Smart Speakers Market Size, Share & Trends Analysis Report By Virtual Personal Assistant (Amazon Alexa, Google Assistant, Apple Siri), By Region, And Segment Forecasts, 2018 - 2025

Published: Oct, 2018 | Pages: 82 | Publisher: Grand View Research
Industry: Electronics | Report Format: Electronic (PDF)

The global smart speakers market size is expected to reach USD 39.3 billion by 2025 at a 38.7% CAGR over the forecast period, according to a study conducted 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.

Further key findings from the study suggest:

• Amazon Alexa dominated the market in 2017 and is expected to register a CAGR of more than 19.0% over the forecast years. 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.

 Table of Contents

Chapter 1. Methodology and Scope
                  1.1. Research Methodology
                  1.2. Research Scope & Assumptions
                  1.3. List of Data Sources
Chapter 2. Executive Summary
                  2.1. Smart Speakers Market - Industry Snapshot & Key Buying Criteria, 2015 - 2025
                  2.2. Market Summary
                  2.3. Smart Speakers Market, 2015 - 2025
Chapter 3. Smart Speakers Industry Outlook
                  3.1. Market Segmentation
                  3.2. Market Size and Growth Prospects, 2015 - 2025
                  3.3. Value Chain Analysis
                  3.4. Market Dynamics
                      3.4.1. Market driver analysis
                          3.4.1.1. Growing consumer inclination toward smart homes 
                          3.4.1.2. Technological advancements 
                      3.4.2. Market restraint/challenge analysis
                          3.4.2.1. Consumer privacy & security concerns 
                      3.4.3. Market opportunity analysis
                          3.4.3.1. Growing opportunities in the automobile industry & healthcare sector 
                  3.5. Key Opportunities Prioritized
                  3.6. Industry Analysis - Porter's Five Forces Analysis
                  3.7. PEST Analysis 
                  3.8. Competitive & Vendor Landscape 
                      3.8.1. List of key initiatives undertaken by companies, 2017
Chapter 4. Smart Speakers Market: VPA Outlook
                  4.1. Smart Speakers Market Estimates & Forecasts, By VPA, 2017 & 2025 (USD Million)
                  4.2. Amazon Alexa 
                      4.2.1. Market estimates and forecasts, 2015 - 2025 (USD Million, Million Units) 
                      4.2.2. Market estimates and forecasts, by region, 2015 - 2025 (USD Million, Million Units)
                  4.3. Google Assistant
                      4.3.1. Market estimates and forecasts, 2015 - 2025 (USD Million, Million Units)
                      4.3.2. Market estimates and forecasts, by region, 2015 - 2025 (USD Million, Million Units)
                  4.4. Apple Siri 
                      4.4.1. Market estimates and forecasts, 2015 - 2025 (USD Million, Million Units) 
                      4.4.2. Market estimates and forecasts, by region, 2015 - 2025 (USD Million, Million Units)
                  4.5. Others 
                      4.5.1. Market estimates and forecasts, 2015 - 2025 (USD Million, Million Units) 
                      4.5.2. Market estimates and forecasts, by region, 2015 - 2025 (USD Million, Million Units)
Chapter 5. Smart Speakers Market: Regional Outlook
                  5.1. Smart Speakers Market Estimates & Forecasts, By Region, 2017 & 2025 (USD Million, Million Units)
                  5.2. North America 
                      5.2.1. Market estimates and forecasts, 2015 - 2025 (USD Million, Million Units)
                      5.2.2. Market estimates and forecasts, by VPA, 2015 - 2025 (USD Million, Million Units)
                      5.2.3. U.S.
                          5.2.3.1. Market estimates and forecasts, 2015 - 2025 (USD Million, Million Units)
                          5.2.3.2. Market estimates and forecasts, by VPA, 2015 - 2025 (USD Million, Million Units)
                      5.2.4. Canada
                          5.2.4.1. Market estimates and forecasts, 2015 - 2025 (USD Million, Million Units)
                          5.2.4.2. Market estimates and forecasts, by VPA, 2015 - 2025 (USD Million, Thousand Units)
                  5.3. Europe
                      5.3.1. Market estimates and forecasts, 2015 - 2025 (USD Million, Million Units)
                      5.3.2. Market estimates and forecasts, by VPA, 2015 - 2025 (USD Million, Million Units)
                      5.3.3. U.K.
                          5.3.3.1. Market estimates and forecasts, 2015 - 2025 (USD Million, Million Units)
                          5.3.3.2. Market estimates and forecasts, by VPA, 2015 - 2025 (USD Million, Million Units)
                      5.3.4. Germany
                          5.3.4.1. Market estimates and forecasts, 2015 - 2025 (USD Million, Million Units)
                          5.3.4.2. Market estimates and forecasts, by VPA, 2015 - 2025 (USD Million, Million Units)
