Smart Speaker Statistics 2024 By Revenue and Users

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Introduction

Smart Speaker Statistics: Smart speakers have ended up increasingly popular in recent years, with their marketplace proportion predicted to grow appreciably in 2023. According to a record published by Statista, the global market is projected to attain over 200 million units by 2023, with this variety set to increase even in addition within the coming years.

Looking ahead to Smart Speaker Statistics, it is miles clear that smart audio systems will hold a crucial position in the world of technology and domestic automation. With new features and competencies being added all of the time, these gadgets are becoming increasingly more flexible and beneficial for a wide range of programs. Which smart speaker brand are you currently using? If not then no worries, this article includes a detailed analysis of different segments of smart speakers.

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The international smart speaker marketplace is anticipated to reach over 200 million gadgets by way of 2023.
According to Market.us, The Global Smart Speaker Market size is expected to be worth around USD 100 Billion by 2032 from USD 10.8 Billion in 2022, growing at a CAGR of 25.60%
In 2023, the worldwide cost of Tech speaker market share is expected to be $11.86 billion and by the end of 2032, it is expected to be $39.70 billion.
Amazon remains the highest shareholder brand of smart speakers in the United States, with a market share of over 60%.
As of September 2023, the most-owned smart speaker brand is Amazon Echo.
In the United Kingdom, almost 73% of people own an Amazon Echo at their homes.
The demand for smart speakers is growing around the world with a CAGR of 32.5% from 202 to 2033.
Smart audio systems have become increasingly flexible and useful, with new capabilities and talents being delivered all of the time.

Facts of Smart Speakers

Amazon stays the clear market chief inside the tech-speaker phase within the United States, with a market percentage of over 60%.
Google and Apple are intently behind, with marketplace stocks of around 30% and 10%, respectively.
In terms of people’s demographics, such speakers are maximum popular amongst millennials and Gen-Xers.
Country and vicinity-sensible, the US remains the largest market for advanced smart audio systems, observed through China and Europe

However, such speakers with displays, such as the Amazon Echo Show and Google Nest Hub, are also gaining popularity. Overall, the destiny seems vibrant for the tech speaker marketplace, as increasingly more consumers include this generation and integrate it into their day-by-day lives.

Global Market Share

The Smart Speaker Market is expected to be worth approximately $100 billion by 2032.
This market is projected to grow at a Compound Annual Growth Rate (CAGR) of 25.60% during the forecast period.
In 2022, the market was valued at $10.8 billion, indicating significant growth potential.
Smart speakers serve as central control hubs for various smart home functions, including entertainment and online browsing.
The prevalence of smart speakers in households worldwide has been steadily increasing with the rise in smart home technology.
Demand for smart speakers is expected to rise due to their growing use in residential applications.
Factors driving market opportunities include the proliferation of smart home products, AI development, and display-based technologies.
Major market players are expanding their business internationally to capture a larger market share.
The COVID-19 pandemic has increased the demand for smart speakers globally, driven by advancements in AI technology.
The expansion of wireless 5G infrastructure and natural language processing (NLP) is contributing to market growth.
Alexa is dominating the market among intelligent virtual assistants (IVAs).
The software segment has a competitive edge over hardware in the Smart Speaker Market.
Smart home applications are the largest market segment, driven by the popularity of smart appliances and devices.
North America currently holds a significant share in the market, with 36.4%, but Asia-Pacific is expected to surpass it by 2025.
Key market players include Amazon, Apple, Alphabet, and Xiaomi, among others.

By Regional Market Share

(Reference: statcdn.com)

In the US, Amazon remains the clear market chief inside the speaker section with a marketplace proportion of 60 percent as of August 2023, according to Statista Consumer Insights.
Google Home follows with a market proportion of 27%, while Apple HomePod (21%), Google Nest (16%), and Sony (10%) make up the last marketplace proportion.
In China, Baidu leads the marketplace with a proportion of 34.3%, accompanied with the aid of Alibaba with a marketplace proportion of 23.8%, and Xiaomi with a marketplace share of 21.1%, according to Statista.
Other gamers inside the market consist of JD.Com, Tencent, and Huawei. On the other hand, at some point in the forecast year 2023 to 2030 the marketplace of smart speakers is anticipated to develop 18.2% of CAGR.
In Europe, Amazon leads with a marketplace proportion of 23.1%, followed by Google with a market percentage of 16.7% Other players in the marketplace include Sonos, Apple, and Bose.

