Monday, September 27, 2021

Rivals gain ground to Amazon in the booming smart speaker market

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Martin Haglin
Martin Haglin
Martin Haglin was born and raised in Conneticut. Martin has worked as a journalist for nearly a decade having contributed to several large publications including the BBC World and CNET. As a journalist for Business News Ledger, Martin covers state news and human interest stories.

Amazon maintains its lead in the growing global smart speaker market, but Google and others are gaining ground, according to a market analysis firm.

A survey conducted this week by Strategy Analytics estimated that Amazon sold 4 million Echo speakers with its digital assistant Alexa in the first quarter of 2018, which is equivalent to 43.6 percent of the global market.

Amazon’s sales doubled from the previous year, but its market share fell due to stronger growth from other players, particularly Google.

Amazon maintains its lead in the growing global smart speaker market, but Google and others are gaining ground, according to a market analysis firm.

A survey conducted this week by Strategy Analytics estimated that Amazon sold 4 million Echo speakers with its digital assistant Alexa in the first quarter of 2018, which is equivalent to 43.6 percent of the global market.

Amazon’s sales doubled from the previous year, but its market share fell due to stronger growth from other players, particularly Google.

New entrants are experiencing rapid growth in smart speaker sales, especially the Chinese Alibaba and Xiaomi in their own market, and the American Apple.

According to Strategy Analytics, a total of 9.2 million units were sold in the quarter, representing an increase of 278 percent over the previous year.

The estimates, which occur due to the lack of official sales figures from suppliers, confirm the trend of rapid growth and that Amazon loses part of its initial leadership.

David Watkins, director of Strategy Analytics, said that Amazon and Google account for 70 percent of global sales, down from 94 percent a year ago.

“This is partly due to the strong growth of the smart speaker market in China, where both Amazon and Google are currently absent,” he said.

“Alibaba and Xiaomi lead the way in China and their strength in the national market is showing enough to propel them to the top five in the world.”

According to the report published on Thursday, Alibaba ranked third with a market share of 7.6 percent, followed by Apple with 6 percent and Xiaomi with 2.4 percent.

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