Smart speaker sales are on a rise, with Amazon leading the way, while smartphone sales continue to slump, as consumer trends change…
For some time now, sales of smartphones have fallen. It’s part of an ongoing trend as consumers hold onto mobile devices for longer periods.
While manufacturers have tried various gimmicks such as foldable devices and are heavily touting the many benefits of 5G, people simply aren’t buying as frequently as they did in the past.
Meanwhile, the sales of smart speakers have taken off and are gaining more and more momentum.
Smart Speaker Sales Rise as Smartphone Sales Decline
Amazon leads the smart speaker market in terms of US-based companies. (Chinese brands have carved out their own, causing Amazon’s worldwide market share to drop.)
Google is second, and it too, is suffering from a drop in market share, also due to cheaper Chinese products.
Amazon grew by 47 percent year-over-year, from 2018 to 2019. David Watkins, Director at Strategy Analytics predicts smart speakers will “exceed 260 million units by the end of the year.”
In the United States, smart speaker ownership is now part of 30 percent of all households. And, the average number of smart speakers per home is about 1.4. Smart speakers also outperform other products in the way of loyalty, reaching 97 percent.