Science & Technology

E-commerce transaction values via voice assistants to grow by over 320%

Leaders in the voice assistants space are recommended to open up their platform-based commerce services to third-party retailers

voice assistants

E-commerce transaction values via voice assistants to grow by over 320%. Source: pixabay.com

According to Juniper Research, e-commerce transaction values via voice assistants will reach $19.4 billion by 2023, rising from just $4.6 billion this year.

The report forecasts that the availability of voice assistant devices with screens will be imperative to the growing monetisation of voice assistant commerce services.

This study identified that increasing the size and accessibility of the content domain libraries will be critical to increasing the number of transactions processed by voice assistant services.

In turn, this will expand the value proposition of voice commerce to third-party retailers, and generate new revenue streams for voice assistant platforms.

Users will generally use voice assistants to initially explore a product, before completing the purchase via a device with a screen. Voice assistant platforms must ensure that the user experience is so seamless that transactions are carried out via these platforms, rather than requiring additional devices
Meike Escherich, report co-author 

At the same time, the global-installed base of smart speakers is expected to rise by over 50% between 2021 and 2023, assisting the adoption of monetisation strategies.

We’ve reported that the number of e-commerce companies in Ukraine increased.

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