PUBLISHER: Grand View Research | PRODUCT CODE: 1575105
PUBLISHER: Grand View Research | PRODUCT CODE: 1575105
The global voice commerce market size was valued at USD 42.75 billion in 2023 and is expected to grow at a CAGR of 24.6% from 2024 to 2030. The market is expanding rapidly, driven by the growing adoption of smart speakers, smartphones, and IoT devices that enable voice-based interactions. Consumers are increasingly using voice assistants like Amazon Alexa and Google Assistant for shopping due to the convenience of hands-free, quick transactions. These devices allow consumers to perform tasks, including shopping, using simple voice commands, making the process more convenient and accessible from anywhere.
The proliferation of IoT-connected devices further enhances this capability, enabling seamless voice-activated shopping experiences in a variety of environments. This trend is gaining traction in sectors such as retail, consumer goods, and food and beverage services, where routine tasks like reordering items, checking prices, and placing orders can be seamlessly managed through voice commands. As AI and natural language processing technologies improve, the market is poised for significant growth.
The integration of voice commerce capabilities by e-commerce giants like Amazon, Walmart, and Alibaba has significantly expanded the market. By enabling users to shop via voice commands on these platforms, consumers can easily reorder products, check delivery statuses, and make purchases hands-free. This integration simplifies the shopping experience and makes it more convenient for a broader audience. As major retailers continue to embrace voice commerce, they drive wider adoption, transforming how people interact with online shopping and creating new opportunities for growth in the e-commerce sector.
Advancements in artificial intelligence (AI) and natural language processing (NLP) have significantly improved the accuracy of voice recognition systems. These technologies enable more natural and intuitive conversations between consumers and devices, making voice interactions smoother and more reliable. This enhanced reliability has increased consumer trust in voice commerce, streamlining the purchasing process by reducing errors and improving response times. As a result, voice commerce is becoming an integral part of the e-commerce ecosystem, with continued growth expected as technology evolves.
Global Voice Commerce Market Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global voice commerce market report based on device type, industry vertical, and region: