A new study from Juniper Research forecasts that there will be 8 billion digital voice assistants in use by 2023, up from an estimated 2.5 billion at the end of 2018.
- While smartphone assistants will be the largest platform by volume thanks to Google Assistant and Siri, the Juniper study found that the fastest growing voice assistant categories over the next five years will be smart TVs (121.3% CAGR) smart speakers (41.3%) and wearables (40.2%).
- As demand for multi-platform assistants increases, standalone apps, made by independent vendors for smartphones and tablets, will decline. Juniper expects revenues from these apps to begin to fall in key markets from 2022.
- Voice commerce will grow substantially reaching over $80 billion per annum by 2023. However, this includes money transfer and purchases of digital goods alongside its use for more traditional purchases.
James Moar, Juniper research author