Voice-assisted TV spending projected to surge to $500 million in 2023

New Ideas in MarketingEssential news for marketers, summarised by YouGov
October 12, 2021, 2:20 AM GMT+0

TiVo’s Q2 2021 Video Trends Report found that the use of TV voice search in the US and Canada surged 36%.

In 2023, voice-assisted transactions are expected to make $19.5 billion in sales globally, as consumers get acclimated to using voice assistants, according to Juniper Research. However, spending with voice-assisted TV devices is expected to grow to $500 million in 2023, compared to $126 million in 2021.

The combination of voice assistants and smart TV will drive the growth of commerce enabled by technology. 51% of US and Canadian consumers have access to TV voice search in 2021, compared to 39% in 2020, as per TiVo’s report

A third of customers use voice assistants to perform sensitive tasks like banking transactions. In addition, Leichtman Research finds that 74% of homes in the US have smart or connected TVs.

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