Smart Speaker Market with COVID-19 Impact Analysis by IVA (Alexa, Google Assistant, Siri, DuerOS, Ali Genie), Component (Hardware (Speaker Driver, Connectivity IC, Processor, Audio IC, Memory, Power IC, Microphone) and Software), Application, and Region - Global Forecast to 2025
Smart Speaker Market
Smart Speaker Market and Top Companies
- Amazon Inc. (US) − Amazon is an e-commerce and cloud computing company offering a range of products and services through its websites. The company also manufactures and sells electronic devices, including Kindle e-readers, Fire tablets, Fire TVs, and Echo. It sells Echo series products under the retail segment. The company keeps on innovating its smart speaker series. Some of the Echo products launched by the company include Echo Dot and Echo Show. The company also offers its voice assistance platform, Alexa, for smart speakers.
- Harman International (US) − Harman operates as Samsung’s subsidiary. Harman International engages in designing, manufacturing, and marketing audio and infotainment solutions for automotive, consumer, and professional markets supported by brands such as AKG Acoustics (Australia), Harman Kardon (US), Infinity (US), JBL Incorporated (US), Lexicon (US), and Mark Levinson Audio System (US). The company offers various smart speakers through its subsidiaries—Harman Kardon (US) and JBL Incorporated (US). Harman Kardon offers Harman Kardon Allure and Invoke, while JBL Incorporated offers JBL Link 10, JBL Link 20, JBL Link 300, and JBL LINK View.
- Apple Inc. (US) − Apple designs, manufactures, and sells mobile communication and media devices, personal computers, and portable digital music players. In July 2017, the company launched HomePod, a wireless speaker. HomePod is a voice control device with an array of 6 microphones. The speaker is equipped with the features of Siri with wireless access to the entire Apple Music Library.
- Sonos (US) – Sonos manufactures wireless music systems, which include speakers, home theatres, and speaker components. The company offers its products online as well as through retail stores in more than 50 countries. The company’s product line includes Internet-connected speakers and hubs that are compatible with more than 60 Internet services, such as Apple’s Beats Music, Spotify, iHeartRadio, MOG, QQ Music, Amazon Music, and Pandora.
- Google Inc. (US) – Alphabet is the parent company of Google and primarily focuses on areas such as advertising, search, operating systems & platforms, and enterprise and hardware products. Google Home is a line of smart speakers developed under the Google Nest brand. The devices enable users to speak voice commands to interact with services through Google Assistant, the company's virtual assistant. Google Home allows to listen to music, control playback of videos or photos, or receive news updates entirely by voice. Google Nest devices also have integrated support for home automation, letting users control smart home appliances with voice commands.
- Bose Corporation (US) – Bose engineers, designs, develop, researches, markets, and retails sound systems. The company offers various speakers, such as portable speakers, multiroom speakers, home theatres, and stereo speakers. It also offers speaker accessories and portable personal amplification (PA) systems. Bose offers smart speakers compatible with Siri or Google Assistant.
- Alibaba (China) – Alibaba works as an online and mobile business organization. The company provides online and mobile marketplaces in retail and wholesale trade, along with cloud computing and other services. The company offers Tmall Genie X1, an AI-enabled personal assistant smart speaker, under its retail segment. AliGenie is the AI platform powering Tmall Genie.
- Lenovo (China) – Lenovo designs, develops, manufactures, and sells PCs, tablets, computers, smartphones, workstations, servers, electronic storage devices, IT management software, and smart televisions. It offers voice-controlled Lenovo Smart Display 7, Lenovo Smart Display 8, Lenovo Smart Display 10, and smart clock in the smart speaker market. This smart speaker is integrated with Google Assistant that helps users control smart devices through voice commands. The company also offers Home Assistant Pack, a voice-activated smart assistant with a screen integrated with Amazon Alexa.
- Baidu (China) – The company provides image search, online storage, enterprise search, news, voice assistance, multimedia files, and algorithmic search on its Baidu.com website. As a result of Baidu's acquisition of Raven Tech in February 2017, Baidu launched its first smart speaker—Raven H—with voice-controlled intelligent personal assistant service, DuerOS. DuerOS is installed on smart devices (in homes and hotels), smartphones, children’s watches, and story machines. It also released four DuerOS-powered Xiaodu branded smart devices in 2018, including Xiaodu smart speaker and Xiaodu smart display, the first smart speaker in China with a display.
