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PUBLISHER: Grand View Research | PRODUCT CODE: 1376245

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PUBLISHER: Grand View Research | PRODUCT CODE: 1376245

Smart Speaker Market Size, Share & Trends Analysis Report By Virtual Personal Assistant (Amazon Alexa, Google Assistant, Apple Siri), By Region, And Segment Forecasts, 2023 - 2030

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Description

Table of Contents

List of Tables

Smart Speaker Market Growth & Trends:

The global smart speaker market size is expected to reach USD 50.19 billion by 2030, registering a CAGR of 22.2% during the forecast period, according to a new report by Grand View Research, Inc.. The ability of a smart speaker to function as a centralized hub that can adequately control other smart home devices is expected to increase their popularity among consumers.

The market is anticipated to witness significant growth over the forecast period owing to various technological advancements. One of the recent technological advancements is Echo Look, launched by Amazon in June 2018. Echo Look is integrated with a camera and programmed to function as a fashion advisor by capturing user's images. Similarly, in March 2017, Google announced its strategy to incorporate smart displays in their speakers. The Google Assistant Smart Displays can be used to watch recipes, refer to Google maps, and shop online with the visual aid of a screen.

Furthermore, increasing penetration of broadband services, coupled with growing integration of AI technologies, is anticipated to bolster the smart speakers market over the forecast years. Another key factor driving the market is price differentiation. Various smart speaker providers offer their products at varied costs to maintain consumer preferences toward their products. Additionally, smart speakers are expected to be the fastest-growing products among other smart devices included in the consumer electronics portfolio.

Despite growing consumer interest in smart speakers, data security and privacy continue to be primary concerns. These devices gather personal information pertaining to contact details, bank account number, and login credentials from Google Home, which has access to Gmail where users store their personal details. These security concerns may hinder market growth. However, with development of security compliances, the market is expected to overcome this challenge and exhibit an upward growth trend.

Smart Speaker Market Report Highlights:

  • Amazon Alexa dominated the market in 2022 and accounted for the largest revenue share of 36.6%. This growth is ascribed to its massive popularity among consumers and its advanced features such as machine learning and semi-supervised learning techniques
  • Several emerging players are entering into collaborations with existing participants to enhance their market presence. For instance, in July 2018, Pioneer Electronics announced its partnership with Amazon, Inc. to introduce Elite Smart Speaker F4 (VA-FW40) enabled with Amazon Alexa voice assistant. Pioneer Electronics is engaged in providing home entertainment products
  • The smart speakers market is marked by presence of industry participants such as Apple, Inc.; Amazon; Google; and Xiaomi. These players incorporate effective strategies to maintain their presence and gain popularity among users. For instance, after Amazon introduced its smart speaker in U.S., Xiaomi, Chinese electronics giant, introduced its smart speakers and is currently one of the pioneers in the consumer electronics market. The company holds more than 5% share in the smart speakers market.
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Product Code: GVR-2-68038-614-1

Table of Contents

Chapter 1. Methodology and Scope

  • 1.1. Market Segmentation & Scope
    • 1.1.1. Virtual Personal Assistant
    • 1.1.2. Regional scope
    • 1.1.3. Estimates and forecast timeline
  • 1.2. Research Methodology
  • 1.3. Information Procurement
    • 1.3.1. Purchased database
    • 1.3.2. GVR's internal database
    • 1.3.3. Secondary sources
    • 1.3.4. Primary research
    • 1.3.5. Details of primary research
  • 1.4. Information or Data Analysis
  • 1.5. Market Formulation & Validation
  • 1.6. Model Details
  • 1.7. List of Secondary Sources
  • 1.8. List of Primary Sources
  • 1.9. Objectives

Chapter 2. Executive Summary

  • 2.1. Market Outlook
  • 2.2. Segment Outlook
    • 2.2.1. Virtual Personal Assistant outlook
    • 2.2.2. Regional outlook
  • 2.3. Competitive Insights

Chapter 3. Smart Speakers Market Variables, Trends & Scope

  • 3.1. Market Lineage Outlook
  • 3.2. Industry Value Chain Analysis
  • 3.3. Market Dynamics
    • 3.3.1. Market driver analysis
    • 3.3.2. Market restraint analysis
    • 3.3.3. Market opportunity analysis
  • 3.4. Smart Speakers Market Analysis Tools
    • 3.4.1. Industry analysis - Porter's
      • 3.4.1.1. Supplier power
      • 3.4.1.2. Buyer power
      • 3.4.1.3. Substitution threat
      • 3.4.1.4. Threat of new entrant
      • 3.4.1.5. Competitive rivalry
    • 3.4.2. PESTEL analysis
      • 3.4.2.1. Political landscape
      • 3.4.2.2. Technological landscape
      • 3.4.2.3. Economic landscape

