Smart Speaker Market by IVA (Alexa, Google Assistant, Siri, Cortana), Component (Hardware (Speaker Driver, Connectivity IC, Processor, Audio IC, Memory, Power IC, Microphone,) and Software), Application, and Geography - Global Forecast to 2023

  • ID: 4453218
  • Report
  • Region: Global
  • 153 Pages
  • Markets and Markets
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The Smart Speaker Market Was Valued at USD 2.68 Billion in 2018 and is Expected to Be Worth USD 11.79 Billion By 2023, Growing at a CAGR of 34.44% Between 2018 and 2023.

FEATURED COMPANIES

  • Alibaba
  • Anker
  • Bose
  • Invoxia
  • Mobvoi
  • SK Telecom
  • MORE

“Smart speaker market projected to grow at a CAGR of 34.44% during forecast period”

According to the new market research report, the smart speaker market was valued at USD 2.68 billion in 2018 and is expected to be worth USD 11.79 billion by 2023, growing at a CAGR of 34.44% between 2018 and 2023. The growth of this market can be attributed to rapid proliferation of multifunctional devices, growing trend of personalization, rising disposable income, and increasing number of smart homes. However, issues related to connectivity range, compatibility, and power restrain the growth of the smart speaker market.

“Smart speaker market for Siri to grow at highest CAGR between 2018 and 2023”

This report covers the following intelligent virtual assistants (IVAs): Alexa, Google Assistant, Siri, Cortana, and others (Xiaowei, DuerOS, Bixby, and AliGenie). The market for Siri is expected to grow at the highest CAGR between 2018 and 2023. This growth can be attributed to Apple’s established market for its smart devices. Siri’s main advantage over other IVAs is its virtual surround sound technology and deep integration with Apple’s product line. The company’s strong brand and consumer base are expected to fuel the market for Siri-enabled smart speakers.

“Smart home application held largest share of smart speaker market in 2017”

This report has been segmented on the basis of applications into smart home, smart office, consumer, and others (commercial and automotive). Smart home held the largest market share in 2017 owing to changing lifestyle, increasing per capita income, and the inclination of smart home owners toward luxurious entertainment systems.

“Smart speaker market for software to grow at higher CAGR between 2018 and 2023”

This report has been segmented on the basis of components into hardware and software. IVA platform in a smart speaker compliments hardware by storing and recalling spatial data and allows live data streaming rather than static data. These functions require software with high computing and functionality, which would require advanced software.

“Smart speaker market in RoW expected to grow at highest CAGR between 2018 and 2023”

This report covers the following regions: North America, Europe, APAC, and RoW. The market in RoW is expected to grow at the highest CAGR between 2018 and 2023. The Middle East accounts for a substantial share of the smart speaker market in RoW. People in the Middle Eastern countries, especially the UAE and Saudi Arabia, are among the early adopters of smart devices that are convenient and easy to use, thus fueling the demand for smart speakers in RoW.

Breakdown Of Profiles Of Primary Participants

  • By Company Type: Tier 1-55%, Tier 2-25%, and Tier 3-20%
  • By Designation: Directors-50%, Managers-20%, Vice Presidents-25%, and Others-5%
  • By Region: North America-40%, APAC-15%, Europe-35%, and RoW-10%

Companies profiled in the report are Amazon (US), Harman International (US), Apple (US), Sonos (US), Alphabet (US), Bose (US), Sony (Japan), Onkyo (Japan), Panasonic (Japan), Alibaba (China), Pioneer (Japan), Altec Lansing (US), Lenovo (US), Xioami (China), and SK Telecom (South Korea). This report also covers the following key innovators: Invoxia (France), Avnera (US), Fabriq (US), D&M Holdings (Japan), and Anker (US).

Research Coverage

Smart speakers are mainly used in smart home, smart office, consumer, commercial, and automotive applications. On the basis of components, this market has been segmented into hardware and software. This report also covers the following IVAs: Alexa, Google Assistant, Siri, Cortana, and others. The market is divided on the basis of regions into North America, Europe, APAC, and RoW.

