According to the research data analyzed and published by ComprarAcciones.com, 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.
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 30.0 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.