Chapter 4. Smart Speakers Market : Virtual Personal Assistant Estimates & Trend Analysis

  • 4.1. Smart Speakers Market: Key Takeaways
  • 4.2. Smart Speakers Market: Movement & Market Share Analysis, 2022 & 2030
  • 4.3. Amazon Alexa
    • 4.3.1. Amazon Alexa market estimates and forecasts, 2017 to 2030 (USD Million)
  • 4.4. Google Assistant
    • 4.4.1. Google Assistant market estimates and forecasts, 2017 to 2030 (USD Million)
  • 4.5. Apple Siri
    • 4.5.1. Apple Siri market estimates and forecasts, 2017 to 2030 (USD Million)
  • 4.6. Others
    • 4.6.1. Others market estimates and forecasts, 2017 to 2030 (USD Million)

Chapter 5. Smart Speakers Market: Regional Estimates & Trend Analysis

  • 5.1. Regional Outlook
  • 5.2. Smart Speakers Market by Region: Key Takeaway
  • 5.3. North America
    • 5.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
    • 5.3.2. U.S.
      • 5.3.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
    • 5.3.3. Canada
      • 5.3.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
  • 5.4. Europe
    • 5.4.1. UK
      • 5.4.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
    • 5.4.2. Germany
      • 5.4.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
    • 5.4.3. France
      • 5.4.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
  • 5.5. Asia Pacific
    • 5.5.1. Japan
      • 5.5.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
    • 5.5.2. China
      • 5.5.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
    • 5.5.3. India
      • 5.5.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
    • 5.5.4. Australia
      • 5.5.4.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
    • 5.5.5. South Korea
      • 5.5.5.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
  • 5.6. Latin America
    • 5.6.1. Brazil
      • 5.6.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
    • 5.6.2. Mexico
      • 5.6.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
  • 5.7. MEA
    • 5.7.1. Saudi Arabia
      • 5.7.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
    • 5.7.2. South Africa
      • 5.7.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
    • 5.7.3. UAE
      • 5.7.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)

Chapter 6. Competitive Landscape

  • 6.1. Recent Developments & Impact Analysis, By Key Market Participants
  • 6.2. Market Participant Categorization
    • 6.2.1. Apple, Inc.
      • 6.2.1.1. Company overview
      • 6.2.1.2. Financial performance
      • 6.2.1.3. Product benchmarking
      • 6.2.1.4. Strategic initiatives
    • 6.2.2. Amazon, Inc.
      • 6.2.2.1. Company overview
      • 6.2.2.2. Financial performance
      • 6.2.2.3. Product benchmarking
      • 6.2.2.4. Strategic initiatives
    • 6.2.3. Bose Corporation
      • 6.2.3.1. Company overview
      • 6.2.3.2. Financial performance
      • 6.2.3.3. Product benchmarking
      • 6.2.3.4. Strategic initiatives
    • 6.2.4. Baidu, Inc.
      • 6.2.4.1. Company overview
      • 6.2.4.2. Financial performance
      • 6.2.4.3. Product benchmarking
      • 6.2.4.4. Strategic initiatives
    • 6.2.5. Google LLC
      • 6.2.5.1. Company overview
      • 6.2.5.2. Financial performance
      • 6.2.5.3. Product benchmarking
      • 6.2.5.4. Strategic initiatives
    • 6.2.6. HARMAN International
      • 6.2.6.1. Company overview
      • 6.2.6.2. Financial performance
      • 6.2.6.3. Product benchmarking
      • 6.2.6.4. Strategic initiatives
    • 6.2.7. Sonos, Inc.
      • 6.2.7.1. Company overview
      • 6.2.7.2. Financial performance
      • 6.2.7.3. Product benchmarking
      • 6.2.7.4. Strategic initiatives
    • 6.2.8. ULTIMATE EARS
      • 6.2.8.1. Company overview
      • 6.2.8.2. Financial performance
      • 6.2.8.3. Product benchmarking
      • 6.2.8.4. Strategic initiatives
    • 6.2.9. Sony Corporation
      • 6.2.9.1. Company overview
      • 6.2.9.2. Financial performance
      • 6.2.9.3. Product benchmarking
      • 6.2.9.4. Strategic initiatives
    • 6.2.10. Panasonic Holdings Corporation
      • 6.2.10.1. Company overview
      • 6.2.10.2. Financial performance
      • 6.2.10.3. Product benchmarking
      • 6.2.10.4. Strategic initiatives
    • 6.2.11. Xiaomi
      • 6.2.11.1. Company overview
      • 6.2.11.2. Financial performance
      • 6.2.11.3. Product benchmarking
      • 6.2.11.4. Strategic initiatives
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Product Code: GVR-2-68038-614-1

