Global Smart Speaker Market by Intelligent Virtual Assistant (Google Assistant, Siri, Alexa, Cortana, Others), Component (Hardware, Software), Distribution Channel (Online, Offline), Application (Smart Office, Smart Home, Consumer, Others), End User (Personal, Commercial), Region (North America, Europe, Asia Pacific, South America and Middle East and Africa), Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025

    Report ID : 71600   |  Published On: December 2018 |   Pages: |   Format:PDF

Global smart speaker market is expected to reach USD 15.01 Billion by 2025, at a CAGR of 35.13% from 2018 to 2025. The key contributing factor for the market growth are increase in adoption of cloud platforms, increasing number of smart homes and rising disposable income, and growing trend of personalization across the globe. Market Overview: Smart speakers can be operated through wireless connection such as Bluetooth, Wi-Fi, or other wireless protocols. The smart speakers are build using virtual assistant platform that enables the user to perform different tasks such as listening to music, online shopping, or accessing any connected device through voice commands. These smart speakers can also be used to provide various information such as weather report, latest news, online music streaming, and controlling smart home appliances by using internet. The increasing demand for the smart home device and use of multifunctional devices has increased the market for smart speakers. The smart speaker devices provide smart entertainment and connectivity feature along with the security.  For instance, in 2017, Amazon launched Echo 2 and Echo Plus product. These products have built-in smart home hub that enables connection with smart devices. The technological advancement and developments in smart connected devices and equipment along with smart speakers has prominently increased the usage of smart speakers. Report Description:
  • The base year for the study has been considered 2017, historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The smart speakers market is analysed on the basis of volume (thousand units) and value (USD million).
  • The report provides the key data of adoption and penetration rate and industry cost structure in order to understand the present and future scenario of the market.
  • The study delivers a comprehensive analysis of global smart speaker market by components, intelligent virtual assistant, application, end user, and regions.
  • The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
  • Porter’s Five Forces model is used in order to recognize the competitive scenario in the global smart speaker market. This report incorporates the industry analysis which is focused on providing an extensive view of the smart speaker market.
  • The study also includes attractiveness analysis of components, intelligent virtual assistant, application, end user, and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
  • The report provides company profile of the key players operating in the smart speaker market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
  • The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.