Reasons to Buy the Report

  • This report includes the market statistics pertaining to IVA, application, component, and region, along with their respective revenues.
  • The value chain analysis is provided with an in-depth insight into the smart speaker market.
  • Major drivers, restraints, challenges, and opportunities pertaining to the smart speaker market are detailed in this report.
  • Illustrative segmentation, analysis, and forecast for the smart speaker market based on application, IVA, component, and geography are conducted to provide an overall view of the smart speaker market.
  • A detailed competitive landscape is provided for the top 5 companies, including their revenues.
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FEATURED COMPANIES

  • Alibaba
  • Anker
  • Bose
  • Invoxia
  • Mobvoi
  • SK Telecom
  • MORE

1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Years Considered for Study
1.4 Currency
1.5 Limitations
1.6 Disclaimer
1.7 Market Stakeholders

2 Research Methodology
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 Secondary and Primary Research
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Market Breakdown and Data Triangulation
2.5 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Smart Speaker Market During the Forecasted Period
4.2 Smart Speaker Market for Alexa, By Application
4.3 Smart Speaker Market for Consumer Application, By Region
4.4 Smart Speaker Market for Smart Home Application, By IVA
4.5 North American Smart Speaker Market, By Country
4.6 Smart Speaker Market for Hardware, By Component

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Number of Smart Homes
5.2.1.2 Rising Disposable Income
5.2.1.3 Rapid Proliferation of Multifunctional Devices
5.2.1.4 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 Substitute
5.3 Value Chain Analysis

6 Smart Speaker Market, By Intelligent Virtual Assistant
6.1 Introduction
6.2 Alexa
6.3 Google Assistant
6.4 Cortana
6.5 Siri
6.6 Others

7 Smart Speaker Market, By Component
7.1 Introduction
7.2 Hardware
7.2.1 Processor
7.2.2 Memory
7.2.3 Power IC
7.2.4 Connectivity IC
7.2.5 Microphone
7.2.6 Speaker Driver
7.2.7 Audio IC
7.2.8 Others
7.3 Software

8 Smart Speaker Market, By Application
8.1 Introduction
8.2 Smart Home
8.3 Consumer
8.4 Smart Office
8.5 Others

9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 UK
9.3.2 Germany
9.3.3 France
9.3.4 Rest of Europe
9.4 APAC
9.4.1 China
9.4.2 Japan
9.4.3 South Korea
9.4.4 India
9.4.5 Rest of APAC
9.5 Rest of the World
9.5.1 Middle East & Africa
9.5.2 South America

10 Competitive Landscape
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

11 Company Profiles
11.1 Key Playes
11.1.1 Amazon
11.1.2 Harman International
11.1.3 Apple
11.1.4 Sonos
11.1.5 Alphabet
11.1.6 Bose
11.1.7 Sony
11.1.8 Onkyo
11.1.9 Panasonic
11.1.10 Alibaba
11.1.11 Pioneer
11.1.12 Altec Lansing
11.1.13 Lenovo
11.1.14 Xiaomi
11.1.15 SK Telecom
11.2 Others Key Playes
11.2.1 Baidu
11.2.2 Ultimate Ears
11.2.3 LG Electronics
11.2.4 Mobvoi
11.2.5 Libratone
11.3 Key Innovators
11.3.1 Invoxia
11.3.2 Avnera
11.3.3 Fabriq
11.3.4 D&M Holdings
11.3.5 Anker

12 Appendix
12.1 Insights From Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store: Subscription Portal
12.4 Introducing RT: Real-Time Market Intelligence
12.5 Available Customizations
12.6 Related Reports
12.7 Author Details

