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Voice Assistance Commerce Middle East and Africa Market Research Report 2021-2027

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wiseguyreport

COVID-19 pandemic has accelerated the growth of eCommerce market, as most of the country was experiencing lockdown and people are advised to stay at home. Global digital commerce trends indicates that sales through online platform have witnessed double the growth over the past months, compared to a consistent growth rate of around 15-18% on an average in recent years. It is estimated that by 2040, 95% of shopping would occur through online platforms. This would provide opportunity for the retailers, who are selling products only through online platforms. Also, this would motivate other retailers, who are yet to have an online store, to open their e-commerce platform, to cater to the upcoming demand. Furthermore, to make online shopping more convenient, voice assistance searches are becoming greatly popular and are being widely adopted.

ALSO READ : http://www.marketwatch.com/story/voice-assistance-commerce-market-research-report-with-size-share-value-cagr-outlook-analysis-latest-updates-data-and-news-2021-2028-2021-07-12

 

Use of voice assistance devices such as Alexa, Siri, Google Assistant, and Cortana for voice shopping have increased over the past few years and is expected to witness strong growth during the next decade, as by 2030 it is expected that voice assistance commerce would account for 30% of overall e-commerce sales. As per a top market research firm, the global smart speaker market revenue is expected to grow from US$ 11.9 billion in 2019 to over US$ 35.5 billion by 2025. Further, by 2022, 55% of households are expected to own at list one smart speaker. According to ComScore, 2020, wide adoption of voice assistance commerce is witnessed, as about 50% of all online searches were voice-activated. 60% of people owning a voice assistant have used it to buy something through voice.

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Based on Component, the global voice assistance commerce market is segmented into Set-top Box, Smartphone & Tablet, Smart Speaker, Other Voice Assistance Devices (Alexa, Echo etc.). Based on the analysis, increased adoption of smartphone is expected to boost the market. Globally there are the 3.8 billion smartphone users globally, representing 48.33% of the world's population owning a smartphone.

ALSO READ : http://www.marketwatch.com/story/dye-sensitized-solar-cells-market-research-report-with-size-share-value-cagr-outlook-analysis-latest-updates-data-and-news-2020-2026-2021-07-16

 

Based on product category, the global voice assistance commerce market is bifurcated into Grocery, Entertainment, Clothing, Electronic, Others. Based on our analysis, Grocery product segment dominate the market, with more than 39% share in 2020. Grocery segment have witnessed increased sales through online platform, this would drive the overall growth for the segment in coming years. Globally, online grocery sales grew 22.0% in 2019, making it one of the fastest growing segment in the ecommerce industry. Post-pandemic, e-grocery sales is expected to jump from nearly US$35 billion sales to more than US$250 billion by 2025.

Based on end-users, the global voice assistance commerce market is segmented into residential and commercial. Voice assistance commerce has the potential to be a game-changer for B2C and B2B e-commerce. According to Google, 20% of all searches are already made via voice commands. Furthermore, the voice technology user base in the U.S. accounts for 42.7% of the population.

Furthermore, for better understanding of the overall adoption and penetration of the global voice assistance commerce market, the report provide detailed analysis for major regions/countries including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Russia, Rest of Europe); Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of APAC) and Rest of the World. Currently, North America dominate the global voice assistance commerce market, although China dominates the global e-commerce market. China generated revenue of US$ 636.1 billion in 2019, compared to US$ 504.6 billion by US.

Some of the major companies operating in the global voice assistance commerce market are Apple inc., Microsoft Corporation, Google Inc., Amazon.com, Harman International Industries, Incorporated, Samsung Electronics, Baidu, JD.com, Alibaba, Bose Corporation. These companies are investing heavily on voice assistance technology and have launched one or more voice assistance devices in the past few years. Samsung Electronics have launched its voice assistance device named “Bixby” in 2017.

Global Voice assistance commerce market generated revenue of US$ 16.4 billion in 2019 and reached to US$ 30.4 billion in 2020. Owing to the sudden outbreak of Covid-19, market for online shopping have increased massively. The trend is expected to increase the overall market for e-commerce, which in turn would boost the overall market for voice assistance commerce. The global voice assistance commerce market is expected to witness CAGR growth of 77.0% during the forecast period to reach a market valuation of US$ 1,377.0 billion by 2027.

Table of Contents:

 

1 MARKET INTRODUCTION

1.1 Market Definitions

1.2 Objective of the Study

1.3 Limitation

1.4 Stake Holders

1.5 Currency Used in Report

1.6 Scope of the Global Voice Assistance Commerce Market Study

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1 Research Methodology for the Global Voice Assistance Commerce Market

2.1.1 Main Objective of the Global Voice Assistance Commerce Market

3 MARKET SYNOPSIS

3.1 Overview of Global E-commerce Markets, 2019

3.2 Most Preferred E-commerce Product Category, by Country 2020

4 EXECUTIVE SUMMARY

5 GLOBAL VOICE ASSISTANCE COMMERCE MARKET DYNAMICS

5.1 Market Drivers

5.1.1 Increased penetration of Online Businesses

5.1.2 Proliferation of social media and Smartphones

5.1.3 Increased Demand for Contactless Shopping

5.2 Market Challenges

5.2.1 Concern related to Trust and Data Security

5.3 Market Opportunity

……Continuned 

 

CONTACT DETAILS :

 

[email protected]

 

+44 203 500 2763

 

+1 62 825 80070

 

971 0503084105

 

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