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Intelligent Speakers Market

Global Market Study on Intelligent Speakers: Moving Beyond Traditional Audio Output with Voice Assistant

Intelligent Speakers Market Segmented By Smart Speakers with Alexa, Google Assistant, Siri Devices

Intelligent Speakers Market Outlook (2023 to 2033)

Global demand for the intelligent speaker’s market is estimated at US$ 7,800.5 Million as of 2022 and is anticipated to have sales of US$ 41,394.4 Million by the end of 2033. The intelligent speakers market is estimated to be US$ 8,962.8 Million by 2023, and is predicted to progress at a CAGR of 16.5% during the forecast period 2023 to 33.

Intelligent speakers are voice-controlled devices that use artificial intelligence and natural language processing to provide users with access to information, entertainment and various other services through voice commands. Some of the most popular examples of intelligent speakers are Amazon Echo (with Alexa), Google Home (with Google Assistant), and Apple HomePod (with Siri).

Intelligent speakers work by using a combination of hardware components such as microphones, speakers, and processors, and software technologies such as natural language processing (NLP), speech recognition and artificial intelligence (AI).

Here's a general idea of how it work- the user gives a voice command to the speaker, which is picked up by the microphone. The audio is then transmitted to the cloud, where NLP and speech recognition algorithms process the speech and convert it into text. The AI algorithms then analyze the text to determine the user's intent and generate a response. The response is sent back to the speaker, where it is processed and transformed into audio output. The speaker then plays the audio output, allowing the user to hear the response to their voice command.

The intelligent speakers Market held a 4.2% market share of the speakers market.

North America held a high market share of 21.4% in 2022 and is expected to maintain its position throughout the forecast period, while the market in Europe held an 18.2% value share in the global market in 2022.

Intelligent Speakers Market Size (2022)

US$ 7,800.5 Million

Intelligent Speakers Market Size (2023)

US$ 8,962.8 Million

Projected Market Value (2033)

US$ 41,394.4 Million

Global Market Growth Rate (2023 to 2033)

16.5%

Alexa Device Market Share (2022)

29.4%

US Market Share (2022)

24.5%

Residential Intelligent Speakers Market Share (2022)

52.4%

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What are the Drivers for the Intelligent Speakers Market?

“Rising demand for voice-controlled technology and Growing popularity of smart homes”

The increasing popularity of voice-activated devices and the convenience they offer have driven the demand for intelligent speakers. The trend toward smart homes, where various household devices can be controlled through a central hub, has also boosted the demand for intelligent speakers. Improvements in AI and NLP technologies have enabled intelligent speakers to provide more accurate and sophisticated responses to user commands. The growth of IoT has created opportunities for intelligent speakers to integrate with a wide range of smart devices and appliances.

  • In January 2023, Sonos will add Alexa voice control to its speakers in 27 more countries. It has collaborated with Amazon to provide international Sonos users with Alexa voice control for audio, schedules, shopping lists, and smart home commands.
  • In January 2032, to increase its presence in the smart home market, Apple is reportedly working on a low-cost iPad-like tablet and an updated Apple TV. The step is seen as a threat to Google and Amazon's dominance. These different innovations are expected to be released within the next year or so.
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Which Factors Are Driving the Opportunity in the US for the Intelligent Speakers Market?

“High penetration of smart devices and Strong presence of tech companies”

The US is a highly technologically advanced country with a high penetration of smart devices, which is driving the demand for intelligent speakers. The trend towards smart homes is growing in the US, with more and more consumers looking to integrate technology into their daily lives, including the use of intelligent speakers.

The US is home to many of the world's largest tech companies including amazon, google and apple, which are driving the development and marketing of intelligent speakers. These factors are providing a strong opportunity for the growth of the intelligent speaker market in the US, and are expected to continue to do so in the coming years.

These are the reasons why in 2022, the U.S. intelligent speakers market companies helped the country to account for a dominant share of 24.5% in the global marketplace.

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Which Countries in South Asia Have the High Global CAGR for the Intelligent Speakers Market?

“India Has High Global CAGR for Intelligent Speakers Market”

The increase in internet and smartphone usage in India is driving the adoption of intelligent speakers, which are becoming increasingly accessible to consumers. The trend towards smart homes is growing in India, with consumers looking for ways to make their homes more efficient and convenient, including the use of intelligent speakers. The use of voice-activated technology, such as voice assistants, is growing rapidly in India, driving the demand for intelligent speakers.

These factors are contributing to the high CAGR of 18.4 % of the intelligent speaker market in India, and are expected to continue to drive growth in the coming years.

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Which Germany Have the High Global Markets for Intelligent Speakers Market in Europe?

