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Smart Speakers Market Size, Share, Trends, Innovations, Outlook 2022-2030

The global smart speakers market size is expected to be worth around US$ 45.3 billion by 2030, according to a new report by Vision Research Reports.

The global smart speakers market size was valued at US$ 5.7 billion in 2020 and is anticipated to grow at a CAGR of 39.5% during forecast period 2021 to 2030.

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Report Coverage

Report Scope Details
Market Size US$ 45.3 Bn by 2030
Growth Rate CAGR of 39.5% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Virtual Personal Assistant
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Amazon; Google; Apple; and Xiaomi

Growth Factors

 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.

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.

By Virtual Personal Assistant Analysis

Amazon Alexa accounted for the dominant share in the global smart speakers market in 2020. Its adoption is rapidly increasing among U.S. consumers due to its first-mover advantage. This adoption is expected to increase over the next few years owing to Alexa’s multiple smart home integrations and Amazon’s strategy to offer its voice assistant to various emerging players in the market. Google’s assistant is anticipated to exhibit significant growth over the forecast period to emerge as the leading VPA segment by 2030.

By Regional Analysis

North America dominated the global market in 2019 owing to the growing demand for Internet-of-Things (IoT)-enabled services and wireless devices. Increasing consumer inclination toward convenience goods in North America has fueled the region’s growth.

Amazon Alexa held a significant share in the European market in 2019 owing to its massive popularity in Germany and U.K. Google Home followed suit, which is expected to dominate the European market over the forecast period owing to its popularity in France, Italy, Spain, and other European countries. As of June 2020, Google Home operates in close to 13 European countries and Amazon Alexa in 11. 

Key Players

 Amazon; Google; Apple; and Xiaomi

Market Segmentation

  • By Virtual Personal Assistant (VPA)
    • Amazon Alexa
    • Google Assistant
    • Apple Siri
    • Others
  • Regional
    • North America
      • The U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
    • Asia Pacific
      • China
      • India
      • Japan
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa

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Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Smart Speakers Market, By Virtual Personal Assistant (VPA)

7.1.  Smart Speakers Market, by Virtual Personal Assistant (VPA), 2021-2030

7.1.1.    Amazon Alexa

7.1.1.1.        Market Revenue and Forecast (2017-2030)

7.1.2.    Google Assistant

7.1.2.1.        Market Revenue and Forecast (2017-2030)

7.1.3.    Apple Siri

7.1.3.1.        Market Revenue and Forecast (2017-2030)

7.1.4.    Others

7.1.4.1.        Market Revenue and Forecast (2017-2030)

Chapter 8.  Global Smart Speakers Market, Regional Estimates and Trend Forecast

8.1.  North America

8.1.1.    Market Revenue and Forecast, by Virtual Personal Assistant (VPA) (2017-2030)

8.1.2.    U.S.

8.1.3.    Rest of North America

8.1.3.1.        Market Revenue and Forecast, by Virtual Personal Assistant (VPA) (2017-2030)

8.2.  Europe

8.2.1.    Market Revenue and Forecast, by Virtual Personal Assistant (VPA) (2017-2030)

8.2.2.    UK

8.2.2.1.        Market Revenue and Forecast, by Virtual Personal Assistant (VPA) (2017-2030)

8.2.3.    France

8.2.3.1.        Market Revenue and Forecast, by Virtual Personal Assistant (VPA) (2017-2030)

8.2.4.    Rest of Europe

8.2.4.1.        Market Revenue and Forecast, by Virtual Personal Assistant (VPA) (2017-2030)

8.3.  APAC

8.3.1.    Market Revenue and Forecast, by Virtual Personal Assistant (VPA) (2017-2030)

8.3.2.    India

8.3.2.1.        Market Revenue and Forecast, by Virtual Personal Assistant (VPA) (2017-2030)

8.3.3.    China

8.3.3.1.        Market Revenue and Forecast, by Virtual Personal Assistant (VPA) (2017-2030)

8.3.4.    Japan

8.3.4.1.        Market Revenue and Forecast, by Virtual Personal Assistant (VPA) (2017-2030)

8.3.5.    Rest of APAC

8.3.5.1.        Market Revenue and Forecast, by Virtual Personal Assistant (VPA) (2017-2030)

8.4.  MEA

8.4.1.    Market Revenue and Forecast, by Virtual Personal Assistant (VPA) (2017-2030)

8.4.2.    GCC

8.4.2.1.        Market Revenue and Forecast, by Virtual Personal Assistant (VPA) (2017-2030)

8.4.3.    North Africa

8.4.3.1.        Market Revenue and Forecast, by Virtual Personal Assistant (VPA) (2017-2030)

8.4.4.    South Africa

8.4.4.1.        Market Revenue and Forecast, by Virtual Personal Assistant (VPA) (2017-2030)

8.4.5.    Rest of MEA

8.4.5.1.        Market Revenue and Forecast, by Virtual Personal Assistant (VPA) (2017-2030)

8.5.  Latin America

8.5.1.    Market Revenue and Forecast, by Virtual Personal Assistant (VPA) (2017-2030)

8.5.2.    Brazil

8.5.2.1.        Market Revenue and Forecast, by Virtual Personal Assistant (VPA) (2017-2030)

8.5.3.    Rest of LATAM

8.5.3.1.        Market Revenue and Forecast, by Virtual Personal Assistant (VPA) (2017-2030)

Chapter 9.    Company Profiles

9.1.  Amazon

9.1.1.    Company Overview

9.1.2.    Product Offerings

9.1.3.    Financial Performance

9.1.4.    Recent Initiatives

9.2.  Google

9.2.1.    Company Overview

9.2.2.    Product Offerings

9.2.3.    Financial Performance

9.2.4.    Recent Initiatives

9.3.  Apple

9.3.1.    Company Overview

9.3.2.    Product Offerings

9.3.3.    Financial Performance

9.3.4.    Recent Initiatives

9.4.  Xiaomi

9.4.1.    Company Overview

9.4.2.    Product Offerings

9.4.3.    Financial Performance

9.4.4.    Recent Initiatives

Chapter 10.  Research Methodology

10.1.              Primary Research

10.2.              Secondary Research

10.3.              Assumptions

Chapter 11.  Appendix

11.1.              About Us

11.2.              Glossary of Terms

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