The global smart speaker market was valued at US$ 2.28 Bn in 2018 and is expected to reach US$ XX Bn by 2026, growing at a CAGR of 28.3% during the forecast period 2016-2026
A smart speaker is a wireless speaker that can be enabled with Wi-Fi, Bluetooth, and other wireless communication protocols. A smart speaker is powered by an intelligent virtual assistant that is driven by artificial intelligence (AI). These smart speakers offer several benefits such as peer-to-peer communication through mesh networking, and voice recognition and command, which are the prime factors in fuelling the demand for smart speakers.
Smart Speaker Market Segmentation |
|
| By Intelligent Virtual Assistant | Amazon Alexa |
| Siri | |
| Microsoft Cortana | |
| Google Assistant | |
| Others (AliGenie, Xiaomi Al assistant, and Naver Clova) | |
| By Price Range | High (>US$ 200) |
| Medium (US$ 100-US$ 200) | |
| Low | |
| By Distribution Channel | Offline Store |
| Online Store | |
| By End-user | Individual |
| Commercial | |
| By Region | North America (US and Canada) |
| Europe (UK, Germany, France and Rest of Europe) | |
| Asia Pacific (China, Japan, India, and Rest of Asia Pacific) | |
| Latin America (Brazil, Mexico, and Rest of Latin America) | |
| Middle East & Africa (GCC and Rest of Middle East & Africa) | |
The growth of the smart speaker market is mainly driven by the growth in disposable income, the increasing number of smart homes, and the rapid proliferation of multi-functional smart devices, which have positively impacted market demand. Further, the rising trend of personalization and increasing demand for IoT-enabled devices are bolstering the demand for smart speakers. However, issues like data security and the risk of users’ accounts getting hacked are expected to hinder the demand for smart speakers in the market.
Based on Intelligent Virtual Assistant, Amazon Alexa is anticipated to hold the largest share in the market
Based on intelligent virtual assistants, the smart speaker market has been segmented into Amazon Alexa, Siri, Microsoft Cortana, Google Assistant, and Others. The other segment includes AliGenie, Xiaomi Al assistant, and Naver Clova. Amazon Alexa is anticipated to hold the largest share in the market during the forecast period. Further, increasing consumer preference for low range Amazon Alexa speakers is expected to drive the demand for Amazon Alexa smart speakers.
Based on Price Range, the medium segment is expected to hold the largest share in the market
Based on the price range, the market has been segmented into high (>US$ 200), medium (US$ 100-US$ 200), and low (
Based on the distribution channel, online retailing is anticipated to lead the market with the largest market share
Based on the distribution channel, the smart speaker market has been segmented into the offline stores and online stores. The online segment is expected to lead the market with the largest share and grow at the highest CAGR during the forecast period. Major factors that are driving the growth of this segment are, global access to products, cost-saving, a wide product assortment, and discounts and rebates, etc. Further, the rising proliferation of smartphones and the growing penetration of faster internet networks are fuelling the demand for online marketing.
Based on End-users, the individual segment is expected to hold the largest market share
Based on end-users, the smart speaker market has been segmented into individual and commercial. The individual segment is anticipated to hold the largest share in the market and is expected to grow at the highest CAGR during the forecast period. The growing consumer need for a comfortable and convenient lifestyle and the need to control home products with mobile devices and internet connection are major factors in driving the growth of smart speakers among individual homeowners.
Based on regions, North America is expected to hold the largest market share
North America is expected to hold the largest share in the global smart speaker market and is projected to grow at the highest CAGR during the forecast period. Major factors responsible for the growth of the market in this region include the high adoption rate of technically advanced products and the presence of key manufacturers or players such as Google, Apple, and Amazon.
The inclination of consumers to accept and deploy new technologies has stimulated manufacturers to develop new and innovative products, which is further projected to fuel the growth of smart speakers in this region.
