Google revenue

Smart speaker market to regenerate revenue of 35.93 billion

Westford, USA, Aug. 29, 2022 (GLOBE NEWSWIRE) — Smart speakers are becoming increasingly popular around the world as consumers adopt them in place of traditional speakers. Smart speaker market is growing in popularity due to its ability to facilitate Voice-Over-Internet Protocol (VoIP) calls and streaming services such as Amazon Prime Video and Netflix. Additionally, smart speakers can be used to control various functions in the home, such as lights and locks.

Despite their growing popularity, there are still some limitations associated with smart speakers. For example, they are not suitable for listening to music or playing games due to their limited sound quality. Also, many of these devices do not support touch controls, which can be annoying for some users.

Looking ahead, SkyQuest expects strong demand in the global smart speaker market due to recent technological developments such as AR/VR and autonomous driving. These platforms enable better interaction between humans and devices through interactive experiences that can be personalized for each individual. As a result, we can expect to see even more innovations from manufacturers in the coming years that will allow users to interact with their smart speakers in even more interesting ways.

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Global smart speaker shipment will reach 417 million by 2028

According to SkyQuest analysis of the global smart speaker market, demand for smart speakers exceeded 186 million units in 2021. According to our research analyst, demand for smart speakers is expected to grow at a CAGR of more than 12.23% in the years to come. . Where Amazon, Google, Baidu, Alibaba, Xiaomi and Apple have a large market share. Our research suggests that Amazon and Google are likely to continue to retain their prominence throughout the 2022-2028 assessment period thanks to their early entry, wide adoption, growing support across many IoTs, integration on several electronic devices such as mobile phone, camera, modem, router, other household appliances, among others. In 2021, Amazon and Google together sold over 73 million smart speakers. Currently, Amazon’s Alexa and Eco dominate the global smart speaker market with over 40% market share, followed by Google and Baidu.

Among these, the United States accounted for the highest demand in the global smart speaker market, followed by China and India. Other countries that have shown significant growth in demand include Indonesia, Thailand, Brazil, Mexico and South Korea. In Asia, meanwhile, there’s still a long way to go before smart speakers become entrenched in everyday life. This is partly explained by the Region’s strong preference for traditional audio/video content providers such as television and radio. Nonetheless, despite these challenges, there is significant potential for smart speaker adoption in Asia as more consumers shift to using voice-enabled devices instead of traditional gadgets.

For more insights on the Smart Speakers Market in terms of demand, consumption by countries, shipping by players, market dynamics, growth opportunities, trends, and revenue pockets,

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The smart speaker market will continue to witness neck and neck competition

The smart speaker industry is still witnessing neck and neck competition, with no real clear winner in sight. Major players continue to release new models and prices continue to drop. Even though the market share of Android and Apple speakers has declined somewhat, the overall market is growing rapidly.

Until September 2016, Amazon was the only active player in the global smart speaker market and the company sold over 900,000 devices in the same year. However, Google entered Q4 of 2016 and disrupted Amazon’s monopoly by becoming the second largest market player. However, Google failed to overcome Amazon’s competitive challenge and ended up selling nearly 400,000 units of its smart speakers and Amazon sold over 4.1 million units in the same quarter. . But the scenario began to change over the period. Only 2 players in 2016 to over 43 major and local players till July 2022. However, the market is currently dominated by only 6 players such as Amazon, Google, Baidu, Alibaba, Xiaomi and Apple. Other players in the global smart speaker market hold less than 10% market share. In 2021, Amazon sold over 40 million units of Alexa and Eco, and Google sold over 35 million units, followed by Baidu (~22 million units), Alibaba (~19 million units), Xiaomi (9.8 million units) and Apple (~15.78 million).

The demand for the smart speaker market is still high and there are no signs that this trend will change soon. The major players continue to invest in new technologies and bring their products closer to consumer needs. With regard to the turnover of the big brands, competition between the different brands should remain very tense in the years to come.

SkyQuest has researched the global smart speaker market at a deeper level and released a report. The report would help you understand the current market competition, each player’s sales volume by country, their market share, global Smart Speakers shipping across the world, competition from new entrants and their landscape market, and analysis of the competitive landscape. In addition to this, the report would help players better understand consumer behavior and purchasing decisions.

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Leading Players in the Global Smart Speaker Market

  • Amazon, Inc. (USA)
  • Apple Inc. (USA)
  • Alphabet Inc (USA)
  • Baidu, Inc (China)
  • Alibaba Group (China)
  • Lenovo Group Ltd. (China)
  • Xiaomi Inc. (China)
  • Deutsche Telecom (Germany)
  • Avnera Corporation (USA)
  • Google (US)
  • KaKao (South Korea)
  • Jam Audio (USA)

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About Us:

SkyQuest Technology is a leading growth consulting firm providing market intelligence, marketing and technology services. It has more than 450 satisfied customers worldwide.


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