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

  • Published: Jun 2022
  • Pages: 125
  • SKU: IRTNTR73806
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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?

Smart Home Speaker Market Size

Download the Free Report Sample to Unlock the Smart Home Speaker Market Size in US for the Forecast Period and Other Important Statistics

 

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?

Smart Home Speaker Market Market segmentation by region

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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

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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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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market Segmentation by Platform
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 07: Parent market
    • Exhibit 08: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 09: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 10: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 11: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 12: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 13: Chart on US: Year-over-year growth 2021-2026 (%)
      • Exhibit 14: Data Table on US: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 15: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 16: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 17: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 18: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 19: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 20: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 21: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Platform

    • 5.1 Market segments
      • Exhibit 22: Chart on Platform - Market share 2021-2026 (%)
      • Exhibit 23: Data Table on Platform - Market share 2021-2026 (%)
    • 5.2 Comparison by Platform
      • Exhibit 24: Chart on Comparison by Platform
      • Exhibit 25: Data Table on Comparison by Platform
    • 5.3 Amazon Alexa - Market size and forecast 2021-2026
      • Exhibit 26: Chart on Amazon Alexa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 27: Data Table on Amazon Alexa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 28: Chart on Amazon Alexa - Year-over-year growth 2021-2026 (%)
      • Exhibit 29: Data Table on Amazon Alexa - Year-over-year growth 2021-2026 (%)
    • 5.4 Google Assistant - Market size and forecast 2021-2026
      • Exhibit 30: Chart on Google Assistant - Market size and forecast 2021-2026 ($ million)
      • Exhibit 31: Data Table on Google Assistant - Market size and forecast 2021-2026 ($ million)
      • Exhibit 32: Chart on Google Assistant - Year-over-year growth 2021-2026 (%)
      • Exhibit 33: Data Table on Google Assistant - Year-over-year growth 2021-2026 (%)
    • 5.5 Others - Market size and forecast 2021-2026
      • Exhibit 34: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 35: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 36: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 37: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by Platform
      • Exhibit 38: Market opportunity by Platform ($ million)

    6 Market Segmentation by Distribution Channel

    • 6.1 Market segments
      • Exhibit 39: Chart on Distribution Channel - Market share 2021-2026 (%)
      • Exhibit 40: Data Table on Distribution Channel - Market share 2021-2026 (%)
    • 6.2 Comparison by Distribution Channel
      • Exhibit 41: Chart on Comparison by Distribution Channel
      • Exhibit 42: Data Table on Comparison by Distribution Channel
    • 6.3 Online - Market size and forecast 2021-2026
      • Exhibit 43: Chart on Online - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Data Table on Online - Market size and forecast 2021-2026 ($ million)
      • Exhibit 45: Chart on Online - Year-over-year growth 2021-2026 (%)
      • Exhibit 46: Data Table on Online - Year-over-year growth 2021-2026 (%)
    • 6.4 Offline - Market size and forecast 2021-2026
      • Exhibit 47: Chart on Offline - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Data Table on Offline - Market size and forecast 2021-2026 ($ million)
      • Exhibit 49: Chart on Offline - Year-over-year growth 2021-2026 (%)
      • Exhibit 50: Data Table on Offline - Year-over-year growth 2021-2026 (%)
    • 6.5 Market opportunity by Distribution Channel
      • Exhibit 51: Market opportunity by Distribution Channel ($ million)