List of Tables
Table 1 Revenue Contribution From Smart Home Market in Smart City
Table 2 Smart Speaker Market, By Intelligent Virtual Assistant, 2016-2023 (USD Million)
Table 3 Smart Speaker Market, By Intelligent Virtual Assistant, 2016-2023 (Million Units)
Table 4 Smart Speaker Market for Alexa, By Application, 2016-2023 (USD Million)
Table 5 Smart Speaker Market for Alexa, By Application, 2016-2023 (Million Units)
Table 6 Smart Speaker Market for Google Assistant, By Application, 2016-2023 (USD Million)
Table 7 Smart Speaker Market for Google Assistant, By Application, 2016-2023 (Million Units)
Table 8 Smart Speaker Market for Cortana, By Application, 2016-2023 (USD Million)
Table 9 Smart Speaker Market for Cortana, By Application, 2016-2023 (Million Units)
Table 10 Smart Speaker Market for Siri, By Application, 2016-2023 (USD Million)
Table 11 Smart Speaker Market for Siri, By Application, 2016-2023 (Million Units)
Table 12 Smart Speaker Market for Others, By Application, 2016-2023 (USD Million)
Table 13 Smart Speaker Market for Others, By Application, 2016-2023 (Million Units)
Table 14 Smart Speaker Market, By Component, 2016-2023 (USD Million)
Table 15 Smart Speaker Market for Hardware, By Component, 2016-2023 (USD Million)
Table 16 Smart Speaker Market, By Application, 2016-2023 (USD Million)
Table 17 Smart Speaker Market, By Application, 2016-2023 (Million Units)
Table 18 Smart Speaker Market for Smart Home, By Region, 2016-2023 (USD Million)
Table 19 Smart Speaker Market for Smart Home, By Intelligent Virtual Assistant, 2016-2023 (USD Million)
Table 20 Smart Speaker Market for Smart Home, By Intelligent Virtual Assistant, 2016-2023 (Million Units)
Table 21 Smart Speaker Market for Consumer, By Region, 2016-2023 (USD Million)
Table 22 Smart Speaker Market for Consumer, By Intelligent Virtual Assistant, 2016-2023 (USD Million)
Table 23 Smart Speaker Market for Consumer, By Intelligent Virtual Assistant, 2016-2023 (Million Units)
Table 24 Smart Speaker Market for Smart Office, By Region, 2016-2023 (USD Million)
Table 25 Smart Speaker Market for Smart Office, By Intelligent Virtual Assistant, 2016-2023 (USD Million)
Table 26 Smart Speaker Market for Smart Office, By Intelligent Virtual Assistant, 2016-2023 (Million Units)
Table 27 Smart Speaker Market for Other Applications, By Region, 2016-2023 (USD Million)
Table 28 Smart Speaker Market for Other Applications, By Intelligent Virtual Assistant, 2016-2023 (USD Million)
Table 29 Smart Speaker Market for Other Applications, By Intelligent Virtual Assistant, 2016-2023 (Million Units)
Table 30 Smart Speaker Market, By Region, 2016-2023 (USD Million)
Table 31 North American Smart Speaker Market, By Country, 2016-2023 (USD Million)
Table 32 North American Smart Speaker Market, By Application, 2016-2023 (USD Million)
Table 33 North American Smart Speaker Market for Smart Home, By Country, 2016-2023 (USD Million)
Table 34 North American Smart Speaker Market for Consumer, By Country, 2016-2023 (USD Million)
Table 35 North American Smart Speaker Market for Smart Office, By Country, 2016-2023 (USD Million)
Table 36 North American Smart Speaker Market for Other Applications, By Country, 2016-2023 (USD Million)
Table 37 Smart Speaker Market in Us, By Application, 2016-2023 (USD Million)
Table 38 Canadian Smart Speaker Market, By Application, 2016-2023 (USD Million)
Table 39 Mexican Smart Speaker Market, By Application, 2016-2023 (USD Million)
Table 40 European Smart Speaker Market, By Country, 2016-2023 (USD Million)
Table 41 European Smart Speaker Market, By Application, 2016-2023 (USD Million)
Table 42 European Smart Speaker Market for Smart Home, By Country, 2016-2023 (USD Million)
Table 43 European Smart Speaker Market for Consumer, By Country, 2016-2023 (USD Million)
Table 44 European Smart Speaker Market for Smart Office, By Country, 2016-2023 (USD Million)
Table 45 European Smart Speaker Market for Other Applications, By Country, 2016-2023 (USD Million)
Table 46 Smart Speaker Market in Uk, By Application, 2016-2023 (USD Million)
Table 47 German Smart Speaker Market, By Application, 2016-2023 (USD Million)
Table 48 France Smart Speaker Market, By Application, 2016-2023 (USD Million)
Table 49 Smart Speaker Market in Rest of Europe, By Application, 2016-2023 (USD Million)
Table 50 Smart Speaker Market in APAC, By Country, 2016-2023 (USD Million)
Table 51 Smart Speaker Market in APAC, By Application, 2016-2023 (USD Million)
Table 52 Smart Speaker Market for Smart Home in APAC, By Country, 2016-2023 (USD Million)
Table 53 Smart Speaker Market for Consumer in APAC, By Country, 2016-2023 (USD Million)
Table 54 Smart Speaker Market for Smart Office in APAC, By Country, 2016-2023 (USD Million)
Table 55 Smart Speaker Market for Other Applications in APAC, By Country, 2016-2023 (USD Million)
Table 56 Chinese Smart Speaker Market, By Application, 2016-2023 (USD Million)
Table 57 Japanese Smart Speaker Market, By Application, 2016-2023 (USD Million)
Table 58 South Korean Smart Speaker Market, By Application, 2016-2023 (USD Million)
Table 59 Indian Smart Speaker Market, By Application, 2016-2023 (USD Million)
Table 60 Smart Speaker Market in Rest of APAC, By Application, 2016-2023 (USD Million)
Table 61 Smart Speaker Market in RoW, By Region, 2016-2023 (USD Million)
Table 62 Smart Speaker Market in RoW, By Application, 2016-2023 (USD Million)
Table 63 Smart Speaker Market for Smart Home in RoW, By Region, 2016-2023 (USD Million)
Table 64 Smart Speaker Market for Consumer in RoW, By Region, 2016-2023 (USD Million)
Table 65 Smart Speaker Market for Smart Office in RoW, By Region, 2016-2023 (USD Million)
Table 66 Smart Speaker Market for Other Applications in RoW, By Region, 2016-2023 (USD Million)
Table 67 Smart Speaker Market in Middle East & Africa, By Application, 2016-2023 (USD Million)
Table 68 South American Smart Speaker Market, By Application, 2016-2023 (USD Million)
Table 69 Product Launches and New Product Developments (2015-2017)
Table 70 Partnerships, Agreements, and Collaborations (2016-2017)
Table 71 Expansions (2016-2017)

