Voice assistant-powered transactions to increase by more than 400%

Voice assistant-powered e-commerce transaction values are expected to reach 19.4bn by 2023, an increase from just $4.6bn in 2021.

A voice assistant is a piece of technology that leverages voice recognition and language processing to carry out tasks dictated from a user. The most high-profile services are Siri, Alexa, Google Assistant and Cortana.

The findings, which comes in Juniper Research’s latest study on voice assistants, predicts the availability of voice assistant devices with screens will support this rapid adoption within sales.

Juniper also stated the greater availability of content domain libraries will be integral to the increased number of voice assistant services used in transactions.

In its report, the company encourages leaders in the industry, Amazon, Apple and Google, to open their commerce services to third-party retailers. It also urges them to leverage their own ecosystems to expand monetisation capabilities.

Despite this, Juniper does state there could be barriers in adoption from third-party players due to an absence of a screen in many smart speakers. This reduces the ability to see products or get better visualisation of their orders.

Report co-author Meike Escherich said, “Users will generally use voice assistants to initially explore a product, before completing the purchase via a device with a screen. Voice assistant platforms must ensure that the user experience is so seamless that transactions are carried out via these platforms, rather than requiring additional devices.”

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