Market Overview:
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.
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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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:
Breakup by Intelligent Virtual Assistant:
- Amazon Alexa
- Google Assistant
- Siri
- Cortana
- Others
Breakup by Connectivity:
Breakup by Price Range:
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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
- Low-range (Less than $100)
- Mid-range ($101 to $200)
- Premium (Above $200)
Breakup by Distribution Channel:
Breakup by End User:
Breakup by Region:
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- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alibaba Group Holding Limited, Altec Lansing, Amazon.com Inc., Apple Inc., Baidu Inc., Bose Corporation, Google LLC, Lenovo Group Limited, LG Electronics Inc., Onkyo Corporation (VOXX International Corp.), Panasonic Corporation, Samsung Electronics Co. Ltd., Sonos Inc., Sony Corporation and Xiaomi Inc.
Report Coverage:
Report Features |
Details |
---|
Base Year of the Analysis |
2021 |
Historical Period |
2016-2021 |
Forecast Period |
2022-2027 |
Units |
US$ Billion |
Segment Coverage |
Component, Intelligent Virtual Assistant, Connectivity, Price Range, Distribution Channel, End User, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
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. |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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