Smart Speaker Market and Top Intelligent Virtual Assistants
- Alexa − Alexa is a highly preferred voice assistant for smart speakers. Alexa smart speakers are offered by companies such as Onkyo (Japan), Pioneer Electronics (Japan), Sonos (US), Harman International (US), Altec Lansing (US), Lenovo (US), Invoxia (France), and Ultimate Ears (US). Alexa offered by Amazon was the first voice assistant used in Echo smart speakers. The company launched Alexa IVA smart speaker Echo in 2014. Since then, the platform is used in Amazon’s Echo device series and smart speakers offered by most companies.
- Google Assistant − Google Assistant smart speakers are offered by companies such as Onkyo (Japan), Panasonic (Japan), Sony (Japan), Harman International (US), and Altec Lansing (US). In 2016, the company launched Google Assistant IVA for Google Home speakers. Google Assistant is supported by the data generated from its web search engine. It gives contextual information and generally gives longer and informative answers. Google Assistant also works with Google’s online services and cites source websites while providing the information.
- Siri − Siri voice assistant is one of the most advanced IVA technologies offered by Apple. Consumers who own an iPhone are most comfortable with Siri-enabled smart speakers. Siri can speak more than 20 languasges with localized accents for many languages, including English, French, Arabic, Cantonese, Mandarin, Korean, and Japanese. Moreover, the increasing demand for the HomeKit platform in home automation products creates a demand for Siri-enabled smart speakers.
- Baidu − DuerOS is a conversational AI system developed by Baidu's Duer Business Unit. DuerOS is based on the same kind of conversational abilities as Amazon’s Alexa and Google Assistant. Baidu’s current smart devices and new additions all use the company’s DuerOS assistant. It is Baidu’s voice assistant. DuerOS can support a wide range of hardware, devices such as mobile phones, televisions, speakers, household appliances, automobiles, and robots.
- AliGenie − Alibaba Group Holding’s AI Labs unit in 2017 introduced AliGenie, an open development platform for voice-assistant applications for the Chinese market. AliGenie is the voice assistant, or to the human-machine interaction system, behind Tmall Genie smart speakers. The platform provides developers with functions including wake-on-voice, voice recognition, voiceprint recognition, semantic understanding, and speech synthesis to assist in the creation of new voice-based applications, which can be added to the AliGenie store.
Smart Speaker Market and Top Applications
- Smart Home – Smart home is the major application of smart speakers owing to their features and usability. Smart speakers can control smart devices with the user’s voice, thus making day-to-day tasks easy. With a voice command, the user can control all smart devices by connecting the device to the Internet. Smart speakers understand the natural way of speaking and are less complicated to operate than other smart devices, making them an easy-to-use tool for the elderly and busy people.
- Consumer − Smart speakers are increasingly adopted by the consumer owing to the convenience offered by the device. Smart speakers can control any smart devices through a smartphone and Internet connection. Further, smartphone users play a crucial role in increasing the adoption of voice-enabled apps, which, in turn, increases the demand for voice-controlled products, including smart speakers.
- Smart Office − Smart offices are getting more advanced with the increasing deployment of smart speakers. Smart speakers that make life easier and efficient for consumers in smart homes can be employed in work settings as well. Smart speakers are physically made to be compatible with office surroundings. Convenience is the key factor for the increasing demand for smart speakers in office automation. In a smart office environment, especially in customer service applications in retail and call centers, smart speakers know how the business is doing at present and help business owners make better and quick business decisions.
[136] The global smart speaker market size is expected to reach USD 15.6 billion by 2025 from USD 7.1 billion in 2020, at a CAGR of 17.1%. The growth of the smart speaker market can be attributed to the growing demand for smart speaker display, the increasing number of smart homes, rising disposable income, and the rapid proliferation of multifunctional devices.
Alexa is expected to hold a major share of the smart speaker market during the forecast period
Amazon launched the Alexa IVA smart speaker Echo in 2014. Since then, the platform is used in Amazon’s Echo device series and smart speakers offered by most companies. Alexa speaker is offered in more than 80 countries, thus covering a wide audience from which the company gathers usage data and continually improves its service. The increasing sales of electronic devices are expected to drive the growth of the segment.
The smart home segment to be the largest contributor to the smart speaker market during the forecast period
Smart home is the major application of smart speakers owing to their features and usability. Smart speakers can control smart devices with the user’s voice, thus making day-to-day tasks easy. With a voice command, the user can control all smart devices by connecting the device to the Internet. Smart speakers understand the natural way of speaking and are less complicated to operate than other smart devices. The changing lifestyles, increasing per capita income, and the inclination of smart home owners toward luxurious entertainment systems have spurred the demand for smart speakers in smart homes.
