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Smart Speaker Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 25.98% |
Market growth 2021-2025 |
$ 20.72 billion |
Market structure |
Fragmented |
YoY growth (%) |
20.87 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 40% |
Key consumer countries |
US, China, UK, Germany, and Australia |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Apple Inc., Lenovo Group Ltd., LG Electronics Inc., Onkyo Corp., Samsung Electronics Co. Ltd., Sony Group Corp., and Xiaomi Corp. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Rapidly Increasing Unit Sales of Smart Speakers to Drive the Market Growth
Vendors such as Amazon, Alphabet (Google), Alibaba, Baidu, Xiaomi, and Apple are prominent in the market. For instance, with its range of Alexa-enabled Echo products, Amazon led the overall smart speaker market for Q4 2020 with a 28.3% share of global shipments with 16.5 million units with year-over-year growth of 4%. Google established itself as the second-largest player in the global smart speaker market, though its number of shipments of smart speakers dropped by 5% in Q4 2020. Google held a 22.6% market share and shipped 13.2 million units of smart speakers in Q4 2020. China-based Baidu and Alibaba both shipped 6.6 million and 6.3 million units of smart speakers, respectively, in Q4 2020. The huge amount of revenue generated will encourage vendors to introduce low-budget speakers to achieve optimum market penetration, which will positively impact the market in focus during the forecast period.
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Smart Speaker Market 2021-2025: Segmentation
- End-user
- Residential Users
- Commercial Users
The smart speaker market share growth by the residential users segment will be significant during the forecast period. The rise in popularity of digital content and subscription services such as Amazon Prime, Netflix, and YouTube, as well as other digital content platforms is increasing the demand for smart speakers in households globally, which will drive the growth in this segment. Other factors such as home renovation projects will further increase the demand for smart devices such as speakers.
- Geography
- North America
- Europe
- APAC
- South America
- MEA
The 40% of the market's growth will originate from North America during the forecast period. The US is the key market for smart speakers in North America. Market growth in this region will be faster than the growth of the market in Europe, South America, and MEA. The presence of key vendors such as Alphabet Inc., Amazon.com Inc., Apple Inc., and Sonos Inc. and the growing necessity of smart speakers in households for numerous applications such as streaming music, finding recipes, and making a purchase will facilitate the smart speaker market growth in North America over the forecast period.
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Smart Speaker Market 2021-2025: Vendor Analysis and Scope
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Alibaba Group Holding Ltd.
- Alphabet Inc.
- Amazon.com Inc.
- Apple Inc.
- Lenovo Group Ltd.
- LG Electronics Inc.
- Onkyo Corp.
- Samsung Electronics Co. Ltd.
- Sony Group Corp.
- Xiaomi Corp.
Moreover, the smart speaker market is fragmented and the vendors are deploying growth strategies such as product innovation and promotion on social media platforms to compete in the market.
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The Report also Covers the Following Areas:
Smart Speaker Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist smart speaker market growth during the next five years
- Estimation of the smart speaker market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the smart speaker market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of smart speaker market vendors
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Table of Contents
1. Executive Summary
1.1 Market Overview
Exhibit 01: Key Finding 1
Exhibit 02: Key Finding 2
Exhibit 03: Key Finding 3
Exhibit 04: Key Finding 5
Exhibit 05: Key Finding 6
Exhibit 06: Key Finding 7
Exhibit 07: Key Finding 8
2. Market Landscape
2.1 Market ecosystem
Exhibit 08: Parent market
Exhibit 09: Market characteristics
2.2 Value chain analysis
Exhibit 10: Value chain analysis: Consumer electronics
2.2.1 Inputs
2.2.2 Inbound logistics
2.2.3 Operations
2.2.4 Outbound logistics
2.2.5 Marketing and sales
2.2.6 Service
3. Market Sizing
3.1 Market definition
Exhibit 11: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 12: Market segments
3.3 Market size 2020
3.4 Market outlook: Forecast for 2020 - 2025
3.4.1 Estimating growth rates for emerging and high-growth markets
3.4.2 Estimating growth rates for mature markets
Exhibit 13: Global - Market size and forecast 2020 - 2025 ($ million)
Exhibit 14: Global market: Year-over-year growth 2020 - 2025 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 15: Five forces analysis 2020 & 2025
4.2 Bargaining power of buyers
Exhibit 16: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 17: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 18: Threat of new entrants
4.5 Threat of substitutes
Exhibit 19: Threat of substitutes
4.6 Threat of rivalry
Exhibit 20: Threat of rivalry
4.7 Market condition
Exhibit 21: Market condition - Five forces 2020
5 Market Segmentation by End-user
5.1 Market segments
Exhibit 22: End-user - Market share 2020-2025 (%)
