabet Inc. – Key offerings
- Exhibit 120: Alphabet Inc. – Segment focus
- 10.7 Amazon.com Inc.
- Exhibit 121: Amazon.com Inc. – Overview
- Exhibit 122: Amazon.com Inc. – Business segments
- Exhibit 123: Amazon.com Inc. – Key news
- Exhibit 124: Amazon.com Inc. – Key offerings
- Exhibit 125: Amazon.com Inc. – Segment focus
- 10.8 iAdvize SAS
- Exhibit 126: iAdvize SAS – Overview
- Exhibit 127: iAdvize SAS – Product / Service
- Exhibit 128: iAdvize SAS – Key offerings
- 10.9 Jetson AI Inc.
- Exhibit 129: Jetson AI Inc. – Overview
- Exhibit 130: Jetson AI Inc. – Product / Service
- Exhibit 131: Jetson AI Inc. – Key offerings
- 10.10 Salesforce.com Inc.
- Exhibit 132: Salesforce.com Inc. – Overview
- Exhibit 133: Salesforce.com Inc. – Product / Service
- Exhibit 134: Salesforce.com Inc. – Key news
- Exhibit 135: Salesforce.com Inc. – Key offerings
- 10.11 Samsung Electronics Co. Ltd.
- Exhibit 136: Samsung Electronics Co. Ltd. – Overview
- Exhibit 137: Samsung Electronics Co. Ltd. – Business segments
- Exhibit 138: Samsung Electronics Co. Ltd. – Key news
- Exhibit 139: Samsung Electronics Co. Ltd. – Key offerings
- Exhibit 140: Samsung Electronics Co. Ltd. – Segment focus
- 10.12 Yosh.AI Ltd.
- Exhibit 141: Yosh.AI Ltd. – Overview
- Exhibit 142: Yosh.AI Ltd. – Product / Service
- Exhibit 143: Yosh.AI Ltd. – Key offerings
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 144: Inclusions checklist
- Exhibit 145: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 146: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 147: Research methodology
- Exhibit 148: Validation techniques employed for market sizing
- Exhibit 149: Information sources
- 11.5 List of abbreviations
- Exhibit 150: List of abbreviations
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