Smart speaker sales in 2020 are estimated to grow by 17% to 170-million units.
Comparatively, the growth rate in 2019 was a remarkable 70%, reaching a total of 146,9-million units, according to research data analysed and published by ComprarAcciones.
The global smart speaker market was valued at $11,9-billion in 2019 and could be worth $35,5-billion by 2025.
Strategy Analytics data reveals that 28-million smart speakers were sold globally in Q1 2020. Though that was an 8,2% increase, it was the slowest growth on record.
In Q1 2020, sales of Chinese brands Baidu, Alibaba and Xiaomi contracted by 2,7% year-over-year (YoY) collectively. On the other hand, US brands Amazon, Google and Apple together grew by 10%.
Compared to Q1 2019, Chinese consumers bought 300 000 fewer units in Q1 2020. Similarly, in Q4 2019, total unit sales in China totaled 13,08-million compared to 10,9-million in Q1 2020.
In Q2 2020, global sales increased by 6% to reach 30-million units. Amazon was the leading vendor during the period with a 21,6% share of the market. Comparatively, in 2018, Amazon’s market share was 33,7%, dropping to 26,2% in 2019. On the other hand, Google’s market share dropped from 25,9% in 2018 to 20,3% in 2019 and further down to 17,1% in Q2 2020.
Google and Amazon held a 75% market share in 2019. But in Q1 2020, Amazon, Google and Apple together had a 47% share. In Q4 2019, Baidu, Alibaba and Xiaomi collectively held a 30% share, growing to 38% by Q1 2020.
In terms of unit sales, Amazon grew by 17% YoY in Q1 2020 while Google grew by 20%. Baidu grew by 171%, Alibaba by 94% and Xiaomi by 167% in the same period. Amazon, however, continues to hold the dominant role in the US with 69,7% of the local market according to eMarketer.