Press release
Voice Commerce Market is valued at USD 46.2 billion in 2024 and is projected to reach USD 178.3 billion by 2030
Voice Commerce Market
The Voice Commerce Market is expanding rapidly as consumers increasingly adopt voice-enabled shopping through smart speakers, virtual assistants, smartphones, and connected devices. Using platforms powered by AI, NLP (Natural Language Processing), and voice recognition technologies, voice commerce enables hands-free, conversational, and frictionless shopping experiences-driving significant transformation across retail, e-commerce, banking, and digital payment ecosystems.
The global voice commerce market is valued at USD 46.2 billion in 2024 and is projected to reach USD 178.3 billion by 2030, reflecting an exceptionally high CAGR of 25.4% during 2024-2030. Growth is driven by rising smart speaker adoption, rapid emergence of voice-based payments, and strong consumer preference for convenience-driven shopping interfaces.
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Market Growth (2024-2030)
• Market Size 2024: USD 46.2 billion
• Market Size 2030: USD 178.3 billion
• CAGR: 25.4%
North America leads due to high smart speaker penetration, while Asia-Pacific is the fastest-growing region with rapidly increasing smartphone usage, digital payments, and AI-based commerce.
Key Market Drivers
• Growing global adoption of smart speakers like Amazon Echo, Google Nest, and Apple HomePod
• Rising consumer preference for hands-free, voice-enabled shopping
• Expansion of AI-powered voice assistants in smartphones, connected cars, and IoT devices
• Increasing integration of voice payments via UPI, digital wallets, and bank-assisted voice authentication
• Growth in personalized shopping experiences using NLP and conversational AI
• Strong push by retailers and e-commerce platforms to enable voice-driven ordering and reordering
• Advancements in speech recognition, sentiment analysis, and predictive shopping algorithms
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Market Segmentation
By Component
• Solutions
o Voice Assistant Platforms
o Speech Recognition Software
o Natural Language Processing (NLP) Engines
o Voice-Based Payment Systems
o E-commerce Voice Integration Tools
• Services
o Consulting
o Deployment & Integration
o Support & Maintenance
By Device Type
• Smart Speakers
• Smartphones
• Smart TVs
• Wearables
• Connected Cars
• IoT Home Devices
By Technology
• Automatic Speech Recognition (ASR)
• Natural Language Processing (NLP)
• Text-to-Speech (TTS) & Speech-to-Text (STT)
• Voice Biometrics & Authentication
• AI-Powered Conversational Engines
By Application
• Online Retail & E-commerce
• Food Ordering & Grocery Shopping
• Banking & Financial Transactions
• Travel Bookings
• Customer Service & Support
• Media & Entertainment
• Smart Home Commerce
• Automotive Voice Commerce
By End-Use Industry
• Retail
• BFSI
• Healthcare
• Telecom
• Automotive
• Hospitality
• Consumer Electronics
• Logistics & Delivery Services
By Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa
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Key Market Trends
• Rising adoption of voice payments integrated with mobile wallets and bank-authenticated systems
• Growth of multilingual voice commerce across emerging markets
• Increasing use of emotion-recognition AI to improve conversational accuracy
• Integration of voice commerce with metaverse, AR shopping, and digital avatars
• Expansion of voice-enabled customer service through virtual agents
• Retailers launching voice-based loyalty programs and personalized product recommendations
• Smart home ecosystems enabling automated reordering of groceries and home essentials
Competitive Landscape
Major companies operating in the Voice Commerce Market include:
• Amazon (Alexa)
• Google LLC (Google Assistant)
• Apple Inc. (Siri)
• Samsung Electronics (Bixby)
• Alibaba Group (Tmall Genie)
• Baidu (DuerOS)
• Microsoft Corporation
• SoundHound Inc.
• Nuance Communications
• Voicebot.ai
• IBM Watson AI
These companies are investing in improved NLP accuracy, multilingual voice capabilities, biometric voice authentication, and deep integration with retail and digital payment ecosystems.
Recent Developments
• Launch of enhanced voice-enabled shopping APIs by major retailers for seamless integration
• Banks introducing voice verification and transaction authentication to enhance security
• New partnerships between e-commerce platforms and smart speaker manufacturers
• Development of AI-driven voice engines for natural and hyper-personalized shopping conversations
• Expansion of voice commerce features into connected cars, enabling in-drive shopping
• Rollout of regional-language voice assistants across Asia-Pacific and Latin America
• Introduction of voice-based subscription models for groceries, digital goods, and recurring orders
This report is also available in the following languages : Japanese (音声コマース市場), Korean (음성 상거래 시장), Chinese (语音商务市场), French (Marché du commerce vocal), German (Markt für Sprachhandel), and Italian (Mercato del commercio vocale), etc.
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