Voice Shopping will Explode to $40 Billion by 2022

IMG_9269Currently only 10-13% of homes in the US and UK have smart (Voice Controlled) speakers which generate $2 Billion a year from voice initiated online sales.

 

According to a Study from OC&C Strategy Consultants Voice Shopping is going to explode to $40 Billion per year by 2022 in the US and UK markets.

Amazon is predicted to dominate the voice controlled smart device category with a market penetration of 55%.  Currently the penetration of Smart Speakers is only 13% for Amazon, 4% for Goggle Home and 2% for Microsoft Cortana.  Apple’s HomePod with Siri has just been released however given it’s price and market delay, HomePod is not expected to be a small niche player in the Smart Speaker Space while Amazon Echo and Alexa enable products will continue to dominate for the foreseeable future.

Source:  OC&C Strategy Consultants: 

http://www.occstrategy.com/en/insights/stu/the-talking-shop

 

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