Company Profiles and Competitive Intelligence:
The major players operating in the global smart speaker market are
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Table of Contents
Chapter 1 Executive Summary
1.1 Market Summary
1.1.1 Global Smart Speaker Market, 2016-2026, (US$ Mn) (Units)
1.1 Market Snapshot: Global Smart Speaker Market
1.2 Market Dynamics
1.3 Global Smart Speaker Market, by Segment, 2018
1.3.1 Global Smart Speaker Market, by Intelligent Virtual Assistant, 2018, (US$ Mn) (Units)
1.3.1 Global Smart Speaker Market, by Price Range, 2018, (US$ Mn) (Units)
1.3.1 Global Smart Speaker Market, by Distribution Channel, 2018, (US$ Mn) (Units)
1.3.2 Global Smart Speaker Market, by End User, 2018, (US$ Mn) (Units)
1.3.3 Global Smart Speaker Market, by Region, 2018 (US$ Mn) (Units)
1.4 Premium Insights
1.4.1 Smart Speaker Market in Developed vs. Developing Economies, 2018 vs 2023
1.4.2 Global Smart Speaker Market: Regional Life Cycle Analysis
Chapter 2 Market Dynamics
2.1 Market Overview
2.2 Market Drivers
2.2.1 Increased advent of voice-controlled assistance with multiple functionalities
2.2.2 Increasing penetration of wireless technology
2.3 Market Restraints
2.3.1 High security risk
2.3.2 Issue related to compatibility, connectivity and power back-up
2.4 Market Opportunities
2.4.1 Growing demand for advanced integrated technologies
2.5 Industry SWOT Analysis
2.6 Pricing Analysis
2.7 Porter’s Five Forces Analysis
Chapter 3 Global Smart Speaker Market, by Intelligent Virtual Assistant
3.1 Market Overview, by Intelligent Virtual Assistant
3.1.1 Global Smart Speaker Market, by Intelligent Virtual Assistant, 2016-2026 (US$ Mn) (Units)
3.1.2 Incremental Opportunity, by Intelligent Virtual Assistant, 2018
3.2 Amazon Alexa
3.2.1 Global Smart Speaker Market, by Amazon Alexa, 2016-2026, (US$ Mn) (Units)
3.3 Siri
3.3.1 Global Smart Speaker Market, by Siri, 2016-2026, (US$ Mn) (Units)
3.4 Microsoft Cortana
3.4.1 Global Smart Speaker Market, by Microsoft Cortana, 2016-2026, (US$ Mn) (Units)
3.5 Google Assistant
3.5.1 Global Smart Speaker Market, by Google Assistant, 2016-2026, (US$ Mn) (Units)
3.5 Others
3.5.1 Global Smart Speaker Market, by Others, 2016-2026, (US$ Mn) (Units)
Chapter 4 Global Smart Speaker Market, by Price Range
4.1 Market Overview, by Price Range
4.1.1 Global Smart Speaker Market, by Price Range, 2016-2026 (US$ Mn) (Units)
4.1.2 Incremental Opportunity, by Price Range, 2018
4.2 High (>US$ 200)
4.2.1 Global Smart Speaker Market, by High (>US$ 200), 2016-2026, (US$ Mn) (Units)
4.3 Medium (US$ 100-US$ 200)
4.3.1 Global Smart Speaker Market, by Medium (US$ 100-US$ 200), 2016-2026, (US$ Mn) (Units)
4.4 Low (
4.4.1 Global Smart Speaker Market, by Low (
Chapter 5 Global Smart Speaker Market, by Distribution Channel
5.1 Market Overview, by Distribution Channel
5.1.1 Global Smart Speaker Market, by Distribution Channel, 2016-2026 (US$ Mn) (Units)
5.1.2 Incremental Opportunity, by Distribution Channel, 2018
5.2 Offline Store
5.2.1 Global Smart Speaker Market, by Offline Store, 2016-2026, (US$ Mn) (Units)
5.3 Online Store
5.3.1 Global Smart Speaker Market, by Online Store, 2016-2026, (US$ Mn) (Units)
Chapter 6 Global Smart Speaker Market, by End User
6.1 Market Overview, by End User
6.1.1 Global Smart Speaker Market, by End User, 2016-2026 (US$ Mn) (Units)
