Smart Speaker Revenue to Top $10 Billion in 5 Years, Juniper Reports

Annual revenue from smart speakers will grow to an estimated $10 billion by 2022, from $2.5 billion this year, as more audio brands integrate voice assistants into their devices, said a Tuesday Juniper Research report. Amazon, which launched the category with the Echo, leads the market and is followed by Google, Harman Kardon, Sonos, Sony and Onkyo, said Juniper. Devices priced over $200 will take more than 40 percent of sector revenue, while accounting for just 16 percent of shipments in 2022, as voice assistants proliferate in premium audio, Juniper said. Amazon’s Echo Dot, typically priced $29-$49, leads shipments, but growth will slow over the next five years as audio companies integrate voice assistants in their products, Juniper said. That creates a “window of opportunity” for tech companies near term, said the research firm. “Few audio brands currently integrate voice assistants throughout their portfolio, so users wanting smart audio will need workaround devices for some years to come,” said analyst James Moar.