Global Voice Commerce Market Projected to Surpass $421.7 Billion by 2029 with 29.2% Annual Growth

What combination of drivers is leading to accelerated growth in the voice commerce market?
The growing demand for e-commerce is expected to propel the growth of the voice commerce market. E-commerce is rapidly expanding due to the convenience of online shopping, secure payment options, and home delivery services. Voice commerce enhances the shopping experience by enabling hands-free browsing and purchasing, providing customers with a more seamless and personalized experience. For instance, e-commerce sales in Canada are projected to grow from $2.34 billion in March 2022 to $40.3 billion by 2025. This growth in e-commerce is driving the expansion of the voice commerce market, as more consumers turn to voice-enabled devices for shopping.

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What is the projected compound annual growth rate (CAGR) of the voice commerce market from 2025 to 2034, and what factors influence it?
The voice commerce market has experienced exponential growth, rising from $116.83 billion in 2024 to $151.39 billion in 2025, at a CAGR of 29.6%. Growth factors include the increasing popularity of online shopping, evolving consumer search and purchasing habits, deeper online business penetration, the impact of social media and smartphones, and the rising demand for contactless shopping experiences.

The voice commerce market is set for exponential growth, reaching $421.7 billion by 2029 with a CAGR of 29.2%. Factors driving this growth include the increasing use of voice assistants and voice-enabled devices, a strong focus on enhancing customer engagement, the expansion of the authentication market, the rising use of voice-based searches, and growing applications across retail, banking, smart homes, healthcare, and the automobile industry. Key trends anticipated include the integration of e-commerce platforms with voice technologies, the adoption of AI-driven solutions, advancements in natural language processing, the increasing demand for connected devices, and the automation of shopping operations through voice assistants.

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How are the latest trends influencing the growth of the voice commerce market?
In the voice commerce market, companies are focusing on AI-powered voice assistants to streamline shopping processes and enhance user experiences. For instance, Haptik, an India-based software company, launched Buzzo, an AI-powered voice assistant designed to optimize the digital shopping experience on e-commerce websites and apps. Buzzo utilizes natural language understanding (NLU) and machine learning to interpret user commands and queries, providing personalized product recommendations based on metadata such as filters, reviews, and pricing. This approach mimics the assistance a user would receive from an in-store sales representative, enhancing the convenience and personalization of online shopping.

What are the major segments of the voice commerce market and their role in driving growth?
The voice commerce market covered in this report is segmented -

1) By Type: Smart Speaker, Voice Assistant, Virtual Digital Assistant
2) By Application: Personal Care, Electronics, Household Appliances, Groceries, Arts Crafts, Other Applications
3) By End-User: Travel Industry, Hospitality Industry, Entertainment Industry, Other End-Users

Subsegments:
1) By Smart Speaker: Amazon Echo, Google Home, Apple HomePod, Others
2) By Voice Assistant: Google Assistant, Amazon Alexa, Apple Siri, Microsoft Cortana
3) By Virtual Digital Assistant: AI-Based Assistants, Chatbots

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Which regions are key players in the growth of the voice commerce market?
North America was the largest region in the voice commerce market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the voice commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the voice commerce market?
Major companies operating in the voice commerce market are Amazon.com Inc., Apple inc., Alphabet Inc., Google LLC, Samsung Electronics Co., Alibaba Group Holding Ltd., Sony Corp., Salesforce Inc., Baidu Inc., Adobe Inc., Twilio Inc., Vizio Inc., Sonos Inc., BigCommerce Pty. Ltd., Algolia Inc., Agora.io, iAdvize Inc., SoundHound Inc., Ferns N Petals Pvt. Ltd., Edrone Ltd., Humanize LLC, Yoshai Ltd., Voicify LLC, Jetson AI Inc.

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What Is Covered In The Voice Commerce Global Market Report?

•Market Size Forecast: Examine the voice commerce market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the voice commerce market for a structured understanding.
•Key Players Overview: Analyze major players in the voice commerce market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the voice commerce market.
•Segment Contributions: Evaluate how different segments drive overall growth in the voice commerce market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the voice commerce market.
•Industry Challenges: Identify potential risks and obstacles affecting the voice commerce market.
•Competitive Landscape: Review strategic developments in the voice commerce market, including expansions, agreements, and new product launches.

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