SAR Insight & Consulting Estimates 335 Million Voice Assistant Smart Devices in Use in China by 2023

Smart devices have proliferated across everyday life for Chinese people, offering considerable opportunities for global companies operating within the AI space – specifically focused on the voice assistant market. According to the latest report from SAR Insight & Consulting – China Voice Market – the average Chinese consumer has become much more positive about the benefits of owning connected devices helping to drive greater interest in the interactive voice functionality.

Riot, the service of Rethink Technology Research a research and analyst company focusing on IoT, video and wireless, say that the revenues of Smart Hhome as a Service (SHaaS) will rise to $15.75 billion by 2023. The study is entitled “Smart Home as a Service – Awakened from Sleep by a Deep Voice - Forecast to 2023”. The analyst firm confirms Communications Services Providers (CSPs) will need to turn to consumer voice platforms to explore the full potential of the smart home market.

The global smart home market ended on an upbeat note in 2017 reaching $84 billion, up 16% from $72 billion in 2016 according to a report just released by Strategy Analytics. According to the report, “2018 Global Smart Home Market Forecast”, worldwide consumer spending on smart home devices, systems and services will total nearly $96 billion in 2018 and grow at 10% CAGR over the forecast period (2018 to 2023) to $155 billion. Adoption of smart speakers from Amazon and Google is boosting the market.

Market research firm Futuresource Consulting announced the latest edition of its "Voice Assistants in Consumer Electronics" report. Voice Assistants (VAs) are being integrated into an increasing number and variety of connected consumer devices in multiple markets and are on course to develop as a major user interface over the next 2-3 years, according to this latest report, which leverages new industry and end-user research to assess the size and shape of the market at a worldwide and regional level.

A new report by Juniper Research predicts that revenues from smart audio devices like the Amazon Echo and Sonos One will grow from an estimated $2.5 billion in 2017 to over $10 billion by 2022, as more audio brands integrate voice assistants into their devices. With competition heating up in the smart speaker space, the new research, "Smart Audio Devices: Strategies & Forecasts 2017-2022", looks at Amazon’s main challengers.