PUBLISHED DATE : Jul 2018 | Pages : 172
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U.S. Smart Speaker Market Size, Share, & Trends Analysis Report on Segmentation By Device Type (First-Party Devices And Third-Party Devices), By End-Users (Retail And Online), And By Distribution Channel (Retail And Online) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2018 – 2023
172 Pages
26 Tables
60 Charts
1 Regions
1 Countries
37 Companies
4 Market Segment
| Report Attribute | Details |
|---|---|
| MARKET SIZE (REVENUE) | USD 9 BILLION (2023) |
| MARKET SIZE (UNIT SHIPMENT) | 94 MILLION UNIT (2023) |
| CAGR | 21% (2017-2023) |
| BASE YEAR | 2017 |
| FORECAST YEAR | 2018-2023 |
| MARKET SEGMENTS | Device Type (First-Party Devices And Third-Party Devices), By End-Users (Retail And Online), And By Distribution Channel (Retail And Online) |
| GEOGRAPHIC ANALYSIS | United States |
| COUNTRIES COVERED | United States |
The increasing number of consumers replying on smartphones for convenience of information is one of the primary factors promoting the U.S. smart speaker market growth. The introduction of voice-assistance technology that can assist consumers and make their life convenient will transform the industry. The integration of prominent virtual assistants such as Siri (Apple), Alexa (Amazon), Google Assistant (Google), and Cortana (Microsoft) with smart applications is gaining immense traction in the United States. The economic growth that helps in the expansion of businesses with access to finance sources, B2B marketing spends, and general economic activities will create lucrative opportunities for manufacturers in the United States. The growing preference for connected devices is promoting the demand and sales in the United States. The launch of the new product model that provide ease-of-use along with a taste of innovation will lead to the introduction of various models such as wireless speakers, Bluetooth speakers, and others. The introduction of new devices with voice technology and product innovations will transform the industry in United States. The increasing number of dual-income households and in the spending capacity among consumers will generate higher revenues during the forecast period. Such factors are propelling the growth of the U.S. smart speaker market and will boost demands during the forecast period.
The rising investment in IoT by leading vendors is augmenting the development of the U.S. smart speaker market over the next few years. The growing efforts to digitalize the economy, rising internet penetration, increasing internet speed and the use of smart home applications will transform the industry during the forecast period. The investments in IoT will help to streamline the manufacturing processes, supply chain management (SPM), and deliver more personalized customer experiences. The data collected from smart devices will help vendors analyze and share real-time data that provides valuable insights into user preferences. The companies leverage this data to advertise smart devices in the United States. The emergence of IoT will have a positive impact on product design, development, manufacturing, marketing, sales, aftersales, and offering seamless and customized consumer experience. Furthermore, the use of IoT for product improvement will boost sales in the U.S. smart speaker market.
This research report includes a detailed segmentation analysis by device type, end-users, and distribution channel.
The U.S. smart speaker market by device type is segmented into first-party devices and third-party devices. The first-party device segment dominated majority of the U.S. smart speaker market share in 2017, growing at a CAGR of more than 13% during the forecast period. The leading players are focusing on improving the sound quality and product differentiation to gain a larger U.S. smart speaker market share in this segment. Amazon and Google are the leading manufacturers in this segment in the United States. The increasing in number of collaborations among top companies to provide smart eco-systems and improve their smart-assistant platforms will boost sales in this segment. Hardware vendors are leveraging their audio quality and design expertise to gain a larger share and offer superior first-party devices in US. The focus on expanding product portfolios and technological innovations will drive revenues and sales in the US market.
The end-user segment in the U.S. smart speaker market is classified into residential and commercial end-users. The commercial end-users segment occupied a significant share in 2017, growing at a CAGR of approximately 33% during the forecast period. The commercial segment users use these smart devices across their smart offices, small retail stores, home offices, educational institutions, and among others. The growing popularity of these smart speakers across small home offices and educational institutions will propel the growth of the commercial end-user segment. The introduction of devices such as Echo Plus and Google Home Max are gaining immense popularity in the commercial end-user segment in the US. Furthermore, the launch of Amazon Show that find applications across smart offices in this segment will transform the industry. The launch of new and innovative products will propel the growth of this sector.
