Voice Commerce Market 2024-2031: Global Industry Size, Share, Growth Trends, and Leading Players Forecast | Amazon.com, Inc., Google, Apple Inc.

DataM Intelligence has released a new research report on the Voice Commerce market. The report provides a detailed analysis of current and emerging trends, offering insights into the market dynamics. It utilizes Porter's Five Forces model to assess key factors such as supplier and customer relationships, risks from various agents, competitive intensity, and opportunities for new entrants. The study also includes research data from various companies, analyzing factors like benefits, gross margins, and strategic decisions in the global market. The report is enriched with tables, charts, and infographics for a clear presentation of the findings.

The Voice Commerce Market is anticipated to reach USD 586.3 billion by 2031 from USD 108.33 billion in 2023, at a CAGR of 27.28% during the forecast period.

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Voice commerce refers to the use of voice recognition technology and virtual assistants to facilitate online shopping and transactions. Consumers can make purchases, search for products, and interact with retailers using voice commands through devices such as smartphones, smart speakers, and other voice-enabled technologies. This form of commerce enhances the shopping experience by allowing for hands-free interactions and enabling quick access to information and purchasing options. Voice commerce is becoming increasingly popular as it streamlines the buying process and provides a convenient alternative to traditional online shopping methods.

List of the Key Players in the Voice Commerce Market:

Amazon.com, Inc., Google, Apple Inc., Microsoft, Adobe, Algolia, edrone LLC, yippy LLC, Samsung and NVIDIA Corporation.

Key Developments:

In January 2024, Mercedes-Benz unveiled a new virtual assistant at the CES electronics trade fair, capable of offering context-based suggestions and engaging in dialogue with users.

In April 2023, Voices, the leading voice-over marketplace, acquired Voices.ai, an advanced developer platform for voice applications, with the goal of launching next-generation software for voice technology.

Also in April 2023, Bengaluru-based startup CoRover partnered with LIC, India's leading insurance company, to introduce LIC Mitra, an AI chatbot designed to enhance LIC's digital services.

Research Process:

Both primary and secondary data sources have been used in the global Voice Commerce Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

Segment Covered in the Voice Commerce Market:

By Type: Smart Speaker, Voice Assistant, Virtual Digital Assistant

By Application: Personal Care, Electronics, Household Appliances, Groceries, Arts Crafts

By End-User: Travel Industry, Hospitality Industry, Entertainment Industry, Others

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Regional Analysis:

➣ North America (US, Canada, Mexico)

➣ Europe (Germany, Russia, UK, France, Italy, Spain, Rest of Europe)

➣ Asia-Pacific (China, India, Japan, Australia, Rest of Asia Pacific)

➣ South America (Brazil, Argentina, Rest of South America)

➣ Middle East and Africa

**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**

Chapter Outline:

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Voice Commerce market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Voice Commerce Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The global Voice Commerce market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Voice Commerce Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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The Research Report Offers Answers To The Following Questions:

☛ What is the expected growth rate of the global market for the forecast period?

☛ What are the key driving factors that are responsible to shape the fate of the Voice Commerce market during the forecast period?

☛ What will be the overall size of the market during the analysis period?

☛ What are the prominent market trends which influence the development of the Voice Commerce market across various regions?

☛ Who are the key market players and the market strategies that have helped them to secure the leading position in the global market?

☛ What are the challenges and threats that are likely to act as a barrier to the growth of the Voice Commerce market?

☛ What are the major opportunities that the companies can get to attain success in the world?

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