Smart audio hardware revenues to exceed $10 billion by 2022, as audio brands challenge Amazon Echo

James Moar of Juniper Research

A new report by Juniper Research found that revenues from smart audio devices like the Amazon Echo and Sonos One will grow from an estimated $2.5 billion (€2.13 billion) in 2017 to over $10 billion (€8.52 billion) by 2022, as more audio brands integrate voice assistants into their devices.

With competition heating up in the smart speaker space, the new research, Smart Audio Devices: Strategies & Forecasts 2017-2022, explains that Amazon’s main challengers are currently: Google, Harman/Kardon, Sonos, Sony,Onkyo

Find out how these and other players will shape the 2018 market in Juniper’s complimentary whitepaper: Which Audio Brand Will Challenge Amazon’s Echo in 2018?

Smart speakers – assistants or audio devices?

The report shows that the smart speaker market is largely divided by sector and brand. Tech companies are building from a digital assistant perspective, while audio vendors see them as a way to make their products more relevant and feature rich. Only Apple is breaking this pattern, with the HomePod positioned as an intelligent audio device rather than a platform for Siri.

These different approaches affect several elements of product design, with a large impact on prices. The research shows how devices costing over $200 (€170.42) will take over 40% of sector revenue while being only 16% of shipments in 2022, as voice assistants proliferate in premium audio.

More holistic integration needed

The research found a window of opportunity exists for tech companies to act before audio players integrate smart capabilities fully into more devices. “Amazon is the current leader in smart speakers because they were first to build a complete smart audio ecosystem” remarked research author James Moar. “Few audio brands currently integrate voice assistants throughout their portfolio, so users wanting smart audio will need workaround devices for some years to come.”

The Amazon Echo Dot is the device of this type. However, Juniper expects growth for the Dot to slow over the next 5 years as audio brands introduce more smart audio speakers of their own.

Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.

Comment on this article below or via Twitter: @IoTNow_OR @jcIoTnow

Recent Articles

IoT and education: Bridging the digital divide

Posted on: June 1, 2020

Due to the global outbreak of COVID-19, schools worldwide had to shut down quickly. While many schools already operated with some online component, most were not equipped to become 100% digital in a matter of days. Our own online portal for digital learning saw a 200% increase in activity after the outbreak put schools on a

Read more

Global IoT interoperability progress as support grows for oneM2M

Posted on: June 1, 2020

International standards initiative oneM2M has welcomed a range of new members as organisations around the world seek to accelerate the development of the Internet of Things (IoT) market through greater interoperability.

Read more