A smart speaker forecast from Juniper Research calls for the devices to be in 55% of U.S. households – 70 million households – by 2022. The category includes devices such as the Amazon Echo, Google Home and Sonos One. More than 175 million devices will be in use, researchers said.
Smart Speaker Forecast
That upward trend is part of the growth of voice assistant devices, according to “Digital Voice Assistants: Platforms, Revenues & Opportunities 2017-2022.” The firm found that 870 million smartphones, tablets, PCs, speakers, connected TVs, cars and wearables will have such capabilities by 2022. That’s an increase of more than 95% compared to the 450 million devices outfitted in this manner this year. Juniper found that voice assistants will be used most on smartphones. The total will be more than 5 billion globally by 2022.
Advertising will generate $19 billion by 2022 and is in Juniper’s opinion the biggest revenue opportunity for voice assistants. This may not be easy for the people in that sector, however. “Voice-based interaction presents less options than other forms of advertising, meaning less adverts are possible”, research author James Moar said in a press release. “Not all voice interactions are product searches, meaning advertisers will need to adjust their strategies to build a brand’s voice strategy around information provision as well as sales.”
Juniper found an interesting trend: People are putting multiple assistants – such as, for instance, Google Assistant and Cortana – on the same device. To date, doing this leads to a cumbersome experience. Juniper believes that hardware and software vendors must make this experience smoother and more intuitive for users.
Juniper is not the only firm that sees the value of voice assistants. Gartner, in a study released in August, focused on wireless speakers outfitted with virtual personal assistants. Juniper expects this category to grow from $720 million last year to $3.52 billion in 2021. The top sub-category during the period will be healthcare.