U.S. Smart Speaker Market

Goals

To understand the current size of the smart speaker market in the U.S. and how large it's projected to get with current statistics on smart speaker penetration and usage in the US, as well as forward-looking projections.

Early Findings

During our preliminary research, we were able to determine the penetration of the overall smart speakers market in the U.S., the percentage of homes in the U.S. that have smart speakers, the number of smart speakers most homes have, the projected demand for smart speakers, and the smart speaker usage share of Amazon and Google. Below is an overview of our early findings.

Overall Market

  • In December 2018 reports from RBC Capital Markets analysts found that U.S. penetration of the overall for smart speakers market reach 41%, which was up from 21.5% in 2017.
  • A Nielsen study in 2018 found that 24% of US households owning a smart speaker, with 40% of those homes owning multiple speakers.
  • In January 2019, NPR and Edison Research conducted a survey that estimated that there are roughly 120 million smart speakers in U.S. homes.
  • This is a year-over-year growth of 78%.
  • The survey also found that number of owners that had three or more smart speakers had increased to 30% since December which was only at 17%.
  • On the other hand, 22% of respondents claimed to only have two speakers at home.
  • However, the survey found that demand for smart speakers is expected to be low in the coming years, with the survey finding that only 23% of respondents saying that they were "somewhat likely" to purchase another speaker and only 7% saying it was "very likely".
  • 69% of respondents said they were "not at all likely" to purchase another smart speaker.

Amazon

  • In December 2018, reports from RBC Capital Markets analysts found that U.S. penetration of Amazon's Alexa-enabled devices reached 31%.
  • They also found that there are now more than 100 million Alexa-enabled devices installed in the U.S.
  • Alexa is forecasted to generate a total revenue of $18 billion to $19 billion by 2021.
  • Amazon has a 66% share of the smart speaker market.

Google

  • The RBC reports also found that Google Home saw a U.S. penetration of 23% in 2018.
  • The reports also determined that each home owned around 1.7 Google Home devices.
  • Google Home generated a total of $3.4 billion in revenue in 2018, but is only expected to increase that to $8.2 billion by 2021.
  • Google has a 29% share of the smart speaker market.

Proprietary Research

  • In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.

Proposed next steps:

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