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Smart Speakers Global Market Report 2023 – By Intelligent Virtual Assistant (Amazon Alexa, Google Assistant, Siri, Cortana), By Application (Smart Home, Smart Office, Consumer), By End User (Personal, Commercial), By Distribution Channel (Online, Offline) – Market Size, Trends, And Global Forecast 2023-2032

Starting Price : $4000.00 | Pages : 175 | Published : January 2023 | SKU CODE : r988 | Delivery Time: 2-3 business days | Format :


Smart speakers (Bluetooth and Wi-Fi enabled) are devices that are integrated with virtual assistant devices powered by artificial intelligence. The companies involved in the smart speakers’ market are engaged in designing, manufacturing, and producing artificial intelligence-assisted speakers which are activated using voice recognition systems.

The main intelligent virtual assistant of smart speakers are Amazon Alexa, Google Assistant, Siri, Cortana, and others. Google Assistant is a virtual assistant powered by artificial intelligence that is primarily available on mobile and smart home devices. The various applications of smart speakers include smart home, smart office, consumer, and others that are distributed through online and offline channels. The smart speakers are used by personal and commercial end-users.

The smart speakers market research report is one of a series of new reports from The Business Research Company that provides smart speakers market statistics, including smart speakers industry global market size, regional shares, competitors with a smart speakers market share, detailed smart speakers market segments, market trends and opportunities, and any further data you may need to thrive in the smart speaker’s industry. This smart speakers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The global smart speakers market will grow from $6.6 billion in 2022 to $7.07 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global smart speakers market is expected to grow to $9.22 billion in 2027 at a CAGR of 6.9%.

With increasing consumer preference for technologically advanced products, there is a rise in the penetration of smartphones and smart devices. The enhanced personal use of smart devices points to the integration of smart devices with devices such as smart lightbulbs, thermostats, and TVs. The consumer interest in technologically advanced products has resulted in 205 million installed smart speakers in 2020 and reached 325 million by 2020.Regional manufacturers are being encouraged to produce innovative and advanced products with customer interest to accept and adopt emerging technology which is expected to drive the market.

Apart from increasing consumer preference for smart speakers the major drawback that’s concerning the market is data privacy and security. These devices have access to the personal information stored in Gmail like contact details, bank details, and login credentials which raise security issues. The devices of a smart home have access to sensitive data like videos, photos, and personal information which can be accessed and operated from anywhere. In May 2020, according to Voicebot.ai, a US-based firm for voice assistance and artificial intelligence, 33% of Americans are concerned about data breaches while using smart speakers and it is the top reason for not purchasing the devices. These issues may hinder market growth if appropriate development in security concerns is not addressed.

Virtual assistant devices are powered by artificial intelligence which offers ultimate luxury to the owner. They keep on listening to the command, analyze the needs, and perform the task when necessary. The Amazon Echo with smart assistant Alexa can be activated with a voice command of one hot word “Alexa”. Siri, the Apple voice assistant provides hands-free activation with deep integration technology and high-quality virtual surround sound and exhibits features like setting the timer, managing calendar events, and more. Google assistant activated with “Ok Google” provides instant access to all of the Google services and the data associated with the Google account. For instance, according to Voicebot.ai, a US-based firm for voice assistance and artificial intelligence report 2021, Amazon sold 16.5 million smart speakers and smart displays followed by Google with 13.2 million, Baidu with 6.6 million, Alibaba with 6.3 million, and Apple with 4.6 million smart speakers in the fourth quarter of the year 2020. The proliferation of virtual assistance is, in turn, driving the smart speaker market.

In April 2022, Sonos, a US-based company operating in wireless speakers and home sound systems acquired Mayht for an undisclosed amount. Through this acquisition, Sonos aims to expand its product portfolio to compact light-powered Bluetooth speakers. Mayht is a Netherlands-based audio technology company.

Major players in the smart speakers market are Amazon Inc., Apple Inc., Xiaomi, Alibaba Group Holding Limited, Sonos. Inc., Harman International, Bose Corporation, Sony Corporation, Onkyo Corporation, and Panasonic Corporation.

Asia-Pacific was the largest region in the smart speakers market in 2022. Africa is expected to be the fastest-growing region in the global smart speakers market during the forecast period. The regions covered in the global smart speakers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the smart speakers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The smart speakers market consists of sales of alexa, google assistant, siri, and other smart speakers. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The global smart speakers market is segmented -

1) By Intelligent Virtual Assistant: Amazon Alexa, Google Assistant, Siri, Cortana, Other Intelligent Virtual Assistants

