About 50 per cent of all web searches will be performed via voice commands by 2020, according to data and analytics firm comScore. But as soon as 2018, voice searches are expected to begin taking off amid the rising demands of voice-enabled devices.
Despite millions of demands for smartphones, smart speakers and other voice search capable devices, vendors have to yet to set the boundaries for this uncharted territory of mobile voice searches. The rise of voice searches is voice advertising that is starting to creep in from the background.
In 2016, Google said 20 per cent of mobile queries are voice searches. Amazon, on the other hand, is expected to generate US$10bn in additional revenue by 2020 coming from its voice-activated devices like Echo, according to investment bank RBC Capital. These figures show what is to come in the promotion of products and services.
NPR and Edison Research has found out in its study that, among the 800 smart speaker owner respondents, 57 per cent have ordered a product through their device, while 26 per cent have used the intelligent speakers to add a product to their shopping list.
Thus, experts believe voice searches will be the next playground for products and services, and with it is a new platform for advertisers. So, what are their monetization plans on the ever-rising popularity of voice searches?
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In an emailed statement to TechCrunch, Amazon did not address the question directly, but it said: "Our focus is on building the best possible experience for our customers and the rest will take care of itself..."
Jacob Davis, head of search at digital marketing agency iCrossing, told the publication that advertisers are expected to take advantage of this platform and are only waiting "when they can throw money at it".
Duane Forrester, vice president of industry insights at data management firm Yext, voice advertising can be a dangerous venture for advertisers to take on this early. He stressed that consumers may lose their trust if the voice answer is paid; thus, the credibility of the service might be put in question.
Even so, experts believe there is room for voice advertising in the future once voice searches become a trend.