Smart Speaker Market Smart Speaker Market and Top Companies
Amazon Inc. (US) − Amazon is an e-commerce and cloud computing company offering a range of products and services through its websites. The company also manufactures and sells electronic devices, including Kindle e-readers, Fire tablets, Fire TVs, and Echo. It sells Echo series products under the retail segment. The company keeps on innovating its smart speaker series. Some of the Echo products launched by the company include Echo Dot and Echo Show. The company also offers its voice assistance platform, Alexa, for smart speakers.
Amazon is an e-commerce and cloud computing company offering a range of products and services through its websites. The company also manufactures and sells electronic devices, including Kindle e-readers, Fire tablets, Fire TVs, and Echo. It sells Echo series products under the retail segment. The company keeps on innovating its smart speaker series. Some of the Echo products launched by the company include Echo Dot and Echo Show. The company also offers its voice assistance platform, Alexa, for smart speakers. Harman International (US) − Harman operates as Samsung’s subsidiary. Harman International engages in designing, manufacturing, and marketing audio and infotainment solutions for automotive, consumer, and professional markets supported by brands such as AKG Acoustics (Australia), Harman Kardon (US), Infinity (US), JBL Incorporated (US), Lexicon (US), and Mark Levinson Audio System (US). The company offers various smart speakers through its subsidiaries—Harman Kardon (US) and JBL Incorporated (US). Harman Kardon offers Harman Kardon Allure and Invoke, while JBL Incorporated offers JBL Link 10, JBL Link 20, JBL Link 300, and JBL LINK View.
Harman operates as Samsung’s subsidiary. Harman International engages in designing, manufacturing, and marketing audio and infotainment solutions for automotive, consumer, and professional markets supported by brands such as AKG Acoustics (Australia), Harman Kardon (US), Infinity (US), JBL Incorporated (US), Lexicon (US), and Mark Levinson Audio System (US). The company offers various smart speakers through its subsidiaries—Harman Kardon (US) and JBL Incorporated (US). Harman Kardon offers Harman Kardon Allure and Invoke, while JBL Incorporated offers JBL Link 10, JBL Link 20, JBL Link 300, and JBL LINK View. Apple Inc. (US) − Apple designs, manufactures, and sells mobile communication and media devices, personal computers, and portable digital music players. In July 2017, the company launched HomePod, a wireless speaker. HomePod is a voice control device with an array of 6 microphones. The speaker is equipped with the features of Siri with wireless access to the entire Apple Music Library.
− Apple designs, manufactures, and sells mobile communication and media devices, personal computers, and portable digital music players. In July 2017, the company launched HomePod, a wireless speaker. HomePod is a voice control device with an array of 6 microphones. The speaker is equipped with the features of Siri with wireless access to the entire Apple Music Library. Sonos (US) – Sonos manufactures wireless music systems, which include speakers, home theatres, and speaker components. The company offers its products online as well as through retail stores in more than 50 countries. The company’s product line includes Internet-connected speakers and hubs that are compatible with more than 60 Internet services, such as Apple’s Beats Music, Spotify, iHeartRadio, MOG, QQ Music, Amazon Music, and Pandora.
– Sonos manufactures wireless music systems, which include speakers, home theatres, and speaker components. The company offers its products online as well as through retail stores in more than 50 countries. The company’s product line includes Internet-connected speakers and hubs that are compatible with more than 60 Internet services, such as Apple’s Beats Music, Spotify, iHeartRadio, MOG, QQ Music, Amazon Music, and Pandora. Google Inc. (US) – Alphabet is the parent company of Google and primarily focuses on areas such as advertising, search, operating systems & platforms, and enterprise and hardware products. Google Home is a line of smart speakers developed under the Google Nest brand. The devices enable users to speak voice commands to interact with services through Google Assistant, the company's virtual assistant. Google Home allows to listen to music, control playback of videos or photos, or receive news updates entirely by voice. Google Nest devices also have integrated support for home automation, letting users control smart home appliances with voice commands.
