Voice assistant use is strong—revenue potential, not so much

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Google Assistant is the most popular voice assistant in the US, followed by Apple’s Siri and Amazon’s Alexa, per our estimates. Come 2024, 88.8 million people will use Google Assistant, 84.2 million will use Siri, and 75.6 million will use Alexa.

Beyond the chart: Last month, Amazon announced major layoffs in its voice assistant unit. Despite Alexa’s popularity, monetization has been a challenge. It’s among the products set to lose Amazon $10 billion altogether this year, Insider reports.

One factor is that US consumers aren’t ready to spend money this way. We forecast only about 13% of those ages 14 and older will shop via smart speaker by year-end, and that share will barely rise over the next four years. When we surveyed US adults in October, 54% had no experience with or interest in shopping by voice command.

More like this:

• Report: Top 8 Trends to Watch for 2023
• Article: Amazon plans 10,000 job cuts in retail, devices, and HR
• Article: How big is the voice assistant market

Methodology: Estimates are based on the analysis of survey and traffic data from research firms and regulatory agencies, sales projections, historical trends, company-specific data, and demographic and socioeconomic factors.