Denave has conducted a survey on the convergence of Artificial Intelligence and electronics in the Smart speaker category titled “Smart Speakers – India Market Analysis”. The survey conducted across 18 states, 36 cities, 400+ stores and 20,000+ in-store purchases between April – October 2018, is focused on understanding the smart speaker market in India by studying market sentiments, demographic impact and overall adoption trends. The report is significant in predicting future investments or revenue generation expectation for industry players in the same category.
The report is an outcome of Denave’s unique sales insights garnered via wide-ranging service offerings including Intelligent Database Management, Sales Analytics, Retail Analytics, Field Sales & Marketing amongst others across multi-industry customer portfolio.
Key Findings of the report:
- Delhi, Mumbai & Bangalore together contributes to 70%of smart speaker sale in India
- Delhi tops the list at 28%. West Mumbai accounts for more than half of the smart speaker sales in Mumbai at 59.31%. In Bengaluru, 84.88% of smart speaker sale comes from East and South Bengaluru
- Large Format Stores contribute to 61%of Total Product Sale
- The age-group of 25-35 yearsare the top buyers of smart speakers for both men and women
- Around 75%men & 25% women buy smart speakers
Sharing his perspective on the report, Snehashish Bhattacharjee, Global CEO, Denave said “Technology is impacting people in every sphere of their lives, including at the home front. With IoT charting exponential growth trajectory and ever-increasing focus on technology integration, cross-device compatibility and interoperability, the home automation market is poised to grow very fast. Marketeers need to consider the dynamic eco-system and customer sentiments while strategizing their go-to-market approach in this category. Denave, being on the forefront of sales enablement has a window to unique sales insights and is equipped to create insight-driven sales methodologies for market players across industries and product segment. This report is an attempt in this direction”
Briefly, while the Indian Smart Speaker market may still be in a nascent stage, the growth rate and demographic dividend presents immense market opportunities. India remains a hot market for the product category as the geo-specific customisations become more pronounced and usage patterns are taken into consideration for planning the marketing and sales strategy. In due course of time, the growing consumption of smart speakers in India may become a key driver for propelling the trend of connected and interactive homes experience.