– Alphabet is the parent company of Google and primarily focuses on areas such as advertising, search, operating systems & platforms, and enterprise and hardware products. Google Home is a line of smart speakers developed under the Google Nest brand. The devices enable users to speak voice commands to interact with services through Google Assistant, the company's virtual assistant. Google Home allows to listen to music, control playback of videos or photos, or receive news updates entirely by voice. Google Nest devices also have integrated support for home automation, letting users control smart home appliances with voice commands. Bose Corporation (US) – Bose engineers, designs, develop, researches, markets, and retails sound systems. The company offers various speakers, such as portable speakers, multiroom speakers, home theatres, and stereo speakers. It also offers speaker accessories and portable personal amplification (PA) systems. Bose offers smart speakers compatible with Siri or Google Assistant.
– Bose engineers, designs, develop, researches, markets, and retails sound systems. The company offers various speakers, such as portable speakers, multiroom speakers, home theatres, and stereo speakers. It also offers speaker accessories and portable personal amplification (PA) systems. Bose offers smart speakers compatible with Siri or Google Assistant. Alibaba (China) – Alibaba works as an online and mobile business organization. The company provides online and mobile marketplaces in retail and wholesale trade, along with cloud computing and other services. The company offers Tmall Genie X1, an AI-enabled personal assistant smart speaker, under its retail segment. AliGenie is the AI platform powering Tmall Genie.
– Alibaba works as an online and mobile business organization. The company provides online and mobile marketplaces in retail and wholesale trade, along with cloud computing and other services. The company offers Tmall Genie X1, an AI-enabled personal assistant smart speaker, under its retail segment. AliGenie is the AI platform powering Tmall Genie. Lenovo (China) – Lenovo designs, develops, manufactures, and sells PCs, tablets, computers, smartphones, workstations, servers, electronic storage devices, IT management software, and smart televisions. It offers voice-controlled Lenovo Smart Display 7, Lenovo Smart Display 8, Lenovo Smart Display 10, and smart clock in the smart speaker market. This smart speaker is integrated with Google Assistant that helps users control smart devices through voice commands. The company also offers Home Assistant Pack, a voice-activated smart assistant with a screen integrated with Amazon Alexa.
– Lenovo designs, develops, manufactures, and sells PCs, tablets, computers, smartphones, workstations, servers, electronic storage devices, IT management software, and smart televisions. It offers voice-controlled Lenovo Smart Display 7, Lenovo Smart Display 8, Lenovo Smart Display 10, and smart clock in the smart speaker market. This smart speaker is integrated with Google Assistant that helps users control smart devices through voice commands. The company also offers Home Assistant Pack, a voice-activated smart assistant with a screen integrated with Amazon Alexa. Baidu (China) – The company provides image search, online storage, enterprise search, news, voice assistance, multimedia files, and algorithmic search on its website. As a result of Baidu's acquisition of Raven Tech in February 2017, Baidu launched its first smart speaker—Raven H—with voice-controlled intelligent personal assistant service, DuerOS. DuerOS is installed on smart devices (in homes and hotels), smartphones, children’s watches, and story machines. It also released four DuerOS-powered Xiaodu branded smart devices in 2018, including Xiaodu smart speaker and Xiaodu smart display, the first smart speaker in China with a display.
Smart Speaker Market and Top Intelligent Virtual Assistants
Alexa − Alexa is a highly preferred voice assistant for smart speakers. Alexa smart speakers are offered by companies such as Onkyo (Japan), Pioneer Electronics (Japan), Sonos (US), Harman International (US), Altec Lansing (US), Lenovo (US), Invoxia (France), and Ultimate Ears (US). Alexa offered by Amazon was the first voice assistant used in Echo smart speakers. The company launched Alexa IVA smart speaker Echo in 2014. Since then, the platform is used in Amazon’s Echo device series and smart speakers offered by most companies.