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Market Dynamics: Drivers:
  • Increase in adoption of cloud platforms
  • Increasing number of smart homes
  • Rising disposable income
  • Rapid explosion of multifunctional devices
  • Growing trend of personalization
  • The connectivity range issues
  • Compatibility problem
  • power darning
  • Rapid explosion of multifunctional devices in various industries
  • Companies focusing on enhancing customer experience
  • High security risk
  • Availability of substitute
Global Smart Speaker Market Key Findings: All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. Segmentation Analysis: The smart speaker market is segmented on the basis of components, intelligent virtual assistant, application, and end user.
  • Component segment is categorized into hardware and software. Software segment is anticipated to dominate the market with the market share of 58.34% in the forecast period. With the help of software the smart speaker can be interconnected through which enterprises can collect the real-time data that benefits them in tracking assets, products and day-to-day operations.
  • The intelligent virtual assistant segment covers Google Assistant, Siri, Alexa, Cortana, and others. Google Assistant segment is anticipated to grow with the highest CAGR of 37.31% over the forecast period. The increase in the demand for advanced microphones and automated speech recognition technology to identify and process the voice command are the key factors to drive the demand of Google Assistant segment.
  • Application segment is divided into smart office, smart home, consumer, and others. The consumer segment is dominating the smart speaker market with the market size of USD 400.14 Million in 2017. The demand for voice-controlled speaker and availability of new and advanced smart speaker products are the key reasons for the consumer segment growth.
  • End user segment covers personal and commercial. Personal segment held largest market share of 55.34% with USD 747.09 Million in 2017. The growing trend of personalization for smart devices has increased the market share of personal segment.
Regional Segmentation Analysis: The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America region dominated the global smart speaker market with the market size of 395.69 Million in 2017 where as the Asia Pacific region held the second dominant position in the market.
  • Increase in the demand of convenience, luxury, safety, energy efficient devices and presence of major players and the technological advancements were some of the factors that led to the growth of smart speaker market in North America region.
  • In Asia Pacific region the factors such as increasing personalization trends, demand for speaker products, and increasing number of smart homes will contribute the market growth in the forecast period.
Global Smart speaker Market Competitive Analysis: Key players in the smart speaker market are Google Inc., Panasonic, Alibaba, Inc., Harman International, Apple Inc., Sonos, Bose Corporation, Sony Corporation, Onkyo Corporation, Xiaomi Corporation, Avnera Corporation, SK Telecom, Baidu, Inc., LG Electronics, Pioneer Corporation, Altec Lansing, Lenovo Group Ltd., Ultimate Ears, and Mobvoi. The Google Inc., Alibaba, Inc., and Harman International are the top leading players of the market. For instance, in 2018, Alibaba updated its smart speaker AliGenie 2.0 with visual recognition capabilities. This product can be monitored through smartphones that are connected to speaker. *All our reports are customizable as per customer requirements Scope
Key Points Information
Evaluate Market Potential Growth Rates (CAGR %) Value (USD Million) {Market Size} Volume (‘000 Units)
USP of Report Adoption and Penetration Rate Supply Demand Ratio Analysis Industry Cost Structure Company Share Analysis Competitive & Vendor landscape SWOT Analysis of Each Company Profit Margin Analysis Analysis of More than 30 Countries for Each Segment
Historical Years 2015-2017
Forecast Years 2018-2025
Regional Analysis North America, Europe, Asia Pacific, South America, and Middle East and Africa
Countries Analysis U.S., Canada, Mexico, Germany, France, Sweden, Netherlands, U.K., Italy, Spain, Turkey, Switzerland, Belgium, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Brazil, Saudi Arabia, UAE, Egypt, Nigeria, South Africa
This study forecasts revenue and volume growth at global, regional, and country levels from 2015 to 2025. Fior Market Research has segmented the global smart speaker market on the basis of below mentioned segments: Global Smart Speaker Market, By Component:
  • Hardware
    • Speaker Driver
    • Processor
    • Memory
    • Power IC
    • Microphone
    • Connectivity
    • Others
  • Software
Global Smart Speaker Market, By Intelligent Virtual Assistant (IVA):
  • Google Assistant
  • Siri
  • Alexa
  • Cortana
  • Others
    • Xiaowei
    • AliGenie
    • DuerOS
    • Bixby
    • Kakao
Global Smart Speaker Market, By Distribution Channel:
  • Online
  • Offline
Global Smart Speaker Market, By Application:
  • Smart Office
  • Smart Home
  • Consumer
  • Others
Global Smart Speaker Market, By Regions:
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Sweden
    • Netherlands
    • U.K.
    • Italy
    • Spain
    • Turkey
    • Switzerland
    • Belgium
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • South Korea
    • Australia
    • Singapore
    • Malaysia
    • Thailand
    • Indonesia
    • Philippines
    • Rest of Asia-Pacific
  • South America
    • Brazil
    • Argentina
    • Colombia
    • Rest of South America
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Nigeria
    • South Africa
    • Rest of Middle East and Africa
Table of Contents
  1. Introduction
  2. Research Methodology
  3. Executive Summary
  4. Report Premium Insights
  5. Market Overview
  6. Industry Trend Analysis
  7. Global Smart Speaker Market by Intelligent Virtual Assistant Analysis
  8. Global Smart Speaker Market by Component Analysis
  9. Global Smart Speaker Market by Distribution Channel Analysis
  10. Global Smart Speaker Market by Application Analysis
  11. Global Smart Speaker Market by Region Analysis
  12. Competitive Analysis
  13. Company Profiles
  • Business Overview
  • Products Portfolio
  • Key Insights
  • Recent Developments
  • SWOT Analysis
  • Financial Analysis
  • Market Share Analysis

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