                      5.3.5. France
                          5.3.5.1. Market estimates and forecasts, 2015 - 2025 (USD Million, Million Units)
                          5.3.5.2. Market estimates and forecasts, by VPA, 2015 - 2025 (USD Million, Million Units)
                  5.4. Asia Pacific
                      5.4.1. Market estimates and forecasts, 2015 - 2025 (USD Million, Million Units)
                      5.4.2. Market estimates and forecasts, by VPA, 2015 - 2025 (USD Million, Million Units)
                      5.4.3. China
                          5.4.3.1. Market estimates and forecasts, 2015 - 2025 (USD Million, Million Units)
                          5.4.3.2. Market estimates and forecasts, by VPA, 2015 - 2025 (USD Million, Million Units)
                      5.4.4. India
                          5.4.4.1. Market estimates and forecasts, 2015 - 2025 (USD Million, Million Units)
                          5.4.4.2. Market estimates and forecasts, by VPA, 2015 - 2025 (USD Million, Million Units)
                      5.4.5. Japan
                          5.4.5.1. Market estimates and forecasts, 2015 - 2025 (USD Million, Million Units)
                          5.4.5.2. Market estimates and forecasts, by VPA, 2015 - 2025 (USD Million, Million Units)
                  5.5. Latin America 
                      5.5.1. Market estimates and forecasts, 2015 - 2025 (USD Million, Million Units)
                      5.5.2. Market estimates and forecasts, by VPA, 2015 - 2025 (USD Million, Million Units)
                      5.5.3. Brazil
                          5.5.3.1. Market estimates and forecasts, 2015 - 2025 (USD Million, Million Units)
                          5.5.3.2. Market estimates and forecasts, by VPA, 2015 - 2025 (USD Million, Million Units)
                      5.5.4. Mexico
                          5.5.4.1. Market estimates and forecasts, 2015 - 2025 (USD Million, Million Units)
                          5.5.4.2. Market estimates and forecasts, by VPA, 2015 - 2025 (USD Million, Million Units)
                  5.6. Middle East & Africa
                      5.6.1. Market estimates and forecasts, 2015 - 2025 (USD Million, Million Units)
                      5.6.2. Market estimates and forecasts, by VPA, 2015 - 2025 (USD Million, Million Units)
Chapter 6. Competitive Landscape
                  6.1. Apple, Inc. 
                      6.1.1. Company overview
                      6.1.2. Financial performance
                      6.1.3. Product benchmarking
                      6.1.4. Recent developments
                  6.2. Amazon, Inc. 
                      6.2.1. Company overview
                      6.2.2. Financial performance
                      6.2.3. Product benchmarking
                      6.2.4. Recent developments 
                  6.3. Bose Corporation
                      6.3.1. Company overview
                      6.3.2. Financial performance
                      6.3.3. Product benchmarking
                      6.3.4. Recent developments 
                  6.4. Baidu, Inc.
                      6.4.1. Company overview
                      6.4.2. Financial performance
                      6.4.3. Product benchmarking
                      6.4.4. Recent developments 
                  6.5. Google, Inc.
                      6.5.1. Company overview
                      6.5.2. Financial performance
                      6.5.3. Product benchmarking
                      6.5.4. Recent developments
                  6.6. Harman International
                      6.6.1. Company overview
                      6.6.2. Financial performance
                      6.6.3. Product benchmarking
                      6.6.4. Recent developments 
                  6.7. Sonos, Inc.
                      6.7.1. Company overview
                      6.7.2. Financial performance
                      6.7.3. Product benchmarking
                      6.7.4. Recent developments 
                  6.8. Sony Corporation
                      6.8.1. Company overview
                      6.8.2. Financial performance
                      6.8.3. Product benchmarking
                      6.8.4. Recent developments 
                  6.9. Ultimate Ears
                      6.9.1. Company overview
                      6.9.2. Financial performance
                      6.9.3. Product benchmarking
                      6.9.4. Recent developments 
                  6.10. Panasonic Corporation
                      6.10.1. Company overview
                      6.10.2. Financial performance
                      6.10.3. Product benchmarking
                      6.10.4. Recent developments 
                  6.11. Xiaomi, Inc.
                      6.11.1. Company overview
                      6.11.2. Financial performance
                      6.11.3. Product benchmarking
                      6.11.4. Recent developments