    7 Customer Landscape

    • 7.1 Customer landscape overview
      • Exhibit 52: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 53: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 54: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 55: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 56: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 57: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 58: Matrix on vendor position and classification
            • 10.3 Alphabet Inc.
              • Exhibit 59: Alphabet Inc. - Overview
              • Exhibit 60: Alphabet Inc. - Business segments
              • Exhibit 61: Alphabet Inc. - Key news
              • Exhibit 62: Alphabet Inc. - Key offerings
              • Exhibit 63: Alphabet Inc. - Segment focus
            • 10.4 Amazon.com Inc.
              • Exhibit 64: Amazon.com Inc. - Overview
              • Exhibit 65: Amazon.com Inc. - Business segments
              • Exhibit 66: Amazon.com Inc. - Key news
              • Exhibit 67: Amazon.com Inc. - Key offerings
              • Exhibit 68: Amazon.com Inc. - Segment focus
            • 10.5 Apple Inc.
              • Exhibit 69: Apple Inc. - Overview
              • Exhibit 70: Apple Inc. - Business segments
              • Exhibit 71: Apple Inc. - Key news
              • Exhibit 72: Apple Inc. - Key offerings
              • Exhibit 73: Apple Inc. - Segment focus
            • 10.6 Bowers and Wilkins
              • Exhibit 74: Bowers and Wilkins - Overview
              • Exhibit 75: Bowers and Wilkins - Product / Service
              • Exhibit 76: Bowers and Wilkins - Key offerings
            • 10.7 JD.com Inc.
              • Exhibit 77: JD.com Inc. - Overview
              • Exhibit 78: JD.com Inc. - Business segments
              • Exhibit 79: JD.com Inc. - Key news
              • Exhibit 80: JD.com Inc. - Key offerings
              • Exhibit 81: JD.com Inc. - Segment focus
            • 10.8 Lenovo Group Ltd.
              • Exhibit 82: Lenovo Group Ltd. - Overview
              • Exhibit 83: Lenovo Group Ltd. - Business segments
              • Exhibit 84: Lenovo Group Ltd. - Key offerings
              • Exhibit 85: Lenovo Group Ltd. - Segment focus
            • 10.9 LG Electronics Inc.
              • Exhibit 86: LG Electronics Inc. - Overview
              • Exhibit 87: LG Electronics Inc. - Business segments
              • Exhibit 88: LG Electronics Inc. - Key news
              • Exhibit 89: LG Electronics Inc. - Key offerings
              • Exhibit 90: LG Electronics Inc. - Segment focus
            • 10.10 Samsung Electronics Co. Ltd.
              • Exhibit 91: Samsung Electronics Co. Ltd. - Overview
              • Exhibit 92: Samsung Electronics Co. Ltd. - Business segments
              • Exhibit 93: Samsung Electronics Co. Ltd. - Key news
              • Exhibit 94: Samsung Electronics Co. Ltd. - Key offerings
              • Exhibit 95: Samsung Electronics Co. Ltd. - Segment focus
            • 10.11 Sonos Inc.
              • Exhibit 96: Sonos Inc. - Overview
              • Exhibit 97: Sonos Inc. - Product / Service
              • Exhibit 98: Sonos Inc. - Key offerings
            • 10.12 Xiaomi Inc.
              • Exhibit 99: Xiaomi Inc. - Overview
              • Exhibit 100: Xiaomi Inc. - Business segments
              • Exhibit 101: Xiaomi Inc. - Key news
              • Exhibit 102: Xiaomi Inc. - Key offerings
              • Exhibit 103: Xiaomi Inc. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 104: Inclusions checklist
                • Exhibit 105: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 106: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 107: Research methodology
                • Exhibit 108: Validation techniques employed for market sizing
                • Exhibit 109: Information sources
              • 11.5 List of abbreviations
                • Exhibit 110: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Smart Home Speaker Market in US market growth will increase by $3.93 bn during 2022-2026.
              The smart home speaker market in us market is expected to grow at a CAGR of 18.45% during 2022-2026.
              Technavio has segmented the smart home speaker market in us market by distribution channel (Online, Offline, Others, Online, and Offline) and geography (US).
              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. are a few of the key vendors in the smart home speaker market in us market.
              North America will register the highest growth rate of 100% among the other regions. Therefore, the smart home speaker market in us market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the smart home speaker market in us market growth are:
              • Rapidly increasing unit sales of smart home speakers
              • Growing prominence of smart displays
              The smart home speaker market in us market vendors should focus on grabbing business opportunities from the online segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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              • Five-force market analysis

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