Consumer spending via voice assistant (VA)-enabled smart TVs will reach nearly $500 million globally by 2023 — up from $126 million this year, according to a new forecast by Juniper Research.
Although smartphones will remain the dominant device for these purchases, smart TV will play an increasingly important role in helping to monetize digital assistants because of its ability to add visual context to drive purchases, says the report.
Even with the tech industry’s focus on smart speakers, only 12% of households worldwide will have a smart speaker by 2023, compared to Juniper’s projection of 72% of smartphones using voice assistants by then.
However, smart home voice assistants encourage more consistent use and offer more direct monetization than smartphones, which are more likely to use conventional, non-voice-assisted m-commerce.
The biggest opportunities for VA monetization are in the broader IoT space, where context-dependent commerce and services can be deployed through smart-home devices in particular rooms or through use of automotive VAs, says the report.
Still, because of smartphones’ widespread use for in-car connectivity, dedicated automotive
assistant growth will be slow, with only 27 million expected to be in regular use by 2026.
While voice assistants can be used to provide many different services in private or semi-private settings, “the increasingly inter-device nature of voice assistants will make it difficult for single-device assistants to gain traction with consumers,” says James Moar, who co-authored the report.