List of 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 Smart Speaker Market for Siri to Grow at Highest CAGR Between 2018 and 2023
Figure 6 Alexa to Register Largest Shipment Between 2018 and 2023
Figure 7 Smart Home Application to Hold Largest Size of Smart Speaker Market By 2023
Figure 8 Smart Speaker Market for Software to Grow at Higher CAGR Between 2018 and 2023
Figure 9 North America Held Largest Share of Smart Speaker Market in 2017
Figure 10 Rise in Disposable Income and Willingness of Consumers to Spend More on Advanced Technologies is Driving the Smart Speaker Market
Figure 11 Smart Home to Hold Largest Size of Smart Speaker Market for Alexa By 2023
Figure 12 North America to Hold Largest Share of Smart Speaker Market for Consumer Application Between 2018 and 2023
Figure 13 Siri Smart Speaker Market for Smart Home Application to Grow at Highest CAGR Between 2018 and 2023
Figure 14 US to Hold Largest Size of Smart Speaker Market in North America By 2023
Figure 15 Speaker Driver to Hold Largest Size of Smart Speaker Market for Hardware Between 2017 and 2023
Figure 16 Increasing Customer Focus Toward Connected Devices and Growing Demand for IoT and AI Technologies in Various Applications Driving Smart Speaker Market Growth
Figure 17 Smart Home Market Penetration
Figure 18 Installation of Connected Devices in Smart Homes Within Smart Cities
Figure 19 Conceptual Framework on Consumer Acceptance of New Technologies
Figure 20 Timeline of Smart Speakers Offered By Key Players
Figure 21 Value Chain: Smart Speaker Market, 2017
Figure 22 Smart Speaker Market for Siri to Grow at Highest CAGR Between 2018 and 2023
Figure 23 Smart Home to Hold Largest Size of Smart Speaker Market for Cortana Between 2018 and 2023
Figure 24 Smart Speaker Market for Hardware to Grow at Higher CAGR Between 2018 and 2023
Figure 25 Smart Speaker Market for Smart Office Application to Grow at Highest CAGR Between 2018 and 2023
Figure 26 Siri Smart Speaker Market for Smart Home Application to Grow at Highest CAGR Between 2018 and 2023
Figure 27 Smart Speaker Market for Other Applications in APAC to Grow at Highest CAGR Between 2018 and 2023
Figure 28 Geographic Snapshot of Smart Speaker Market (CAGR, 2018-2023)
Figure 29 North America: Smart Speaker Market Snapshot
Figure 30 Smart Home Held Largest Size of Smart Speaker Market in US in 2017
Figure 31 Europe: Smart Speaker Market Snapshot
Figure 32 UK Held Largest Share of Smart Speaker Market in Europe in 2017
Figure 33 APAC: Smart Speaker Market Snapshot
Figure 34 Chinese Smart Speaker Market for Smart Office to Grow at Highest CAGR During Forecast Period
Figure 35 Consumer Application to Hold Largest Size of Smart Speaker Market in Middle East & Africa By 2023
Figure 36 New Product Launch and Development are the Key Strategies Adopted By Players in Smart Speaker Market (2014-2017)
Figure 37 Ranking of Top 5 Players in Smart Speaker Market (2017)
Figure 38 Amazon: Company Snapshot
Figure 39 Harman International: Company Snapshot
Figure 40 Apple: Company Snapshot
Figure 41 Alphabet: Company Snapshot
Figure 42 Sony: Company Snapshot
Figure 43 Panasonic: Company Snapshot
Figure 44 Alibaba: Company Snapshot
Figure 45 Pioneer: Company Snapshot
Figure 46 Lenovo: Company Snapshot
Figure 47 SK Telecom: Company Snapshot

Note: Product cover images may vary from those shown
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  • Alibaba
  • Alphabet
  • Altec Lansing
  • Amazon
  • Anker
  • Apple
  • Avnera
  • Baidu
  • Bose
  • D&M Holdings
  • Fabriq
  • Harman International
  • Invoxia
  • Lenovo
  • LG Electronics
  • Libratone
  • Mobvoi
  • Onkyo
  • Panasonic
  • Pioneer
  • SK Telecom
  • Sonos
  • Sony
  • Ultimate Ears
  • Xiaomi
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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