Current Situation of China Smart Speaker Market in 1.

According to data from the Champ Consulting Group,2022China's wireless speaker market sales in4,87010,000 units, down year-on-year20.7%. Among them, the sales volume of smart speaker market is2,85110,000 units, accounting for nearly 60%, affected by the cyclical development of the market and the narrowing of subsidies, sales decreased by nearly 1/4. Traditional speaker market sales are2,01910,000 units, down year-on-year13.9%Under the diversified development of demand, the traditional speaker market shows strong resilience.

Judging from the brand pattern, Baidu, Xiaomi, Tmall Genie and Huawei are in the top four, with a total share97.0%Higher than the same period last year.1.4percentage point. Baidu ranked first with a share37%, is the only quarterly sales breakthrough200The brand of 10,000 units. Millet (including red rice) ranked second with a share30%. Tmall Genie share is27%, inTOP4The largest decline in sales among brands. Huawei ranked fourth with a share3.5%, its in600The middle and high-end market above yuan ranks second.

From the product characteristics, the development speed of the screen speaker began to slow down.2022In the third quarter of the year, the market share of screen speakers was20.4%Decreased compared to the same period last year.1.0percentage point. High sound quality has become the same product direction for smart speaker companies.2022In the third quarter of the year, the market share of high-quality speakers reached4.0%Higher than the same period last year.1.2percentage point.

2. China Smart Speaker Market Trends

According to data from the Champ Consulting Group,2023China's wireless speaker market sales will decline year-on-year in2%The decline has narrowed significantly from last year, but the consumer environment and the rapid increase in early market penetration have led to some pressure on China's speaker market sales this year. Under the challenge, the orderly recovery of the economy, the recovery of outdoor demand and the optimization of human-computer interaction have also brought opportunities for market development. The market layout during the year should pay attention to the following three growth points:

Grasp the demand for quality upgrades. During the outbreak, home office, learning and entertainment demand to drive the speaker market penetration rate rapidly increased, the entry-level market appeared phase saturation, quality demand still has room for growth.2022Under the overall market sales decline in the year, the traditional speaker market1,000-1,500Yuan price segment and smart speaker market500-1,000The market sales volume of the meta-price segment maintained growth, and the demand for upgrade iteration gradually appeared. With the change of user demand from product function to user experience, the demand for quality upgrading of speaker market will further emerge this year, and users' attention to sound quality and appearance design will gradually increase.

Expand the breakdown scene layout. sports, games,KSongs, conferences and other sub-scenes are becoming an important direction for the expansion of the speaker market outside the mainstream audio demand. With the national consumption to the scene outside the home tilt, outdoor leisure and entertainment-related use demand will gradually increase, promote the development of market segments. On the one hand, expanding the layout of relevant scenes requires upgrading of product functions, such as equipment endurance, improvement of waterproof level and expansion of outdoor functions such as reverse charging. On the other hand, speakers need to accelerate innovation in product form and accessory combination to meet the needs of diversified scenes.

Promote the high-end market intelligence.2022The proportion of intelligent wireless speaker market in China is close60%From the price range, the degree of market intelligence is obviously different, the proportion of intelligent market range below 1000 yuan is more than 60%, and the proportion of intelligent speakers in the market sales above 1000 yuan is only10.6%, and mainly with a screen smart speaker. Limited by interactive experience, platform resources, payment mode and other factors, speaker intelligence for users to bring more limited experience upgrade is the main reason for hindering the development of intelligent market, the subsequent intelligent speaker voice interaction capability optimization and content resource expansion will gradually improve the intelligent use experience, thus leveraging the high-end market demand.

3. China Smart Speaker Market Challenges

Although China's smart speaker market still has room for growth and opportunities, it also faces many challenges and difficulties, mainly including the following aspects:

The market competition is fierce. China's smart speaker market has formed a pattern of head brands such as Baidu, Xiaomi, Tmall Genie, and Huawei. The competition among these brands is very fierce, not only in price subsidies and promotions, but also in product innovation and content ecology. layout. At the same time, there are some emerging brands and traditional speaker manufacturers are also seeking to enter or expand their share in the smart speaker market, such as Apple, Xiaodu, BOE, Harman Kardon and so on. These brands either rely on their own technical advantages and brand influence, or cooperate with other platforms or content providers to try to break the existing pattern or seize certain segments.

User requirements are not clear. Smart speakers as a new smart device, its user needs are not very clear and stable, many users just out of curiosity or early psychological purchase, rather than real use scenarios and needs. Therefore, the use frequency and duration of the smart speaker are often not high, and the user's requirements for the function and experience of the smart speaker are not high. This has led to the low-end and homogenization of the smart speaker market, the user's loyalty and satisfaction with the product is not high, and the motivation for new and upgrade is insufficient.

Product innovation is weak. Product innovation in the smart speaker market is mainly concentrated in two aspects: screen speakers and high-quality speakers, but these innovations have not brought significant user experience improvement and market expansion. Although screen speakers increase the dimension of visual interaction, they also increase cost and complexity, and overlap and replace other devices such as smartphones and tablets. Although the high-quality speaker improves the sound quality level, it also faces the problem that the user demand is not strong and the content resource does not match. In addition, the smart speaker market lacks more innovations, such as artificial intelligence, Internet of Things,5Gand other technologies, as well as the development of more niche scenarios and features.

Content ecology is not perfect. Content is the core driver of smart speakers and an important factor in distinguishing different brands and platforms. At present, the content ecology of China's smart speaker market is not perfect and rich, which is mainly manifested in the following aspects: first, the quantity and quality of content resources are insufficient, especially the high quality content for high-quality speakers; second, the dispersion and closure of content resources, the lack of effective intercommunication and cooperation between different brands and platforms, resulting in inconsistent and consistent user experience; third, the willingness and mode of payment for content resources are not mature, users' cognition and acceptance of paid content are not high, and there is a lack of reasonable and flexible payment methods.

4. China Smart Speaker Marketing Strategy Advice

In view of the current situation, trends and challenges of China's smart speaker market, this paper puts forward the following marketing strategy suggestions according to the characteristics of different market segments:

For the entry-level market, the focus is on improving user awareness and attracting users to try. The entry-level market is mainly for the sinking market, the elderly, children's education and other segments, these areas of user awareness and habits of smart speakers are not mature enough, need to be promoted and educated through a variety of channels and ways, such as online and offline advertising, social media,KOLrecommend, experience shop, etc. At the same time, it is also necessary to reduce the user's purchase threshold and risk through low prices, gifts, bundled sales, etc., to promote user trial and experience.

For the upgraded market, the focus is on highlighting product differentiation and enhancing user stickiness. The upgraded market is mainly for users who already have smart speakers, or users who have higher requirements and expectations for smart speakers. These users have higher standards and preferences for product functions, quality, design, etc., and need to innovate and optimize products. To meet and attract. At the same time, it is also necessary to increase the frequency and duration of use of users through the enrichment and optimization of the content ecology, increase the loyalty and satisfaction of users to the product, and promote the replacement and upgrading of users.

For the high-end market, the focus is on building brand image and enhancing user value. The high-end market is mainly for users who have extremely high requirements and pursuit of smart speakers, or users who have strong consumption ability and willingness to smart speakers. These users are not sensitive to the price of the product, and pay more attention to the brand, technology, service and other aspects of the product. It is necessary to establish the professionalism, authority and trust of the product through brand building and marketing. At the same time, it also needs to be through artificial intelligence, Internet of Things,5GThe application of other technologies to enhance the intelligent level and use value of the product, create more use scenarios and functions, and let users feel the convenience and fun of the product.

Conclusion

The smart speaker market is a market full of opportunities and challenges. With the advancement of technology and changes in user needs, the market will continue to develop and change. Shangpu Consulting believes that after a period of trough, China's smart speaker market will usher in a new round of upgrading and expansion, but this also requires continuous innovation and cooperation among various brands and platforms to provide better products and services to users, so as to win the recognition and support of the market. According to data from the Champ Consulting Group,2023China's smart speaker market will show diversified, differentiated and intelligent characteristics, bringing new impetus and direction for the development of the industry.