Smart Speaker Market Share

Smart Speaker Market Share

About Smart Speakers

A Smart Speaker integrates a wireless speaker and a virtual assistant that responds to voice commands and that is activated by “hot” words. Some speakers can act as smart devices that utilize WiFi, Bluetooth, or other wireless protocols. They can manage other devices and can act as a Smart Home Hub. Each type of smart speaker has unique features, abilities, and integrations. Smart speakers can also have video displays and cameras to help a user interact with and manage their device. You can find Smart Speaker Market Share, Smart Speaker Sales, Smart Speaker Market Size and other related Smart Speaker Statistics and Trends below.

Smart Speaker Market Share and Smart Speaker Market Size, 2018 - 2021

Smart Speaker Market Share

The chart above shows the Smart Speaker Market Share and Smart Speaker Market Size from 2018 to 2021. In 2018, the revenues in this market were estimated to be $6.3B and is projected to grow 21% year-on-year to $11.2B by 2021. The top Smart Speaker market share leader is Amazon Alexa with a 38% market share,followed by Google Assistant with 30% market share and Apple Siri with 12% market share. Other players such as Baidu are expected to grow faster in the next few years and eat into the top vendor market shares.

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Smart Speaker Market Size Installed Base by Top Country Markets, 2018- 2019
Smart Speaker Market Size Installed Base

The chart above shows the estimated Smart Speaker Market Installed Base for the top Country Markets in 2018 and 2019. The leading country, with a 52% share of the global Smart Speaker market installed base was the U.S., followed by Mainland China with a 25% share and UK with a 10% share. View the source for this Smart Speaker Market Installed Base by Country chart and other Smart Speaker Market estimates here.

Smart Speakers Market Growth Drivers

Smart Speakers are seen as the cornerstone of the smart home experience and are gaining popularity across the consumer IoT industry. These devices are being designed to serve as a hub to connect with various digital streaming platforms, smart TVs and other devices, making them an essential smart home device to control other devices with a simple voice command. The growing popularity of voice assisted online shopping, is also one of the key growth drivers for these devices and will continue to be among its top applications by consumers. This market has also benefited from growing competition, and smart speakers are now available at various price points making the market more accessible to a wider consumer base.

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Do Research Firms Agree on Smart Speaker Market Share, Size, and Growth?

Research firms usually track the unit shipment of Smart Home devices across regions as reported by the top vendors. Therefore, estimates for the Smart Speaker Market Share, Market Size Smart Speaker Sales, and other Smart Speaker Statistics are generally within the same ballpark across most reports. The main disagreement is how fast the market will grow as analysts have differing views on how much data privacy concerns among consumers will impact future growth and consumer adoption. There is an overall consensus that Smart Speakers will continue to see strong growth in the Smart Home market and be a leader among the Home Control & Connectivity subsegment. For more in depth research T4 recommends exploring all available sources. T4 has aggregated and organized the data from these sources on the T4 Industry Research Platform. See each source’s view of the Smart Speaker market on the T4 Platform.

What Additional Smart Speaker Data Does T4 Have?

T4 comprehensively aggregated more than 60 reports from more than 15 publishers covering statistics and trends in the Smart Home Industry. This includes data on Smart Speaker Sales, Smart Speaker Installed Base, Smart Speaker market share segmented  by vendor and across regions/countries, as well as other Smart Speaker Statistics. You can also read about survey results and statistics that answer key questions such as smart speaker adoption trends, consumer needs and new IoT standards impacting its growth. The Industry falls under T4's IoT Consumer Electronics industry coverage. Industries related to the Smart Speakers Market in the T4 taxonomy include IoT Voice Assistance, IoT Consumer Electronics, IoT Home Audio, Smart Home, and Smart Appliances. You can find reports covering these industries on T4’s Platform.

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