As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

Global Smart Speaker Market: By Intelligent Virtual Assistant: Alexa, Google Assistant, Siri, Dueros, Aligenie, Xiao AI, Others; By Component: Hardware, Software; By Application; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Smart Speaker Market Outlook

The global smart speaker market attained a value about USD 7.38 billion in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 19.54% to reach nearly USD 21.55 billion by 2026.

 

Rising Advancements in Technology to Propel the Market Growth of Smart Speaker

The increasing number of smart homes, the growing demand for smart speaker displays, and the rapid proliferation of multifunctional and versatile devices are augmenting the market growth of smart speaker. Smart speakers such as Alexa, Google Assistant, and Siri are equipped with technologies, such as the Internet of Things (IoT) and Artificial intelligence (AI). In addition, the rise in the usage of smart devices among the younger generation and the increase in consumer readiness to invest in trending technologies are positively influencing the market growth of smart speakers.

 

Global Smart Speaker Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

The rising market demand for smart speakers can be attributed to the development of partnerships between creators of smart speakers and smart home manufacturers, which is further invigorating the market growth. However, with the use of the smart speaker, user data privacy became a major issue as smart speaker provides personalised services to its users by collection and analysis of the user data, which may hinder the market growth. Yet, the ultra-fast 5G wireless innovation developed to support improved digital technology and smart homes is projected to boost the adoption of smart speakers in the coming years, thereby boosting the market growth.

 

Smart Speaker: Industry Definition and Segmentation

A smart speaker refers to a wireless speaker equipped with an internet connection that can be controlled by voice instructions and is capable of playing audio content, streaming, relaying information, and communicating with another device. It provides interactive functions through voice commands and acts as the control hub for a smart home using a built-in virtual assistant feature.

On the basis of intelligent virtual assistant, smart speaker industry is segmented into:

  • Alexa
  • Google Assistant
  • Siri
  • Dueros
  • Aligenie
  • Xiao AI
  • Others

Based on  component, the  market can be divided  into:

  • Hardware
  • Software

The market, on the basis of application, the market can be categorised  into:

  • Smart Home
  • Consumer
  • Smart Office
  • Others

The EMR report looks into the regional markets of smart speaker like North America, Europe, the Asia pacific, Latin America, and the Middle East and Africa.

 

Increase in the Preference for Smart Homes to Augment the Market Growth of Smart Speaker

The smart home is one of the major application segments of smart speakers owing to their versatile usability and advanced features. In this technologically advancing world, consumers are increasingly adopting smart homes at a rapid pace as a result of a rise in disposable incomes and increasing purchasing power. A smart home comprises smart devices, like smart lights, smart TVs, smart locks, thermostats, security cameras, and smart kitchen appliances, among others.  Smart speakers thus act as a control hub to manage these devices by allowing a remote operation to smart devices with voice commands over the internet, thus, making everyday tasks easy and stimulating the industry growth.

Moreover, development in the audio technology segment aided by investments in R&D for the development of innovative products is anticipated to bolster the growth of the smart speaker industry over the forecast period. In addition, the forthcoming structuring of innovative wireless technology, 5G, Bluetooth, and wi-fi, along with the rising market penetration of smart phones is anticipated to enhance the growth of the market.

 

Key Industry Players in the Global Smart Speaker Market

The report presents a detailed analysis of the following key players in the global smart speaker market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Amazon.com, Inc.
  • Alphabet Inc.
  • Alibaba Group Holding Limited
  • Xiaomi Corporation
  • Apple Inc.
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Intelligent Virtual Assistant, Component, Application, Region
Breakup by Intelligent Virtual Assistant Alexa, Google Assistant, Siri, Dueros, Aligenie, Xiao AI, Others
Breakup by Component Hardware, Software
Breakup by Application Smart Home, Consumer, Smart Office, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Price Analysis Historical and Forecast Price Trends- Regional
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Amazon.com, Inc., Alphabet Inc., Alibaba Group Holding Limited, Xiaomi Corporation, Apple Inc., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Smart Speaker Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Smart Speaker Historical Market (2016-2020) 
    8.3    Global Smart Speaker Market Forecast (2021-2026)
    8.4    Global Smart Speaker Market by Intelligent Virtual Assistant
        8.4.1    Alexa
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Google Assistant 
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    Siri
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
        8.4.4    Dueros 
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2016-2020)
            8.4.4.3    Forecast Trend (2021-2026)
        8.4.5    Aligenie 
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2016-2020)
            8.4.5.3    Forecast Trend (2021-2026)
        8.4.6    Xiao AI 
            8.4.6.1    Market Share
            8.4.6.2    Historical Trend (2016-2020)
            8.4.6.3    Forecast Trend (2021-2026)
        8.4.7    Others
    8.5    Global Smart Speaker Market by Component
        8.5.1    Hardware
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Software
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
    8.6    Global Smart Speaker Market by Application
        8.6.1    Smart Home 
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Consumer  
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
        8.6.3    Smart Office
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2016-2020)
            8.6.3.3    Forecast Trend (2021-2026)
        8.6.4    Others
    8.7    Global Smart Speaker Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Price Analysis
13    Competitive Landscape

