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Market Research Report
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1065784

Smart Speaker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Published: | IMARC Services Private Limited | 148 Pages | Delivery time: 2-3 business days

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Smart Speaker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
Published: March 15, 2022
IMARC Services Private Limited
Content info: 148 Pages
Delivery time: 2-3 business days
  • Description
  • Table of Contents
  • List of Tables

The global smart speaker market reached a value of US$ 5.08 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 21.94 Billion by 2027 exhibiting a CAGR of 26.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Smart speakers refer to wireless, internet-enabled devices with an integrated voice assistant to help individuals with daily tasks. They are equipped with voice recognition technology to recognize and respond to voice commands. They are widely used to play music, get weather information, stream live news, read e-books, lock doors, monitor security, and set alarms, reminders and timers. They can also be utilized for GPS navigation and controlling other smart home devices, such as adjusting the thermostat and turning on/off the lights. In recent years, smart speakers have gained immense popularity due to their excellent connectivity, portability, cost-effectiveness, ease of use, and intelligent features.

Smart Speaker Market Trends:

  • The increasing number of smart homes and the rising popularity of multifunctional devices represent the primary factors driving the market growth. Smart speakers to function as a centralized hub and control other smart home devices with voice commands. Additionally, there has been a significant shift toward luxurious entertainment systems among the consumers due to inflating disposable incomes, improving lifestyles, and rapid urbanization. Along with this, the growing inclination toward human-to-machine interaction and the widespread automation of domestic tasks are augmenting the product demand. Furthermore, several key players are investing in research and development (R&D) activities to launch innovative smart speakers with advanced features, functions and compatibility with all smartphones to expand their product portfolio and gain a competitive edge. Moreover, the market is impelled by the recent advancements in audio and wireless technology and the increasing willingness of consumers to try new products. Other factors, including the growing penetration of the Internet of Things (IoT) technology, surging sales of consumer electronics, rising usage of smart devices, and easy product availability via online and offline retail channels, are also providing a positive impact on the market growth.

Key Market Segmentation:

  • IMARC Group provides an analysis of the key trends in each sub-segment of the global smart speaker market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, intelligent virtual assistant, connectivity, price range, distribution channel and end user.

Breakup by Component:

  • Hardware
  • Software

Breakup by Intelligent Virtual Assistant:

  • Amazon Alexa
  • Google Assistant
  • Siri
  • Cortana
  • Others

Breakup by Connectivity:

  • Wi-Fi
  • Bluetooth

Breakup by Price Range:

  • Low-range (Less than $100)
  • Mid-range ($101 to $200)
  • Premium (Above $200)

Breakup by Distribution Channel:

  • Online
  • Offline

Breakup by End User:

  • Personal
  • Commercial

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Alibaba Group Holding Limited, Altec Lansing, Amazon.com Inc., Apple Inc., Baidu Inc., Bose Corporation, Google LLC, Lenovo Group Limited, LG Electronics Inc., Onkyo Corporation (VOXX International Corp.), Panasonic Corporation, Samsung Electronics Co. Ltd., Sonos Inc., Sony Corporation and Xiaomi Inc. Key Questions Answered in This Report:

  • How has the global smart speaker market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global smart speaker market?
  • What are the key regional markets?
  • What is the breakup of the market based on the component?
  • What is the breakup of the market based on the intelligent virtual assistant?
  • What is the breakup of the market based on the connectivity?
  • What is the breakup of the market based on the price range?
  • What is the breakup of the market based on the distribution channel?
  • What is the breakup of the market based on the end user?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global smart speaker market and who are the key players?
  • What is the degree of competition in the industry?
Product Code: SR0322A54_Report

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Key Industry Trends

5 Global Smart Speaker Market

  • 5.1 Market Overview
  • 5.2 Market Performance
  • 5.3 Impact of COVID-19
  • 5.4 Market Forecast

6 Market Breakup by Component

  • 6.1 Hardware
    • 6.1.1 Market Trends
    • 6.1.2 Market Forecast
  • 6.2 Software
    • 6.2.1 Market Trends
    • 6.2.2 Market Forecast

