According to a recent market research report by OC & C Strategy Consultants, the rising popularity of smart speakers like Amazon Echo and Google Home is set to drive a massive surge in product sales. The study predicts that by 2022, annual sales of smart speakers in the U.S. and U.K. could reach an impressive $40 billion—up from just $2 billion this year. This dramatic growth is largely attributed to the expanding user base of Amazon Echo, signaling a major shift in consumer behavior.
The report highlights that voice shopping is becoming a key trend in the next era of technology. As more people adopt smart speakers, we're witnessing the rise of voice-enabled shopping experiences. In the U.S., 13% of households own a smart speaker, with 36% using its assistant for daily shopping tasks. In the U.K., 10% of households have such devices, and 16% use them regularly for purchases. Notably, 62% of U.S. smart speaker owners engage in voice shopping, compared to 44% in the U.K.
The report also notes that users tend to be younger, wealthier, and often live in families with children—factors that contribute to higher engagement in voice-based shopping. Younger generations are more open to adopting new technologies, while wealthier consumers prioritize convenience and innovation. Busy lifestyles further drive reliance on voice assistants like Alexa or Google Assistant for quick and easy shopping.
However, despite the optimism, current voice shopping is mostly limited to low-cost items like groceries, entertainment, electronics, and clothing. Only 39% of consumers trust personalized recommendations from smart speakers, and most prefer familiar products. This suggests that while the trend is growing, it still has room to mature.
In China, the smart speaker market experienced rapid growth, especially in 2017. GfK reported that retail volume jumped from 10,000 units in 2015 to over 100,000 units by August 2017. A key driver was the aggressive pricing strategy. For instance, Tmall Genie sold over 1 million units during the 2017 Double 11 festival at just 99 yuan. Similarly, Dingdong TOP reached a million sales after a deep discount, hitting as low as 49 yuan. These promotions helped push the Chinese market into the one-million-unit range.
Despite this success, the market faces challenges. While many brands compete with low prices, the proportion of devices under 200 yuan has decreased, with most now priced between 300 and 600 yuan. High-end models between 600 and 1,000 yuan are gaining traction. In 2017, several new models launched, including Tmall Genie, Xiaomi AI Speaker, Himalayan Xiaoya, and Rokid Pebble.
The report outlines four key trends in China’s smart speaker market: competition among manufacturers to dominate the smart home space, collaboration between audio and tech companies to improve sound quality, the influence of big brands like Xiaomi, and the issue of product homogenization.
However, there are three main barriers to development. First, the low adoption rate of smart homes limits the potential of smart speakers as control hubs. Second, cultural differences affect usage habits—Western consumers are more accustomed to using speakers in living rooms. Third, manufacturers focus on voice technology but neglect user experience, with common issues like poor far-field recognition and unstable conversation features.
As the market continues to evolve, balancing innovation with usability will be critical for long-term success.
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