Eight billion voice assistants by 2023, says Juniper
Digital voice assistant market to grow to eight billion by 2023, says Juniper Research
There will 8 billion digital voice assistants in use by 2023, up from an estimated 2.5 billion at the end of 2018, according to Juniper Research.
The analyst company predicts significant growth in the voice assistant sector, mainly through consumer smartphone assistants, but with growth in other devices and enterprise deployments.
Juniper’s new research Digital Voice Assistants: Platforms, Revenues & Opportunities 2019-2023, predicts that digital assistants like Google Assistant and Sir will be most popular, but growth will be faster in other sectors, with voice assistants on Smart TVs growing by 121.3% CAGR over the next five years, smart speakers by 41.3% and wearables by 40.2%.
Current usage of OEM-based voice assistants is estimated to be 46.5% of smartphones worldwide, with the highest levels of use in English-speaking countries with the longest-established habits of digital voice assistant usage. In these regions, such as Australia, the UK and the US, usage will approximate or exceed 60% in 2023.
Demand for multi-platform voice assistants, that are independent of specific platforms will grow, leading to a decline of the current generation of standalone voice assistants from 2022. The exception will be in China, where companies like WeChat and Alibaba provide app-based offerings alongside speakers that are not part of an operating system. This means that China will have 78% of voice assistant apps installed globally in the next 5 years.
Juniper expects the market for enterprise voice assistants to expand, in both B2B and B2C deployments, with B2C as a platform for delivering products and services to the consumer, and B2B as a way of handling a variety of administrative and information tasks within a company. For B2B, voice assistants are primarily deployed for intelligently sorting and booking meetings and appointments. These can range from conference call scheduling to office cleaning, depending on how the assistant is deployed within a given company.
Juniper’s report also shows that 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.
“We expect the majority of voice commerce to be digital purchases, until digital assistants offer truly seamless cross-platform experiences,” remarked research author James Moar. “Connected TVs and smart displays are vital here, as they can provide a visual context that is lacking in smart speakers.”