List of Tables

Table 1 List of Abbreviation
Table 2 Smart speakers market - Industry snapshot & key buying criteria, 2015 - 2025 
Table 3 Smart speakers market, 2015 - 2025 (USD Million, Million Units)
Table 4 Smart speakers, by region, 2015 - 2025 (USD Million)
Table 5 Smart speakers market, by region, 2015 - 2025 (Million Units)
Table 6 Smart speakers market, by VPA, 2015 - 2025 (USD Million)
Table 7 Smart speakers market, by VPA, 2015 - 2025 (Million Units)
Table 8 Amazon Alexa market, 2015 - 2025 (USD Million)
Table 9 Amazon Alexa market, 2015 - 2025 (Million Units)
Table 10 Amazon Alexa market, by region, 2015 - 2025 (USD Million)
Table 11 Amazon Alexa market, by region, 2015 - 2025 (Million Units)
Table 12 Google assistant market, 2015 - 2025 (USD Million)
Table 13 Google assistant market, 2015 - 2025 (Million units)
Table 14 Google assistant market, by region, 2015 - 2025 (USD Million)
Table 15 Google assistant market, by region, 2015 - 2025 (Million Units)
Table 16 Apple Siri market, 2015 - 2025 (USD Million)
Table 17 Apple Siri market, 2015 - 2025 (Million Units)
Table 18 Apple Siri market, by region, 2015 - 2025 (USD Million)
Table 19 Apple Siri market, by region, 2015 - 2025 (Million Units)
Table 20 Others market, 2015 - 2025 (USD Million)
Table 21 Others market, 2015 - 2025 (Million Units)
Table 22 Others market, by region, 2015 - 2025 (USD Million)
Table 23 Others market, by region, 2015 - 2025 (Million Units)
Table 24 North America smart speakers market, 2015 - 2025 (USD Million)
Table 25 North America smart speakers market, 2015 - 2025 (Million Units)
Table 26 North America smart speakers market, by VPA, 2015 - 2025 (USD Million)
Table 27 North America smart speakers market, by VPA, 2015 - 2025 (Million Units)
Table 28 U.S. smart speakers market, 2015 - 2025 (USD Million)
Table 29 U.S. smart speakers market, 2015 - 2025 (Million Units)
Table 30 U.S. smart speakers market, by VPA, 2015 - 2025 (USD Million)
Table 31 U.S. smart speakers market, by VPA, 2015 - 2025 (Million Units)
Table 32 Canada smart speakers market, 2015 - 2025 (USD Million)
Table 33 Canada smart speakers market, 2015 - 2025 (Million Units)
Table 34 Canada smart speakers market, by VPA, 2015 - 2025 (USD Million)
Table 35 Canada smart speakers market, by VPA, 2015 - 2025 (Million Units)
Table 36 Europe smart speakers market, 2015 - 2025 (USD Million)
Table 37 Europe smart speakers market, 2015 - 2025 (Million Units)
Table 38 Europe smart speakers market, by VPA, 2015 - 2025 (Million Units)
Table 39 U.K. smart speakers market, 2015 - 2025 (USD Million)
Table 40 U.K. smart speakers market, 2015 - 2025 (Million Units)
Table 41 U.K. smart speakers market, by VPA, 2015 - 2025 (USD Million)
Table 42 U.K. smart speakers market, by VPA, 2015 - 2025 (Million Units)
Table 43 Germany smart speakers market, 2015 - 2025 (USD Million)
Table 44 Germany smart speakers market, 2015 - 2025 (Million Units)
Table 45 Germany smart speakers market, by VPA, 2015 - 2025 (USD Million)
Table 46 Germany smart speakers market, by VPA, 2015 - 2025 (Million Units)
Table 47 France smart speakers market, 2015 - 2025 (USD Million)
