Global Smart Speaker Market By Intelligent Virtual Assistant (Google Assistant, Alexa, Siri, Microsoft Cortana, Clova, Others), By Component (Hardware, Software), By Connectivity (Wi-Fi, Bluetooth, Others), By Application (Residential, Commercial), By Distribution Channel (Offline, Online), By Region, Competition, Forecast & Opportunities, 2028

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Summary

Report Description

The global smart speaker market is expected to grow at a significant rate during the forecast period owing to growing demand for luxury entertainment systems. Growing number of smart homes and rising internet penetration is aiding to the growing demand for smart speaker, globally. Further, increasing technological advancement has led to variety of smart speakers available in the market. This has also led to increase in demand for multifunctional devices and hence smart speakers are getting increasingly popular around the world.

Smart speakers are voice command devices with an integrated virtual assistant that offers interactive actions and hands-free activation with the help of one "hot word". The growing number of tech savvy consumers is leading to increasing demand for smart technology equipped devices like smart speakers. Consumers’ readiness to spend on trending technologies and rise in usage of smart devices, especially among youngsters is anticipated to fuel the demand for smart speakers in the coming years. The establishment of 5G network and advancement in Natural Language Processing (NLP) are further supporting the demand for smart speakers.

Global smart speaker market can be segmented based on intelligent virtual assistant, component, connectivity, application, distribution channel and region. Based on intelligent virtual assistant, the market is segmented into Google Assistant, Alexa, Siri, Microsoft Cortana, Clova and others. Alexa, which was first launched by Amazon in 2014, captured the largest market share in 2022. Growing consumer preference for Alexa due to its lesser cost and more application than other assistants fuels the demand for Alexa smart speakers across the globe.

Regionally, North America holds the largest market share in smart speaker market due to high technological advancements in the region and increasing per capita disposable income. Leading smart speaker companies are American and hence the North American region is expected to dominate the market in terms of revenue during the next five years as well.

Major companies operating in the global smart speaker market include Apple, Inc., Amazon, Harman International, Sonos, Alphabet, Bose, Sony, Onkyo, Panasonic, Alibaba, Xiaomi and Lenovo, among others.  Leading companies are working on localization of smart speaker to expand their market and increase their revenue share.


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Objective of the Study:

  • To analyse and forecast the market size of global smart speaker market.
  • To forecast global smart speaker market based on intelligent virtual assistant, component, connectivity, application, distribution channel, company and regional distribution.
  • To identify drivers and challenges for global smart speaker market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc. in global smart speaker market.
  • To identify and analyse the profile of leading players operating in the global smart speaker market.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of smart speaker companies across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the vendors which could not be identified due to the limitations of secondary research.

TechSci Research calculated global smart speaker market size using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.

Key Target Audience:

  • Smart speaker manufacturing companies/partners
  • Suppliers/Distributers
  • End-Users
  • Government bodies such as regulating authorities and policy makers
  • Organizations, industry associations, forums and alliances related to smart speaker market
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as smart speaker manufacturing companies and partners, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Attribute

Details

Base Year

2022

Historical Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million and CAGR for 2018-2022 and 2023E-2028F

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments covered

·         Intelligent Virtual Assistant

·         Component

·         Connectivity

·         Application

·         Distribution Channel

Regional scope

North America; Europe; Asia Pacific; South America; Middle East & Africa

Country scope

United States, Mexico, Canada, China, India, Japan, South Korea, Australia; Germany, France, United Kingdom, Spain, Italy; South Africa, UAE, Saudi Arabia; Brazil, Argentina, Colombia;

Key companies profiled

Apple, Inc., Amazon, Harman International, Sonos, Alphabet, Bose, Sony, Onkyo, Panasonic, Alibaba, Xiaomi and Lenovo.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, global Smart Speaker market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Global Smart Speaker Market, By Intelligent Virtual Assistant:
    • Google Assistant
    • Alexa
    • Siri
    • Microsoft Cortana
    • Clova
    • Others
  • Global Smart Speaker Market, By Component:
    • Hardware
    • Software
  • Global Smart Speaker Market, By Connectivity:
    • Wi-Fi
    • Bluetooth
    • Others
  • Global Smart Speaker Market, By Application:
    • Commercial
    • Residential
  • Global Smart Speaker Market, By Distribution Channel:

o    Online

o    Offline

  • Global Smart Speaker Market, By Region:
    • Asia-Pacific
      • China
      • Japan
      • India 
      • South Korea
      • Australia
    • Europe
      • France
      • Germany
      • United Kingdom
      • Italy
      • Spain
    • North America
      • United States
      • Mexico
      • Canada
    • South America
      • Brazil
      • Argentina
      • Colombia
    • Middle East & Africa
      • UAE
      • South Africa
      • Saudi Arabia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global smart speaker market.