The increasing penetration of smart devices in APAC countries, along with the rising market share of Chinese players such as Baidu, Alibaba, and Xiaomi, who have launched smart speakers with local language support, is expected to fuel the demand for smart speakers in the region.
The software segment to grow at the highest CAGR during the forecast period
In the coming years, smart speakers will expand their operations. To perform these operations, more data would be sensed or processed by smart speakers. To process this large volume of data, advanced software would be needed. Hence, there would be a requirement for advanced software that can work on a complex set of databases.
North America to continue to hold the largest market share of the smart speaker market during the forecast period
North American countries such as the US, Canada, and Mexico are receptive to products enabled with advanced technologies. The penetration of smart speakers in North American countries, especially in the US, is high owing to the presence of early adopters and key smart speaker providers. The willingness of customers to accept and use new technologies has also encouraged manufacturers in the region to develop new and advanced products. Key players such as Amazon, Google, Apple, and Bose that smart speakers are based in the US, due to which most products are launched and shipped first in this region.
Key Market Players
Amazon, Inc (Amazon) (US), Apple Inc. (Apple) (US), Alphabet Inc (Alphabet) (US), Baidu, Inc (Baidu) (China), Alibaba Group (Alibaba) (China), Lenovo Group Ltd. (Lenovo) (China), and Xiaomi Inc. (Xiaomi) (China) are among the major players in the smart speaker market.
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Report Metric |
Details |
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Review period |
2017–2025 |
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Base year |
2019 |
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Forecast period |
2020–2025 |
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Forecast units |
Value (USD) in million/billion |
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Segments covered |
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Regions covered |
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Companies covered |
Amazon, Inc (Amazon) (US), Harman International (US), Apple Inc. (Apple) (US), Sonos (US), Alphabet Inc (Alphabet) (US), Baidu, Inc (Baidu) (China), Bose Corporation (Bose) (US), Sony Corporation (Sony) (Japan), Onkyo Corporation (Onkyo) (Japan), Samsung Electronics (Samsung) (South Korea), Panasonic Corporation (Panasonic) (Japan), Alibaba Group (Alibaba) (China), Altec Lansing (US), Lenovo Group Ltd. (Lenovo) (China), Xiaomi Inc. (Xiaomi) (China), SK Telecom Co., Ltd. (SK Telecom) (South Korea), Facebook (US), and LG Electronics (South Korea) |
Smart Speaker Market Segmentation:
The global smart speaker market, in this research report, was segmented on the basis of the below segments.
Smart Speaker Market by Intelligent Virtual Assistant
- Alexa
- Google Assistant
- DuerOS
- AliGenie
- Xiao AI
- Siri
- Others
Smart Speaker Market by Component
- Hardware
- Software
Smart Speaker Market by Application:
- Smart Home
- Consumer
- Smart Office
- Others
Smart Speaker Market by Region:
- North America
- Europe
- APAC
- RoW
Recent Developments
- In September 2019, Amazon introduced an all-new line-up of Echo devices to access Alexa at home with the all-new Echo, Echo Flex, Echo Dot with clock, and Echo Show 8. Echo Studio is the company’s best-sounding Echo and the first smart speaker to deliver an immersive, three-dimensional audio experience, with Dolby Atmos.
- In December 2019, Baidu launched its latest Xiaodu Smart Display X8 smart speaker for the Chinese market. The new smart home device offers an 8-inch full-view touchscreen display with 1280×800 resolution and a robust four-microphone array to facilitate far-field voice interactions. The X8 supports multiple biometric modalities, including face and gesture recognition.
Critical questions the report answers
- Where will all the developments take the industry in the mid to long term?
- Which are the different regions that are expected to drive the demand for smart speakers during the forecast period?
- Which are the key strategies adopted by leading companies in the smart speaker market?
- What are the trends prevalent in the smart speaker market?
- Which applications are expected to drive the smart speaker market in the next five years?
People Also Ask (PAA)
What is Smart Speaker?
It is a type of wireless speaker and voice command device with an intelligent virtual assistant offers its users a way to interact with the speaker and operate other smart devices such as smart thermostats, light bulbs amongst others.
How big is Smart Speaker Market?
The Smart Speaker Market is worth USD 8.4 Billion in 2019 and is expected to reach USD 15.6 Billion by 2025.
