The growing popularity of smart speakers like Amazon Echo and Google Home will lead to an explosion in voice-based shopping, according to a new market research report from OC&C Strategy Consultants out this week. The firm is bullishly predicting that voice shopping will grow to a whopping $40 billion-plus in 2022, up from $2 billion today across the U.S. and the U.K.
This sizable increase will be driven by Amazon’s smart speaker sales, in particular, the report said.
This forecast far exceeds earlier estimates of voice shopping revenues in the years ahead. While not an exact comparison, RBC Capital Markets recently predicted Amazon would generate $10 to $11 billion in sales from Alexa devices – including device sales themselves and voice shopping – by the year 2020.