Voice-Activated Shopping Assistants Market Size, Share, Analysis, Trends, Growth, 2032

Voice-Activated Shopping Assistants Industry Prospective:

The global voice-activated shopping assistants market size was worth around USD 4.21 billion in 2023 and is predicted to grow to around USD 20.93 billion by 2032, with a compound annual growth rate (CAGR) of roughly 19.50% between 2024 and 2032.

Request Free Sample

Voice-Activated Shopping Assistants Market: Overview

Voice-activated shopping assistants enable voice commerce. The emerging sector of voice-activated shopping deals with the use of sophisticated technology to improve the retail experience. The assistants are programmed to help users shop for all kinds of products using voice-based commands.

Some of the most commonly used voice-activated shopping assistants include Siri by Apple, Google Assistant, and Alexa by Amazon. Market research suggests that the future holds tremendous growth opportunities for voice-activated shopping assistants due to the advantages offered by the technology.

In addition, the rapid incorporation of digital solutions into the everyday lives of people around the world will create market expansion opportunities. The voice-activated shopping assistant industry rate is further driven by the surge in popularity of complementing accessories such as smart speakers and integration of Internet of Things (IoT) technology. During the forecast period, the industry players must focus on providing safer solutions that do not compromise user security.

Key Insights:

• As per the analysis shared by our research analyst, the global voice-activated shopping assistants market is estimated to grow annually at a CAGR of around 19.50% over the forecast period (2024-2032)
• In terms of revenue, the global voice-activated shopping assistants market size was valued at around USD 4.21 billion in 2023 and is projected to reach USD 20.93 billion by 2032.
• The voice-activated shopping assistant market is projected to grow at a significant rate due to the rising number of consumers worldwide.
• Based on the technology, the voice recognition technology segment is growing at a high rate and will continue to dominate the global market as per industry projections.
• Based on the end-user, the individual segment is anticipated to command the largest market share.
• Based on region, North America is projected to dominate the global market during the forecast period.

Request Free Sample

Voice-Activated Shopping Assistants Market: Growth Drivers

Rising number of consumers worldwide will drive the market demand rate

One of the primary factors driving the global voice-activated shopping assistants market is expected to emerge in the form of a rising consumer base. The world population is currently over 8 billion and may reach close to 10 billion by 2050, as per official projections.

In addition to this, the global consumerism rate has escalated at a sharp rate in the last few decades. The major reasons prompting consumerism levels worldwide include higher consumer awareness, increasing disposable income, and strategic marketing techniques adopted by goods producers. In the last decade, the influence of social media in influencing the consumer buying pattern has been critical.

Large companies such as Nike and food giants spend millions of dollars every year on social media marketing. As the number of shoppers globally continues to grow, the growth scope for voice-activated shopping solutions is expected to witness a positive outlook.

Boom in e-commerce shopping will directly translate to higher market revenue as per industry findings

The e-commerce industry is one of the largest propellers of demand for voice-activated shopping assistants. The auditory shopping helpers allow buyers to shop with ease without manually browsing through the products. Consumers can directly command the assistants to make a certain purchase with just a simple voice command.

The global e-commerce sector is one of the fastest-growing industries. The surging investments from government-backed and private institutes to further promote online shopping among citizens will be crucial to pushing the application of virtual shopping aids.

In addition to this, the products available in the global voice-activated shopping assistants market are extremely helpful for people with mobility issues. For instance, patients with limited limb movement can place orders for medicines using the tool. Similarly, shopping enablers functioning through audio commands are useful for the elderly population.

Voice-Activated Shopping Assistants Market: Restraints

Growing rate of cybercrime globally will limit the industry’s expansion rate

The global industry for voice-activated shopping assistants is expected to be restricted by the rising number of cybercrimes worldwide. Digital fraud, data breaches, identity theft, and privacy violations are some of the most common threats to which users of voice-activated shopping assistants are exposed. Technologies enabling cybercrimes are rapidly evolving, putting more people at risk of becoming victims.

For instance, in March 2022, researchers from the University of Catania and London's Royal Holloway University announced the discovery of a flaw in the Amazon Echo smart speakers. The attack enabled by the flaw was named "Alexa versus Alexa,” allowing a cybercriminal to access and control the speaker.