(Reference: statista.com)

As of June 2023 in India, Amazon Echo with a marketplace share of 66.6%, other are followed with the aid of Google Home (32%), JBL (19%), Bose (18%), Apple HomePod (16%), LG (16%), Sony (16%), Xiaomi/Mi (16%), Lenovo (11%), Eufy Genie (9%), Harman Kardon (9%), Sonos (6%), Yamaha (6%), Motorola (5%), Noise Zest (5%), Zebronics (5%), and others (2%).
According to the reports of PR Newswire, the worldwide smart speaker market is projected to continue developing, with a market length forecast to reach over USD 7 billion in 2023.

By Users Demographics

According to Smart Speaker Statistics, these platforms have emerged as increasingly more famous in recent years, with millions of households around the sector owning a minimum of one speaker.
According to a document using Statista, the age institution that makes use of smart audio speakers is between 18 to 34 years, making up 45% of the full users.
The age organization of 35 to 54 years age group accounts for 38% of the customers.
Whereas, 17% of users are elderly 55 and above.
51% of tech speaker users are male, and 49% are female.
The majority of customers are between 18 to 54 years old, indicating that smart speaker systems.

By Usage Statistics

smart-speakers-frequency-of-use.

(Source: Smit.vub.ac.be)

As of Smart Speaker Statistics 2023, the frequency of tech-oriented audio systems makes use of is most in Germany with usage daily (66.80%), month-to-month (23.50%), and never (9.70%).
Furthermore, usage of Tech speakers in the United Kingdom with each day (66.30%), monthly (26.30%), and never (9.70%).
On the other hand Americans with daily (50.10%), month-to-month (25.60%), and by no means (24.30%).
According to a file through Speakergy, in 2023, the common day utilization time of these speakers turned into 2.5 hours.
This is a growth from the previous year, wherein the average day-to-day usage time was 2.3 hours.
The record additionally stated that 70% of these speaker proprietors use their gadgets day by day.
Furthermore, the document observed that the maximum common time of day for smart audio speaker usage changed into the night, between 6 pm and 9 pm.

By Daily Usage

As of 2023, the frequency of tech-oriented audio systems makes use of is most in Germany with usage daily (66.80%), month-to-month (23.50%), and never (9.70%).
Furthermore, usage of Tech speakers in the United Kingdom with each day (66.30%), monthly (26.30%), and never (9.70%); on the other hand Americans with daily (50.10%), month-to-month (25.60%), and by no means (24.30%).
According to a file through Speakergy, in 2023, the common day utilization time of these speakers turned into 2.5 hours. This is a growth from the previous year, wherein the average day-to-day usage time was 2.3 hours. The record additionally stated that 70% of these speaker proprietors use their gadgets day by day.
Furthermore, the document observed that the maximum common time of day for smart audio speaker usage changed into the night, between 6 p.m. and 9 p.m. This suggests that these speakers are getting used to enjoyment functions, which include paying attention to tracks or podcasts, at some point of amusement time.

By Purpose of Use

The equal record by using Speakergy also discovered that the most common purpose of tech speaker use is for paying attention to track, with 68% of tech speaker proprietors using their gadgets for this motive.
Other popular uses include setting reminders and alarms (57%), asking well-known questions (52%), and controlling smart home gadgets (48%).
Interestingly, the report additionally found that 20% of such speaker proprietors use their devices for educational functions.

By Countries

(Reference: statista.com)

The above graph is taken from a published report by Statista, 2023 in the United Kingdom the top brand of smart speakers was Amazon Echo which was used by 73% of people.
As of 2023, other countries users share Amazon Echo by countries are Germany (71%), Brazil (70%), the United States (65%), India (64%), and Canada (51%).
Google Home is used by 40% of people in Sweden and 37% of people in the Netherlands.
On the other hand, in South Korea, 34% of people are using KT and in China around 29% of people are using Redmi & Apple HomePod.

By Country and Region Wise

In 2023, the global smart audio system marketplace is anticipated to obtain $13982.85 million, growing at a CAGR of 38.9% from 2023 to 2030.
According to Edison Research, 35% of American users will be 12 years or older personal tech speakers in 2023.
The marketplace is anticipated to grow further in the coming years, with a compound annual boom charge (CAGR) of 7.1% from 2022 to 2023, reaching $7.07 billion in 2023.

