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The voice commerce market share is expected to increase by USD 55.68 billion from 2021 to 2026, at an accelerating CAGR of 24.34%.
The voice commerce market has been broadly categorized into the following demographic segmentations:
The voice commerce market report offers information on several market vendors, including 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. among others.
One of the key highlights of the voice commerce market research report is the post-COVID-19 impact analysis on the market, which will help companies evaluate their business approaches for the forecast period.
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The enhanced purchasing convenience is notably driving the voice commerce market growth, although factors such as data privacy and security concerns may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the voice commerce industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Voice Commerce Market Driver
Key Voice Commerce Market Trend
Key Voice Commerce Market Challenge
This voice commerce market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global voice commerce market as a part of the global application software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the voice commerce market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the voice commerce market encompasses successful business strategies deployed by the key vendors. The voice commerce market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The voice commerce market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the voice commerce market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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40% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for the voice commerce market in North America. Market growth in this region will be slower than the growth of the market in other regions.
An increase in online shopping, coupled with the accelerated adoption as well as usage of voice assistants by customers will facilitate the voice commerce market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 pandemic had a positive impact on the regional market in 2020. Due to the lockdowns and restrictions imposed by governments across the region, people spent most of their time indoors. This led to the acceptance of and dependence on technology like AI and IoT using voice assistant applications. These factors are expected to drive the voice commerce market growth during the forecast period.
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The voice commerce market share growth in the personal care segment will be significant during the forecast period. Personal care products are a group of consumer products that are used in personal hygiene, personal grooming, or beautification and are widely used in everyday life. These products include shampoo, body lotions, and other products, perfumes, shaving gels, and others. Moreover, this segment is expected to grow during the forecast period owing to factors such as rising beauty consciousness among individuals, the influence of social media, as well as increasing disposable income levels. This, in turn, will boost the voice commerce market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the voice commerce market size and actionable market insights on the post-COVID-19 impact on each segment.
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Voice Commerce Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 24.34% |
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Market growth 2022-2026 |
$ 55.68 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
18.98 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 40% |
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Key consumer countries |
US, Canada, China, India, UK, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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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. |
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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. |
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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. |
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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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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