New research highlights major trends impacting smart speaker and display market, including effects of COVID-19

New research from Parks Associates reveals a strong correlation between smart speaker and smart home device ownership—60% of smart speaker owners and/or smart display owners own at least one smart home device, versus 34% of US broadband households overall. The firm’s new research, Smart Speaker and Smart Display Market Assessment, identifies key market drivers and barriers in this product category and assesses growth in the smart speaker and display market via topline market forecasts.

“Smart speakers and displays are available at several price points, with an entry point as low as $50 or less for models like the Amazon Echo Dot and Google Nest Mini,” said Paul Erickson, Senior Analyst, Parks Associates. “They represent an affordable option for a command and control center for a home’s smart home and entertainment devices.”

Google in particular has been successful in tying its smart speaker/smart display products to the Google and Nest ecosystems—76% of Google smart speaker/smart display owners also own smart home devices.

The Market Assessment finds the number one self-reported use for smart speakers is streaming music and podcasts, with approximately three-fourths of smart speaker owners doing so. Almost half of smart display owners report using their smart display to listen to music, meaningfully lower than the percentage for smart speaker owners; however, music remains a top smart display use case.

“Despite COVID-19, smart speaker and smart display ownership has continued its trend of growth, which is on track to pass 50% of broadband households in 2021,” Erickson said. “These devices are becoming dominant devices for entertainment and smart home control and a standard integration of any connected home or connected entertainment strategy as consumers continue to expect voice controls in connected products. Solving privacy and security concerns continues to be an issue for the industry to address to drive further growth.”

Parks Associates research finds 69% of smart display owners are concerned about having a camera that can be turned on remotely.

Parks Associates’ Smart Product Market Assessments provide a comprehensive and deep analysis of a single smart product market. This analysis includes consumer data for each product, including trending data across years and deep dive questions on product usage, pain points, and preferences.

For more information on Smart Speaker and Smart Display Market Assessment, contact [email protected]. More information and tables of contents can be found at https://www.parksassociates.com/services/smart-product-assessments.

To schedule an interview with an analyst or to request specific data, please contact Rosey Ulpino at [email protected] or 972-490-1113.

About Parks Associates: Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.

The company's expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.

Each year, Parks Associates brings thousands of leaders together for its webinars and annual events. The firm hosts the annual executive research and strategy conferences CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. https://www.parksassociates.com
 

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