5.2 Comparison by End-user
Exhibit 23: Comparison by End-user
5.3 Residential users - Market size and forecast 2020-2025
Exhibit 24: Residential users - Market size and forecast 2020-2025 ($ million)
Exhibit 25: Residential users - Year-over-year growth 2020-2025 (%)
5.4 Commercial users - Market size and forecast 2020-2025
Exhibit 26: Commercial users - Market size and forecast 2020-2025 ($ million)
Exhibit 27: Commercial users - Year-over-year growth 2020-2025 (%)
5.5 Market opportunity by End-user
Exhibit 28: Market opportunity by End-user
6. Customer landscape
6.1 Overview
Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
Exhibit 29: Customer landscape
7. Geographic Landscape
7.1 Geographic segmentation
Exhibit 30: Market share by geography 2020-2025 (%)
7.2 Geographic comparison
Exhibit 31: Geographic comparison
7.3 North America - Market size and forecast 2020-2025
Exhibit 32: North America - Market size and forecast 2020-2025 ($ million)
Exhibit 33: North America - Year-over-year growth 2020-2025 (%)
7.4 Europe - Market size and forecast 2020-2025
Exhibit 34: Europe - Market size and forecast 2020-2025 ($ million)
Exhibit 35: Europe - Year-over-year growth 2020-2025 (%)
7.5 APAC - Market size and forecast 2020-2025
Exhibit 36: APAC - Market size and forecast 2020-2025 ($ million)
Exhibit 37: APAC - Year-over-year growth 2020-2025 (%)
7.6 South America - Market size and forecast 2020-2025
Exhibit 38: South America - Market size and forecast 2020-2025 ($ million)
Exhibit 39: South America - Year-over-year growth 2020-2025 (%)
7.7 MEA - Market size and forecast 2020-2025
Exhibit 40: MEA - Market size and forecast 2020-2025 ($ million)
Exhibit 41: MEA - Year-over-year growth 2020-2025 (%)
7.8 Key leading countries
Exhibit 42: Key leading countries
7.9 Market opportunity by geography
Exhibit 43: Market opportunity by geography
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Rapidly increasing unit sales of smart speakers
8.1.2 Growing necessity of smart speakers in households
8.1.3 Rising demand for smart speakers from non-English speaking countries
8.2 Market challenges
8.2.1 Privacy and security threats associated with smart speakers
8.2.2 Threat from fake setup apps and counterfeit products
8.2.3 Availability of substitutes
Exhibit 44: Impact of drivers and challenges
8.3 Market trends
8.3.1 Increasing popularity of voice commerce
8.3.2 Strong distribution network between manufacturers and retailers
8.3.3 Growth in prominence of smart displays
9. Vendor Landscape
9.1 Overview
Exhibit 45: Vendor landscape
The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025.
9.2 Landscape disruption
Exhibit 46: Landscape disruption
Exhibit 47: Industry risks
10. Vendor Analysis
10.1 Vendors covered
Exhibit 48: Vendors covered
10.2 Market positioning of vendors
Exhibit 49: Market positioning of vendors
10.3 Alibaba Group Holding Ltd.
Exhibit 50: Alibaba Group Holding Ltd. - Overview
Exhibit 51: Alibaba Group Holding Ltd. - Business segments
Exhibit 52: Alibaba Group Holding Ltd. - Key offerings
Exhibit 53: Alibaba Group Holding Ltd. - Segment focus
10.4 Alphabet Inc.
Exhibit 54: Alphabet Inc. - Overview
Exhibit 55: Alphabet Inc. - Business segments
Exhibit 56: Alphabet Inc. - Key offerings
Exhibit 57: Alphabet Inc. - Segment focus
10.5 Amazon.com Inc.
Exhibit 58: Amazon.com Inc. - Overview
Exhibit 59: Amazon.com Inc. - Business segments
Exhibit 60: Amazon.com Inc. - Key offerings
Exhibit 61: Amazon.com Inc. - Segment focus
10.6 Apple Inc.
Exhibit 62: Apple Inc. - Overview
Exhibit 63: Apple Inc. - Business segments
Exhibit 64: Apple Inc. - Key news
Exhibit 65: Apple Inc. - Key offerings
Exhibit 66: Apple Inc. - Segment focus
10.7 Lenovo Group Ltd.
Exhibit 67: Lenovo Group Ltd. - Overview
Exhibit 68: Lenovo Group Ltd. - Business segments
Exhibit 69: Lenovo Group Ltd. - Key offerings
Exhibit 70: Lenovo Group Ltd. - Segment focus
10.8 LG Electronics Inc.
Exhibit 71: LG Electronics Inc. - Overview
Exhibit 72: LG Electronics Inc. - Business segments
Exhibit 73: LG Electronics Inc. - Key offerings
Exhibit 74: LG Electronics Inc. - Segment focus
10.9 Onkyo Corp.
Exhibit 75: Onkyo Corp. - Overview
Exhibit 76: Onkyo Corp. - Product and service
Exhibit 77: Onkyo Corp. - Key offerings
Exhibit 78: Onkyo Corp. - Key customers
Exhibit 79: Onkyo Corp. - Segment focus
10.10 Samsung Electronics Co. Ltd.
Exhibit 80: Samsung Electronics Co. Ltd. - Overview
Exhibit 81: Samsung Electronics Co. Ltd. - Business segments
Exhibit 82: Samsung Electronics Co. Ltd. - Key offerings
Exhibit 83: Samsung Electronics Co. Ltd. - Segment focus
10.11 Sony Group Corp.
Exhibit 84: Sony Group Corp. - Overview
Exhibit 85: Sony Group Corp. - Business segments
Exhibit 86: Sony Group Corp. - Key offerings
Exhibit 87: Sony Group Corp. - Segment focus
10.12 Xiaomi Corp.
Exhibit 88: Xiaomi Corp. - Overview
Exhibit 89: Xiaomi Corp. - Business segments
Exhibit 90: Xiaomi Corp. - Key offerings
Exhibit 91: Xiaomi Corp. - Segment focus
11. Appendix
11.1 Scope of the report
11.1.1 Market definition
11.1.2 Objectives
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 92: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 93: Research Methodology
Exhibit 94: Validation techniques employed for market sizing
Exhibit 95: Information sources
11.4 List of abbreviations
Exhibit 96: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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