Research has found that consumer purchasing through voice-enabled smart TVs will reach nearly $500 million in 2023, a big increase from the $126 million expected in 2021.
The study from Juniper Research, titled ‘Voice Assistants: Monetisation Strategies, Competitive Landscape & Market Forecasts 2021-2026’, suggests that the growth reflects how voice assistants are becoming context-dependent sales portals, as well as information and control systems, and smart TVs bring an important visual element to voice assistant purchases.
It also suggests that although smartphones will remain dominant in terms of usage, other platforms will grow in importance, as the search for digital assistant monetisation continues. Smart TVs are predicted to be significant in this, as they can both drive digital media purchases and add visual context to purchases, an element missing from voice-only commerce.
Other findings from the research suggests that even with the tech industry’s focus on smart speakers, only 12% of households worldwide will have a smart speaker by 2023. However, Juniper Research expects 72% of smartphones to use voice assistants in the same year. But smart home voice assistants encourage more consistent use and offer more direct monetisation than smartphones, which are more like to use conventional mCommerce without voice assistant involvement.
Juniper Research also found that the biggest opportunities for voice assistant monetisation are in the broader IoT space where context-dependent commerce and services can be deployed, whether through smart home devices in particular rooms, or the use of automotive voice assistants. Dedicated automotive assistant growth will be slow though, with smartphone often used for in-car connectivity, with only 27 million dedicated automotive assistants expected to see regular use by 2026.
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