Smart Speakers Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Component (Hardware, Software), And By Geography - Forecast From 2019 To 2024

  • Published : Jun 2021
  • Report Code : KSI061613008
  • Pages : 126

Smart Speakers Market is projected to grow at a CAGR of 8.24% during the forecast period, reaching a total market size of US$5.922 billion in 2024 from US$3.683 billion in 2018. Smart speakers are wireless, voice-enabled devices with built-in virtual assistants that are capable of streaming audio content, relaying information, and communicating with other devices.

The rising demand for smart home devices will boost the demand for these devices during the given forecast period. Additionally, rising disposable income has increased the ability of consumers to invest in new technology and devices, thus, augmenting the growth of the market through 2024. However, security concerns regarding the private data of consumers might restrict the growth of the smart speakers market during the given time frame.

The “Smart Speakers Market – Forecasts from 2019 to 2024” is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key markets, drivers, restraints, and opportunities in the current market. The report analyses key opportunities in regional markets, and the current technology penetration through lifecycle analysis. The report also analyses the market through comprehensive market segmentation by component and geography.

The smart speakers market has been segmented based on components and geography.  Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific regions. The report also analyses 15 countries across these regions with a thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries presents for the manufacturers.

Major players in the smart speakers market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the smart speakers market.

Smart Speakers Market Scope:

Report Metric Details
 Market size value in 2018  US$3.683 billion
 Market size value in 2024  US$5.922 billion
 Growth Rate  CAGR of 8.24% from 2018 to 2024
 Base year  2018
 Forecast period  2019–2024
 Forecast Unit (Value)  USD Billion
 Segments Covered  Component, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  Amazon, Google, Baidu, Xiaomi, Sony, Bose, Sonos, Apple, Panasonic, Alibaba
 Customization scope  Free report customization with purchase


  • By Component
    • Hardware 
    • Software
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • South Africa
      • Others
    • Asia Pacific
      • China
      • Japan
      • India
      • Others

Frequently Asked Questions (FAQs)

The smart speakers market is projected to reach a total market size of US$5.922 billion in 2024.
The global smart speakers market is projected to grow at a CAGR of 8.24% during the forecast period.
Smart Speakers Market was valued at US$3.683 billion in 2018.
The rising demand for smart home devices will boost the demand for the smart speakers market during the given forecast period.
The smart speakers market has been segmented based on component and geography.
1. Introduction
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the study
1.4. Currency
1.5. Assumptions
1.6. Base, and Forecast Years Timeline
2. Research methodology
2.1. Research Design
2.2. Secondary Sources
3. Executive Summary
4. Market Dynamics
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. Smart Speakers Market by Component
5.1. Hardware
5.2. Software
6. Smart Speakers Market by Geography
6.1. North America
6.1.1. USA
6.1.2. Canada
6.1.3. Mexico
6.2. South America
6.2.1. Brazil
6.2.2. Argentina
6.2.3. Others
6.3. Europe
6.3.1. Germany
6.3.2. France
6.3.3. United Kingdom
6.3.4. Spain
6.3.5. Others
6.4. Middle East and Africa
6.4.1. Israel
6.4.2. Saudi Arabia
6.4.3. Others
6.5. Asia Pacific
6.5.1. China
6.5.2. Japan
6.5.3. India
6.5.4. South Korea
6.5.5. Others
7. Competitive intelligence
7.1. Market Positioning Matrix and Ranking
7.2. Strategies of Key Players
7.3. Recent Investments and Deals 
8. Company Profiles
8.1. Amazon
8.2. Google
8.3. Baidu 
8.4. Xiaomi
8.5.  Sony 
8.6. Bose
8.7. Sonos
8.8. Apple
8.9. Panasonic
8.10. Alibaba