The smart speaker industry is a growing market that is predominantly characterized by wide range of products for residential and commercial applications and price range. The major players offers variety of smart speakers in a price range of less than $50 to $200 and above, based on voice assistance such as Siri, Amazon Alexa, Google Assistant, AliGenie, Xiaomi AI assistant, and others.

Amazon, Alphabet Inc. (Google), and Apple Inc. are the market leaders with diversified product portfolios, strong geographical reach, and high strategic initiatives. Over the next five years, suppliers will be focusing on emerging countries like China and India where they are likely to capture larger market share in the global smart speaker market. The growing trend of smart home will create an opportunities for wider adoption of smart speaker.

Over the last five years, suppliers have focused on new product developments which are affordable in order to penetrate greater range of consumers. The suppliers have grown strategically in the last five years. Amazon is the pioneer in smart speaker technology which provides them advantage over other competitors to hold a position of market leader. Also, Alphabet Inc. (Google) is a strong competitor of Amazon and a leading global supplier for the smart speaker industry. The first ever smart speaker was launched by Amazon in the year 2014. The suppliers have also made partnerships, agreements, and contracts with various online and offline distributers around the world.

The companies producing smart speaker are exploring market opportunities with starkly different strategies. Lucintel, a leading global management consulting and market research firm, has analyzed the global smart speaker market and has come up with a comprehensive research report, “Worldwide Smart Speaker Competitive Analysis and Leadership Study 2018.” This report offers a full competitive analysis from target markets to product mapping, from selling strategies to production capabilities. This report has examined and profiled the world’s leading smart speaker producers. Lucintel created profiles of each competitor based on the following criteria:

Company overview

• Company Description
• Corporation Statistics

Smart speaker business overview

• Smart Speaker Business Segments
• Key Differentiators and Strengths
• Key Smart Speaker Competitors

Products and product positioning

• Smart Speaker Product Line Overview
• Product Positioning in Market Segments

Markets and market positioning

• Market Positioning in the Global Smart Speaker business
• Revenue Breakdown by Market Segments
• Revenue Breakdown by Region

Production

• Global Manufacturing Operations

Innovation and market leadership

Marketing, sales and organizational capabilities

• Marketing and Sales
• Management Commitment and Track Record

Strategic Initiatives

The resulting research report represents the most comprehensive strategic and tactical assessment of the smart speaker producers and competitive landscape available. In terms of the total revenue generated by leading smart speaker producers, Amazon (Home) ranks number one, followed by Alphabet Inc./Google (Echo). Apple Inc.(HomePod), Alibaba Group (Tmall Genie), Xiaomi Corporation (Mi AI), and Sonos (One) all of which are included in the report.

The detailed analysis of each company offers a critical view into key strategic areas, including:

1. Smart speaker producer target markets
2. Key differentiators, strengths, competitors, and other insights
Designed for the smart home industry professionals, financial services firms, and users of smart speaker, Lucintel's “Worldwide Smart Speaker Competitive Analysis and Leadership Study 2018” is the industry’s comprehensive examination of the smart speaker producers’ competitive landscape.

Collected from a series of primary vendor interviews and secondary sources, Lucintel also provides its own scorecard for determining which of these companies is better aligned with future market opportunities and which has the ability to gain additional market share. Using its proprietary research methodology, Lucintel has developed a comparative analysis tool, the ‘Lucintel Leadership Quadrant,’ which identifies leaders and challengers in the smart speaker market and rates each smart speaker producer on two primary criteria as shown below:

1. Alignment with market opportunity
2. Ability to gain market share

Ability to gain market share was analyzed using following parameters:

− Product portfolio
− Financial strength
− Asset position
− Execution skill
− Customer experience

Alignment with market opportunity was analyzed using following parameters:

− Target growth markets
− New product development
− Corporate and functional strategy
− Presence within the industry
Lucintel offerings include Telecommunication Report, Telecommunication Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Matrix.

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth—whether you need to understand market dynamics, identify new opportunities, or increase your profitability. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A and due diligence services to executives and key decision-makers in a variety of industries. Over the last 20 years, Lucintel has served over 1,000 corporations in 70 countries. For further information, visit www.lucintel.com.