Smart Speaker Market

Market Leadership - Smart Speaker Market

The smart speaker market is highly competitive, owing to the presence of global and regional market players. New product development and launch was the key strategy adopted by players to achieve growth in the smart speaker market between 2018 and 2020. Key players that have implemented these strategies are significant players in the market.

Major players in the global smart speaker market include 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).

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Top 2 players in the smart speaker market:

Amazon has done significantly well in economies such as India, the UK, and Germany. The markets in APAC and Europe are growing significantly. Consumers are attracted to new technological advancements in smart speakers and innovative products in this market. The company has opportunities to grow its business in these technologically advancing economies and can further increase its share in the smart speaker market. Amazon is ramping up efforts to expand the market for its smart speakers in Asia through the launch of new products as well as increasing tie-ups with local device makers. Since the last few years, the company has been pushing to bring Alexa voice assistant into vehicles, either through integration or through its Echo Auto Device. In January 2020, Amazon expanded its Echo Auto sales internationally. The company launched Amazon Echo Auto for the Indian market. The Amazon Echo Auto smart speaker brings the power of Alexa inside a car. The expansion of Echo Auto in the Indian market could give a big boost to Alexa’s presence in cars.

Alphabet is one of the most diversified companies, with products ranging from consumer durables to business solutions for enterprises. In the smart speaker market, the company has a strong portfolio, with Google Home product series and Google Assistant intelligent voice assistance. The company has collaborated with several companies to integrate Google Assistant into smart devices, thus increasing its market share. Alphabet is known for its continuous innovation in its products. The company has made efforts to expand its AI offerings. Google has adopted organic growth strategies to maintain its position in the smart speaker market.

Related Reports:

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

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Report Code
SE 5897
RI Published ON
6/9/2020
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