State of the Market : The Rise of Voice

With the rise of voice technology and thanks to players such as Alexa and Google Home, people are embracing a new way of engaging with the things around them. According to Smart Audio Report from NPR and Edison Research, approximately 18% of people living in America owned a smart speaker in July 2018, or roughly 43 million people. That is up from 16%, or 39 million people, in January.

A study done by Parks Associates estimates that 55% of U.S. broadband households will have a smart speaker with a voice-based personal assistant by 2021.

55% of U.S. broadband households will have a smart speaker with a voice-based personal assistant by 2021.

Leveraging an intuitive form of communication, voice assistants create a compelling level of interactivity between consumers and brands. This new way of interaction enables brands to offer new services and establish a deeper relationship with consumers.

One can ask with the current state of the market and the players involved, is brand loyalty at risk? Stay tuned  as we explore this further.