The global smart speaker market was valued at 11.9 billion U.S. dollars in 2019, increasing the tally from the previous year. By 2025, projections suggest that this annual figure could grow to over 35.5 billion U.S. dollars.
The couch-side companion
Smart speakers not only serve as speakers for music and entertainment but also allow users to issue voice commands and control other smart devices. This is performed through the support of a virtual assistant, such as Apple's Siri or Amazon's Alexa. Amazon is the market leader and ships the largest share of smart speakers. In contrast, it was Google's Assistant that consistently scored the highest when tested through different types of questions.
Do you want a visual or audio control panel?
In addition to voice assistants, smart speakers sometimes have a smart display embedded in the device. This can provide the benefit of controlling other smart home connected devices or providing visual information to accompany the verbal command or query. Currently, consumers largely purchase smart speakers without an embedded display, perhaps indicating a tendency of using smart speakers for non-visual activities such as listening to music, asking questions, and checking the weather. However, it appears more people are incorporating using displays into their smart speaker experiences, as smart displays are expected to become more and more widespread in the coming years.
Smart speaker market revenue worldwide from 2014 to 2025*
(in billion U.S. dollars)
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Loup Ventures. (June 13, 2019). Smart speaker market revenue worldwide from 2014 to 2025* (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 05, 2024, from https://www.statista.com/statistics/1022823/worldwide-smart-speaker-market-revenue/
Loup Ventures. "Smart speaker market revenue worldwide from 2014 to 2025* (in billion U.S. dollars)." Chart. June 13, 2019. Statista. Accessed December 05, 2024. https://www.statista.com/statistics/1022823/worldwide-smart-speaker-market-revenue/
Loup Ventures. (2019). Smart speaker market revenue worldwide from 2014 to 2025* (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 05, 2024. https://www.statista.com/statistics/1022823/worldwide-smart-speaker-market-revenue/
Loup Ventures. "Smart Speaker Market Revenue Worldwide from 2014 to 2025* (in Billion U.S. Dollars)." Statista, Statista Inc., 13 Jun 2019, https://www.statista.com/statistics/1022823/worldwide-smart-speaker-market-revenue/
Loup Ventures, Smart speaker market revenue worldwide from 2014 to 2025* (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1022823/worldwide-smart-speaker-market-revenue/ (last visited December 05, 2024)
Smart speaker market revenue worldwide from 2014 to 2025* (in billion U.S. dollars) [Graph], Loup Ventures, June 13, 2019. [Online]. Available: https://www.statista.com/statistics/1022823/worldwide-smart-speaker-market-revenue/