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Smart Speaker

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Industry Application Analysis

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Smart Speaker

Smart speakers, different from traditional speakers, have unique functions such as voice interaction, content services, Internet services, smart home control, etc. They can be deeply integrated with family living scenes, and become the control center of smart home at present and in the future by virtue of their natural voice interaction advantages.
The global smart speaker industry is developing rapidly with broad prospects. Strategy Analytics report shows that in 2020, the global sales of smart speakers reached a record level, breaking 150 million units. In the first half of 2021, the total shipment of smart speakers (including smart screens) will be 77.2 million units, with a year-on-year growth of 35.3%. In the third quarter of 2021, the total shipment of smart speakers (including smart screens) will increase by 10% year-on-year, reaching 39.3 million units, setting a historical record in the third quarter. According to Statista, by 2025, the global smart speaker market will reach 35.5 billion US dollars, with a compound annual growth rate of 19.98% compared with 2019. The shipment of smart speakers will reach 409 million units, with a compound annual growth rate of 26.89%. With the increase of brand publicity, the market penetration of smart speakers will be further improved, and a new round of intelligent innovation of software and hardware integration will be driven to further promote the development of smart home.
China's smart speaker market started late, but it has shown explosive growth in recent years. In 2016, the sales volume of smart speakers in China was less than 100000, while in 2017, the sales volume of smart speakers reached 1.76 million, with a retail sales volume of 490 million yuan. In 2018, since Tmall, Xiaomi, Baidu and other brands successively launched mini smart speakers, smart speakers again enjoyed rapid growth, with sales volume soaring by 823% to 16.25 million, with a retail sales volume of 3.65 billion yuan. At present, China has become the world's largest smart speaker market. According to IDC data, the market sales of smart speakers in 2021 are expected to exceed 42 million units, with a year-on-year growth of 14%. Among them, the market share of smart speakers with screens increased by 31%, from 14.2% in 2019 to 35.5%. In the second quarter of 2021, the sales volume increased by 45%, to 11.6 million units. NdFeB permanent magnet material is the key material for manufacturing smart speakers. The rapid growth of smart speakers will quickly drive the development of the permanent magnet material industry.