Available Customizations:

With the given market data, TechSci Research offers customizations according a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis

  • Profit margin analysis in case of direct and indirect sales channel.

It is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]  

Table of content

1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on Global Smart Speaker Market

4.    Executive Summary

5.    Voice of Customer

6.    Global Smart Speaker Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Intelligent Virtual Assistant (Google Assistant, Alexa, Siri, Microsoft Cortana, Clova, Others)

6.2.2.     By Component (Hardware, Software)

6.2.3.     By Connectivity (Wi-Fi, Bluetooth, Others)

6.2.4.     By Application (Residential, Commercial)

6.2.5.     By Distribution Channel (Offline, Online)

6.2.6.     By Company (2022)

6.2.7.     By Region

6.3.  Product Market Map

7.    Asia-Pacific Smart Speaker Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Intelligent Virtual Assistant

7.2.2.     By Component

7.2.3.     By Connectivity

7.2.4.     By Application

7.2.5.     By Distribution Channel

7.2.6.     By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.     China Smart Speaker Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Intelligent Virtual Assistant

7.3.1.2.2.             By Component

7.3.1.2.3.             By Connectivity

7.3.1.2.4.             By Application

7.3.1.2.5.             By Distribution Channel

7.3.2.     India Smart Speaker Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Intelligent Virtual Assistant

7.3.2.2.2.             By Component

7.3.2.2.3.             By Connectivity

7.3.2.2.4.             By Application

7.3.2.2.5.             By Distribution Channel

7.3.3.     Japan Smart Speaker Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Intelligent Virtual Assistant

7.3.3.2.2.             By Component

7.3.3.2.3.             By Connectivity

7.3.3.2.4.             By Application

7.3.3.2.5.             By Distribution Channel

7.3.4.     South Korea Smart Speaker Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Intelligent Virtual Assistant

7.3.4.2.2.             By Component

7.3.4.2.3.             By Connectivity

7.3.4.2.4.             By Application

7.3.4.2.5.             By Distribution Channel

7.3.5.     Australia Smart Speaker Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Intelligent Virtual Assistant

7.3.5.2.2.             By Component

7.3.5.2.3.             By Connectivity

7.3.5.2.4.             By Application

7.3.5.2.5.             By Distribution Channel

8.    Europe Smart Speaker Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Intelligent Virtual Assistant

8.2.2.     By Component

8.2.3.     By Connectivity

8.2.4.     By Application

8.2.5.     By Distribution Channel

8.2.6.     By Country

8.3.  Europe: Country Analysis

8.3.1.     France Smart Speaker Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Intelligent Virtual Assistant

8.3.1.2.2.             By Component

8.3.1.2.3.             By Connectivity

8.3.1.2.4.             By Application

8.3.1.2.5.             By Distribution Channel

8.3.2.     Germany Smart Speaker Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Intelligent Virtual Assistant

8.3.2.2.2.             By Component

8.3.2.2.3.             By Connectivity

8.3.2.2.4.             By Application

8.3.2.2.5.             By Distribution Channel

8.3.3.     United Kingdom Smart Speaker Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Intelligent Virtual Assistant