7 Market Breakup by Intelligent Virtual Assistant

  • 7.1 Amazon Alexa
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 Google Assistant
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast
  • 7.3 Siri
    • 7.3.1 Market Trends
    • 7.3.2 Market Forecast
  • 7.4 Cortana
    • 7.4.1 Market Trends
    • 7.4.2 Market Forecast
  • 7.5 Others
    • 7.5.1 Market Trends
    • 7.5.2 Market Forecast

8 Market Breakup by Connectivity

  • 8.1 Wi-Fi
    • 8.1.1 Market Trends
    • 8.1.2 Market Forecast
  • 8.2 Bluetooth
    • 8.2.1 Market Trends
    • 8.2.2 Market Forecast

9 Market Breakup by Price Range

  • 9.1 Low-range (Less than $100)
    • 9.1.1 Market Trends
    • 9.1.2 Market Forecast
  • 9.2 Mid-range ($101 to $200)
    • 9.2.1 Market Trends
    • 9.2.2 Market Forecast
  • 9.3 Premium (Above $200)
    • 9.3.1 Market Trends
    • 9.3.2 Market Forecast

10 Market Breakup by Distribution Channel

  • 10.1 Online
    • 10.1.1 Market Trends
    • 10.1.2 Market Forecast
  • 10.2 Offline
    • 10.2.1 Market Trends
    • 10.2.2 Market Forecast

11 Market Breakup by End User

  • 11.1 Personal
    • 11.1.1 Market Trends
    • 11.1.2 Market Forecast
  • 11.2 Commercial
    • 11.2.1 Market Trends
    • 11.2.2 Market Forecast

12 Market Breakup by Region

  • 12.1 North America
    • 12.1.1 United States
      • 12.1.1.1 Market Trends
      • 12.1.1.2 Market Forecast
    • 12.1.2 Canada
      • 12.1.2.1 Market Trends
      • 12.1.2.2 Market Forecast
  • 12.2 Asia-Pacific
    • 12.2.1 China
      • 12.2.1.1 Market Trends
      • 12.2.1.2 Market Forecast
    • 12.2.2 Japan
      • 12.2.2.1 Market Trends
      • 12.2.2.2 Market Forecast
    • 12.2.3 India
      • 12.2.3.1 Market Trends
      • 12.2.3.2 Market Forecast
    • 12.2.4 South Korea
      • 12.2.4.1 Market Trends
      • 12.2.4.2 Market Forecast
    • 12.2.5 Australia
      • 12.2.5.1 Market Trends
      • 12.2.5.2 Market Forecast
    • 12.2.6 Indonesia
      • 12.2.6.1 Market Trends
      • 12.2.6.2 Market Forecast
    • 12.2.7 Others
      • 12.2.7.1 Market Trends
      • 12.2.7.2 Market Forecast
  • 12.3 Europe
    • 12.3.1 Germany
      • 12.3.1.1 Market Trends
      • 12.3.1.2 Market Forecast
    • 12.3.2 France
      • 12.3.2.1 Market Trends
      • 12.3.2.2 Market Forecast
    • 12.3.3 United Kingdom
      • 12.3.3.1 Market Trends
      • 12.3.3.2 Market Forecast
    • 12.3.4 Italy
      • 12.3.4.1 Market Trends
      • 12.3.4.2 Market Forecast
    • 12.3.5 Spain
      • 12.3.5.1 Market Trends
      • 12.3.5.2 Market Forecast
    • 12.3.6 Russia
      • 12.3.6.1 Market Trends
      • 12.3.6.2 Market Forecast
    • 12.3.7 Others
      • 12.3.7.1 Market Trends
      • 12.3.7.2 Market Forecast
  • 12.4 Latin America
    • 12.4.1 Brazil
      • 12.4.1.1 Market Trends
      • 12.4.1.2 Market Forecast
    • 12.4.2 Mexico
      • 12.4.2.1 Market Trends
      • 12.4.2.2 Market Forecast
    • 12.4.3 Others
      • 12.4.3.1 Market Trends
      • 12.4.3.2 Market Forecast
  • 12.5 Middle East and Africa
    • 12.5.1 Market Trends
    • 12.5.2 Market Breakup by Country
    • 12.5.3 Market Forecast

13 SWOT Analysis

  • 13.1 Overview
  • 13.2 Strengths
  • 13.3 Weaknesses
  • 13.4 Opportunities
  • 13.5 Threats