6.1.2 Incremental Opportunity, by End User, 2018
6.2 Individual
5.2.1 Global Smart Speaker Market, by Individual, 2016-2026, (US$ Mn) (Units)
6.3 Commercial
6.3.1 Global Smart Speaker Market, by Commercial, 2016-2026, (US$ Mn) (Units)
Chapter 7 Global Smart Speaker Market, by Region
7.1 Market Overview, by Region
7.1.1 Global Smart Speaker Market, by Region, 2016-2026, (US$ Mn) (Units)
7.2 Attractive Investment Opportunity, by Region, 2018
7.3 North America Smart Speaker Market
7.3.1 North America Smart Speaker Market, by Intelligent Virtual Assistant, 2016-2026 (US$ Mn) (Units)
7.3.2 North America Smart Speaker Market, by Price Range, 2016-2026 (US$ Mn) (Units)
7.3.3 North America Smart Speaker Market, by Distribution Channel, 2016-2026 (US$ Mn) (Units)
7.3.4 North America Smart Speaker Market, by End User, 2016-2026 (US$ Mn) (Units)
7.3.5 North America Smart Speaker Market, by Country, 2016-2026 (US$ Mn) (Units)
7.3.5.1 United States Smart Speaker Market, 2016-2026 (US$ Mn) (Units)
7.3.5.2 Canada Smart Speaker Market, 2016-2026 (US$ Mn) (Units)
7.4 Europe Smart Speaker Market
7.4.1 Europe Smart Speaker Market, by Intelligent Virtual Assistant, 2016-2026 (US$ Mn) (Units)
7.4.2 Europe Smart Speaker Market, by Price Range, 2016-2026 (US$ Mn) (Units)
7.4.3 Europe Smart Speaker Market, by Distribution Channel, 2016-2026 (US$ Mn) (Units)
7.4.4 Europe Smart Speaker Market, by End User, 2016-2026 (US$ Mn) (Units)
7.4.5 Europe Smart Speaker Market, by Country, 2016-2026 (US$ Mn) (Units)
7.4.5.1 United Kingdom Smart Speaker Market, 2016-2026 (US$ Mn) (Units)
7.4.5.2 Germany Smart Speaker Market, 2016-2026 (US$ Mn) (Units)
7.4.5.3 France Smart Speaker Market, 2016-2026 (US$ Mn) (Units)
7.4.5.4 Rest of Europe Smart Speaker Market, 2016-2026 (US$ Mn) (Units)
7.5 Asia Pacific Smart Speaker Market
7.5.1 Asia Pacific Smart Speaker Market, by Intelligent Virtual Assistant, 2016-2026 (US$ Mn) (Units)
7.5.2 Asia Pacific Smart Speaker Market, by Price Range, 2016-2026 (US$ Mn) (Units)
7.5.3 Asia Pacific Smart Speaker Market, by Distribution Channel, 2016-2026 (US$ Mn) (Units)
7.5.4 Asia Pacific Smart Speaker Market, by End User, 2016-2026 (US$ Mn) (Units)
7.5.5 Asia Pacific Smart Speaker Market, by Country, 2016-2026 (US$ Mn) (Units)
7.5.5.1 China Smart Speaker Market, 2016-2026 (US$ Mn) (Units)
7.5.5.2 Japan Smart Speaker Market, 2016-2026 (US$ Mn) (Units)
7.5.5.3 India Smart Speaker Market, 2016-2026 (US$ Mn) (Units)
7.5.5.4 Rest of Asia Pacific Smart Speaker Market, 2016-2026 (US$ Mn) (Units)
7.6 Latin America Smart Speaker Market
7.6.1 Latin America Smart Speaker Market, by Intelligent Virtual Assistant, 2016-2026 (US$ Mn) (Units)
7.6.2 Latin America Smart Speaker Market, by Price Range, 2016-2026 (US$ Mn) (Units)
7.6.3 Latin America Smart Speaker Market, by Distribution Channel, 2016-2026 (US$ Mn) (Units)
7.6.4 Latin America Smart Speaker Market, by End User, 2016-2026 (US$ Mn) (Units)
7.6.5 Latin America Smart Speaker Market, by Country, 2016-2026 (US$ Mn) (Units)
7.6.5.1 Brazil Smart Speaker Market, 2016-2026 (US$ Mn) (Units)
7.6.5.2 Mexico Smart Speaker Market, 2016-2026 (US$ Mn) (Units)
7.6.5.3 Rest of Latin America Smart Speaker Market, 2016-2026 (US$ Mn) (Units)
7.7 Middle East & Africa Smart Speaker Market