Voice-Activated Shopping Assistants Market: Opportunities

Continuous investments in improving technology features and security aspects will create more growth opportunities

The global voice-activated shopping assistants market is anticipated to generate more growth opportunities due to the consistent investments in research & development. Market players are focusing on developing solutions that offer improved and comprehensive features, including security measures.

For instance, October 2024 is expected to witness the launch of a revamped version of Alexa. The next-generation version of the popular voice-activated shopping tool will be powered by Anthropic's Claude artificial intelligence models instead of relying on Artificial Intelligence (AI) made by Amazon. The upcoming version will be called ‘Remarkable Alexa’ and will use extremely powerful generative AI to deal with simple and complex queries of the users.

On the other hand, in September 2024, Apple Inc., the parent company of Siri, a voice-based virtual assistant, announced the integration of Apple Intelligence with iPadOS 18.1, iOS 18.1, and macOS Sequoia 15.1. The coming months will witness the addition of more features. The new innovations are expected to improve user experience.

Voice-Activated Shopping Assistants Market: Challenges

Market control with a limited number of players is a crucial challenge for new entrants

The global voice-activated shopping assistants industry is currently controlled by a limited number of players such as Apple Inc., Google, and Amazon. While several emerging companies are trying to make a market in the growing industry, it will be difficult for the new entrants to replace market giants.

 Moreover, voice-activated shopping assistants are currently unequipped to completely take over traditional forms of shopping and can only be a complementing solution to in-person or conventional online shopping experiences.

Voice-Activated Shopping Assistants Market: Segmentation

The global voice-activated shopping assistants market is segmented based on technology, end-user, and region.

Based on the technology, the global market segments are natural language processing, IoT technology, voice recognition technology, and others. In 2023, the highest growth was observed in the voice recognition technology segment. Shopping assistants that can be managed using voice commands are developed to respond to only authorized speeches. The revenue in IoT technology and natural language processing will also register significant growth during the projection period. In 2023, the global natural language processing market was valued at over USD 24 billion.

Based on the end-user, the voice-activated shopping assistants industry segments are corporates and individuals. In 2023, the highest demand was registered in the individual segments. It refers to the use of voice-activated shopping assistants by individuals for personal use. The growing popularity of e-commerce worldwide along with increasing dependence on digital solutions will fuel segmental demand. In 2023, more than 500 million units of Alexa by Amazon were sold globally.

Voice-Activated Shopping Assistants Market: Report Scope

Voice-Activated Shopping Assistants Market: Regional Analysis

North America to take the lead during the projection period

The global voice-activated shopping assistants market will be led by North America during the projection period. The US is expected to deliver the highest revenue as per regional market research. The US is home to the most dominant players in the market, including Amazon, Google, and Apple. The technology giants are pioneers in introducing voice-based shopping experiences. The ongoing investments by industry giants as well as other younger players in delivering efficient solutions to the consumers are key to higher regional revenue.

Moreover, rising collaboration between voice-activated shopping assistant providers and product retailers has helped the US continue its dominance. In October 2020, eBay, a popular e-commerce retailer with global operations, announced a partnership with Google Assistant. The partnership allowed the former to use the voice control feature of the virtual assistant to be integrated with its Android applications.

Asia-Pacific has a high demand for voice-activated shopping assistants. The region has a growing rate of consumer base. India, China, Japan, and South Korea are likely to emerge as leading users of virtual shopping assistants. In May 2024, Amazon announced its intention to launch a new AI-powered version of Alexa in the Indian market with subscription plans. Additionally, Asian countries are some of the largest contributors to growing revenue registered by Apple Inc.

Voice-Activated Shopping Assistants Market: Competitive Analysis

The global voice-activated shopping assistant market is led by players like:

• Bixby (Samsung subsidiary)
• Google
• Walmart (through various partnerships)
• Microsoft
• Facebook (Meta)
• Amazon
• LG Electronics
• Xiaomi
• Apple
• JD.com
• Samsung
• Alibaba
• Tencent
• Baidu
• Sonos.

The global voice-activated shopping assistants market is segmented as follows:

By Technology

• Natural Language Processing
• IoT Technology
• Voice Recognition Technology
• Others

By End-User

• Corporates
• Individuals

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa