According to the latest market research report, in the first half of 2024, the domestic smart speaker sales will be 8.055 million units, with sales of 2.17 billion yuan, a year-on-year decrease of 29.8% and 33.8% respectively, I love audio network reported.
In terms of monthly sales, in the first half of this year, the average monthly sales volume of smart speakers was 1.3425 million units, down from the average monthly sales of 1.913 million units in the same period in 2023. Due to the Chinese New Year, sales fell most prominently in February this year, reaching 41%, and the rest of the months also fluctuated around 30%. Despite the 618 mid-year promotion in June, this did not stop the weakness in the smart speaker market, which fell by 29%.
In the past three years, China's smart speaker market has been sluggish, with sales declining by 20% to 30% in almost every quarter compared with the same period. China's smart speaker market has been in recession for 13 consecutive quarters, and this year, there is still a risk of an intensified downward trend.
As far as brands are concerned, the smart speaker market is still controlled by the three giants of Xiaomi, Baidu and Tmall Genie. In the first half of this year, the sales share of the three companies was 41%, 35% and 19%, respectively, and together accounted for 95% of the total sales. With the advantages of the multi-hardware ecosystem of intelligent interconnection, Xiaomi's market share has increased from 34% in the first half of 2023 to 41%. The decrease in the share of Baidu and Tmall Genie is mainly due to the decline in sales of entry-level products and smart speakers with screens.
The head agglomeration effect of smart speakers is becoming more and more significant, and the competitive barriers built by the top three companies make it difficult for small brands to survive, and there are almost no new players, lacking market vitality. According to statistics, there will still be 20 major brands in China's smart speaker market in 2023, and the current number has been reduced to 12, and the head agglomeration effect is highlighted.
With the development of AI large models, smart speakers have begun to integrate AI large model voice technology. In the first half of this year,Xiaodu launched the first smart screen based on Baidu Wenxin model——Xiaodu smart screen X9 Pro,It is positioned as a more intelligentAIThe companion product。 at the same time,Tmall GenieX6It also integrates Tongyi QianwenAIThe large model,The accuracy of the answer has been improved。 The blessing of large models may be able to save the decline of smart speakers.
Data source: RUNTO Lotu Technology