7.7.1 Middle East & Africa Smart Speaker Market, by Intelligent Virtual Assistant, 2016-2026 (US$ Mn) (Units)
7.7.2 Middle East & Africa Smart Speaker Market, by Price Range, 2016-2026 (US$ Mn) (Units)
7.7.3 Middle East & Africa Smart Speaker Market, by Distribution Channel, 2016-2026 (US$ Mn) (Units)
7.7.4 Middle East & Africa Smart Speaker Market, by End User, 2016-2026 (US$ Mn) (Units)
7.7.5 Middle East & Africa Smart Speaker Market, by Intelligent Virtual Assistant, 2016-2026 (US$ Mn) (Units)
7.7.5.1 GCC Smart Speaker Market, 2016-2026 (US$ Mn) (Units)
7.7.5.2 Rest of Middle East & Africa Smart Speaker Market, 2016-2026 (US$ Mn) (Units)
Chapter 8 Competitive Intelligence
8.1 Top 5 Players Comparison
8.2 Market Positioning of Key Players, 2018
8.3 Market Players Mapping
8.3.1 By Intelligent Virtual Assistant
8.3.2 By Price Range
8.3.3 By Distribution Channel
8.3.4 By End User
8.3.5 By Region
8.4 Strategies Adopted by Key Market Players
8.5 Recent Developments in the Market
8.5.1 Mergers & Acquisitions, Partnership, New Product Developments
Chapter 9 Company Profiles
9.1 Amazon.com, Inc.
9.1.1 Amazon.com, Inc. Overview
9.1.2 Amazon.com, Inc. Products Portfolio
9.1.3 Amazon.com, Inc. Financial Overview
9.1.4 Amazon.com, Inc. News/Recent Developments
9.2 Apple Inc.
9.2.1 Apple Inc. Overview
9.2.2 Apple Inc. Products Portfolio
9.2.3 Apple Inc. Financial Overview
9.2.4 Apple Inc. News/Recent Developments
9.3 Google LLC
9.3.1 Google LLC Overview
9.3.2 Google LLC Products Portfolio
9.3.3 Google LLC Financial Overview
9.3.4 Google LLC News/Recent Developments
9.4 Baidu, Inc.
9.4.1 Baidu, Inc. Overview
9.4.2 Baidu, Inc. Products Portfolio
9.4.3 Baidu, Inc. Financial Overview
9.4.4 Baidu, Inc. News/Recent Developments
9.5 Samsung Electronics Co. Ltd
9.5.1 Samsung Electronics Co. Ltd Overview
9.5.2 Samsung Electronics Co. Ltd Products Portfolio
9.5.3 Samsung Electronics Co. Ltd Financial Overview
9.5.4 Samsung Electronics Co. Ltd News/Recent Developments
9.6 Xiaomi Corporation
9.6.1 Xiaomi Corporation Overview
9.6.2 Xiaomi Corporation Products Portfolio
9.6.3 Xiaomi Corporation Financial Overview
9.6.4 Xiaomi Corporation News/Recent Developments
9.7 Sonos
9.7.1 Sonos Overview
9.7.2 Sonos Products Portfolio
9.7.3 Sonos Financial Overview
9.7.4 Sonos News/Recent Developments
9.8 Bose Corporation
9.8.1 Bose Corporation Overview
9.8.2 Bose Corporation Products Portfolio
9.8.3 Bose Corporation Financial Overview
9.8.4 Bose Corporation News/Recent Developments
9.9 Microsoft Corporation
9.9.1 Microsoft Corporation Limited Overview
9.9.2 Microsoft Corporation Products Portfolio
9.9.3 Microsoft Corporation Financial Overview
9.9.4 Microsoft Corporation News/Recent Developments
9.10 Alibaba Group Holding Limited
9.10.1 Alibaba Group Holding Limited Overview
9.10.2 Alibaba Group Holding Limited Products Portfolio
9.10.3 Alibaba Group Holding Limited Financial Overview
9.10.4 Alibaba Group Holding Limited News/Recent Developments
Chapter 10 Preface
10.1 Data Triangulation
10.2 Research Methodology
10.2.1 Phase I – Secondary Research
10.2.2 Phase II – Primary Research
10.2.3 Phase III – Expert Panel Review
10.2.4 Approach Adopted
10.2.4.1 Top-Down Approach
10.2.4.2 Bottom-Up Approach
10.2.5 Supply- Demand side
10.2.6 Breakup of the Primary Profiles
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