The U.S. smart speaker market by distribution channel is divided into online and retail (specialty stores (mono-brand), mass market players, and electronic stores). Online retail channels dominated the largest industry share in 2017, growing at a CAGR of approximately 14% during the forecast period. The exponential growth of online OEMs’ e-commerce portals and online direct-to-consumer stores such as Amazon.com, eBay.com, and Bestbuy.com is propelling the development of this segment in the US market. The companies are leveraging social media to promote and advertise their products and attract new consumers in the US market. The factors such as ease-of-accessibility and convenience afforded by such channels will boost revenues in the US market.
Device Type
End-User Type
Distribution Channel
The US smart speaker market size is expected to reach revenues of around $9 billion by 2023, growing at an impressive CAGR of approximately 21% 2018–2023.
The US smart speaker market is driven by the introduction of speakers with voice technology. The increasing focus on product innovations and growing demand for connected devices will boost sales and revenues in the US market. The market research report provides in-depth market analysis and segmental analysis of the US smart speaker market by device type, distribution channels, and end-users.
Market Size:
Base Year: 2017
Forecast Year: 2018–2023
The study considers the present scenario of the US smart speaker market and its market dynamics for the period 2018−2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market.
Major Vendors in the US Smart Speaker Market
Prominent Players in the US Smart Speaker Market
Market Segmentation by Device Type
Market Segmentation by End-User Type
Market Segmentation by Distribution Channel
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 Device Type
4.3.2 Market Segmentation by End-user Type
4.3.3 Market Segmentation by Distribution Channel Type
4.3.4 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Inclusions
5.3 Exclusions
5.4 Currency Conversion
5.5 Market Derivation
6 Market at a glance
7 Introduction
7.1 Overview of Virtual Assistants
7.2 MacroEconomic Factors Enabling Market Growth
7.2.1 Economic Development
7.2.2 Increase in Per Capita GDP
7.2.3 Dual-income Households
8 U.S. Smart Speaker Market Dynamics
8.1 U.S. Smart Speaker Market Growth Enablers
8.1.1 Voice Searches Gaining Prominence
8.1.2 Increased Adoption of Smart Homes
8.1.3 Growing Online Music Streaming
8.1.4 YOY Impact of Market Growth Enablers
8.2 U.S. Smart Speaker Market Growth Restraints
8.2.1 Volatility in Raw Material Prices and Increasing Labor Costs
8.2.2 Security Issues and Ethical Concerns
8.2.3 YOY Impact of Market Growth Restraints
8.3 U.S. Smart Speaker Market Opportunities & Trends
8.3.1 Increasing Popularity of Voice-first Technology
8.3.2 Increased Investment in IoT by Vendors
8.3.3 Increasing Influence of Internet in Shaping End-users' Purchasing Behavior
8.3.4 YOY Impact of Market Opportunities & Trends
9 Value Chain Analysis
9.1 Value Chain overview
9.2 Value Chain Analysis
9.2.1 Raw Material and Component Suppliers
9.2.2 Manufacturers
9.2.3 Distributors/Dealers/Retailers
9.2.4 Retailers
9.2.5 End-user
10 Introduction to Smart Home
10.1 Overview
10.2 IoT Specialized Networks
10.2.1 Bluetooth
10.2.2 ZigBee
10.2.3 Z-Wave
10.2.4 Thread
10.2.5 Wi-Fi
10.2.6 Cellular
10.3 Opportunities in Connected Living Market
10.4 Smart Device Ownership
11 Market Landscape
11.1 Smart Home Devices market in US
11.1.1 Market Overview
11.1.2 Market Size & Forecast
