Smart Voice Assistant Speaker Market Analysis, Siz

Smart Voice Assistant Speaker Market - Global Outlook and Forecast 2017-2022

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A smart voice assistant speaker is also known as a voice-controlled speaker or VPA-enabled speaker. It is a smart device through which the user can control using its voice. The speaker uses artificial intelligence (AI) to play music, find information, and control other connected devices in the house. A smart voice assistant speaker makes use of voice assistant platforms such as Alexa by Amazon, Google Assistant by Google, Cortana by Microsoft, and other platforms.

The global smart voice assistant speaker market will cross $4 billion, growing at an exceptional CAGR of more than 30% during the forecast period 2016-2022. Analysts at Arizton state that the high usage of voice assistants and voice first technology primarily drive the growth.  The usage is expected to increase by over 21% in 2017. Also, the per capita income and increase spending in connected devices and smart homes are driving the global smart voice assistant speaker market.

Smart Voice Assistant Speaker Market at a Glance

 

The report provides a holistic view of the global market, the companies involved in the market, and the factors driving its growth. The report also provides information on some of the latest trends that are likely to become strong market driving forces over the next five years. It also provides the Porter’s Five Forces analysis along with a description of each force and its impact on the market. Further, it also provides complete value chain analysis of the global smart voice assistant speaker market.

Smart Voice Assistant Speaker: Vendor Analysis

Many vendors are expected to enter the market during the forecast period

As the global smart voice assistant speaker market presents a lucrative revenue growth potential, many vendors are expected to enter the market during the forecast period, which is expected to make it highly fragmented. Chinese manufacturers will expand their presence in Europe and North America, which are likely to lead the price war among vendors, and the increased commoditization can also lead to low-quality products being manufactured. Major vendors mentioned in the report Alphabet (Google), Amazon

The other prominent vendors included in the report are Beijing LingLong, Fabriq, Jam Audio, HARMAN, Invoxia, Lenovo, Mattel, Mycroft, NVIDIA, and Sony.

Other emerging vendors are Swan Solutions, Cubic Robotics, Silk Labs, Protonet, Interactive Voice, and SPACO.

 Smart Voice Assistant Speaker: Market Dynamics

Increased penetration in developed countries to drive the market

The global smart voice assistant speaker market is likely to witness an increase in revenue during the period 2016−2022. However, Arizton expects that the YoY growth will relatively slowdown continuously after that. The major reason being increased penetration of smart voice assistant speakers globally, especially in developed countries such as the US, Germany, and the UK. In 2016−2022, in value terms, the YoY growth of smart voice assistant speakers will be in double digits due to the high demand from North America and Europe coupled with the rise in awareness about these devices in developing countries of APAC and RoW.

Increasing popularity of voice-first technology and growing push for digital economy in developing economies are among the latest trends that are likely to drive the market growth. The usage of voice search is witnessing an unprecedented growth among consumers worldwide. There has been a sudden rise in the volume of voice searches in the recent past. Voice searches will have a large anticipated impact on the marketplace in terms of advertising, payment, and processing among others. Increasing dominance of voice searches demonstrates the ongoing widespread popularity of voice-first technology. With an increasing influx of these devices on the consumer mainstream household equipment category, the market is witnessing a major spurt in the demand for smart voice assistant speakers in the US and other parts of the world.

Smart Voice Assistant Speaker: Geographical Analysis

North America is likely to account for market shares of 42.87% and 49.74% in terms of unit shipment and revenue, respectively, in 2022.

The penetration of smart voice assistant speaker in the US is increasing rapidly. For instance, about 13 million US households had purchased at least one smart voice assistant speaker until December 2016. This number of households   is expected to increase 2.5 times by the end of 2017 from the same in 2016. However, North America will lose a major chunk of its share in the global market to Europe and APAC during the forecast period.

The global smart voice assistant speaker market will cross $4 billion, growing at a majestic CAGR more than 30% during the forecast period 2016−2022. The market is majorly driven by the fast-paced and advanced lifestyle in developed countries such as the US, Canada, the UK, and Germany.  Though the North America will remain as the largest market, the European region is also witnessing tremendous growth and likely to be the second largest market for smart voice assistant speakers. Connected devices are witnessing a high popularity in the European market, and smart voice assistant speakers are also gaining popularity.

