- Smart TVs to grow 100% every year for next five years
- Digital voice assistants to drive ‘smart’ appliance usage
- Standalone smart apps to fall in key markets from 2022
The global usage of smart digital assistants is set to gather pace over the next five years, reaching 8 billion devices with Google and Amazon established as the leaders.
The application of smart TVs is estimated to grow over 100% every year for the next five years, marking the biggest expansion of smart devices globally.
Digital voice assistants will triple in use by 2023 surging to over 8 billion devices, up from an estimated 2.5 billion at the end of 2018, according to a new report by Juniper Research.
The report highlighted that Google and Amazon are leading the surge of smart home devices with its dedicated investment in artificial intelligence (AI) capabilities to lead the market in digital voice assistants.
Juniper found the smart voice assistants adoption has been the fastest growing trend in consumer technology with the highest compound annual growth.
The fastest growing voice assistant categories over the next five years include:
- Smart TVs at 121.3%
- Smart speakers at 41.3%
- Wearables at 40.2%
Amazon’s Alexa has firmly established itself as the leader, setting the pace for the market, according to Juniper Research senior analyst and research author James Moar pointed to Chinese companies that will make inroads internationally in the future.
Several internet giants are set to launch their own hardware devices this year, starting with Chinese WeChat set to market later in 2019.
As demand for multi-platform assistants increases, standalone apps, made by independent vendors for smartphones and tablets, will decline.
Juniper expects revenues from these apps to begin to fall in key markets from 2022.
The report highlighted that voice commerce will substantially grow by 2023, reaching over $80 billion per annum, which also includes money transfer and purchasing of digital goods.
Moar said: “We expect the majority of voice commerce to be digital purchases, until digital assistants offer truly seamless cross-platform experiences.
“Connected TVs and smart displays are vital here, as they can provide a visual context that is lacking in smart speakers.”
Juniper followed the consumer and enterprise voice assistant key players including Alibaba, Amazon, Apple, Baidu, Google and IBM among others to bench march the global industry forecast.
The Amazon effect
Amazon launched its smart speaker, the Echo in 2014 leaving Apple, Facebook, Google, Samsung and Microsoft to follow releasing their own respective digital assistants across its platforms.
The company’s range of smart home devices has since exploded and it now makes internet-connected clocks, microwaves, plugs and door locks.
Amazon is positioning itself as the supplier of almost every ‘smart’ device in the home.
Continuing this trend, Amazon announced yesterday that it has agreed to buy Eero, a San Francisco-based maker of mesh-networked Wi-Fi routers.
Eero first launched in 2015 and quickly became known for its robust stability and simple to use. Amazon hardware executive Dave Limp called out in an official press release today. Neither company has disclosed the terms of the deal; Eero, to date, has raised around $90 million in venture capital funding.