Is Smart Speaker in Demand?
Yes, Smart Speakers are in demand owing to the increasing number of smart homes, rising disposable income, growing trend of personalization, and rapid proliferation of multifunctional devices.
How fast is Smart Speaker Market Growing?
The smart speaker market is expected to grow at a CAGR of 17.1% (Units) between 2020 and 2025.
What is Smart Speaker Applications?
The Smart Speaker market applications include Smart Home, Consumer, Smart Office and Others (Automotive and Commercial). Changing lifestyles, increasing per capita income, and the inclination of smart home owners toward luxurious entertainment systems have spurred the demand for smart speakers in smart homes.
What are the Examples of Smart Speakers?
Smart Speakers can be used to switch on music, ask question about the tweather or the traffic, set alarms and reminders, make hands-free calls and control any Alexa-compatible devices including plugs, light bulbs and other smart speakers.
Who is the Leader in Smart Speaker Market?
Amazon(us) is the leader in the Smart Speaker Market. Amazon sells Echo series products under its retail segment. Some of the Echo products launched by the company include Echo Dot and Echo Show.
What is the future of Smart Speaker?
The smart office application is expected to grow at a high CAGR during the forecast period. In a smart office environment, smart speakers can reserve meeting rooms, extend their meetings, or set reminders for conference calls through voice commands to smart speakers.
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 16)
1.1 STUDY OBJECTIVES
1.2 DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 YEARS CONSIDERED
1.4 CURRENCY
1.5 LIMITATIONS
1.6 DISCLAIMER
1.7 MARKET STAKEHOLDERS
2 RESEARCH METHODOLOGY (Page No. - 19)
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Major secondary sources
2.1.1.2 Secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key industry insights
2.1.2.2 Primary interviews with experts
2.1.2.3 Breakdown of primaries
2.1.2.4 Key data from primary sources
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach for capturing the market size using the bottom-up analysis (demand side)
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach for capturing the market size using the top-down analysis (supply side)
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
3 EXECUTIVE SUMMARY (Page No. - 27)
4 PREMIUM INSIGHTS (Page No. - 32)
4.1 BRIEF OVERVIEW OF THE SMART SPEAKER MARKET DURING THE FORECAST PERIOD
4.2 SMART SPEAKER MARKET FOR ALEXA, BY APPLICATION
4.3 MARKET FOR CONSUMER APPLICATION, BY REGION
4.4 MARKET FOR SMART HOME APPLICATION, BY INTELLIGENT VIRTUAL ASSISTANT
4.5 MARKET FOR HARDWARE, BY COMPONENT
4.6 APAC MARKET, BY COUNTRY AND APPLICATION
5 MARKET OVERVIEW (Page No. - 35)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Increasing number of smart homes
5.2.1.2 Growing trend of smart speakers with display
5.2.1.3 Rising disposable income
5.2.1.4 Rapid proliferation of multifunctional devices
5.2.1.5 Growing trend of personalization
5.2.2 RESTRAINTS
5.2.2.1 Issues related to connectivity range, compatibility, and power
5.2.3 OPPORTUNITIES
5.2.3.1 Increasing consumer preference for technologically advanced products
5.2.3.2 Increasing focus of companies on enhancing customer experience
5.2.4 CHALLENGES
5.2.4.1 High-security risk
5.2.4.2 Availability of substitutes
5.3 VALUE CHAIN ANALYSIS
5.4 IMPACT OF COVID-19 ON THE SMART SPEAKER MARKET
6 SMART SPEAKER MARKET, BY INTELLIGENT VIRTUAL ASSISTANT (Page No. - 43)
6.1 INTRODUCTION
6.2 ALEXA
6.2.1 OFFERS MORE FEATURES THAN OTHER IVA PLATFORMS