Table 48 France smart speakers market, 2015 - 2025 (Million Units)
Table 49 France smart speakers market, by VPA, 2015 - 2025 (USD Million)
Table 50 France smart speakers market, by VPA, 2015 - 2025 (Million Units)
Table 51 Asia Pacific smart speakers market, 2015 - 2025 (USD Million)
Table 52 Asia Pacific smart speakers market, 2015 - 2025 (Million Units)
Table 53 Asia pacific smart speakers market, by VPA, 2015 - 2025 (USD Million)
Table 54 Asia Pacific smart speakers market, by VPA, 2015 - 2025 (Million Units)
Table 55 China smart speakers market, 2015 - 2025 (USD Million)
Table 56 China smart speakers market, 2015 - 2025 (Million Units)
Table 57 China smart speakers market, by VPA, 2015 - 2025 (USD Million)
Table 58 China smart speakers market, by VPA, 2015 - 2025 (Million Units)
Table 59 India smart speakers market, 2015 - 2025 (USD Million)
Table 60 India smart speakers market, 2015 - 2025 (Million Units)
Table 61 India smart speakers market, by VPA, 2015 - 2025 (USD Million)
Table 62 India smart speakers market, by VPA, 2015 - 2025 (Million Units)
Table 63 Japan smart speakers market, 2015 - 2025 (USD Million)
Table 64 Japan smart speakers market, 2015 - 2025 (Million Units)
Table 65 Japan smart speakers market, by VPA, 2015 - 2025 (USD Million)
Table 66 Japan smart speakers market, by VPA, 2015 - 2025 (Million Units)
Table 67 Latin America smart speakers market, 2015 - 2025 (USD Million)
Table 68 Latin America smart speakers market, 2015 - 2025 (Million Units)
Table 69 Latin America smart speakers market, by VPA, 2015 - 2025 (USD Million)
Table 70 Latin America smart speakers market, by VPA, 2015 - 2025 (Million Units)
Table 71 Brazil smart speakers market, 2015 - 2025 (USD Million)
Table 72 Brazil smart speakers market, 2015 - 2025 (Million Units)
Table 73 Brazil smart speakers market, by VPA, 2015 - 2025 (USD Million)
Table 74 Brazil smart speakers market, by VPA, 2015 - 2025 (Million Units)
Table 75 Mexico smart speakers market, 2015 - 2025 (USD Million)
Table 76 Mexico smart speakers market, 2015 - 2025 (Million Units)
Table 77 Mexico smart speakers market, by VPA, 2015 - 2025 (USD Million)
Table 78 Mexico smart speakers market, by VPA, 2015 - 2025 (Million Units)
Table 79 MEA smart speakers market, 2015 - 2025 (USD Million)
Table 80 MEA smart speakers market, 2015 - 2025 (Million Units)
Table 81 MEA smart speakers market, by VPA, 2015 - 2025 (USD Million)
Table 82 MEA smart speakers market, by VPA, 2015 - 2025 (Million Units)

List of Figures

Fig. 1 Smart speakers market, by 2017 (USD Million)
Fig. 2 Smart speakers market segmentation
Fig. 3 Smart speakers market, 2015 - 2025 (USD Million)
Fig. 4 Value chain analysis
Fig. 5 Smart speakers market driver impact
Fig. 6 Smart speaker market driver impact
Fig. 7 Smart speakers market challenge impact
Fig. 8 Smart speakers market opportunity impact
Fig. 9 Smart speakers penetration & growth prospects mapping
Fig. 10 Smart speakers market - PEST analysis
Fig. 11 Smart speakers market, by VPA, 2017 & 2025 (USD Million)
Fig. 12 Smart Speakers Market, By Region, 2017 & 2025