“Growing Demand for Smart Home Technology and Strong Brand Presence”

The demand for smart home technology, including intelligent speakers is growing in Germany as consumers seek to automate their homes and make their daily lives more convenient. The expansion of the IoT ecosystem in Germany is driving the growth of the intelligent speaker market as these devices are becoming more integrated with other connected devices and systems.

Voice-controlled devices, such as intelligent speakers, are becoming increasingly popular in Germany as consumers seek more convenient and intuitive ways to interact with technology. German companies have a strong brand presence in the intelligent speaker market, which has helped to increase consumer trust and adoption of these products.

Due to this reason, the intelligent speakers market for Germany in 2022 held a market share of 19.4% in the global Intelligent Speakers Market.

Category-wise Insights

Which Devices of the Intelligent Speakers Market Held the Largest Market Share?

“Alexa Intelligent Speakers Allows Having the Larger Market Share”

Alexa speakers can be controlled using voice commands, which makes it convenient for users to play music, set reminders, control smart home devices, and perform other tasks hands-free. Alexa speakers are integrated with many other devices and services, making it easy for users to control multiple devices with voice commands.

Alexa speakers are relatively affordable, which has made them accessible to a large number of people. Alexa speakers have a simple and user-friendly interface, making it easy for people to use the device even if they are not tech-savvy.

These are some of the reasons why Alexa Intelligent Speakers have become so popular in the market. In 2022, the Alexa intelligent speakers share was estimated to dominate the global market and account for 29.4% of the total market value share.

Which Application of the Intelligent Speakers Market holds a Larger Share of the Market?

“Residential Intelligent Speakers Segment Holds a Larger Share Market”

In 2022, it was estimated that the residential intelligent speaker’s application market share was 52.4%.

Intelligent speakers are mostly used in residential settings because they offer a convenient and easy way to control smart devices and access various entertainment options such as music and podcasts, hands-free. Intelligent speakers allow users to control their smart devices, access entertainment options, and perform tasks hands-free, making them a convenient and efficient solution for everyday tasks.

The integration of intelligent speakers with smart home devices like lights, thermostats, and security systems allows users to control their home environment with voice commands. Virtual assistants like Amazon Alexa and Google Assistant provide users with a quick and easy way to perform various tasks, such as setting reminders, answering questions, and making purchases.

Competitive Landscape

These companies have established a strong presence in the market and continue to compete for market share, with each offering its own unique set of features and capabilities to attract consumers.

  • In December 2022, Home Assistant's voice will be distinct from Siri or Alexa's. There's no need to use Google, Siri, or Alexa to communicate with your intelligent home platform any longer. All voice commands in 'Home Assistant,' an open-source platform for smart home interaction, would be centralized soon.
  • In February 2023, Sonos, the company best known for its top-quality quality speakers and soundbars is preparing to release a new smart speaker generation speaker in the coming months. The speakers, codenamed Optimo, were previously leaked and are expected to compete with Apple's HomePod and other related smart speakers from companies such as Google and Amazon.

Recent developments related to key players providing the intelligent speakers market have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.

Intelligent Speakers Market Report Scope

Attribute

Details

Forecast Period

2023 to 2033

Historical Data Available for

2018 to 2022

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Singapore
  • Australia
  • New Zealand
  • Turkey
  • South Africa
  • GCC Countries

Key Market Segments Covered

  • Devices
  • Distribution Channel
  • Application
  • Region

Key Companies Profiled

  • Amazon.com
  • Apple
  • Sonos
  • Riva Concert
  • JBL
  • Alphabet (Google)
  • Bluesound
  • Bose
  • Sony Corporation
  • Panasonic Corporation
  • Samsung Electronics Co.
  • Polk Audio

Pricing

Available upon Request

Key Segments of Intelligent Speakers Market Research

By Devices:

  • Alexa-enabled Speakers
  • Google Assistant-enabled Speakers
  • Siri-enabled Speakers
  • Others

By Distribution Channel:

  • Organized Retail
  • Unorganized Retail
  • Online/E-commerce

By Application:

  • Residential
  • Commercial

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

- Companies Covered in This Report -

  • Amazon
  • Apple
  • Sonos
  • Riva Concert
  • JBL
  • Alphabet (Google)
  • Bluesound
  • Bose
  • Sony Corporation
  • Panasonic Corporation
  • Samsung Electronics Co.
  • Polk Audio.

- Frequently Asked Questions -

In 2022, demand for the intelligent speaker’s market amounted to US$ 7,800.5 Mn.

The global intelligent speakers market is estimated to grow at a CAGR of 16.5% over the forecast period.

The market for intelligent speaker’s market is forecasted to have a market value of US$ 41,394.4 Mn by 2033.

Demand for the intelligent speaker’s market in India is projected to rise at 18.4% CAGR over the forecast period.

In 2022, the North America intelligent speakers market held a dominant market share of 21.4%.

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