2) By Application: Smart Home, Smart Office, Consumer, Other Applications

3) By End User: Personal, Commercial

4) By Distribution Channel: Online, Offline

    Table Of Contents

    1. Executive Summary

    2. Smart Speakers Market Characteristics

    3. Smart Speakers Market Trends And Strategies

    4. Smart Speakers Market – Macro Economic Scenario

    4.1 COVID-19 Impact On Smart Speakers Market

    4.2 Ukraine-Russia War Impact On Smart Speakers Market

    4.3 Impact Of High Inflation On Smart Speakers Market

    5. Smart Speakers Market Size And Growth

    5.1. Global Smart Speakers Historic Market, 2017-2022, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Smart Speakers Forecast Market, 2022-2027F, 2032F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Smart Speakers Market Segmentation

    6.1. Global Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Amazon Alexa

    Google Assistant

    Siri

    Cortana

    Other Intelligent Virtual Assistants

    6.2. Global Smart Speakers Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Smart Home

    Smart Office

    Consumer

    Other Applications

    6.3. Global Smart Speakers Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Personal

    Commercial

    6.4. Global Smart Speakers Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Online

    Offline

    7. Smart Speakers Market Regional And Country Analysis

    7.1. Global Smart Speakers Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    7.2. Global Smart Speakers Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    8. Asia-Pacific Smart Speakers Market

    8.1. Asia-Pacific Smart Speakers Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    9. China Smart Speakers Market

    9.1. China Smart Speakers Market Overview

    9.2. China Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

    10. India Smart Speakers Market

    10.1. India Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    11. Japan Smart Speakers Market

    11.1. Japan Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    12. Australia Smart Speakers Market

    12.1. Australia Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    13. Indonesia Smart Speakers Market

    13.1. Indonesia Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    14. South Korea Smart Speakers Market

    14.1. South Korea Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    15. Western Europe Smart Speakers Market

    15.1. Western Europe Smart Speakers Market Overview

    15.2. Western Europe Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    16. UK Smart Speakers Market

    16.1. UK Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    17. Germany Smart Speakers Market

    17.1. Germany Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    18. France Smart Speakers Market

    18.3. France Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    19. Eastern Europe Smart Speakers Market

    19.1. Eastern Europe Smart Speakers Market Overview

    19.2. Eastern Europe Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    20. Russia Smart Speakers Market

    20.1. Russia Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    21. North America Smart Speakers Market

    21.1. North America Smart Speakers Market Overview

    21.2. North America Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    22. USA Smart Speakers Market

    22.1. USA Smart Speakers Market Overview

    22.2. USA Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    23. South America Smart Speakers Market

    23.1. South America Smart Speakers Market Overview

    23.2. South America Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    24. Brazil Smart Speakers Market

    24.1. Brazil Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    25. Middle East Smart Speakers Market

    25.1. Middle East Smart Speakers Market Overview

    25.2. Middle East Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    26. Africa Smart Speakers Market

    26.1. Africa Smart Speakers Market Overview

    26.2. Africa Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    27. Smart Speakers Market Competitive Landscape And Company Profiles

    27.1. Smart Speakers Market Competitive Landscape

    27.2. Smart Speakers Market Company Profiles

    27.2.1. Amazon, Inc.

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. Apple, Inc.

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. Xiaomi

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. Alibaba Group Holding Limited

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. Sonos. Inc.

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    28. Key Mergers And Acquisitions In The Smart Speakers Market

    29. Smart Speakers Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Historic And Forecast Inflation Rates

    30.4. Research Inquiries

    30.5. The Business Research Company

    30.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Table 3: Global Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 4: Global Smart Speakers Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 5: Global Smart Speakers Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 6: Global Smart Speakers Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 7: Global Smart Speakers Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 8: Global Smart Speakers Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 9: Asia-Pacific, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 10: China, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 11: India, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 12: Japan, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 13: Australia, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 14: Indonesia, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 15: South Korea, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 16: Western Europe, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 17: UK, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 18: Germany, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 19: France, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 20: Eastern Europe, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 21: Russia, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 22: North America, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 23: USA, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 24: South America, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 25: Brazil, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 26: Middle East, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 27: Africa, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 28: Amazon, Inc. Financial Performance
  • Table 29: Apple, Inc. Financial Performance
  • Table 30: Xiaomi Financial Performance
  • Table 31: Alibaba Group Holding Limited Financial Performance
  • Table 32: Sonos. Inc. Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Figure 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Figure 3: Global Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 4: Global Smart Speakers Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 5: Global Smart Speakers Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 6: Global Smart Speakers Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 7: Global Smart Speakers Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 8: Global Smart Speakers Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 9: Asia-Pacific, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 10: China, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 11: India, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 12: Japan, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 13: Australia, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 14: Indonesia, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 15: South Korea, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 16: Western Europe, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 17: UK, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 18: Germany, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 19: France, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 20: Eastern Europe, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 21: Russia, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 22: North America, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 23: USA, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 24: South America, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 25: Brazil, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 26: Middle East, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 27: Africa, Smart Speakers Market, Segmentation By Intelligent Virtual Assistant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 28: Amazon, Inc. Financial Performance
  • Figure 29: Apple, Inc. Financial Performance
  • Figure 30: Xiaomi Financial Performance
  • Figure 31: Alibaba Group Holding Limited Financial Performance
  • Figure 32: Sonos. Inc. Financial Performance
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