Smart Speaker is a market that is slowly booming in countries like India. Even as the market declines in bigger nations like China, a report by techARC shows that the shipments exceeded 1 million units for the first time in India.

According to the report, Q4 2020 is said to have contributed to 40% of the Smart Speaker shipments. Overall, it is occupied by giants like Amazon, Xiaomi, Google, and Apple. Among these, Amazon leads the market with a whopping 79% Market Share(by Vol. of Units).

You can take a look at the Top-5 Best-selling Smart Speakers(Descending Order – Units of Sales) below:

• Amazon Echo Dot(3rd Gen)
• Amazon Echo Dot(4th Gen)
• Google Home Mini
• Xiaomi Mi Smart Speaker L09G
• Amazon Echo Dot(3rd Gen with Clock)

Amazon launched the Echo Dot(4th Gen) last year in September. It is currently retailing for ₹3,999 in India. Combined with Alexa, Echo Dot performs a variety of functions that is useful for consumers.

Report says that the US Giant will cement its position further in the under ₹5,000 segment despite competition from Chinese brands.

Speaking of which, Although Google is third on the list, Xiaomi has managed to outsell it and occupy second place in the overall market share by Value. If we recall, 2020 was the first year for Xiaomi to enter into the Smart Speaker category in India. It launched the Mi Smart Speaker for ₹3,499($48) in the country.

This price was well balanced compared to the Google Home Mini‘s launch price. Accordingly, the report says that Xiaomi manages to ship 75,000 units in the first year and captures 8% of the market share. Google, on the other hand, gets an 11% share in unit shipments but drops down to 7% in value.

Apple also had a share of its shipments with HomePod Mini dominating 84% of Apple’s 2% overall smart speaker shipments in 2020.

Looking forward, the smart speaker segment is said to grow further with a 35% YoY growth in the next 2-3 years. Watch out for the category below ₹5,000 as the competition is said to reach the next level by the arrival of other brands.

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(via)

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The smart speaker market in China saw a decline last year. The overall market fell by 8.6 percent year on year, out of which a significant part also includes the smart screen devices as well.

According to an IDC report, the sales volume for smart speakers in China reached 36.76 million units in 2020. Smart speakers with displays accounted for 35.5 percent of all units during the same time, which saw a 31 percent rise in sales year on year. The report added that the overall market decline was primarily due to the impacts of the Coronavirus pandemic along with “channel adjustments and limited application scenarios.”

During last year, the smart speaker market in China was still dominated by three major brands. Out of these, the competition was the most intense between Alibaba’s Tmall Genie and Baidu’s Xaiodu. In terms of annual sales, Alibaba edged ahead with its Tmall Genie. On the other hand, the fourth and final quarter saw Baidu win, through its collaboration with Pinduoduo in China. Furthermore, the market for smart speakers with displays had Baidu maintain the lead with a 63.4 percent market share.

These smart speakers are mainly designed to offer additional functionality and bring another level of interaction as well. At the moment, the smart speaker market in China is developing at a “rapid pace” as market education pushed by vendors help in better penetration of their products in the market. For 2021, IDC expects that the smart speaker market will see over 42 million units in shipments, marking a 14 percent year on year increase.

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Strategy Analytics has published a report on the Global Smart Speaker Market Q3 2020. According to it, the sales increased by a mere 2.6% YoY. However, smart speakers with a display aka smart displays showed a huge improvement over the last year as more customers preferred them over regular smart speakers.

As per the report, the sales of smart displays hit 9.5 million units in the third quarter of 2020. In other words, it grew by 21% YoY. As a result, the market share of this product category rose to 26% from 22% last year.

Talking about brands, Amazon and Baidu led the smart displays market. The Amazon Echo Show 5 and the Baidu Xiaodu Zaijia 1c were the best-selling smart display products worldwide in Q3 2020. Further, Amazon also retained its position as the overall global smart speaker market leader with a 28.8% share of total shipments.

Other brands also witnessed an increase in their sales and market share, except for Xiaomi, which had a ‘disappointing quarter’.

Having said that, like smartphones, the global smart speaker market was also severely affected in the first quarter of 2020. But Q4 is expected to bring more sales, thanks to new models and economic as well as consumer sentiment improvements in certain regions.

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