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Voice commerce market size to grow by USD 55.68 Bn, Market Research Insights highlight Adobe Inc., Agora Inc., and Algolia Inc. as Key Vendors – Technavio – PR Newswire

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Sep 22, 2022, 05:00 ET
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NEW YORK, Sept. 22, 2022 /PRNewswire/ — According to the research report, the voice commerce market will witness a YOY growth of 18.98% in 2022 at a CAGR of 24.34% during the forecast period. The report is segmented by application (personal care, electronics, household appliances, groceries, and arts crafts) and geography (North America, Europe, APAC, South America, and the Middle East and Africa).
For more insights on YOY and CAGR, Read FREE Sample Report.

The global voice commerce market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. 
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.   
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
Find additional highlights on the growth strategies adopted by vendors and their product offerings, Download Free Sample Report. 
North America will account for 40% of market growth. The voice commerce market in North America is mostly centered in the US and Canada. The market in this region will expand more slowly than markets in other regions. Over the course of the forecast period, a surge in online purchasing as well as customers’ quicker adoption and usage of voice assistants will support the growth of the voice commerce market in North America. Buy Sample Report.
The personal care segment’s market share will expand significantly. Personal care items are a class of consumer goods that are commonly utilized in daily life for personal cleanliness, grooming, or attractiveness. These products include shampoo, body lotions, other items, fragrances, and other things like shaving gels.
Additionally, this market sector is anticipated to expand throughout the course of the forecast period as a result of factors like rising beauty consciousness among people, the impact of social media, and rising disposable income levels. In turn, this will accelerate the expansion of the voice commerce industry during the anticipated timeframe.
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Voice Commerce Market Scope
Report Coverage
Details
Page number
120
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Accelerate at a CAGR of 24.34%
Market growth 2022-2026
$ 55.68 billion
Market structure
Fragmented
YoY growth (%)
18.98
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 40%
Key consumer countries
US, Canada, China, India, UK, and Germany
Competitive landscape
Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled
Adobe Inc., Agora Inc., Algolia Inc., Alphabet Inc., Amazon.com Inc., Edrone sp. z o.o., iAdvize SAS, Jetson AI Inc., Microsoft Corp., Salesforce.com Inc., Samsung Electronics Co. Ltd., Voicify LLC, and Yosh.AI Ltd.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Browse for Technavio “Information Technology” Research Reports
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. 
Contact 
Technavio Research 
Jesse Maida 
Media & Marketing Executive 
US: +1 844 364 1100 
UK: +44 203 893 3200 
Email: [email protected] 
Website: www.technavio.com/
SOURCE Technavio
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