The Growing Popularity and Adoption of Voice Search

The Growing Popularity and Adoption of Voice Search

The various statistics regarding the growing popularity and adoption of voice search indicate that the given statements still hold true. Voice search statistics reveal that every month there are one billion searches made by voice, with around 32% of consumers preferring voice search to manually searching a query. We have provided below a detailed overview of the various data points and high-level predictions regarding the future of voice search.

Current Status & Data on the Future of Voice Search

  • According to the data from Statista, nearly 3.25 billion people currently use voice-activated search and assistants worldwide. This aggregates to nearly 50% of the total world population. As per research reports, this number is likely to reach 4 billion in 2020, 5 billion by 2021, 6.4 billion by 2022, and 8 billion by 2023.
  • In the US alone, nearly 111.8 million people are currently using voice search features, and this has increased by 9.5% from the previous year. This implies that nearly 40% of all internet users in the US and a third (33%) of its total population are users of voice search. The US voice search market is expected to continue growing at a rate of 9.7% to reach 122.7 million users by 2021.
  • Additionally, as per Statista, 31% of smartphone users worldwide currently use voice search at least once a week. The growing trend of voice search is further corroborated by the fact that 72% of people who currently use voice search devices regard them as an integral part of their lives. Also, 61% of 25-64 years old and 71% of wearable device owners predict that they will perform more voice searches in the future.
  • As per Gartner, 25% of digital workers will use virtual employee assistants, with voice search functionality by 2021. This prediction has sharply increased from merely 2% in 2019. The data from Google highlights that nearly 27% of the online global population is currently using voice search on mobile. Also, another Gartner study predicts that almost 30% of all browsing sessions will include a voice search by the end of 2020. According to Purna Virji, the Senior Manager of Global Engagement at Microsoft, nearly 25% of searches on the Windows 10 taskbar are voice-based.
  • According to the voice search statistics from Mobile Marketer, nearly 55% of the teenagers are currently using voice search daily. Additionally, 56% of the adults feel themselves to be tech-savvy by using voice search mobile and speaker functions. As per a PwC study, almost 93% of consumers are satisfied with their voice assistants and are likely to continue using them in the future. Further, as per GeoMarketing, 65% of people who own an Amazon Echo or Google Home can’t imagine going back to the days before they had a smart speaker because smart speakers are no more just devices, but a part of lifestyle for them now.
  • Voice search trends in 2020 accentuate that more than 50% of smart speaker “users prefer finding information about products with the help of a search assistant. It’s also popular to directly ask questions and ask for directions from the smart devices.” According to Financesonline.com, the sales of voice-activated speakers are likely to surpass 25.6 million by the end of 2020.
  • As per Global Market Insights, global smart speaker sales are likely to surpass $30 billion by 2024, growing at a CAGR of 30% over the 2018-2024 period. Smart speakers are soon likely to be among the top-selling consumer electronic products, with 55% of households expected to own smart speaker devices by 2022. This represents a 42% jump from current household ownership numbers. Also, Global Web Index data highlights that 34% of people who do not own a voice assistant are interested in purchasing one. These late adopters are likely to underpin the growth of the smart speaker and voice search market.
  • As per Quoracreative, currently, grocery shopping accounts for more than 20% of voice-based orders. As per Walkersands.com, nearly 19% of smart speaker owners use their virtual assistants such as Amazon Echo for online shopping, while 33% of them plan to do the same in the coming future. Also, according to Searchengineland, 48% of consumers are using voice technology for general search queries, such as looking for recipes online. The voice-based shopping is expected to jump from $2 billion in 2018 to $40 billion by 2022.
  • According to the data from OC&C Strategy Consultants, voice commerce sales in the US are predicted to grow from $1.8 billion in 2017 to $40 billion by 2022. During the same period, voice commerce sales in the UK are predicted to increase from merely $0.2 billion to $5 billion. Further, as per voice search statistics, Google Assistant has greatly extended its global reach with more than 400 million devices, making its voice assistant installed base the largest on the planet. This underlines the growing popularity of voice search.

High-Level Predictions About the Future of Voice Search

1) Voice Search Market To Reach $26.8 billion by 2025

  • As per a report by GlobalNewsWire, the speech and voice recognition market is expected to grow at a CAGR of 17.2% from 2019 to 2025 to reach $26.8 billion by 2025. A report by Positive News Trends estimates a CAGR of 39% for the voice search market over the 2019-2025 period.
  • The primary factors that are likely to drive the voice search market through 2025 include “rising acceptance of advanced technology together with increasing consumer demand for smart devices, a growing sense of personal data safety and security, and increasing usage of voice-enabled payments and shopping by retailers. Also, the consistent proliferation of advanced technologies, such as artificial intelligence and machine learning, speedy expansion of the smart devices market, and increasing willingness to employ voice assistants at websites or physical shops” is likely to boost the adoption of voice-enabled devices.”
  • In terms of geography, the growth in the voice search market is likely to be led by emerging economies such as Asia-Pacific and Latin America. Asia-Pacific region, in particular, is expected to witness the fastest CAGR over the 2019-2025 period.
  • According to a report by Businesswire, in terms of technology, the Artificial intelligence (AI) segment is estimated to command the largest share of the overall speech and voice recognition market during the 2019-2025 period. This is primarily “owing to increasing interaction with digital assistants through voice on smart home, smart speaker, voice biometric authentication, and autonomous and connected cars.”
  • In terms of the end-user industry, the automotive sector is expected to hold the largest share of the overall speech and voice recognition market through 2025, owing to the increasing integration of these technologies in in-car infotainment systems and the growing use of voice-activated devices or applications in connected cars.

2) Smart Speakers Will Drive Voice Search Adoption

  • The wide-scale adoption of smart speakers worldwide is likely to drive voice search growth in the future. Smart speakers are the number one way in which voice search is being used currently. As per a report by Grandview Research, the global smart speakers market size is expected to reach $39.3 billion by 2025, growing at a 38.7% CAGR over the 2019-2025 period.
  • Smart speakers are expected to be the fastest-growing products among other smart devices included in the consumer electronics portfolio. As per the data from Loup Ventures, the global smart speaker sales (excluding China) are likely to triple by 2025. The sales are estimated to increase from 100.9 million units in 2020 to 291 million units by 2025.
  • The primary factors that are expected to drive the usage of smart speakers in voice search through 2025 include recent technological advancements such as Echo Look and Google Assistant Smart Displays, increasing penetration of broadband services, and growing integration of AI technologies.
  • By 2025, Google Home is expected to overtake Amazon and have the largest market share (48.1%) of the global smart speakers market for voice search, followed by Amazon Echo (44.7%), Apple HomePod (2.1%), and Others (2.1%). In 2018, Amazon Echo had a 61.5% market share, while Google Home had a 24% share. However, in 2025, Amazon is still likely to lead Google in terms of total devices sold. It is expected to sell 640 million devices as compared to 545 million sold by Google.
  • The growth in the smart speaker market is increasing at a faster rate than that of other smart home devices, which corroborates that people trust the technology and find it easy to adopt. As per data from Statista, the penetration rate of smart speakers is estimated to increase from 35% of U.S. households in 2019 to around 75% of households by 2025.

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