Smart Speakers Market

Rising home automation aids the smart speaker market’s growth.

The smart speaker market was valued at $4.30 billion in 2017 and is expected to grow at a CAGR of 26.4% between 2017 and 2026. A smart speaker may be defined as a wireless audio playback device that uses several types of connectivity for additional functions. Technically, a “smart” speaker is one that can do more than simply emit sound. What makes smart speakers different from normal speakers is the fact that they come with special features that facilitate connectivity to multiple types of audio sources, ease of use, and additional functionality. These additional functionalities include scheduling calendar invites, quickly looking up information, controlling smart homes, playing music, shopping online, and facilitating calls. All the aforementioned tasks can be performed by the person operating the smart speaker. The rising smart home industry across the world is an important factor contributing to the increased adoption of smart speakers. Moreover, considering the fact that an increasing number of consumers are shifting towards connected devices, the smart speaker market is expected to witness significant growth over the forecast period. Another important factor aiding the growth of the smart speaker market is the rising net disposable income of people, especially in countries such as India, China, and Brazil, among others. The advent of e-commerce has further influenced market growth positively. Ease of purchase and wide availability of options are some of the major factors supporting the aforementioned sentence.

Market Synopsis

The adoption of smart speakers is expected to be high across offices in the coming years.

The residential segment stood as the largest segment in the overall smart speaker market worldwide and contributed to the lion’s share of the overall market value in 2017. Rising discretionary income coupled with changing lifestyles is expected to drive the adoption of smart speakers in the residential sector in the coming years. Moreover, the rising popularity of connected devices and smart homes worldwide is another factor aiding the smart speaker market’s growth during the forecast period. However, the adoption of smart speakers across offices is expected to be on the rise in the years to come. For instance, recently, at its annual Re: Invent conference held in Las Vegas, Amazon announced it plans to make its virtual assistant an essential office accessory that will be able to book conference rooms, launch meetings, and order stationery.

R&D Activities to Remain on Center Stage for the Players Operating in the Smart Speaker Market

Research and development activities are one of the most prominent strategies adopted by the players operating in the smart speaker market. These activities are directed towards improving existing products as well as developing new ones. With new companies entering the market, this strategy is expected to remain in the spotlight in the coming years. For instance, recently, Google announced its plans to launch a smart speaker with a display to take on the Amazon Echo. The product is expected to be unveiled at the Pixel launch event, which is likely to be in the first week of October 2018. Similarly, Motorola has plans to launch a smart speaker that will compete directly with the likes of the Amazon Echo and Google Home.

North America to Remain an Important Market Throughout the Forecast Period

North America was the largest regional market for smart speakers worldwide in 2017. The value share of North America in the global smart speaker market stood at more than 60% in 2017. The region is expected to maintain its dominance throughout the forecast period. The presence of a strong home automation industry in the region is one of the most prominent factors driving the smart speaker market. Furthermore, a greater proclivity for a sophisticated lifestyle among people in the region is another factor contributing to the growth of the smart speaker market. Furthermore, the fact that three of the leading virtual assistant providers—namely, Cortana (Microsoft), Alexa (Amazon), and Siri (Apple)—have headquarters in the region further contributes to the growth of the market in the region. The adoption of smart speakers among people in the U.S. has grown significantly in recent years. The magnitude of this growth can be understood from the fact that 16% of the U.S. population now owns a smart speaker.

Periods of History and Forecast

This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The report elucidates the detailed outline of the global smart speaker market by categorizing the market in terms of virtual assistant type, component, application, sales channel, and geography.

Key players profiled in the report include Amazon, Apple, Harman International, Sonos, Bose, Onkyo, Panasonic, Alibaba, Altec, Lenovo, and Xiaomi, among others.

Key questions are answered in this report.

• What was the size of the global smart speaker market in 2017, and what is the forecast for 2026?
• What are the current trends in the smart speaker market?
• What are the various valuable opportunities for the players in the market?
• Which is the largest regional market for smart speakers?
• Which region is expected to have the fastest growth and why?
• What are the future prospects for the smart speaker market?
• What are the major drivers and restraints influencing the market’s growth?
• What are the new innovations by the leading players?
• What are the key strategies adopted by the leading players in the market?

Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Market Segmentation
1.4 Research Methodology
1.4.1 Phase I – Secondary Research
1.4.2 Phase II – Primary Research
1.4.3 Phase III – Expert Panel Review
1.4.4 Assumptions
1.4.5 Approach Adopted

Chapter 2 Executive Summary
2.1 Market Snapshot: Global SS Market
2.2 Global SS Market, By Virtual Assistant Type, 2017
2.3 Global SS Market, By Application, 2017
2.4 Global SS Market, By Sales Channel, 2017
2.5 Global SS Market, By Component, 2017
2.6 Global SS Market, By Geography, 2017

Chapter 3 Market Dynamics
3.1 Market Overview
3.1.1 Global SS Market Value, 2016 – 2026, (US$ Bn)
3.2 Market Drivers
3.3 Market Restraints
3.3.1 Impact Analysis of Drivers and Restraints
3.4 Key Market Trends and Future Outlook
3.5 Attractive Investment Proposition, By Geography
3.6 Competitive Analysis
3.6.1 Market Positioning of Key Vendors
3.6.2 Key Strategies Adopted by the Leading Players

Chapter 4 Global Smart Speakers (SS) Market Analysis, By Virtual Assistant Type, 2016 – 2026
4.1 Market Analysis
4.2 Alexa
4.3 Google Assistant
4.4 Siri
4.5 Cortana
4.6 Others

Chapter 5 Global Smart Speakers (SS) Market Analysis, By Application, 2016 – 2026
5.1 Market Analysis
5.2 Residential
5.3 Offices

Chapter 6 Global Smart Speakers (SS) Market Analysis, By Sales Channel, 2016 – 2026
6.1 Market Analysis
6.2 Online
6.3 Offline

Chapter 7 Global Smart Speakers (SS) Market Analysis, By Component, 2016 – 2026
7.1 Market Analysis
7.2 Hardware
7.3 Software

Chapter 8 North America Smart Speakers (SS) Market Analysis, 2016 – 2026
8.1 Overview
8.2 North America SS Market Analysis, By Virtual Assistant Type, 2016 – 2026
8.2.1 Market Analysis
8.3 North America SS Market Analysis, By Application, 2016 – 2026
8.3.1 Market Analysis
8.4 North America SS Market Analysis, By Sales Channel, 2016 – 2026
8.4.1 Market Analysis
8.4 North America SS Market Analysis, By Component, 2016 – 2026
8.4.1 Market Analysis
8.5 North America SS Market Analysis, By Country, 2016 – 2026
8.5.1 U.S.
8.5.2 Canada

Chapter 9 Europe Smart Speakers (SS) Market Analysis, 2016 – 2026
9.1 Overview
9.2 Europe SS Market Analysis, By Virtual Assistant Type, 2016 – 2026
9.2.1 Market Analysis
9.3 Europe SS Market Analysis, By Application, 2016 – 2026
9.3.1 Market Analysis
9.4 Europe SS Market Analysis, By Sales Channel, 2016 – 2026
9.4.1 Market Analysis
9.4 Europe SS Market Analysis, By Component, 2016 – 2026
9.4.1 Market Analysis
9.5 Europe SS Market Analysis, By Country, 2016 – 2026
9.4.1 U.K.
9.4.2 Germany
9.4.3 France
9.4.4 Rest of Europe

Chapter 10 Asia Pacific Smart Speakers (SS) Market Analysis, 2016 – 2026
10.1 Overview
10.2 Asia Pacific SS Market Analysis, By Virtual Assistant Type, 2016 – 2026
10.2.1 Market Analysis
10.3 Asia Pacific SS Market Analysis, By Application, 2016 – 2026
10.3.1 Market Analysis
10.4 Asia Pacific SS Market Analysis, By Sales Channel, 2016 – 2026
10.4.1 Market Analysis
10.4 Asia Pacific SS Market Analysis, By Component, 2016 – 2026
10.4.1 Market Analysis
10.5 Asia Pacific SS Market Analysis, By Country, 2016 – 2026
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 Rest of Asia Pacific

Chapter 11 Rest of the World Smart Speakers (SS) Market Analysis, 2016 – 2026
11.1 Overview
11.2 Rest of the World SS Market Analysis, By Virtual Assistant Type, 2016 – 2026
11.2.1 Market Analysis
11.3 Rest of the World SS Market Analysis, By Application, 2016 – 2026
11.3.1 Market Analysis
11.4 Rest of the World SS Market Analysis, By Sales Channel, 2016 – 2026
11.4.1 Market Analysis
11.4 Rest of the World SS Market Analysis, By Component, 2016 – 2026
11.4.1 Market Analysis
11.5 Rest of the World SS Market Analysis, By Region, 2016 – 2026
11.4.1 Latin America
11.4.2 Middle East & Africa

Chapter 12 Company Profiles
12.1 Amazon
12.2 Apple
12.3 Harman International
12.4 Sonos
12.5 Bose
12.6 Onkyo
12.7 Panasonic
12.8 Alibaba
12.9 Altec
12.10 Lenovo
12.11 Xiaomi

