Gujarat Magazine

Voice Commerce Market Trends: Size, Share, & Forecast (2024-2031)

 Breaking News
  • No posts were found

Voice Commerce Market Trends: Size, Share, & Forecast (2024-2031)

March 07
15:55 2024
Voice Commerce Market Trends: Size, Share, & Forecast (2024-2031)
Voice Commerce Market -DataM Intelligence
The voice commerce market is booming, expected to grow at a CAGR of 27.28% by 2031. Discover trends in voice commerce segmentation, geography, and key players.

Voice Commerce Market Overview

The voice commerce market is experiencing tremendous growth, projected to reach a significant size by 2031 at a staggering CAGR of 27.28%. This surge is attributed to the seamless integration of voice commerce into daily routines, offering unparalleled convenience and accessibility across various applications.


Voice Commerce Market Segmentation: Voice Assistants Lead the Way

Voice assistants are dominating the voice commerce market segment. Their widespread accessibility, seamless integration across devices, and multi-functionality are fueling segment growth. Voice assistants come pre-installed on smartphones and readily available through smart speakers, making them a user-friendly option. Additionally, voice assistants offer a wider range of functionalities compared to dedicated smart speakers, including playing music, setting alarms, controlling smart home devices, and accessing information.


Voice Commerce Market Geographical Penetration: North America Takes the Lead

North America currently holds the dominant position in the global voice commerce market. This dominance can be attributed to the region’s early adoption of technology and the presence of highly advanced technological infrastructure. North America boasts a well-established e-commerce ecosystem along with robust digital payment systems and efficient logistics networks, creating a perfect foundation for voice commerce integration. The high disposable income in the region further expands the market size, as consumers are more receptive to experimenting with convenient shopping methods like voice commerce.


Download Sample


Key Developments in Voice Commerce

The voice commerce industry is witnessing exciting developments. In January 2024, Mercedes-Benz introduced a novel virtual assistant capable of providing context-based suggestions and engaging in conversations with users. This highlights the focus on enhancing user experience and personalizing interactions within the voice commerce landscape. Additionally, collaborations like the one between Bengaluru-based startup CoRover and LIC, India’s leading insurance company, demonstrate the integration of voice commerce solutions across various sectors.


Relevant Reports:

Graph Database Market 

Edge AI Market 

Team Collaboration Tools Market 

Edge Computing Market 

Media Contact
Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Send Email
Phone: 08774414866
Address:DATAM INTELLIGENCE 4MARKET RESEARCH LLP Ground floor, DSL Abacus IT Park, Industrial Development Area, Uppal, Hyderabad, Telangana 500039
State: Telangana
Country: India