14 Value Chain Analysis

15 Porters Five Forces Analysis

  • 15.1 Overview
  • 15.2 Bargaining Power of Buyers
  • 15.3 Bargaining Power of Suppliers
  • 15.4 Degree of Competition
  • 15.5 Threat of New Entrants
  • 15.6 Threat of Substitutes

16 Price Analysis

17 Competitive Landscape

  • 17.1 Market Structure
  • 17.2 Key Players
  • 17.3 Profiles of Key Players
    • 17.3.1 Alibaba Group Holding Limited
      • 17.3.1.1 Company Overview
      • 17.3.1.2 Product Portfolio
    • 17.3.2 Altec Lansing
      • 17.3.2.1 Company Overview
      • 17.3.2.2 Product Portfolio
    • 17.3.3 Amazon.com Inc.
      • 17.3.3.1 Company Overview
      • 17.3.3.2 Product Portfolio
      • 17.3.3.3 Financials
      • 17.3.3.4 SWOT Analysis
    • 17.3.4 Apple Inc.
      • 17.3.4.1 Company Overview
      • 17.3.4.2 Product Portfolio
      • 17.3.4.3 Financials
      • 17.3.4.4 SWOT Analysis
    • 17.3.5 Baidu Inc.
      • 17.3.5.1 Company Overview
      • 17.3.5.2 Product Portfolio
    • 17.3.6 Bose Corporation
      • 17.3.6.1 Company Overview
      • 17.3.6.2 Product Portfolio
      • 17.3.6.3 SWOT Analysis
    • 17.3.7 Google LLC
      • 17.3.7.1 Company Overview
      • 17.3.7.2 Product Portfolio
      • 17.3.7.3 SWOT Analysis
    • 17.3.8 Lenovo Group Limited
      • 17.3.8.1 Company Overview
      • 17.3.8.2 Product Portfolio
    • 17.3.9 LG Electronics Inc.
      • 17.3.9.1 Company Overview
      • 17.3.9.2 Product Portfolio
      • 17.3.9.3 Financials
      • 17.3.9.4 SWOT Analysis
    • 17.3.10 Onkyo Corporation (VOXX International Corp.)
      • 17.3.10.1 Company Overview
      • 17.3.10.2 Product Portfolio
      • 17.3.10.3 Financials
    • 17.3.11 Panasonic Corporation
      • 17.3.11.1 Company Overview
      • 17.3.11.2 Product Portfolio
      • 17.3.11.3 Financials
      • 17.3.11.4 SWOT Analysis
    • 17.3.12 Samsung Electronics Co. Ltd.
      • 17.3.12.1 Company Overview
      • 17.3.12.2 Product Portfolio
      • 17.3.12.3 Financials
      • 17.3.12.4 SWOT Analysis
    • 17.3.13 Sonos Inc.
      • 17.3.13.1 Company Overview
      • 17.3.13.2 Product Portfolio
      • 17.3.13.3 Financials
      • 17.3.13.4 SWOT Analysis
    • 17.3.14 Sony Corporation
      • 17.3.14.1 Company Overview
      • 17.3.14.2 Product Portfolio
      • 17.3.14.3 Financials
      • 17.3.14.4 SWOT Analysis
    • 17.3.15 Xiaomi Inc.
      • 17.3.15.1 Company Overview
      • 17.3.15.2 Product Portfolio
      • 17.3.15.3 Financials