8.3.3.2.2.             By Component

8.3.3.2.3.             By Connectivity

8.3.3.2.4.             By Application

8.3.3.2.5.             By Distribution Channel

8.3.4.     Italy Smart Speaker Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Intelligent Virtual Assistant

8.3.4.2.2.             By Component

8.3.4.2.3.             By Connectivity

8.3.4.2.4.             By Application

8.3.4.2.5.             By Distribution Channel

8.3.5.     Spain Smart Speaker Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Intelligent Virtual Assistant

8.3.5.2.2.             By Component

8.3.5.2.3.             By Connectivity

8.3.5.2.4.             By Application

8.3.5.2.5.             By Distribution Channel

9.    North America Smart Speaker Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Intelligent Virtual Assistant

9.2.2.     By Component

9.2.3.     By Connectivity

9.2.4.     By Application

9.2.5.     By Distribution Channel

9.2.6.     By Country

9.3.  North America: Country Analysis

9.3.1.     United States Smart Speaker Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Intelligent Virtual Assistant

9.3.1.2.2.             By Component

9.3.1.2.3.             By Connectivity

9.3.1.2.4.             By Application

9.3.1.2.5.             By Distribution Channel

9.3.2.     Mexico Smart Speaker Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Intelligent Virtual Assistant

9.3.2.2.2.             By Component

9.3.2.2.3.             By Connectivity

9.3.2.2.4.             By Application

9.3.2.2.5.             By Distribution Channel

9.3.3.     Canada Smart Speaker Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Intelligent Virtual Assistant

9.3.3.2.2.             By Component

9.3.3.2.3.             By Connectivity

9.3.3.2.4.             By Application

9.3.3.2.5.             By Distribution Channel

10.  South America Smart Speaker Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Intelligent Virtual Assistant

10.2.2.  By Component

10.2.3.  By Connectivity

10.2.4.  By Application

10.2.5.  By Distribution Channel

10.2.6.  By Country

10.3.              South America: Country Analysis

10.3.1.  Brazil Smart Speaker Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Intelligent Virtual Assistant

10.3.1.2.2.           By Component

10.3.1.2.3.           By Connectivity

10.3.1.2.4.           By Application

10.3.1.2.5.           By Distribution Channel

10.3.2.  Argentina Smart Speaker Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Intelligent Virtual Assistant

10.3.2.2.2.           By Component

10.3.2.2.3.           By Connectivity

10.3.2.2.4.           By Application

10.3.2.2.5.           By Distribution Channel

10.3.3.  Colombia Smart Speaker Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Intelligent Virtual Assistant

10.3.3.2.2.           By Component

10.3.3.2.3.           By Connectivity

10.3.3.2.4.           By Application

10.3.3.2.5.           By Distribution Channel

11.  Middle East and Africa Smart Speaker Market Outlook

11.1.              Market Size & Forecast

11.1.1.  By Value

11.2.              Market Share & Forecast

11.2.1.  By Intelligent Virtual Assistant

11.2.2.  By Component

11.2.3.  By Connectivity

11.2.4.  By Application

11.2.5.  By Distribution Channel

11.2.6.  By Country

11.3.              MEA: Country Analysis

11.3.1.  South Africa Smart Speaker Market Outlook

11.3.1.1.      Market Size & Forecast

11.3.1.1.1.           By Value

11.3.1.2.      Market Share & Forecast

11.3.1.2.1.           By Intelligent Virtual Assistant

11.3.1.2.2.           By Component

11.3.1.2.3.           By Connectivity

11.3.1.2.4.           By Application

11.3.1.2.5.           By Distribution Channel

11.3.2.  Saudi Arabia Smart Speaker Market Outlook

11.3.2.1.      Market Size & Forecast

11.3.2.1.1.           By Value

11.3.2.2.      Market Share & Forecast

11.3.2.2.1.           By Intelligent Virtual Assistant

11.3.2.2.2.           By Component

11.3.2.2.3.           By Connectivity

11.3.2.2.4.           By Application

11.3.2.2.5.           By Distribution Channel

11.3.3.  UAE Smart Speaker Market Outlook

11.3.3.1.      Market Size & Forecast

11.3.3.1.1.           By Value

11.3.3.2.      Market Share & Forecast

11.3.3.2.1.           By Intelligent Virtual Assistant

11.3.3.2.2.           By Component

11.3.3.2.3.           By Connectivity

11.3.3.2.4.           By Application

11.3.3.2.5.           By Distribution Channel

12.  Market Dynamics

12.1.              Drivers

12.2.              Challenges

13.  Market Trends & Developments

14.  Competitive Landscape

14.1.              Competition Outlook

14.2.              Players Profiled (Leading Companies)

14.2.1.  Apple, Inc.

14.2.2.  Amazon

14.2.3.  Harman International

14.2.4.  Sonos

14.2.5.  Alphabet

14.2.6.  Bose

14.2.7.  Sony

14.2.8.  Onkyo

14.2.9.  Panasonic

14.2.10.                Alibaba

14.2.11.                Xiaomi

14.2.12.                Lenovo

15. Strategic Recommendations

Figures and Tables

Frequently asked questions

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Growing demand for luxury entertainment systems coupled with increasing disposable incomes are key factors driving the growth of global smart speaker market.

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Global smart speaker market can be segmented based on intelligent virtual assistant, component, connectivity, application, distribution channel and region.

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Based on regional analysis, North America is expected to hold the largest share in global smart speaker market during forecast period.

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Major companies operating in the global smart speaker market include Apple, Inc., Amazon, Harman International, Sonos, Alphabet, Bose, Sony, Onkyo, Panasonic, Alibaba, Xiaomi and Lenovo, among others.

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