Smart speaker is a wireless speaker supported by Bluetooth, Wi-Fi, or other any wireless etiquettes and driven by virtual assistant, which is powered by artificial intelligence. It is the newest technological advancement ruling the consumer technology market and is triggered by a voice to accomplish different tasks such as listening to music, ordering food, and online shopping. It also performs activities, such as finding weather information, latest news, listing day to day activities, and incorporating with the smart home appliances. These several features provide an edge to smart speaker market over other substitute technological products and services.
Increasing diffusion of the IoT technology is likely to push the smart speaker market growth over the estimated timeframe. Several smart electronic devices are gradually keeping users associated to the internet and the network of connected devices in addition to smartphones. These devices involve features such as social networking applications, gaming, weather information, e-book readers, music players, digital camera, and GPS navigation. A decent growth is noticed in the fields of the Internet of Things (IoT) and connected devices owing to the decrease in computing costs and growing Wi-Fi connectivity. This is increasing the proliferation of these devices across the consumers of smart technologies, accelerating the growth.
The study analyses Global Smart Speaker market based on IVA, Application and Geography.
By IVA, the market is categorized into Alexa, Google Assistant, Cortana, Siri etc. Siri-enabled smart speaker is anticipated to notice a substantial growth over the forecast period owing to the large established market of Apple and iOS for the smart devices. Also, Siri offers a high quality of virtual surround sound and deep integration technology, which will increase the popularity of these devices among the consumers.
However, Alexa-enabled smart speaker is likely to hold majority of the market share due to its low cost and several advantages such as controlling smart homes, playing games, and playing music. Several companies are developing devices equipped with Alexa that are affordable to a wide range of customers.
The smart speaker can be used for personal, professional and commercial use. Smart speaker market in personal applications is likely to dominate the market due to the increasing usage of the devices in smart homes. The incorporation of these devices with devices such as smart lightbulbs, thermostats, and TVs is encouraging the consumers to adopt these devices for personal uses. Devices such as Google Home allow the users to make phone calls and send messages, monitor the user activity, set alarms, and go shopping.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. North America is likely to hold a major share for the global Smart Speaker market over the forecast period. Mounting utilization of smart home devices drives the sale of smart speakers in the market. As the global market is currently experiencing its changeover from the information age to the era of artificial intelligence, it leads to many technical interruptions and innovations enabled by the power of artificial intelligence. Thus, conventional consumer home devices, which were functioned manually, are progressively being replaced by smart devices. The capability of the smart speakers to effortlessly assimilate with the smart home devices suggestively boosts the growth of the smart speaker market in North America along with other regions.
Amazon, Inc., Harman International, Apple Inc., Sonos, Alphabet Inc., Baidu, Inc., Bose Corporation, Sony Corporation, Onkyo Corporation, Samsung Electronics, Panasonic Corporation, Xioami Inc. among others are the major players active in the Smart Speaker market.
The study analyses Global Smart Speaker market based on IVA, Application and Geography. By IVA, the market is categorized into Alexa, Google Assistant, Cortana, Siri etc. Siri-enabled smart speaker is anticipated to notice a substantial growth over the forecast period. The smart speaker can be used for personal, professional and commercial use. Smart speaker market in personal applications is likely to dominate the market due to the increasing usage of the devices in smart homes. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. North America is likely to hold a major share for the global Smart Speaker market over the forecast period.
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