Global Smart Speaker market shipments hit 154 million in 2020 – up 58% YoY
LONDON 19 February, 2021 —The global smart speaker market grew by 58% in 2020 accounting for 154 million units shipped over the past 12 months, according to Omdia’s latest Smart Speakers 2020 report. The total smart speaker revenue is now up to $3.2bn globally.
North America shipments grew by 71%. YoY to 72.9 million device shipments, the highest growth in the market since 2017. The Asian market also had significant growth increasing by 48% YoY to reach 64 million shipments, while Europe accounted for almost 16million devices.
The global install base for Smart speakers rose to 338.9million devices in 2020 up 138 million units from 2019 and is forecasted to rise to 512 million devices in 2021. Sales revenue for smart speakers hit $11.3bn in 2020 and is expected to grow to $14.7bn in 2021.
The rise in video chatting has spurred growth in smart speakers with a display. Globally in 2020, Omdia estimated about 1 out of 5 (18.8%) smart speakers shipped had a display, up from 11.5% in 2019.
Despite the fierce competition among smart speaker brands, industry leaders are joining forces to increase AI capabilities and overall smart home and smart speaker market penetration. In the United States, Apple, Google, and Amazon, among many others, are joining forces for Connected Home Over IP (CHIP). In South Korea, there are two groups of companies looking to compete in AI. The first group consists of SK Telecom, Samsung and Kakao. The second group includes KT, LG, and LG Uplus. In June 2020, the latter group of companies announced a platform called “AI One Team”.
Blake Kozak, senior principal analyst at Omdia commented: “Since the pandemic began, consumers have seen the biggest change in their use of group video calling (Zoom, Teams), watching online videos and social networks.
“Listening to online music was also a big change for consumers while an increase in use of AI assistants (Siri, Alexa) was mixed. Smart speaker brands have benefited from these emerging trends by partnering with Zoom and other video chat services.”
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