List of Figures

FIG. 1 Global Smart Speakers (SS) Market Segmentation
FIG. 2 Global SS Market: Research Methodology
FIG. 3 Top-Down and Bottom Up Approach
FIG. 4 Global SS Market, By Virtual Assistant Type, 2017 (US$ Bn)
FIG. 5 Global SS Market, By Application, 2017 (US$ Bn)
FIG. 6 Global SS Market, By Sales Channel, 2017 (US$ Bn)
FIG. 7 Global SS Market, By Component, 2017 (US$ Bn)
FIG. 8 Global SS Market, By Geography, 2017 (US$ Bn)
FIG. 9 Global SS Market Value, 2016 – 2026, (US$ Bn)
FIG. 10 Attractive Investment Proposition, by Geography
FIG. 11 Market Positioning of Key Smart Speakers Players, 2017
FIG. 12 Global SS Market Value Contribution, By Virtual Assistant Type, 2017 & 2026 (%)
FIG. 13 Global SS Market Value from Alexa, 2016 – 2026, (US$ Bn)
FIG. 14 Global SS Market Value from Google Assistant, 2016 – 2026, (US$ Bn)
FIG. 15 Global SS Market Value from Siri, 2016 – 2026, (US$ Bn)
FIG. 16 Global SS Market Value from Cortana, 2016 – 2026, (US$ Bn)
FIG. 17 Global SS Market Value from Others, 2016 – 2026, (US$ Bn)
FIG. 18 Global SS Market Value Contribution, By Application, 2017 & 2026 (%)
FIG. 19 Global SS Market Value from Residential, 2016 – 2026, (US$ Bn)
FIG. 20 Global SS Market Value from Offices, 2016 – 2026, (US$ Bn)
FIG. 21 Global SS Market Value Contribution, By Sales Channel, 2017 & 2026 (%)
FIG. 22 Global SS Market Value from Online Sales, 2016 – 2026, (US$ Bn)
FIG. 23 Global SS Market Value from Offline Sales, 2016 – 2026, (US$ Bn)
FIG. 24 Global SS Market Value Contribution, By Component, 2017 & 2026 (%)
FIG. 25 Global SS Market Value from Hardware, 2016 – 2026, (US$ Bn)
FIG. 26 Global SS Market Value from Software, 2016 – 2026, (US$ Bn)
FIG. 27 North America SS Market Value, 2016 – 2026, (US$ Bn)
FIG. 28 Europe SS Market Value, 2016 – 2026, (US$ Bn)
FIG. 29 Asia Pacific SS Market Value, 2016 – 2026, (US$ Bn)
FIG. 30 RoW SS Market Value, 2016 – 2026, (US$ Bn)

List of Tables

TABLE 1 Market Snapshot: Global Smart Speakers (SS) Market
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 North America SS Market Value, By Virtual Assistant Type, 2016 – 2026 (US$ Bn)
TABLE 5 North America SS Market Value, By Application, 2016 – 2026 (US$ Bn)
TABLE 6 North America SS Market Value, By Sales Channel, 2016 – 2026 (US$ Bn)
TABLE 7 North America SS Market Value, By Component, 2016 – 2026 (US$ Bn)
TABLE 8 North America SS Market Value, By Country, 2016 – 2026 (US$ Bn)
TABLE 9 Europe SS Market Value, By Virtual Assistant Type, 2016 – 2026 (US$ Bn)
TABLE 10 Europe SS Market Value, By Application, 2016 – 2026 (US$ Bn)
TABLE 11 Europe SS Market Value, By Sales Channel, 2016 – 2026 (US$ Bn)
TABLE 12 Europe SS Market Value, By Component, 2016 – 2026 (US$ Bn)
TABLE 13 Europe SS Market Value, By Country, 2016 – 2026 (US$ Bn)
TABLE 14 Asia Pacific SS Market Value, By Virtual Assistant Type, 2016 – 2026 (US$ Bn)
TABLE 15 Asia Pacific SS Market Value, By Application, 2016 – 2026 (US$ Bn)
TABLE 16 Asia Pacific SS Market Value, By Sales Channel, 2016 – 2026 (US$ Bn)
TABLE 17 Asia Pacific SS Market Value, By Componentl, 2016 – 2026 (US$ Bn)
TABLE 18 Asia Pacific SS Market Value, By Country, 2016 – 2026 (US$ Bn)
TABLE 19 Rest of the World (Row) SS Market Value, By Virtual Assistant Type, 2016 – 2026 (US$ Bn)
TABLE 20 Rest of the World (Row) SS Market Value, By Application, 2016 – 2026 (US$ Bn)
TABLE 21 Rest of the World (Row) SS Market Value, By Sales Channel, 2016 – 2026 (US$ Bn)
TABLE 22 Rest of the World (RoW) SS Market Value, By Componentl, 2016 – 2026 (US$ Bn)
TABLE 23 Rest of the World (Row) SS Market Value, By Country, 2016 – 2026 (US$ Bn)
TABLE 24 Amazon: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 25 Apple: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 26 Harman International: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 27 Sonos: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 28 Bose: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 29 Onkyo: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 30 Panasonic: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 31 Alibaba: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 32 Altec: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 32 Lenovo: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 33 Xiaomi: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)