The smart speaker market will grow by 35% this year, according to SAR Insight & Consulting’s Latest Digital Assistant Platform Forecast DATAbase, with shipments reaching 92 million.
“Consumer adoption of voice-enabled smart speakers has continued to be one of the key success stories impacting the global consumer electronics industry and creating ongoing opportunity for device, technology and IC component vendors,” Dennis Goldenson, Research Director of SAR Insight & Consulting, said.
“With enhanced AI and machine learning accuracy driving increased use case applications, the smart speaker market is changing how we interact and receive information from answering questions, updating news items, playing streaming music, and controlling other smart home devices. Voice-activated smart speakers are introducing many households to the benefits of artificial intelligence, turning smart home automation into reality.”
The latest output from SAR Insight & Consulting (Digital Assistant Platform Forecast DATAbase) highlights a number of key trends, which include:
· the installed base of smart speakers will reach over 200 million in 2019
· speakers with built-in smart features, such as Amazon Echo, Google Home, Sonos One, Apple HomePod, and Xiaomi Mi AI continue to disrupt and dominate the smart home market
· Amazon remains the market leader, but its smart speaker market share has declined and now represents approximately a third (33%) of the total volume anticipated in 2019
· while Amazon Alexa and Google Assistant continue to dominate, controlling over half of the market share today, Chinese vendors such as Alibaba, Baidu and Xiaomi are increasing their share of the volume, increasing the competitive landscape
“The amazing rise and use of smart speakers with voice assistants is a testament to consumer confidence in the product offering, which has led to the growth of other voice-enabled connected devices in the home, on mobile devices and in the car,” Dennis said. “It becomes even more interesting as we combine data from our UI Technologies DATAbase forecasts and begin to see the multi-sensory capabilities such as the merging for touch and voice UI.”
The proliferation of smart speakers continues to expand in their volume and in their applications signaling continued growth throughout the forecast period. However, SAR Insight & Consulting said this is only the beginning.; advancements in AI and voice software algorithms are driving smart speaker market adoption and creating vast opportunities for many emerging technology providers.
These are findings from SAR Insight & Consulting’s recently published ‘Digital Assistant Platform Forecast DATAbase’ which is published as part of its Digital Assistant Platform Service.