List of Figures

  • Figure 1: Global: Smart Speaker Market: Major Drivers and Challenges
  • Figure 2: Global: Smart Speaker Market: Sales Value (in Billion US$), 2016-2021
  • Figure 3: Global: Smart Speaker Market Forecast: Sales Value (in Billion US$), 2022-2027
  • Figure 4: Global: Smart Speaker Market: Breakup by Component (in %), 2021
  • Figure 5: Global: Smart Speaker Market: Breakup by Intelligent Virtual Assistant (in %), 2021
  • Figure 6: Global: Smart Speaker Market: Breakup by Connectivity (in %), 2021
  • Figure 7: Global: Smart Speaker Market: Breakup by Price Range (in %), 2021
  • Figure 8: Global: Smart Speaker Market: Breakup by Distribution Channel (in %), 2021
  • Figure 9: Global: Smart Speaker Market: Breakup by End User (in %), 2021
  • Figure 10: Global: Smart Speaker Market: Breakup by Region (in %), 2021
  • Figure 11: Global: Smart Speaker (Hardware) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 12: Global: Smart Speaker (Hardware) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 13: Global: Smart Speaker (Software) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 14: Global: Smart Speaker (Software) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 15: Global: Smart Speaker (Amazon Alexa) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 16: Global: Smart Speaker (Amazon Alexa) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 17: Global: Smart Speaker (Google Assistant) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 18: Global: Smart Speaker (Google Assistant) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 19: Global: Smart Speaker (Siri) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 20: Global: Smart Speaker (Siri) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 21: Global: Smart Speaker (Cortana) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 22: Global: Smart Speaker (Cortana) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 23: Global: Smart Speaker (Other Intelligent Virtual Assistants) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 24: Global: Smart Speaker (Other Intelligent Virtual Assistants) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 25: Global: Smart Speaker (Wi-Fi) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 26: Global: Smart Speaker (Wi-Fi) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 27: Global: Smart Speaker (Bluetooth) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 28: Global: Smart Speaker (Bluetooth) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 29: Global: Smart Speaker (Low-range (Less than $100)) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 30: Global: Smart Speaker (Low-range (Less than $100)) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 31: Global: Smart Speaker (Mid-range ($101 to $200)) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 32: Global: Smart Speaker (Mid-range ($101 to $200)) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 33: Global: Smart Speaker (Premium (Above $200)) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 34: Global: Smart Speaker (Premium (Above $200)) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 35: Global: Smart Speaker (Online) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 36: Global: Smart Speaker (Online) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 37: Global: Smart Speaker (Offline) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 38: Global: Smart Speaker (Offline) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 39: Global: Smart Speaker (Personal) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 40: Global: Smart Speaker (Personal) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 41: Global: Smart Speaker (Commercial) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 42: Global: Smart Speaker (Commercial) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 43: North America: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 44: North America: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 45: United States: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 46: United States: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 47: Canada: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 48: Canada: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 49: Asia-Pacific: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 50: Asia-Pacific: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 51: China: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 52: China: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 53: Japan: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 54: Japan: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 55: India: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 56: India: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 57: South Korea: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 58: South Korea: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 59: Australia: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 60: Australia: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 61: Indonesia: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 62: Indonesia: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 63: Others: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 64: Others: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 65: Europe: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 66: Europe: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 67: Germany: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 68: Germany: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 69: France: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 70: France: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 71: United Kingdom: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 72: United Kingdom: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 73: Italy: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 74: Italy: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 75: Spain: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 76: Spain: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 77: Russia: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 78: Russia: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 79: Others: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 80: Others: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 81: Latin America: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 82: Latin America: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 83: Brazil: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 84: Brazil: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 85: Mexico: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 86: Mexico: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 87: Others: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 88: Others: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 89: Middle East and Africa: Smart Speaker Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 90: Middle East and Africa: Smart Speaker Market: Breakup by Country (in %), 2021
  • Figure 91: Middle East and Africa: Smart Speaker Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 92: Global: Smart Speaker Industry: SWOT Analysis
  • Figure 93: Global: Smart Speaker Industry: Value Chain Analysis
  • Figure 94: Global: Smart Speaker Industry: Porter's Five Forces Analysis

List of Tables

  • Table 1: Global: Smart Speaker Market: Key Industry Highlights, 2021 and 2027
  • Table 2: Global: Smart Speaker Market Forecast: Breakup by Component (in Million US$), 2022-2027
  • Table 3: Global: Smart Speaker Market Forecast: Breakup by Intelligent Virtual Assistant (in Million US$), 2022-2027
  • Table 4: Global: Smart Speaker Market Forecast: Breakup by Connectivity (in Million US$), 2022-2027
  • Table 5: Global: Smart Speaker Market Forecast: Breakup by Price Range (in Million US$), 2022-2027
  • Table 6: Global: Smart Speaker Market Forecast: Breakup by Distribution Channel (in Million US$), 2022-2027
  • Table 7: Global: Smart Speaker Market Forecast: Breakup by End User (in Million US$), 2022-2027
  • Table 8: Global: Smart Speaker Market Forecast: Breakup by Region (in Million US$), 2022-2027
  • Table 9: Global: Smart Speaker Market: Competitive Structure
  • Table 10: Global: Smart Speaker Market: Key Players