                       Smart Voice Assistant Market : Geographical Segmentation and Market Size 2016 ($ million)

Smart Voice Assistant Speaker Market Size in Different Geographies 2016

Report Timeline

  • Historic Year:              2014−2015
  • Base Year:                  2016  
  • Forecast Year:            2017−2022  

 

Major Vendors included in the report are as followings

  • Alphabet (Google)
  • Amazon

The other prominent vendors in the smart voice assistant speaker market are Beijing LingLong, Fabriq, Jam Audio, HARMAN, Invoxia, Lenovo, Mattel, Mycroft, NVIDIA, Sony.

Other emerging vendors are Swan Solutions, Cubic Robotics, Silk Labs, Protonet, Interactive Voice, SPACO.

Scope of the Report

The report considers the crucial facts of the global smart voice assistant speaker market and provides the growth forecast for the period 2017–2022. It includes a detailed study of growth drivers, trends, and restraints.

The market size includes the sale of smart voice assistant speaker used by individuals for the home purpose only. It excludes the revenue generated from the sale of smart hubs. The report differentiates smart hubs from smart voice assistant speakers on the basis that smart hubs are compatible with a wide range of smart things as well as smart light bulbs, switches, and outlets.

The report provides the analysis of key segments of the market in terms distribution channel, geography, and vendors. It provides a detailed analysis of the revenue from the following segments:

  • Revenue
  • Shipment

Distribution Channels

  • Retail
  • Mass market players
  • Electronic stores
  • Online stores

Major Geographies

  • APAC
  • Europe
  • North America
  • RoW

 The report includes leading trends, drivers, and restraints for each region.

1          Research Methodology

2          Research Objectives

3          Research Process

4          Report Coverage

4.1       Market Definition

4.2       Base Year

4.3       Scope of Study

4.3.1   Market Segmentation by Product Type

4.3.2   Market Segmentation by End User

4.3.3   Market Segmentation by Geography

 

5          Report Assumptions & Caveats

5.1       Currency Conversion rate

5.2       Market Derivation

 

6          Market at a glance

7          Introduction

7.1       Virtual-assistance Technology

7.2       Macroeconomic Factors Helping in Market Growth

7.2.1   Per Capita GDP in Developing Markets

7.2.2   Dual-income Households in Developed Markets

 

8          Market Dynamics

8.1       Market Growth Enablers

8.1.1   Increased Instances of Voice Searches

8.1.2   Penetration of Broadband and Internet Connections

8.1.3   Increased Adoption of Smart Homes

8.1.4   YOY Impact of Market Growth Enablers

8.1.5   Impact of Market Growth Enablers

8.2       Market Restraints

8.2.1   Low Internet Penetration in Developing Economies

8.2.2   Security Issues and Ethical Concerns

8.2.3   YOY Impact of Market Restraints

8.2.4   Impact of Market Restraints

8.3       Market Opportunities & Trends

8.3.1   Increasing Popularity of Voice-first Technology

8.3.2   Increasing Investment on IoT by Vendors

8.3.3   Growing Push for Digital Economy in Developing Economies

8.3.4   Impact of Market Trends and Opportunities

8.3.5   Impact of Market Trends and Opportunities

8.3.6   Sensitivity Analysis of Key Market Trends

 

9          Value Chain Analysis

9.1       Overview

9.1.1   Raw Materials

9.1.2   Manufacturers

9.1.3   Distributors/Dealers

9.1.4   Retailers

9.1.5   End-user

 

10        Global Smart Voice Assistant Speaker Market

10.1    Historical Market SIZE

10.2    Market Size and Forecast

10.3    Porter’s Five Forces Analysis

10.3.1 Threat of New Entrants

10.3.2 Bargaining Power of Suppliers

10.3.3 Bargaining Power of Buyers

10.3.4 Threat of Substitutes

10.3.5 Competitive Rivalry

 

11        Smart Voice Assistant Speaker Market - Distribution Channels

11.1    Distribution Overview

11.1.1 Manufacture, Production, and Distribution

11.1.2 Distribution through Retail Stores

11.1.3 Distribution through Online Websites

 

12        Smart Voice Assistant Speaker Market – By Geography

12.1    Market Overview

 

13        North America: Smart Voice Assistant Speaker Market

13.1    Market Size and Forecast

13.2    Key Countries

13.3    Leading Trend, Driver, and Restraint

 

14        Europe: Smart Voice Assistant Speaker Market

14.1    Market Size and Forecast

14.2    Key Countries

14.3    Leading Trend, Growth Enablers, and Restraint

 