Alexa is a highly preferred voice assistant for smart speakers. Alexa smart speakers are offered by companies such as Onkyo (Japan), Pioneer Electronics (Japan), Sonos (US), Harman International (US), Altec Lansing (US), Lenovo (US), Invoxia (France), and Ultimate Ears (US). Alexa offered by Amazon was the first voice assistant used in Echo smart speakers. The company launched Alexa IVA smart speaker Echo in 2014. Since then, the platform is used in Amazon’s Echo device series and smart speakers offered by most companies. Google Assistant − Google Assistant smart speakers are offered by companies such as Onkyo (Japan), Panasonic (Japan), Sony (Japan), Harman International (US), and Altec Lansing (US). In 2016, the company launched Google Assistant IVA for Google Home speakers. Google Assistant is supported by the data generated from its web search engine. It gives contextual information and generally gives longer and informative answers. Google Assistant also works with Google’s online services and cites source websites while providing the information.
Google Assistant smart speakers are offered by companies such as Onkyo (Japan), Panasonic (Japan), Sony (Japan), Harman International (US), and Altec Lansing (US). In 2016, the company launched Google Assistant IVA for Google Home speakers. Google Assistant is supported by the data generated from its web search engine. It gives contextual information and generally gives longer and informative answers. Google Assistant also works with Google’s online services and cites source websites while providing the information. Siri − Siri voice assistant is one of the most advanced IVA technologies offered by Apple. Consumers who own an iPhone are most comfortable with Siri-enabled smart speakers. Siri can speak more than 20 languasges with localized accents for many languages, including English, French, Arabic, Cantonese, Mandarin, Korean, and Japanese. Moreover, the increasing demand for the HomeKit platform in home automation products creates a demand for Siri-enabled smart speakers.
Siri voice assistant is one of the most advanced IVA technologies offered by Apple. Consumers who own an iPhone are most comfortable with Siri-enabled smart speakers. Siri can speak more than 20 languasges with localized accents for many languages, including English, French, Arabic, Cantonese, Mandarin, Korean, and Japanese. Moreover, the increasing demand for the HomeKit platform in home automation products creates a demand for Siri-enabled smart speakers. Baidu − DuerOS is a conversational AI system developed by Baidu's Duer Business Unit. DuerOS is based on the same kind of conversational abilities as Amazon’s Alexa and Google Assistant. Baidu’s current smart devices and new additions all use the company’s DuerOS assistant. It is Baidu’s voice assistant. DuerOS can support a wide range of hardware, devices such as mobile phones, televisions, speakers, household appliances, automobiles, and robots.
DuerOS is a conversational AI system developed by Baidu's Duer Business Unit. DuerOS is based on the same kind of conversational abilities as Amazon’s Alexa and Google Assistant. Baidu’s current smart devices and new additions all use the company’s DuerOS assistant. It is Baidu’s voice assistant. DuerOS can support a wide range of hardware, devices such as mobile phones, televisions, speakers, household appliances, automobiles, and robots. AliGenie − Alibaba Group Holding’s AI Labs unit in 2017 introduced AliGenie, an open development platform for voice-assistant applications for the Chinese market. AliGenie is the voice assistant, or to the human-machine interaction system, behind Tmall Genie smart speakers. The platform provides developers with functions including wake-on-voice, voice recognition, voiceprint recognition, semantic understanding, and speech synthesis to assist in the creation of new voice-based applications, which can be added to the AliGenie store.
Smart Speaker Market and Top Applications
Smart Home – Smart home is the major application of smart speakers owing to their features and usability. Smart speakers can control smart devices with the user’s voice, thus making day-to-day tasks easy. With a voice command, the user can control all smart devices by connecting the device to the Internet. Smart speakers understand the natural way of speaking and are less complicated to operate than other smart devices, making them an easy-to-use tool for the elderly and busy people.
– Smart home is the major application of smart speakers owing to their features and usability. Smart speakers can control smart devices with the user’s voice, thus making day-to-day tasks easy. With a voice command, the user can control all smart devices by connecting the device to the Internet. Smart speakers understand the natural way of speaking and are less complicated to operate than other smart devices, making them an easy-to-use tool for the elderly and busy people. Consumer − Smart speakers are increasingly adopted by the consumer owing to the convenience offered by the device. Smart speakers can control any smart devices through a smartphone and Internet connection. Further, smartphone users play a crucial role in increasing the adoption of voice-enabled apps, which, in turn, increases the demand for voice-controlled products, including smart speakers.