    13.1    Market Structure
    13.2    Company Profiles
        13.2.1    Amazon.com, Inc.
            13.2.1.1    Company Overview
            13.2.1.2    Product Portfolio
            13.2.1.3    Demographic Reach and Achievements
            13.2.1.4    Certifications
        13.2.2    Alphabet Inc.
            13.2.2.1    Company Overview
            13.2.2.2    Product Portfolio
            13.2.2.3    Demographic Reach and Achievements
            13.2.2.4    Certifications
        13.2.3      Alibaba Group Holding Limited
            13.2.3.1    Company Overview
            13.2.3.2    Product Portfolio
            13.2.3.3    Demographic Reach and Achievements
            13.2.3.4    Certifications
        13.2.4    Xiaomi Corporation
            13.2.4.1    Company Overview
            13.2.4.2    Product Portfolio
            13.2.4.3    Demographic Reach and Achievements
            13.2.4.4    Certifications
        13.2.5    Apple Inc.
            13.2.5.1    Company Overview
            13.2.5.2    Product Portfolio
            13.2.5.3    Demographic Reach and Achievements
            13.2.5.4    Certifications
        13.2.6    Others
14    Industry Events and Developments

 

List of Figures and Tables

1.    Global Smart Speaker Market: Key Industry Highlights, 2016 and 2026
2.    Global Smart Speaker Historical Market: Breakup by Intelligent Virtual Assistant (USD Billion), 2016-2020
3.    Global Smart Speaker Market Forecast: Breakup by Intelligent Virtual Assistant (USD Billion), 2021-2026
4.    Global Smart Speaker Historical Market: Breakup by Component (USD Billion), 2016-2020
5.    Global Smart Speaker Market Forecast: Breakup by Component (USD Billion), 2021-2026
6.    Global Smart Speaker Historical Market: Breakup by Application (USD Billion), 2016-2020
7.    Global Smart Speaker Market Forecast: Breakup by Application (USD Billion), 2021-2026
8.    Global Smart Speaker Historical Market: Breakup by Region (USD Billion), 2016-2020
9.    Global Smart Speaker Market Forecast: Breakup by Region (USD Billion), 2021-2026
10.    North America Smart Speaker Historical Market: Breakup by Country (USD Billion), 2016-2020
11.    North America Smart Speaker Market Forecast: Breakup by Country (USD Billion), 2021-2026
12.    Europe Smart Speaker Historical Market: Breakup by Country (USD Billion), 2016-2020
13.    Europe Smart Speaker Market Forecast: Breakup by Country (USD Billion), 2021-2026
14.    Asia Pacific Smart Speaker Historical Market: Breakup by Country (USD Billion), 2016-2020
15.    Asia Pacific Smart Speaker Market Forecast: Breakup by Country (USD Billion), 2021-2026
16.    Latin America Smart Speaker Historical Market: Breakup by Country (USD Billion), 2016-2020
17.    Latin America Smart Speaker Market Forecast: Breakup by Country (USD Billion), 2021-2026
18.    Middle East and Africa Smart Speaker Historical Market: Breakup by Country (USD Billion), 2016-2020
19.    Middle East and Africa Smart Speaker Market Forecast: Breakup by Country (USD Billion), 2021-2026
20.    North America Historical Price Trends and Forecast 2016-2026
21.    Europe Historical Price Trends and Forecast 2016-2026
22.    Asia Pacific Historical Price Trends and Forecast 2016-2026
23.    Latin America Historical Price Trends and Forecast 2016-2026
24.    Middle East and Africa Historical Price Trends and Forecast 2016-2026
25.    Global Smart Speaker Market Structure

Key Questions Answered in the Report

The global smart speaker market attained a value of nearly USD 7.38 billion in 2020.

The market is projected to grow at a CAGR of 19.54% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 21.55 billion by 2026.

The growth of smart speaker industry can be attributed to the increasing  preference for smart homes due to advancements in audio technology as a result of rising investments in the R&D sector.

The rising preference for smart home infrastructure owing to increasing purchasing power of the people is augmenting the market growth of smart speakers.

The major regional markets for smart speaker are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The various types of intelligent virtual assistant in the industry are Alexa, google assistant Siri, Dueros, Aligenie, and xiao AL, among others.

The significant components of smart speaker include hardware and software.

The major applications of smart speaker are smart home, consumer, and smart office, among others.

The major players in the industry are Amazon.com Inc, Alphabet Inc, Alibaba Group Holding Limited, Xiaomi Corporation, and Apple Inc,  among others.

Analyst Review

The global smart speaker market attained a value of about USD 7.38 billion in 2020, driven by advancements in technology. Aided by the rising preference for smart homes, the market is expected to grow at a CAGR of 19.54% in the forecast period of 2021-2026 to reach approximately USD 21.55 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on intelligent virtual assistant, , the  industry can be segmented into Alexa, google assistant, Siri, Dueros, Aligenie, and xiao AL, among others. On the basis of component, the market can be divided into hardware and software. The market, based on application, can be categorised into smart home, consumer, and smart office, among others.  The major regional markets for smart speaker are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the industry are Amazon.com Inc, Alphabet Inc, Alibaba Group Holding Limited, Xiaomi Corporation, and Apple Inc, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

Purchase Full Report

Mini Report

$1499
  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

$2699
  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Five User License

$3699
  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

$4699
  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Any Question? Speak With An Analyst

Contact Analyst

View A Sample

Request Sample

Did You Miss Anything, Ask Now

Request Customisation
Why Expert Market Research?

RIGHT PEOPLE

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

RIGHT METHODOLOGY

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

RIGHT PRICE

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

RIGHT SUPPORT

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

Similar Reports





NEWSLETTER