Smart Home Speaker Market in US Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

The smart home speaker market share in US is expected to increase to USD 3.93 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 18.45%.

This smart home speaker market in US research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers U.S. smart home speaker market segmentation by platform (Amazon Alexa, Google Assistant, and others) and distribution channel (online and offline). The smart home speaker market in US report also offers information on several market vendors, including Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Apple Inc., Baidu Inc., Bose Corp., Bowers and Wilkins, FABRIQ, Invoxia, JD.com Inc., Lenovo Group Ltd., LG Electronics Inc., Plantronics Inc., Samsung Electronics Co. Ltd., Sonos Inc., Sony Group Corp., and Xiaomi Inc. among others.

What will the Smart Home Speaker Market Size in US be During the Forecast Period?

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Smart Home Speaker Market in US: Key Drivers, Trends, and Challenges

The rapidly increasing unit sales of smart home speakers is notably driving the smart home speaker market growth in US, although factors such as the privacy and security threats associated with smart home speakers may the impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the smart home speaker industry in US. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key US Smart Home Speaker Market Driver

• One of the key factors driving the smart home speaker market growth in US is the rapidly increasing unit sales of smart home speakers.
• Alexa-enabled Echo products, including the Echo Dot by Amazon, led the overall smart home speaker market in Q3 2021 and had a 26.4% share of global shipments with 10.4 million units sold.
• Baidu reported double-digit shipment growth of 15% in Q3 2021 as the company shipped 5.4 million units of smart home speakers, an increase from 4.7 million units in Q3 2020.
• According to the survey, as of January 2022, 94.9 million US adults owned at least one smart home speaker, and 50% of these owners used the device on a regular basis.
• As consumers in the US continued to work from home from 2020 to 2021, the pandemic-induced change in the purchasing behavior of consumers led to an increase in ownership of smart home speakers.
• The increase in the unit sales of smart home speakers is expected to augment the growth of the smart home speaker market in the US during the forecast period.

Key US Smart Home Speaker Market Trend

• Growing prominence of smart displays is one of the key smart home speaker market trends in US that is expected to impact the industry positively in the forecast period.
• Smart displays such as Google Nest Hub have a touchscreen and they respond to the same voice commands as smart speakers and can display extra information such as search results or personal calendars.
• The sales of smart home speakers have increased owing to smart displays such as Google Nest Hub and Nest Hub Max, Amazon Echo Show, and Baidu Xiaodu Zaijia, which offer a combination of audio and visual technology.
• Google established itself as a dominant player in the smart home speaker market in US in 2021, as Google Nest Hub witnessed tremendous consumer demand.
• The company shipped 1.5 million units of smart displays in Q3 2021.
• Smart displays make up more than 10% of the total smart speaker shipment demand, and they are expected to be a significant driver for the growth of the smart home speaker market in US during the forecast period. 

Key US Smart Home Speaker Market Challenge

• One of the key challenges to the smart home speaker market growth in US is the privacy and security threats associated with smart home speakers.
• In July 2019, Google confirmed that its employees had been systematically listening to audio files that were recorded by Google Home smart speakers and the app.
• Smart home devices can be a source of cybersecurity attacks such as DDoS attacks, MiTM attacks, and data breaches through hacking smart home speakers, APTs, and ransomware attacks.
• A hacker could hack into an Internet-connected smart home speaker with default or weak passwords. Compromised smart home speakers could then be used to disrupt networks of end-users.
• In March 2022, researchers from Royal Holloway, University of London (RHUL), and the University of Catania in Italy discovered new ways in which Amazon Echo smart speakers could be hacked and used to perform commands.
• The privacy and security threats associated with smart home speakers might hinder the market growth during the forecast period.

This smart home speaker market in US analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the smart home speaker market in US as a part of the global consumer electronics market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the smart home speaker market in US during the forecast period.

Who are the Major Smart Home Speaker Market Vendors in US?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Alibaba Group Holding Ltd.
• Alphabet Inc.
• Amazon.com Inc.
• Apple Inc.
• Baidu Inc.
• Bose Corp.
• Bowers and Wilkins
• FABRIQ
• Invoxia
• JD.com Inc.
• Lenovo Group Ltd.
• LG Electronics Inc.
• Plantronics Inc.
• Samsung Electronics Co. Ltd.
• Sonos Inc.
• Sony Group Corp.
• Xiaomi Inc.

 

This statistical study of the smart home speaker market in US encompasses successful business strategies deployed by the key vendors. The smart home speaker market in US is fragmented and the vendors are deploying growth strategies such as new product launches to compete in the market.

Product Insights and News

• Alibaba Group Holding Ltd. - Through the core commerce segment, the company offers a complete suite of cloud services to customers worldwide, which includes elastic computing, database, storage, network virtualization services, large-scale computing, security, management and application services, big data analytics, a machine learning platform, and IoT services.
• Alphabet Inc. - The company offers smart home speakers such as Nest Mini and Nest Audio.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The smart home speaker market in US forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Smart Home Speaker Market in US Value Chain Analysis

Our report provides extensive information on the value chain analysis for the smart home speaker market in US, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

What are the Revenue-generating Platform Segments in the Smart Home Speaker Market in US?

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The smart home speaker market share growth in US by the amazon Alexa segment will be significant during the forecast period. Amazon Alexa is a digital voice assistant that supports smart home speakers offered by Amazon, including Echo, Echo Dot, Echo Plus, Echo Spot, Echo Show, Echo Look, and smart home speakers offered by third-party manufacturers. The introduction of new Alexa features can propel the demand for Amazon Echo speakers and increase its share in the smart home speaker market in the US in the forecast years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the smart home speaker market size in US and actionable market insights on post COVID-19 impact on each segment.

 

Smart Home Speaker Market Scope in US
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 18.45%
Market growth 2022-2026	$ 3.93 billion
Market structure	Fragmented
YoY growth (%)	16.56
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Apple Inc., Baidu Inc., Bose Corp., Bowers and Wilkins, FABRIQ, Invoxia, JD.com Inc., Lenovo Group Ltd., LG Electronics Inc., Plantronics Inc., Samsung Electronics Co. Ltd., Sonos Inc., Sony Group Corp., and Xiaomi Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Smart Home Speaker Market in US Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive smart home speaker market growth in US during the next five years
• Precise estimation of the smart home speaker market size in US and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the smart home speaker industry across US
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of smart home speaker market vendors in US 

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