− Smart speakers are increasingly adopted by the consumer owing to the convenience offered by the device. Smart speakers can control any smart devices through a smartphone and Internet connection. Further, smartphone users play a crucial role in increasing the adoption of voice-enabled apps, which, in turn, increases the demand for voice-controlled products, including smart speakers. Smart Office − Smart offices are getting more advanced with the increasing deployment of smart speakers. Smart speakers that make life easier and efficient for consumers in smart homes can be employed in work settings as well. Smart speakers are physically made to be compatible with office surroundings. Convenience is the key factor for the increasing demand for smart speakers in office automation. In a smart office environment, especially in customer service applications in retail and call centers, smart speakers know how the business is doing at present and help business owners make better and quick business decisions.
[136] The global smart speaker market size is expected to reach USD 15.6 billion by 2025 from USD 7.1 billion in 2020, at a CAGR of 17.1%. The growth of the smart speaker market can be attributed to the growing demand for smart speaker display, the increasing number of smart homes, rising disposable income, and the rapid proliferation of multifunctional devices.
Alexa is expected to hold a major share of the smart speaker market during the forecast period
Amazon launched the Alexa IVA smart speaker Echo in 2014. Since then, the platform is used in Amazon’s Echo device series and smart speakers offered by most companies. Alexa speaker is offered in more than 80 countries, thus covering a wide audience from which the company gathers usage data and continually improves its service. The increasing sales of electronic devices are expected to drive the growth of the segment.
The smart home segment to be the largest contributor to the smart speaker market during the forecast period
Smart home is the major application of smart speakers owing to their features and usability. Smart speakers can control smart devices with the user’s voice, thus making day-to-day tasks easy. With a voice command, the user can control all smart devices by connecting the device to the Internet. Smart speakers understand the natural way of speaking and are less complicated to operate than other smart devices. The changing lifestyles, increasing per capita income, and the inclination of smart home owners toward luxurious entertainment systems have spurred the demand for smart speakers in smart homes.
The increasing penetration of smart devices in APAC countries, along with the rising market share of Chinese players such as Baidu, Alibaba, and Xiaomi, who have launched smart speakers with local language support, is expected to fuel the demand for smart speakers in the region.
The software segment to grow at the highest CAGR during the forecast period
In the coming years, smart speakers will expand their operations. To perform these operations, more data would be sensed or processed by smart speakers. To process this large volume of data, advanced software would be needed. Hence, there would be a requirement for advanced software that can work on a complex set of databases.
North America to continue to hold the largest market share of the smart speaker market during the forecast period
North American countries such as the US, Canada, and Mexico are receptive to products enabled with advanced technologies. The penetration of smart speakers in North American countries, especially in the US, is high owing to the presence of early adopters and key smart speaker providers. The willingness of customers to accept and use new technologies has also encouraged manufacturers in the region to develop new and advanced products. Key players such as Amazon, Google, Apple, and Bose that smart speakers are based in the US, due to which most products are launched and shipped first in this region.
Key Market Players
Amazon, Inc (Amazon) (US), Apple Inc. (Apple) (US), Alphabet Inc (Alphabet) (US), Baidu, Inc (Baidu) (China), Alibaba Group (Alibaba) (China), Lenovo Group Ltd. (Lenovo) (China), and Xiaomi Inc. (Xiaomi) (China) are among the major players in the smart speaker market.
