Global Smart Speaker Market, By Intelligent Virtual Assistance (Alexa, Google Assistance, Siri, Dueros, Aligenie, Xiao Ai, and Others), Component (Hardware and Software), Application (Smart Home, Consumer, Smart Office and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2027
Smart speaker market is expected to grow at a CAGR of 22.9% in the forecast period of 2020 to 2027. Data Bridge Market Research report on smart speaker market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Smart speakers are wireless speaker which is enabled with Bluetooth, Wi-Fi, or other wireless protocols. This smart speaker is driven by artificial intelligence (AI) which is powered by the intelligent virtual assistance. Smart speakers are one of the latest innovations which dominates the consumer electronics sector and it is activated by voice command to perform various activities like order food, online shopping, listen to music, weather forecasting, latest news, and day to day activities.
Rise in the number of smart homes, growing trend of smart speakers along with display feature and rapid increase in disposable income are the factors driving the growth of the smart speaker market. Various issues related to connectivity range, power, and compatibility and availability of substitutes are the factors restraining the smart speaker market. Increasing preference of consumers for technologically advanced products acts as an opportunity. High-security risk is one of the challenges faced by the smart speaker market.
This smart speaker market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on smart speaker market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Smart Speaker Market Scope and Market Size
Smart speaker market is segmented on the basis of intelligent virtual assistance, component and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of intelligent virtual assistance, smart speaker market is segmented into Alexa, Google Assistance, Siri, Dueros, Aligenie, Xiao Ai, and others.
- Based on component, smart speaker market is segmented into hardware and software. Hardware is sub-segmented into processor, memory, power IC, connectivity IC, microphone, speaker driver, audio IC and others.
- Based on application, smart speaker market is segmented into smart home, consumer, smart office and others.
Smart Speaker Market Country Level Analysis
Smart speaker market is analysed and market size, volume information is provided by country, intelligent virtual assistance, component and application as referenced above.
The countries covered in the market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America will dominate the smart speaker market because of the presence of early adopters and providers of key smart speaker. The willingness of customers to use new technologies has also encouraged manufacturers in the region to develop new and advanced products.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Speaker Market Share Analysis
Smart speaker market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to smart speaker market.
The major players covered in the smart speaker market report are Amazon, Inc, Harman International, Apple Inc., Sonos, Alphabet Inc, Baidu, Inc, LLC, Bose Corporation, Sony Corporation, Onkyo Corporation, Samsung Electronics, Panasonic Corporation, Alibaba Group, Altec Lansing, Lenovo Group Ltd., Xiaomi Inc., SK Telecom Co., Ltd., Facebook, Pioneer Corporation and LG Electronics among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Smart Speaker Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.