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The Global Smart Speaker Market is expected to grow at a significant rate during the forecast period owing to the growing demand for luxury entertainment systems. Growing number of smart homes and rising internet penetration is aiding to the growing demand for smart speaker, globally. Further, increasing technological advancement has led to variety of smart speakers available in the market. This has also led to increase in the demand for multifunctional devices and hence smart speakers are getting increasingly popular around the world.Speak directly to the analyst to clarify any post sales queries you may have.
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Smart speakers are voice command devices with an integrated virtual assistant that offers interactive actions and hands-free activation with the help of one "hot word". The growing number of tech savvy consumers is leading to the increasing demand for smart technology equipped devices like smart speakers. Consumers’ readiness to spend on trending technologies and rise in usage of smart devices, especially among youngsters is anticipated to fuel the demand for smart speakers in the coming years. The establishment of 5G network and advancement in Natural Language Processing (NLP) are further supporting the demand for smart speakers.
The Global Smart Speaker Market can be segmented based on intelligent virtual assistant, component, connectivity, application, distribution channel and region. Based on intelligent virtual assistant, the market is segmented into Google Assistant, Alexa, Siri, Microsoft Cortana, Clova and others. Alexa, which was first launched by Amazon in 2014, captured the largest market share in 2019. Growing consumer preference for Alexa due to its lesser cost and more application than other assistants fuels the demand for Alexa smart speakers across the globe.
Regionally, North America holds the largest market share in the smart speaker market due to high technological advancements in the region and increasing per capita disposable income. Leading smart speaker companies are American and hence the North American region is expected to dominate the market in terms of revenue during the next five years as well.
Major companies operating in the Global Smart Speaker Market include Apple, Inc., Amazon, Harman International, Sonos, Alphabet, Bose, Sony, Onkyo, Panasonic, Alibaba, Xiaomi and Lenovo, among others. Leading companies are working on localization of smart speaker to expand their market and increase their revenue share.
Years considered for this report:
- Historical Years: 2015-2018
- Base Year: 2019
- Estimated Year: 2020
- Forecast Period: 2021–2025
Objective of the Study:
- To analyse and forecast the market size of the Global Smart Speaker Market.
- To forecast the Global Smart Speaker Market based on intelligent virtual assistant, component, connectivity, application, distribution channel, company and regional distribution.
- To identify drivers and challenges for the Global Smart Speaker Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc. in the Global Smart Speaker Market.
- To identify and analyse the profile of leading players operating in the Global Smart Speaker Market.
The author performed both primary as well as exhaustive secondary research for this study. Initially, the author sourced a list of smart speaker companies across the globe. Subsequently, researchers conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the author could include the vendors which could not be identified due to the limitations of secondary research.
The author calculated the Global Smart Speaker Market size by using a bottom-up approach, where the data for various end-user industries and its application across various product types were recorded and forecast for the future years. Researchers sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also used.
Key Target Audience:
- Smart speaker manufacturing companies/partners
- Suppliers/Distributers
- End-Users
- Government bodies such as regulating authorities and policy makers
- Organizations, industry associations, forums and alliances related to smart speaker market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as smart speaker manufacturing companies and partners, end-users etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.
Report Scope:
In this report, the Global Smart Speaker Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Global Smart Speaker Market, By Intelligent Virtual Assistant:
- Google Assistant
- Alexa
- Siri
- Microsoft Cortana
- Clova
- Others
Global Smart Speaker Market, By Component:
- Hardware
- Software
Global Smart Speaker Market, By Connectivity:
- Wi-Fi
- Bluetooth
- Others
Global Smart Speaker Market, By Application:
- Commercial
- Residential
Global Smart Speaker Market, By Distribution Channel:
- Online
- Offline
Global Smart Speaker Market, By Region:
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- North America
- United States
- Mexico
- Canada
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- South Africa
- Saudi Arabia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Smart Speaker Market.
Available Customizations:
With the given market data, the author offers customizations according a client’s specific needs.
Table of Contents
1. Product Overview2. Research Methodology3. Impact of COVID-19 on Global Smart Speaker Market4. Executive Summary5. Voice of Customer13. Market Trends & Developments15. Strategic Recommendations16. About the Author & Disclaimer
6. Global Smart Speaker Market Outlook
7. Asia-Pacific Smart Speaker Market Outlook
8. Europe Smart Speaker Market Outlook
9. North America Smart Speaker Market Outlook
10. South America Smart Speaker Market Outlook
11. Middle East and Africa Smart Speaker Market Outlook
12. Market Dynamics
14. Competitive Landscape
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Apple, Inc.
- Amazon.com, Inc.
- Harman International Industries Ltd.
- Sonos, Inc.
- Alphabet, Inc.
- Bose Corp.
- Sony Corp.
- Onkyo Corporation
- Panasonic Corporation
- Alibaba Group Holding Limited
- Xiaomi Corporation
- Lenovo Corporation