15        APAC: Smart Voice Assistant Speaker Market

15.1    Market Size and Forecast

15.2    Key Countries

15.3    Leading Trend, Growth Enabler, and Restraint

 

16        RoW: Smart Voice Assistant Speaker Market

16.1    Market Size and Forecast

16.2    Key Countries

16.3    Leading Trend, Growth Enabler, and Restraint

 

17        Competitive Landscape

17.1    Competitive overview

17.2    Market Structure and Mapping of Competition

17.2.1 Herfindahl-Hirschman Index

 

18        Key Company Profiles

18.1     Alphabet (Google)

18.1.1 Business Overview

18.1.2 Business Segment

18.1.3 Geographical Segment

18.1.4 Google in Smart Voice-assistant Speaker Market

18.1.5 Product Offerings

18.1.6 Key Strategies

18.1.7 Key Strengths

18.1.8 Key Opportunities

18.2     Amazon.com

18.2.1 Business Overview

18.2.2 Business Segment

18.2.3 Amazon in Smart Voice-assistant Speaker Market

18.2.4 Product Offerings

18.2.5 Key Strategies

18.2.6 Key Strength

18.2.7 Key Opportunities

 

19        Other Prominent Companies

19.1    Apple

19.1.1 Overview

19.1.2 Product Offering

19.1.3 Strategy

19.1.4 Strength

19.2    Beijing LingLong

19.2.1 Overview

19.2.2 Product Offering

19.2.3 Strategy

19.2.4 Strength

19.3    Fabriq

19.3.1 Overview

19.3.2 Product Offering

19.3.3 Strategy

19.3.4 Strength

19.4    JAM Audio

19.4.1 Overview

19.4.2 Product Offering

19.4.3 Strategy

19.4.4 Strength

19.5    Harman International Industries

19.5.1 Overview

19.5.2 Product Offering

19.5.3 Strategy

19.5.4 Strength

19.6    Invoxia

19.6.1 Overview

19.6.2 Product Offering

19.6.3 Strategy

19.6.4 Strength

19.7    Lenovo

19.7.1 Overview

19.7.2 Product Offering

19.7.3 Strategy

19.7.4 Strength

19.8    Mattel

19.8.1 Overview

19.8.2 Product Offering

19.8.3 Strategy

19.8.4 Strength

19.9    Mycroft AI

19.9.1 Overview

19.9.2 Product Offering

19.9.3 Strategy

19.9.4 Strength

19.1    NVIDIA

19.10.1 Overview

19.10.2 Product Offering

19.10.3 Strategy

19.10.4 Strength

19.11  Sony

19.11.1 Overview

19.11.2 Product Offering

19.11.3 Strategy

19.11.4 Strength

19.12  Other Prominent Vendors Worth Mentioning

 

20        Report Summary

20.1    Key Takeaways

20.2    Strategic Recommendations

20.3    Qualitative Summary of Global Smart Voice Assistant Speaker Market

20.4    Quantitative Summary of Global Smart Voice Assistant Market

 

21        Appendix

21.1    List of Abbreviations

           

           

List of Exhibits

Exhibit 1         Segmentation of Smart Voice Assistant Speaker Market

Exhibit 2         Market Size Calculation Approach 2016

Exhibit 3         Dual-income Households in US (1970 Vs. 2015)

Exhibit 4         Primary Reason for Using Voice Assistants and Voice Searches in US 2016

Exhibit 5         Primary Place of Voice Usage by US Nationals 2016

Exhibit 6         Voice Query on Hound Application in US by Major Categories

Exhibit 7         Total Fixed Broadband Subscriptions by Various Countries as of June 2016 (million)

Exhibit 8         Total Mobile Broadband Subscriptions by Select Countries as of June 2016 (million)

Exhibit 9         Smart Homes in North America and Europe by Installed Base (million units)

Exhibit 10       Internet Penetration in Asian Countries March 2017

Exhibit 11       Google Trends for Voice Searches June 2008–March 2017

Exhibit 12       Expected Contribution of Mobile Internet and IoT in GDP Growth in APAC by 2025

Exhibit 13       Sensitivity Analysis of Key Market Trends 2016–2022

Exhibit 14       Value Chain Analysis of Smart Voice-assistant Speaker 2016

Exhibit 15       Global Smart Voice Assistant Speaker Market 2014−2015

Exhibit 16       Global Smart Voice Assistant Speaker Market 2016−2022 (million units)

Exhibit 17       End-user of Voice Search by Age Category October 2016–March 2017

