Chinese players catching up fast with Google, Amazon in smart speaker market

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Global smart speaker market has seen a rise of 6% in terms of sales in the second quarter of 2020 as compared to the previous quarter, according to a report by Strategy Analytics.
As per the report, the sales of smart speakers worldwide reached 30 million and the first position was secured by Amazon with a share of 21.6%, followed by Google that had a market share of 17.1% and Baidu with a market share of 16.7%.
The report also claims that Chinese vendors recovered from a slow Q1, which was affected by pandemic-related issues in the Chinese market. In comparison, however, most US players suffered from slower consumer demand in Q2.
“The pandemic continues to affect sales patterns around the world. Q2 demand in Asia-Pacific recovered from the drama of lockdown in Q1, but North American and European sales fell slightly quarter on quarter as those economies went into reverse. We are optimistic that recovery in these regions will mirror what we have seen in China and that the underlying popularity of smart speakers will propel the market to a positive outcome for the rest of the year,” said David Watkins, director at Strategy Analytics.
Predicting how the performance is expected to be in the third quarter of 2020, the Strategy Analytics report said that in the coming quarter a stronger performance is expected as more economies begin to recover. Also, global sales are on track to reach 161 million units for the full year, claims the report.
“Smart speakers have not suffered as badly as major segments like smartphones, and Q1 supply issues are now largely resolved. Vendors should nevertheless take particular care with brand messaging as our research points to clear evidence that consumers are switching brands based on how companies respond to the pandemic,” said David Mercer, VP, Media and Interactive Home.

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