Get online access to the report on the World's First Market Intelligence Cloud Easy to Download Historical Data & Forecast Numbers
Easy to Download Historical Data & Forecast Numbers Company Analysis Dashboard for high growth potential opportunities
Company Analysis Dashboard for high growth potential opportunities Research Analyst Access for customization & queries
Research Analyst Access for customization & queries Competitor Analysis with Interactive dashboard
Competitor Analysis with Interactive dashboard Latest News, Updates & Trend analysis Request Sample Click on image to enlarge Scope of the Report
Report Metric Details Review period 2017–2025 Base year 2019 Forecast period 2020–2025 Forecast units Value (USD) in million/billion Segments covered Intelligent Virtual Assistant
Component
Application Regions covered North America
Europe
APAC
RoW Companies covered Amazon, Inc (Amazon) (US), Harman International (US), Apple Inc. (Apple) (US), Sonos (US), Alphabet Inc (Alphabet) (US), Baidu, Inc (Baidu) (China), Bose Corporation (Bose) (US), Sony Corporation (Sony) (Japan), Onkyo Corporation (Onkyo) (Japan), Samsung Electronics (Samsung) (South Korea), Panasonic Corporation (Panasonic) (Japan), Alibaba Group (Alibaba) (China), Altec Lansing (US), Lenovo Group Ltd. (Lenovo) (China), Xiaomi Inc. (Xiaomi) (China), SK Telecom Co., Ltd. (SK Telecom) (South Korea), Facebook (US), and LG Electronics (South Korea)
Smart Speaker Market Segmentation:
The global smart speaker market, in this research report, was segmented on the basis of the below segments.
Smart Speaker Market by Intelligent Virtual Assistant
Alexa
Google Assistant
DuerOS
AliGenie
Xiao AI
Siri
Others
Smart Speaker Market by Component
Hardware
Software
Smart Speaker Market by Application:
Smart Home
Consumer
Smart Office
Others
Smart Speaker Market by Region:
North America
Europe
APAC
RoW
Recent Developments
In September 2019, Amazon introduced an all-new line-up of Echo devices to access Alexa at home with the all-new Echo, Echo Flex, Echo Dot with clock, and Echo Show 8. Echo Studio is the company’s best-sounding Echo and the first smart speaker to deliver an immersive, three-dimensional audio experience, with Dolby Atmos.
In December 2019, Baidu launched its latest Xiaodu Smart Display X8 smart speaker for the Chinese market. The new smart home device offers an 8-inch full-view touchscreen display with 1280×800 resolution and a robust four-microphone array to facilitate far-field voice interactions. The X8 supports multiple biometric modalities, including face and gesture recognition.
Critical questions the report answers
Where will all the developments take the industry in the mid to long term?
Which are the different regions that are expected to drive the demand for smart speakers during the forecast period?
Which are the key strategies adopted by leading companies in the smart speaker market?
What are the trends prevalent in the smart speaker market?
Which applications are expected to drive the smart speaker market in the next five years?
People Also Ask (PAA)
What is Smart Speaker?
It is a type of wireless speaker and voice command device with an intelligent virtual assistant offers its users a way to interact with the speaker and operate other smart devices such as smart thermostats, light bulbs amongst others.
How big is Smart Speaker Market?
The Smart Speaker Market is worth USD 8.4 Billion in 2019 and is expected to reach USD 15.6 Billion by 2025.
Is Smart Speaker in Demand?
Yes, Smart Speakers are in demand owing to the increasing number of smart homes, rising disposable income, growing trend of personalization, and rapid proliferation of multifunctional devices.
How fast is Smart Speaker Market Growing?
The smart speaker market is expected to grow at a CAGR of 17.1% (Units) between 2020 and 2025.
What is Smart Speaker Applications?
The Smart Speaker market applications include Smart Home, Consumer, Smart Office and Others (Automotive and Commercial). Changing lifestyles, increasing per capita income, and the inclination of smart home owners toward luxurious entertainment systems have spurred the demand for smart speakers in smart homes.
What are the Examples of Smart Speakers?
Smart Speakers can be used to switch on music, ask question about the tweather or the traffic, set alarms and reminders, make hands-free calls and control any Alexa-compatible devices including plugs, light bulbs and other smart speakers.
Who is the Leader in Smart Speaker Market?
Amazon(us) is the leader in the Smart Speaker Market. Amazon sells Echo series products under its retail segment. Some of the Echo products launched by the company include Echo Dot and Echo Show.
What is the future of Smart Speaker?
The smart office application is expected to grow at a high CAGR during the forecast period. In a smart office environment, smart speakers can reserve meeting rooms, extend their meetings, or set reminders for conference calls through voice commands to smart speakers.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
April 10,2022 Post by :Luka Müller