6.3 GOOGLE ASSISTANT
6.3.1 GOOGLE ASSISTANT IS SUPPORTED BY THE DATA GENERATED FROM ITS WEB SEARCH ENGINE
6.4 SIRI
6.4.1 INCREASING DEMAND FOR THE HOMEKIT PLATFORM IN HOME AUTOMATION PRODUCTS CREATES A DEMAND FOR SIRI-ENABLED SMART SPEAKERS
6.5 DUEROS
6.5.1 DUEROS’ INSTALLATION BASE PASSED 400 MILLION AS VOICE QUERIES TOPPED 3.6 BILLION
6.6 ALIGENIE
6.6.1 ALIGENIE IS INTEGRATED WITH MORE THAN 660 IOT PLATFORMS
6.7 XIAO AI
6.7.1 XIAO AI POWERING XIAOMI SMART SPEAKERS, SMARTPHONES, AND SMART HOME PRODUCTS FOR THE CHINESE MARKET
6.8 OTHERS
7 SMART SPEAKER MARKET, BY COMPONENT (Page No. - 53)
7.1 INTRODUCTION
7.2 HARDWARE
7.2.1 HARDWARE CONSTITUTES A MAJOR PORTION OF A SMART SPEAKER
7.2.2 PROCESSOR
7.2.3 MEMORY
7.2.4 POWER IC
7.2.5 CONNECTIVITY IC
7.2.6 MICROPHONE
7.2.7 SPEAKER DRIVER
7.2.8 AUDIO IC
7.2.9 OTHERS
7.3 SOFTWARE
7.3.1 SOFTWARE EXPECTED TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD
8 SMART SPEAKER MARKET, BY APPLICATION (Page No. - 58)
8.1 INTRODUCTION
8.2 SMART HOME
8.2.1 SMART SPEAKER MARKET FOR SMART HOME WILL CONTINUE TO HOLD THE LARGEST MARKET SIZE DURING THE FORECAST PERIOD
8.3 CONSUMER
8.3.1 TECHNOLOGY COMPANIES ARE COLLABORATING WITH THIRD-PARTY VOICE APP DEVELOPERS TO INCREASE THE ADOPTION OF VOICE-ENABLED SMART DEVICES IN CONSUMER APPLICATIONS
8.4 SMART OFFICE
8.4.1 CONVENIENCE IS THE KEY FACTOR FOR THE INCREASING DEMAND FOR SMART SPEAKERS IN OFFICE AUTOMATION
8.5 OTHERS
9 GEOGRAPHIC ANALYSIS (Page No. - 68)
9.1 INTRODUCTION
9.2 NORTH AMERICA
9.2.1 US
9.2.1.1 High adoption of smart devices with advanced technologies, such as IoT and AI, has pushed sales figures for smart speakers in the US
9.2.2 CANADA
9.2.2.1 Smart Office application presents opportunities for smart speakers
9.2.3 MEXICO
9.2.3.1 Smart home and automotive applications present opportunities for the growth of the smart speaker market
9.3 EUROPE
9.3.1 UK
9.3.1.1 Smart home applications drive the demand for smart speakers
9.3.2 GERMANY
9.3.2.1 High penetration of smart devices in the residential market
9.3.3 FRANCE
9.3.3.1 Increasing demand for smart audio products driving the smart speaker market
9.3.4 REST OF EUROPE
9.4 APAC
9.4.1 CHINA
9.4.1.1 Increasing penetration of Chinese players in the smart speaker industry
9.4.2 JAPAN
9.4.2.1 Huge demand for consumer electronics has boosted the demand for smart speakers
9.4.3 SOUTH KOREA
9.4.3.1 Continued innovation across different Korean AI assistant platforms
9.4.4 INDIA
9.4.4.1 Increasing Internet penetration and consumer spending power will likely drive the market
9.4.5 REST OF APAC
9.5 REST OF THE WORLD
9.5.1 MIDDLE EAST & AFRICA
9.5.1.1 Increasing penetration of smart devices in the Middle Eastern countries is expected to fuel the demand for smart speakers in the region
9.5.2 SOUTH AMERICA
9.5.2.1 Smart home and consumer applications will propel the growth of smart speakers in South America
10 COMPETITIVE LANDSCAPE (Page No. - 91)
10.1 INTRODUCTION
10.2 SMART SPEAKER MARKET RANKING ANALYSIS
10.3 COMPETITIVE SCENARIO
10.3.1 PRODUCT LAUNCHES AND NEW PRODUCT DEVELOPMENTS
10.3.2 PARTNERSHIPS, AGREEMENTS, AND COLLABORATIONS
10.3.3 EXPANSIONS
10.4 COMPETITIVE LEADERSHIP MAPPING
10.4.1 VISIONARY LEADERS
10.4.2 INNOVATORS
10.4.3 DYNAMIC DIFFERENTIATORS
10.4.4 EMERGING COMPANIES
11 COMPANY PROFILES (Page No. - 97)
11.1 KEY PLAYERS
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
11.1.1 AMAZON
11.1.2 ALPHABET
11.1.3 BAIDU
11.1.4 ALIBABA
11.1.5 XIAOMI
11.1.6 HARMAN INTERNATIONAL
11.1.7 APPLE
11.1.8 SONOS
11.1.9 BOSE
11.1.10 LENOVO
* Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.