11.2 U.S. Smart Speaker Market
11.2.1 Historical Data 2014−2016
11.2.2 Market Size & Forecast 2017−2023
11.3 Porter’s Five Forces Analysis
11.3.1 Threat of New Entrants
11.3.2 Bargaining Power of Suppliers
11.3.3 Bargaining Power of Buyers
11.3.4 Threat of Substitutes
11.3.5 Competitive Rivalry
12 U.S. Smart Speaker Market by Device Type
12.1 Market Overview
12.2 First-party U.S. Smart Speaker Market
12.2.1 Market Size & Forecast
12.3 Third-party U.S. Smart Speaker Market
12.3.1 Market Size and Forecast
13 U.S. Smart Speaker Market by End-Users
13.1 Market Overview
13.2 Market Size & Forecast
13.2.1 Residential U.S. Smart Speaker Market
13.2.2 Commercial U.S. Smart Speaker Market
14 U.S. Smart Speaker Market by Distribution Channel
14.1 Market Overview
14.2 Manufacture, Production, and Distribution
14.3 Distribution through Retail Stores
14.4 Distribution through Online Websites
15 Competitive Landscape
15.1 Market Overview
15.2 Market Share Analysis
16 Key Company Profiles
16.1 Alphabet (Google)
16.1.1 Business Overview
16.1.2 Business Segments
16.1.3 Geography Segments
16.1.4 Alphabet (Google) in U.S. Smart Speaker Market
16.1.5 Major Product Offerings
16.1.6 Key Strategies
16.1.7 Key Strengths
16.1.8 Key Opportunities
16.2 Amazon.com
16.2.1 Business Overview
16.2.2 Business Segments
16.2.3 Amazon.com in U.S. Smart Speaker Market
16.2.4 Major Product Offerings
16.2.5 Key Strategies
16.2.6 Key Strengths
16.2.7 Key Opportunities
16.3 HARMAN International (Samsung)
16.3.1 Business Overview
16.3.2 HARMAN International in U.S. Smart Speaker Market
16.3.3 Major Product Offerings
16.3.4 Key Strategies
16.3.5 Key Strengths
16.3.6 Key Opportunities
16.4 Sonos
16.4.1 Business Overview
16.4.2 Sonos in U.S. Smart Speaker Market
16.4.3 Major Product Offerings
16.4.4 Key Strategies
16.4.5 Key Strengths
16.4.6 Key Opportunities
17 Other Prominent Vendors
17.1 Anker Innovations
17.1.1 Overview
17.1.2 Product Offering
17.1.3 Strategy
17.1.4 Strength
17.2 Apple
17.2.1 Overview
17.2.2 Product Offering
17.2.3 Strategies
17.2.4 Strengths
17.3 Avnera
17.3.1 Overview
17.3.2 Product Offering
17.3.3 Strategy
17.3.4 Strength
17.4 Baidu
17.4.1 Overview
17.4.2 Product Offering
17.4.3 Strategy
17.4.4 Strength
17.5 Beijing LingLong (JD.com)
17.5.1 Overview
17.5.2 Product Offering
17.5.3 Strategy
17.5.4 Strength
17.6 Deutsche Telekom
17.6.1 Overview
17.6.2 Product Offering
17.6.3 Strategy
17.6.4 Strength
17.7 Fabriq
17.7.1 Overview
17.7.2 Product Offering
17.7.3 Strategy
17.7.4 Strength
17.8 Facebook
17.8.1 Overview
17.8.2 Product Offering
17.8.3 Strategy
17.8.4 Strength
17.9 JAM Audio
17.9.1 Overview
17.9.2 Product Offering
17.9.3 Strategy
17.9.4 Strength
17.10 KaKao
17.10.1 Overview
17.10.2 Product Offering
17.10.3 Strategy
17.10.4 Strength
17.11 KitSound by Kondor
17.11.1 Overview
17.11.2 Product Offering
17.11.3 Strategy
17.11.4 Strength
17.12 KT
17.12.1 Overview
17.12.2 Product Offering
17.12.3 Strategy
17.12.4 Strength
17.13 Invoxia
17.13.1 Overview
17.13.2 Product Offering
17.13.3 Strategy
17.13.4 Strength
17.14 Lenovo
17.14.1 Overview
17.14.2 Product Offering
17.14.3 Strategy
17.14.4 Strength
17.15 LG Electronics
17.15.1 Overview
17.15.2 Product Offering
17.15.3 Strategy
17.15.4 Strength
17.16 Libratone
17.16.1Overview
17.16.2 Product Offering
17.16.3 Strategy
17.16.4 Strength
17.17 Line
17.17.1 Overview
17.17.2 Product Offering
17.17.3 Strategy
17.17.4 Strength
17.18 Mobvoi
17.18.1 Overview
17.18.2 Product Offering
17.18.3 Strategy
17.18.4 Strength
17.19 Mycroft AI
17.19.1Overview
17.19.2 Product Offering
17.19.3 Strategy
