With evolving technology consumption among users, India is witnessing the rapid growth of smart speakers category. The three-quarter old category has witnessed 43 per cent sequential growth in the second quarter of this year.
Amazon Echo speakers are leading the smart speaker market with 59 per cent market share in India, according to IDC‘s report Worldwide Quarterly Smart Home Device Tracker.
Google smart speaker is at second number in the market. The recent marketing and sales drive by smart device makers firms have made smart devices one of the essential household items.
Indian smart home devices market consists of connected lights, smart speakers, connected thermostats, smart TVs, home monitoring/security products, digital media adapters, amongst other connected devices for homes. The market witnessed a year over year growth of 107% to reach at 1.4 million shipments in 2018 Q2.
The smart homes market is at a very nascent stage in India, we are seeing signs of it growing beyond entertainment,” says Navkendar Singh, Associate Research Director, IDC India.
Besides, the Indian video entertainment market is also witnessing an upgrade to connected media devices and larger screen viewing experience. It grew 81% year over year.
Xiaomi leads smart TV market whereas Amazon is also a leader in the streaming stick category, with almost 80 per cent streaming devices sold in India, added the report.
Globally, the smart home devices market is expected to grow 31 per cent year over year in 2018 to 643.9 million shipments.