11.2 OTHER KEY PLAYERS
11.2.1 FACEBOOK
11.2.2 SAMSUNG
11.2.3 SONY
11.2.4 ONKYO CORPORATION
11.2.5 SK TELECOM
11.2.6 LG ELECTRONICS
11.2.7 PANASONIC
11.2.8 ALTEC LANSING
11.2.9 LIBRATONE
11.2.10 MOBVOI
12 APPENDIX (Page No. - 128)
12.1 INSIGHTS FROM INDUSTRY EXPERTS
12.2 DISCUSSION GUIDE
12.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
12.4 AVAILABLE CUSTOMIZATIONS
12.5 RELATED REPORTS
12.6 AUTHOR DETAILS
LIST OF TABLES (74 TABLES)
TABLE 1 SMART SPEAKER MARKET, BY INTELLIGENT VIRTUAL ASSISTANT, 2017–2025 (USD MILLION)
TABLE 2 MARKET, BY INTELLIGENT VIRTUAL ASSISTANT, 2017–2025 (MILLION UNITS)
TABLE 3 MARKET FOR ALEXA, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 4 MARKET FOR ALEXA, BY APPLICATION, 2017–2025 (MILLION UNITS)
TABLE 5 MARKET FOR GOOGLE ASSISTANT, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 6 MARKET FOR GOOGLE ASSISTANT, BY APPLICATION, 2017–2025 (MILLION UNITS)
TABLE 7 MARKET FOR SIRI, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 8 MARKET FOR SIRI, BY APPLICATION, 2017–2025 (MILLION UNITS)
TABLE 9 MARKET FOR DUEROS, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 10 MARKET FOR DUEROS, BY APPLICATION, 2017–2025 (MILLION UNITS)
TABLE 11 MARKET FOR ALIGENIE, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 12 MARKET FOR ALIGENIE, BY APPLICATION, 2017–2025 (MILLION UNITS)
TABLE 13 MARKET FOR XIAO AI, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 14 MARKET FOR XIAO AI, BY APPLICATION, 2017–2025 (MILLION UNITS)
TABLE 15 MARKET FOR OTHERS, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 16 MARKET FOR OTHERS, BY APPLICATION, 2017–2025 (MILLION UNITS)
TABLE 17 MARKET, BY COMPONENT, 2017–2025 (USD MILLION)
TABLE 18 MARKET FOR HARDWARE, BY COMPONENT, 2017–2025 (USD MILLION)
TABLE 19 MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 20 MARKET, BY APPLICATION, 2017–2025 (MILLION UNITS)
TABLE 21 MARKET FOR SMART HOME, BY REGION, 2017–2025 (USD MILLION)
TABLE 22 MARKET FOR SMART HOME, BY INTELLIGENT VIRTUAL ASSISTANT, 2017–2025 (USD MILLION)
TABLE 23 MARKET FOR SMART HOME, BY INTELLIGENT VIRTUAL ASSISTANT, 2017–2025 (MILLION UNITS)
TABLE 24 MARKET FOR CONSUMER, BY REGION, 2017–2025 (USD MILLION)
TABLE 25 MARKET FOR CONSUMER, BY INTELLIGENT VIRTUAL ASSISTANT, 2017–2025 (USD MILLION)
TABLE 26 MARKET FOR CONSUMER, BY INTELLIGENT VIRTUAL ASSISTANT, 2017–2025 (MILLION UNITS)
TABLE 27 MARKET FOR SMART OFFICE, BY REGION, 2017–2025 (USD MILLION)
TABLE 28 MARKET FOR SMART OFFICE, BY INTELLIGENT VIRTUAL ASSISTANT, 2017–2025 (USD MILLION)
TABLE 29 MARKET FOR SMART OFFICE, BY INTELLIGENT VIRTUAL ASSISTANT, 2017–2025 (MILLION UNITS)
TABLE 30 MARKET FOR OTHER APPLICATIONS, BY REGION, 2017–2025 (USD MILLION)
TABLE 31 MARKET FOR OTHER APPLICATIONS, BY INTELLIGENT VIRTUAL ASSISTANT, 2017–2025 (USD MILLION)
TABLE 32 MARKET FOR OTHER APPLICATIONS, BY INTELLIGENT VIRTUAL ASSISTANT, 2017–2025 (MILLION UNITS)
TABLE 33 MARKET, BY REGION, 2017–2025 (USD MILLION)
TABLE 34 NORTH AMERICA: SMART SPEAKER MARKET, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 35 NORTH AMERICA: MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 36 NORTH AMERICA: MARKET FOR SMART HOME, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 37 NORTH AMERICA: MARKET FOR CONSUMER, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 38 NORTH AMERICA: MARKET FOR SMART OFFICE, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 39 NORTH AMERICA: MARKET FOR OTHER APPLICATIONS, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 40 US: SMART SPEAKER MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 41 CANADA: MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 42 MEXICO: MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 43 EUROPE: MARKET, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 44 EUROPE: MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 45 EUROPE: MARKET FOR SMART HOME, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 46 EUROPE: MARKET FOR CONSUMER, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 47 EUROPE: MARKET FOR SMART OFFICE, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 48 EUROPE: MARKET