17.19.4 Strength
17.20 Naver
17.20.1Overview
17.20.2 Product Offering
17.20.3 Strategy
17.20.4 Strength
17.21 NVIDIA
17.21.1 Overview
17.21.2 Product Offering
17.21.3 Strategy
17.21.4 Strength
17.22 Onkyo & Pioneer
17.22.1 Overview
17.22.2 Product Offering
17.22.3 Strategy
17.22.4 Strength
17.23 Orange
17.23.1 Overview
17.23.2 Product Offering
17.23.3 Strategy
17.23.4 Strength
17.24 Panasonic
17.24.1 Overview
17.24.2 Product Offering
17.24.3 Strategy
17.24.4 Strength
17.25 Samsung Electronics
17.25.1 Overview
17.25.2 Product Offering
17.25.3 Strategy
17.25.4 Strength
17.26 SK Telecom
17.26.1 Overview
17.26.2 Product Offering
17.26.3 Strategy
17.26.4 Strength
17.27 Sony
17.27.1 Overview
17.27.2 Product Offering
17.27.3 Strategy
17.27.4 Strength
17.28 Telefónica
17.28.1 Overview
17.28.2 Product Offering
17.28.3 Strategy
17.28.4 Strength
17.29 Tencent
17.29.1 Overview
17.29.2 Product Offering
17.29.3 Strategy
17.29.4 Strength
17.30 TIBO
17.30.1 Overview
17.30.2 Product Offering
17.30.3 Strategy
17.30.4 Strength
17.31 Ultimate Ears (Logitech)
17.31.1 Overview
17.31.2 Product Offering
17.31.3 Strategy
17.31.4 Strength
17.32 Xiaomi
17.32.1 Overview
17.32.2 Product Offering
17.32.3 Strategy
17.32.4 Strength
17.33 Yandex
17.33.1 Overview
17.33.2 Product Offering
17.33.3 Strategy
17.33.4 Strength
18 Report Summary
18.1 Key Takeaways
18.2 Strategic Recommendation
18.3 Qualitative Summary of U.S. Smart Speaker Market
18.4 Quantitative Summary: U.S. Smart Speaker Market
18.4.1 Market by Device Type
18.4.2 Market by End-users
19 Appendix
19.1 Abbreviations
List of Exhibits
Exhibit 1 Segmentation of U.S. Smart Speaker Market
Exhibit 2 Market Size Calculation Approach 2017
Exhibit 3 Market Size Calculation 2017
Exhibit 4 Change in Real GDP in U.S. 2017−2023 (%)
Exhibit 5 Dual-income Households in U.S. (1970 vs. 2015)
Exhibit 6 Popular Voice Assistants by Market Share on Smartphones in U.S. 2017
Exhibit 7 Primary Reason for Using Voice Assistants and Voice Searches in U.S. 2017
Exhibit 8 Primary Place of Voice Use by U.S. Nationals 2017
Exhibit 9 Voice Query on Hound Application in U.S. by Major Categories
Exhibit 10 Increase in Number of Connected Homes in U.S. (million households)
Exhibit 11 Total Consumer Spending on Music in US: Share of Streaming 2015−2017 ($ billion)
Exhibit 12 Growth in Labor Costs in Various Chinese Cities in 2016
Exhibit 13 Google Trends for Voice Searches June 2008–March 2017
Exhibit 14 Increased Share of Voice Searches: Timeline
Exhibit 15 Economic Impact of IoT in Various Settings by 2025 (impact in $ trillion)
Exhibit 16 Integration of Robotics, Automation, and Intelligent Systems
Exhibit 17 Growing Web-based Offline Retail Sales (%)
Exhibit 18 Speaker Manufacturing: Market Participants
Exhibit 19 Value Chain Analysis of U.S. Smart Speaker Market
Exhibit 20 Smart Home Ecosystem
Exhibit 21 Key Vendors in Smart and Connected Markets
Exhibit 22 Vendor Mapping in Smart and Connected Markets
Exhibit 23 Smart Home Devices: Product Category
Exhibit 24 Smart Home Devices Market in U.S. 2017−2023 (million units)
Exhibit 25 Smart Home Devices Market in U.S. Lucrativeness by Product 2023 ($ billion)
Exhibit 26 U.S. Smart Speaker Market: Historical Data 2014−2016
Exhibit 27 U.S. Smart Speaker Market 2017−2023 (million units)
Exhibit 28 Annual Saving Ratio of US
Exhibit 29 Change in U.S. GDP Growth Rate (Q1 2006−Q2 2016)
Exhibit 30 U.S. Smart Speaker Market 2017−2023 ($ billion)
Exhibit 31 End-user of Voice Search by Age Category in U.S. October 2016–March 2018
Exhibit 32 Voice Commerce Market Value in U.S. 2017 and 2023 ($ billion)
