Smart speakers have become the Red Sea.

December 16, 2019

Smart speakers have become the Red Sea. Where is the next wave of smart hardware opportunities?


The smart home application market is US $ 100 billion
With the widespread application of artificial intelligence technology, Yang Jianyong, a senior consultant of the Internet of Things, pointed out that in the consumer electronics technology application scenario, the intelligent ecosystem of AI technology, voice assistants and the Internet of Things platform is increasingly perfected, injecting change into the home and promoting the rapid popularization of smart homes. At the same time, consumers have high demand for smart devices, showing strong demand for smart devices such as smart speakers, smart home appliances, smart cameras, smart switches, and smart door locks, driving the rapid growth of smart homes with a market size of hundreds of billions of dollars.
IDC predicts that global smart home shipments will increase to 840 million units this year and to 1.46 billion units in 2023, a compound annual growth rate of 14.9%. Yang Jianyong further pointed out that the consumer Internet of Things is the most potential market, and the smart home scenario is expected to become one of the largest spending markets of the Internet of Things by 2023. The huge market opportunity and attractive cake make it one of the core strategies of many technology giants. In particular, smart speakers and other technology giants are equipped with intelligent hardware as standard.

Giant battles smart speakers, the market has become the Red Sea
Smart speakers are the rapidly growing intelligent hardware. Smart speakers are already in the Red Sea. As the largest smart single product in smart home shipments, cumulative global smart speaker shipments reached 56.2 million units in the first half of this year. David Watkins, Director of Strategy Analytics predicts that Global smart speaker shipments will be 149 million units, and it is expected that the global smart speaker usage will exceed 260 million units by the end of the year.