FOR OTHER APPLICATIONS, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 49 UK: SMART SPEAKER MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 50 GERMANY: MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 51 FRANCE: MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 52 REST OF EUROPE: MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 53 APAC: SMART SPEAKER MARKET, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 54 APAC: MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 55 APAC: MARKET FOR SMART HOME, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 56 APAC: MARKET FOR CONSUMER, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 57 APAC: MARKET FOR SMART OFFICE, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 58 APAC: MARKET FOR OTHER APPLICATIONS, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 59 CHINA: SMART SPEAKER MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 60 JAPAN: MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 61 SOUTH KOREA: MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 62 INDIA: SMART SPEAKER MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 63 REST OF APAC: MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 64 ROW: MARKET, BY REGION, 2017–2025 (USD MILLION)
TABLE 65 ROW: MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 66 ROW: MARKET FOR SMART HOME, BY REGION, 2017–2025 (USD MILLION)
TABLE 67 ROW: SMART SPEAKER MARKET FOR CONSUMER, BY REGION, 2017–2025 (USD MILLION)
TABLE 68 ROW: MARKET FOR SMART OFFICE, BY REGION, 2017–2025 (USD MILLION)
TABLE 69 ROW: MARKET FOR OTHER APPLICATIONS, BY REGION, 2017–2025 (USD MILLION)
TABLE 70 MIDDLE EAST & AFRICA: MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 71 SOUTH AMERICA: MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 72 PRODUCT LAUNCHES AND NEW PRODUCT DEVELOPMENTS (2018–2020)
TABLE 73 PARTNERSHIPS, AGREEMENTS, AND COLLABORATIONS (2018–2020)
TABLE 74 EXPANSIONS (2018–2020)
LIST OF FIGURES (34 FIGURES)
FIGURE 1 SMART SPEAKER MARKET: RESEARCH DESIGN
FIGURE 2 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
FIGURE 4 DATA TRIANGULATION
FIGURE 5 GLOBAL SMART SPEAKER MARKET BETWEEN 2017 AND 2025
FIGURE 6 MARKET FOR ALEXA EXPECTED TO REGISTER THE LARGEST SHIPMENT DURING THE FORECAST PERIOD
FIGURE 7 SMART HOME APPLICATION TO HOLD THE LARGEST MARKET SIZE FOR SMART SPEAKER BY 2025
FIGURE 8 MARKET FOR SOFTWARE TO GROW AT A HIGHER CAGR BETWEEN 2020 AND 2025
FIGURE 9 NORTH AMERICA TO HOLD THE LARGEST SHARE OF THE SMART SPEAKER MARKET IN 2020
FIGURE 10 INCREASE IN THE NUMBER OF SMART HOMES DRIVES THE SMART SPEAKER MARKET
FIGURE 11 SMART HOME TO HOLD THE LARGEST MARKET SIZE FOR SMART SPEAKER FOR ALEXA BY 2025
FIGURE 12 NORTH AMERICA TO HOLD THE LARGEST SHARE OF THE SMART SPEAKER MARKET FOR CONSUMER APPLICATION BETWEEN 2020 AND 2025
FIGURE 13 GOOGLE ASSISTANT TO HOLD THE LARGEST MARKET SIZE BETWEEN 2020 AND 2025
FIGURE 14 SPEAKER DRIVER TO HOLD THE LARGEST MARKET SIZE FOR SMART SPEAKER FOR HARDWARE BETWEEN 2020 AND 2025
FIGURE 15 CHINA HELD THE LARGEST MARKET SHARE FOR SMART SPEAKER IN APAC IN 2019
FIGURE 16 GROWING DEMAND FOR IOT AND AI TECHNOLOGIES IN VARIOUS APPLICATIONS DRIVES THE SMART SPEAKER MARKET GROWTH
FIGURE 17 INSTALLATION OF CONNECTED DEVICES IN SMART HOMES WITHIN SMART CITIES
FIGURE 18 CONCEPTUAL FRAMEWORK ON CONSUMER ACCEPTANCE OF NEW TECHNOLOGIES
FIGURE 19 VALUE CHAIN: SMART SPEAKER MARKET, 2019
FIGURE 20 GEOGRAPHIC SNAPSHOT OF THE SMART SPEAKER MARKET (CAGR, 2020-2025)
FIGURE 21 NORTH AMERICA: MARKET SNAPSHOT
FIGURE 22 EUROPE: MARKET SNAPSHOT
FIGURE 23 APAC: MARKET SNAPSHOT
FIGURE 24 PRODUCT LAUNCHES ARE THE KEY STRATEGIES ADOPTED BY PLAYERS IN THE MARKET (2018–2020)
FIGURE 25 RANKING OF TOP 5 PLAYERS IN THE SMART SPEAKER MARKET (2019)
FIGURE 26 SMART SPEAKER MARKET (GLOBAL): COMPETITIVE LEADERSHIP MAPPING, 2019
FIGURE 27 AMAZON: COMPANY SNAPSHOT
FIGURE 28 ALPHABET: COMPANY SNAPSHOT
FIGURE 29 BAIDU: COMPANY SNAPSHOT
FIGURE 30 ALIBABA: COMPANY SNAPSHOT
FIGURE 31 XIAOMI: COMPANY SNAPSHOT
FIGURE 32 APPLE: COMPANY SNAPSHOT
FIGURE 33 SONOS: COMPANY SNAPSHOT
FIGURE 34 LENOVO: COMPANY SNAPSHOT