North America

In 2023 consistent with Statista, the most important market for advanced speakers is skilled through the North American region with 34% of market share. In this region, the biggest market proportion with 91 percent is covered by the United States of America. Google and Amazon’s Echo speakers are the most popular, with a market percentage of 90 percent.

(Source: technavio.com)

Europe

Europe is the second-largest market for smart speakers, with a marketplace share of $8.4 billion in 2023, consistent with Statista. The United Kingdom is the most important marketplace within the vicinity, accounting for 5.55% of CAGR between the years 2023 to 2028. In the UK, Amazon’s Echo speakers are the maximum popular, with a market percentage of 74% in 2023, accompanied by Google Home with a market share of 42%.

Asia Pacific

Asia Pacific is the 3rd largest marketplace for tech speakers, with a share of 44% in 2023, as of Statista. China is protecting the most important marketplace percentage with 60.8% of the overall Asia Pacific tech speaker market. China’s Alibaba’s Tmall Genie audio system has the maximum popularity with 34.7% and Baidu with 30.2% share.

Rest of the World

The other part of the worldwide region is expecting to gain around 12.1% of the global market percentage of advanced tech speakers as of Statista’s report. Brazil is the maximum vital marketplace inside the location, accounting for 43.3% of the complete rest of the arena market. In Brazil, Amazon’s Echo audio structures are the most popular with 60.5%, and Google Home with 23.4% marketplace share.

Smart Speaker Statistics Website Traffic

In the year 2023, there are around 1.13 billion websites on the internet, but only a fraction of these are actively using and updating their devices as Smart Speakers.
According to Forbes Advisor reports, approximately 82% of websites are not updated regularly.
However, total websites are expected to enhance in the future years as more businesses and individuals are now involved with the advanced technologies in the Smart Speaker Statistics.
For instance, in 2023, Statista mentioned that Amazon.com had a mean of 2.5 billion visits consistently per month, making it the maximum visited internet site inside the United States.
Other famous websites consist of Google, YouTube, and Facebook, which receive billions of visits each month. However, it’s miles crucial to note that those websites aren’t solely devoted to smart speakers and might have a huge range of content.

By User Engagement

According to Speaker, advanced tech speaker websites have visible and boom in consumer engagement in 2023.
A report published by Edison Research in 2023, states that at least 35% of Americans 12 years or older owned a smart speaker.
This displays only a 2% growth from 2021, which showed a 6% growth from 2020.
Since 2017, according to these numbers, the general growth has been 28% of the market base, from 7% to the current 35%.
As the number of customers keeps growing, speaker websites will probably see an increase in site visitors and engagement.

By Brands Statistics

As of 2023, Amazon is the main tech speaker brand with a marketplace percentage of 28.3%.
On the other hand, the marketplace share of Google is 22.9%.
Other brands together with Apple, Xiaomi, and Alabama hold a small market share.

By Models Statistics

(Source: amazon. in)

Amazon’s Echo Dot is the most famous smart speaker version, with a marketplace percentage of 16.9% in 2023.
Google’s Nest Mini follows with a marketplace proportion of 12.5%.
Other famous fashions include Amazon’s Echo Show, Google’s Nest Hub, and Apple’s Home Pod.
Smart presentations, which include Amazon’s Echo Show and Google’s Nest Hub, include a display screen that can show visible facts similar to voice responses.

Future Use

Predicted Trends to Smart Speakers Statistics state that the marketplace is expected to continue to grow in recognition as more people turn out to be acquainted with the technology and its abilities. One of the traits that are predicted to continue is the combination of tech advanced speakers with different smart home gadgets. This will allow customers to govern their entire home with just their voice. Additionally, such speakers are anticipated to be more personalized as they research more about their customers and their preferences.

Another trend this is anticipated to preserve is the expansion of the speaker marketplace to new international locations and areas. As more people grow to be familiar with the generation, demand is anticipated to grow in nations where smart speakers are not widely used.

Conclusion

In the end, after completing the article on Smart Speaker Statistics it can be stated that the marketplace is predicted to grow gradually in 2023 and beyond. The marketplace is ruled by Amazon, as observed by Google and Apple. According to Statista, the installed base of smart speakers inside the United States is projected to reach 1025.9 million devices by 2025. Hope now has a clear idea about different brands and market share of smart speakers. Now let us know which smart speaker you are going to invest in this year.