Exhibit 33 Revenue CAGR Comparison: Smart Speaker versus Bluetooth Speaker versus Wireless Speaker Market 2017−2023
Exhibit 34 ASP of Speakers in U.S. 2014−2023 ($)
Exhibit 35 Top Use Case of Speakers in U.S. 2017
Exhibit 36 Top Place to Keep Speaker in U.S. Households 2017
Exhibit 37 U.S. Retail Sales of Consumer Technology Products 2013−2018 ($ billion)
Exhibit 38 Smartphone Penetration in North America, Western Europe, and APAC 2010−2022
Exhibit 39 Connected Home Market in U.S. 2015−2023 ($ billion)
Exhibit 40 Rising Consumer Revolving Credit in U.S. (% change)
Exhibit 41 Aging Population in U.S. 2010–2050 (percentage of overall population)
Exhibit 42 Five Forces Analysis 2017
Exhibit 43 U.S. Smart Speaker Market by Device Type: Overview
Exhibit 44 U.S. Market Share by Device Type 2017 and 2023
Exhibit 45 U.S. Smart Speaker Market: First-party Devices vis-à-vis Third-party Devices CAGR Comparison 2017−2023
Exhibit 46 First-party U.S. Smart Speaker Market 2017−2023 (million units)
Exhibit 47 First-party U.S. Market 2017−2023 ($ billion)
Exhibit 48 Third-party U.S. Smart Speaker Market 2017−2023 (million units)
Exhibit 49 Third-party U.S. Market 2017−2023 ($ billion)
Exhibit 50 U.S. Smart Speaker Market by End-users: Overview
Exhibit 51 U.S. Market by End-users 2017
Exhibit 52 Distribution Channel of Speakers
Exhibit 53 Distribution Channel Flow of Speakers
Exhibit 54 U.S. Smart Speaker Market by Distribution Channels 2017
Exhibit 55 U.S. Market by Vendor Share by Installed Base 2017
Exhibit 56 U.S. Smart Speaker Market by Vendor Share 2017
Exhibit 57 U.S. Market Vendor Share: Changing Competitive Landscape
Exhibit 58 Alphabet: Revenue by Business Segments FY2017
Exhibit 59 Alphabet: Revenue by Geographical Segments FY2017
Exhibit 60 Amazon.com: Revenue by Business Segments FY2017
List of Tables
Table 1 Key Caveats
Table 2 Currency Conversion 2013−2017
Table 3 Various Virtual Assistants Present in Market
Table 4 YOY Impact of Market Growth Enablers 2017−2023
Table 5 Average Minimum Wages in Various APAC Countries
Table 6 YOY Impact of Market Growth Restraints 2017−2023
Table 7 Average IoT Expenditure by Various Industries (percentage of overall revenue) 2017
Table 8 YOY Impact of Market Opportunities & Trends 2017−2023
Table 9 Opportunities and Impact for Solution Providers in Connected Living Market
Table 10 Number of Smart Device Ownership in U.S. 2017
Table 11 Product Bundling by Bose
Table 12 Residential U.S. Smart Speaker Market 2017−2023 (million units)
Table 13 Commercial U.S. Smart Speaker Market 2017−2023 ($ billion)
Table 14 Alphabet (Google): Major Product Offerings
Table 15 Amazon.com: Major Product Offerings
Table 16 HARMAN International: Major Product Offerings
Table 17 Sonos: Major Product Offerings
Table 18 Qualitative Summary of U.S. Smart Speaker Market
Table 19 Quantitative Summary of Market by Device Type 2017—2023 (million units)
Table 20 Quantitative Summary of Market by Device Type (unit shipment) 2017−2023 (%)
Table 21 Quantitative Summary of Market by Device Type 2017—2023 ($ billion)
Table 22 Quantitative Summary of Market by Device Type (revenue) 2017−2023 (%)
Table 23 Quantitative Summary of U.S. Smart Speaker Market by End-users 2017—2023 (million units)
Table 24 Quantitative Summary of Market by End-user (unit shipment) 2017−2023 (%)
Table 25 Quantitative Summary of U.S. Smart Speaker Market by End-users 2017—2023 ($ billion)
Table 26 Quantitative Summary of Market by End-user (revenue) 2017−2023 (%)
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