This study involved four major activities for estimating the current market size of the smart speaker market. Exhaustive secondary research was conducted to collect information on the market, as well as its peer and parent markets. The next step involved the validation of these findings, assumptions, and sizing with industry experts across the value chain, i.e., through primary research. Both top-down and bottom-up approaches were employed to estimate the overall market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources were referred to for identifying and collecting information important for this study. These secondary sources include the Wireless Speaker and Audio Association (WiSA), the Consumer Technology Associations (CTA), Smart Homes & Building Association (SH&BA), journals, press releases and financials of companies, white papers and certified publications, and articles from recognized authors, directories, and databases.
Primary Research
In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information important for this report. Primary sources from the supply side include industry experts such as CEOs, VPs, marketing directors, technology and innovation directors, and related executives from key companies and organizations operating in the smart speaker market. After the complete market engineering (including calculations regarding market statistics, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information, as well as verify and validate the critical numbers arrived at.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In the complete market engineering process, both top-down and bottom-up approaches were implemented, along with several data triangulation methods, to estimate and validate the size of the smart speaker market and other dependent submarkets listed in this report.
- Key players in the industry and markets were identified through extensive secondary research.
- The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the global smart speaker market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, market breakdown and data triangulation procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends related to different verticals, identified from both demand and supply sides. Along with this, the market size was validated using both top-down and bottom-up approaches.
The following are the major objectives of the study:
- To define, describe, and forecast the overall smart speaker market, in terms of value and volume, segmented on the basis of intelligent virtual assistants and applications
- To define, describe, and forecast the overall smart speaker market, in terms of value, segmented on the basis of components
- To forecast the market size for various segments with regard to four main regions: North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
- To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the smart speaker market
- To provide the value chain analysis pertaining to the smart speaker market
- To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the total market
- To analyze opportunities in the overall smart speaker market for stakeholders by identifying the high-growth segments
- To profile key players and comprehensively analyze their market position in terms of ranking and core competencies, and provide details of the competitive landscape for the smart speaker market leaders
- To analyze competitive developments such as contracts, mergers and acquisitions, product developments, and research and development (R&D) in the overall smart speaker market
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the company's specific needs. The following customization options are available for the smart speaker market report:
- Market size for 2022 and 2024 for all the covered segments
- Detailed analysis and profiling of additional market players (up to 5)
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Smart Speaker Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
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Growth opportunities and latent adjacency in Smart Speaker Market