Revenue from online transactions completed using voice assistants is set to grow over 320% by 2023.
A study from Juniper Research has revealed that voice assistant transactions are set to reach $19.4 billion by 2023, an increase from $4.6 billion in 2021. In order to increase the adoption of voice assistance in ecommerce transactions, content domain libraries must be developed and made available to retailers.
Along with leveraging their own ecosystems, Big Tech like Amazon and Google must allow third-party retailers to access their platform-based services. This will help increase the adoption of voice assistants in ecommerce transactions.
According to the report, the availability of voice assistant devices is key to increase monetisation of voice assistant services in online transactions. Additionally, the study predicts an increase in smart speakers by 50% between 2021 and 2023.
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