Exhibit 18       Global Smart Voice Assistant Speaker Market 2016−2022 ($ million)

Exhibit 19       Comparison of CAGR of Global Speaker Market vis-à-vis Global Smart Voice Assistant Speaker Market 2016−2022

Exhibit 20       ASP of Smart Voice Assistant Speaker ($)

Exhibit 21       Global Urban and Rural Human Population (million)

Exhibit 22       Women Workforce in Japan

Exhibit 23       Penetration of Smartphones in North America, Western Europe, and APAC

Exhibit 24       Global Internet-based Offline Retail Sales vis-à-vis Brick-and-mortar and Online Sales

Exhibit 25       Five Forces Analysis 2016

Exhibit 26       Various Distribution Channels of Global Smart Voice-assistant Speaker Market

Exhibit 27       Distribution Channel Flow of Smart Voice Assistant Speakers

Exhibit 28       Smart Voice-assistant Speakers Market by Distribution Channels 2016

Exhibit 29       Market Share of Various Regions in Global Smart Voice Assistant Speaker Market

Exhibit 30       Comparison of CAGR of Key Geographies

Exhibit 31       Annual Saving Ratio of US

Exhibit 32       Smart Voice Assistant Speaker Market in North America (million units)

Exhibit 33       Change in US GDP Growth Rate

Exhibit 34       Smart Voice Assistant Speaker Market in North America ($ million)

Exhibit 35       Smart Voice Assistant Speaker Market in Europe (million units)

Exhibit 36       Changes in Per Capita Disposable Income in EU-28 Countries

Exhibit 37       Annual Saving Ratio of Western European Countries

Exhibit 38       Change in Annual Household Disposable Income in Europe (%)

Exhibit 39       Smart Voice Assistant Speaker Market in Europe ($ million)

Exhibit 40       Smart Voice Assistant Speaker Market in Europe by Key Countries (Unit Shipment) 2016

Exhibit 41       Smart Voice Assistant Speaker Market in APAC (million units)

Exhibit 42       Gross Domestic Savings of China, India, and South Korea (percentage of income)

Exhibit 43       Increase in Urban Population in APAC (Overall Population %)

Exhibit 44       Smart Voice Assistant Speaker Market in APAC ($ million)

Exhibit 45       Comparison of Southeast Asian Countries with Income Brackets

Exhibit 46       Urban Households in China: Income Breakup

Exhibit 47       Smart Voice Assistant Speaker Market in RoW (million units)

Exhibit 48       Smart Voice Assistant Speaker Market in RoW ($ million)

Exhibit 49       Overview of Market Concentration in Various Geographies 2016 (as illustrated by HHI)

Exhibit 50       Global Smart Voice Assistant Speaker Market by Vendor Share 2016

Exhibit 51       Alphabet Revenue Generation by Business Segment FY2016

Exhibit 52       Alphabet Revenue Generation by Geographical Segment FY2016

Exhibit 53       Amazon.com Revenue Generation by Business Segment 2016

 

List of Tables

Table 1            Key Geographies Definition

Table 2            Key Caveats

Table 3            Currency Conversion 2013−2016

Table 4            Several Virtual Assistants in Market (May 2017)

Table 5            Real GDP per Capita Growth in Various Developing Countries 2013–2015

Table 6            Impact of Market Growth Enablers

Table 7            Impact of Market Growth Enablers 2016

Table 8            Average Internet Speed in Select APAC Countries 2016

Table 9            YOY Impact of Market Restraints

Table 10         Impact of Market Restraints 2016

Table 11         Average IoT Expenditure by Various Industries 2015 (overall % of revenue)

Table 12         Digitization Plans of Select Countries in APAC

Table 13         YOY Impact of Market Trends and Opportunities

Table 14         Impact of Market Trends and Opportunities 2016

Table 15         Bose Product Bundling in Market

Table 16         Smart Speaker by Alphabet

Table 17         Smart Speaker by Amazon

Table 18         Product in Development Stage as of February 2017

Table 19         Qualitative Summary of Global Smart Voice-Assistant Speaker Market

Table 20         Quantitative Summary of Global Smart Voice-Assistant Speaker Market by Geography(million units)

Table 21         Quantitative Summary of Global Smart Voice-Assistant Speaker Market by Geography($ million )

Table 22         Quantitative Summary of Global Smart Voice-Assistant Speaker Market by Geography(Revenue % )

           

           

           

 

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