Future of Shopping: Voice Commerce Market Analysis & Forecast | Most Leading Companies - Amazon.com, Inc., Google, Apple Inc., Microsoft, Adobe, Algolia, edrone LLC, yippy LLC

Global Voice Commerce Market reached US$ 108.33 billion in 2024 and is expected to reach US$ 586.3 billion by 2031, growing with a CAGR of 27.28% during the forecast period 2024-2031.

Voice Commerce Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Voice Commerce refers to the use of voice-enabled devices (like smart speakers and virtual assistants) to search, shop, and make purchases online. It simplifies the buying process by allowing users to complete transactions hands-free, using just voice commands.

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

Industry Development:

In January 2024, Mercedes-Benz unveiled a next-generation virtual assistant at the CES electronics trade show, offering users context-aware suggestions and interactive dialogue capabilities.

In April 2023, Voices-recognized as the world's leading voice-over marketplace-acquired Voices.ai, an advanced developer platform focused on voice applications. This strategic acquisition is set to power the launch of a next-gen voice application development platform.

Also in April 2023, Bengaluru-based startup CoRover joined forces with LIC, India's premier insurance provider, to introduce LIC Mitra, an AI-powered chatbot aimed at enhancing LIC's digital service experience.

Growth Forecast Projected:

The Global Voice Commerce Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

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.

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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

Regional Analysis for Voice Commerce Market:

The regional analysis of the Voice Commerce Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Voice Commerce market?

➠ Who are the leading manufacturers in the global Voice Commerce industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Voice Commerce industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Voice Commerce market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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