List of Tables

  • Table 1 List of abbreviation
  • Table 2 North America smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)
  • Table 3 North America smart speakers market, by region, 2017 to 2030 (USD Million)
  • Table 4 U.S. smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)
  • Table 5 Canada smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)
  • Table 6 Europe smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)
  • Table 7 Europe smart speakers market, by region, 2017 to 2030 (USD Million)
  • Table 8 Germany smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)
  • Table 9 UK smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)
  • Table 10 France smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)
  • Table 11 Asia Pacific smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)
  • Table 12 Asia Pacific smart speakers market, by region, 2017 to 2030 (USD Million)
  • Table 13 China smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)
  • Table 14 Japan smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)
  • Table 15 India smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)
  • Table 16 Australia smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)
  • Table 17 South Korea smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)
  • Table 18 Latin America smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)
  • Table 19 Latin America smart speakers market, by region, 2017 to 2030 (USD Million)
  • Table 20 Brazil smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)
  • Table 21 Mexico smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)
  • Table 22 Middle East and Africa smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)
  • Table 23 Middle East and Africa smart speakers market, by region, 2017 to 2030 (USD Million)
  • Table 24 South Africa smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)
  • Table 25 Saudi Arabia smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)
  • Table 26 UAE smart speakers market, by virtual personal assistant, 2017 - 2030 (USD Million)

List of Figures

  • Fig. 1 Market research process
  • Fig. 2 Data triangulation techniques
  • Fig. 3 Primary research pattern
  • Fig. 4 Market research approaches
  • Fig. 5 Value-chain-based sizing & forecasting
  • Fig. 6 QFD modeling for market share assessment
  • Fig. 7 Market formulation & validation
  • Fig. 8 Smart speakers: Market outlook
  • Fig. 9 Smart speakers: Competitive insights
  • Fig. 10 Parent market outlook
  • Fig. 11 Related/ancillary market outlook
  • Fig. 12 Penetration and growth prospect mapping
  • Fig. 13 Industry value chain analysis
  • Fig. 14 Smart speakers market driver impact
  • Fig. 15 Smart speakers market restraint impact
  • Fig. 16 Smart speakers market strategic initiatives analysis
  • Fig. 17 Smart speakers market: Virtual Personal Assistant movement analysis
  • Fig. 18 Smart speakers market: Virtual Personal Assistant outlook and key takeaways
  • Fig. 19 Amazon Alexa market estimates and forecasts, 2017 - 2030
  • Fig. 20 Google assistant market estimates and forecasts, 2017 - 2030
  • Fig. 21 Apple Siri market estimates and forecasts, 2017 - 2030
  • Fig. 22 Others market estimates and forecasts, 2017 - 2030
  • Fig. 23 Global smart speakers market: Regional movement analysis
  • Fig. 24 Global smart speakers market: Regional outlook and key takeaways
  • Fig. 25 North America market estimates and forecasts, 2017 - 2030
  • Fig. 26 U.S. market estimates and forecasts, 2017 - 2030
  • Fig. 27 Canada market estimates and forecasts, 2017 - 2030
  • Fig. 28 Europe market estimates and forecasts, 2017 - 2030
  • Fig. 29 UK market estimates and forecasts, 2017 - 2030
  • Fig. 30 Germany market estimates and forecasts, 2017 - 2030
  • Fig. 31 France market estimates and forecasts, 2017 - 2030
  • Fig. 32 Asia Pacific market estimates and forecasts, 2017 - 2030
  • Fig. 33 Japan market estimates and forecasts, 2017 - 2030
  • Fig. 34 China market estimates and forecasts, 2017 - 2030
  • Fig. 35 India market estimates and forecasts, 2017 - 2030
  • Fig. 36 Australia market estimates and forecasts, 2017 - 2030
  • Fig. 37 South Korea market estimates and forecasts, 2017 - 2030
  • Fig. 38 Latin America market estimates and forecasts, 2017 - 2030
  • Fig. 39 Brazil market estimates and forecasts, 2017 - 2030
  • Fig. 40 Mexico market estimates and forecasts, 2017 - 2030
  • Fig. 41 Middle East and Africa market estimates and forecasts, 2017 - 2030
  • Fig. 42 Saudi Arabia market estimates and forecasts, 2017 - 2030
  • Fig. 43 South Africa market estimates and forecasts, 2017 - 2030
  • Fig. 44 UAE market estimates and forecasts, 2017 - 2030
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