Smart Speaker Market Set to Register 23.4% CAGR During 2018-2025 | Amazon.com, Apple, Alibaba Group, Alphabet (Google Inc.), Sonos, Bose Corporation, Xiaomi, Samsung Electronics Co., and Baidu and Plantronics

Smart Speaker Market by Intelligent Virtual Assistant (Amazon Alexa, Google Assistant, Siri, Cortana, and Others), End User (Personal and commercial), Distribution Channel (Online and offline), and Price (Low, Mid, and Premium)-Global Opportunity Analysis and Industry Forecast, 2018-2025

The global smart speaker market size was valued at $4,358 million in 2017, and is projected to reach $23,317 million by 2025, registering a CAGR of 23.4% from 2018 to 2025. North America constituted the highest smart speaker market share of 36.9%. The smart speaker market growth rate is highest in Asia-Pacific delivering a CAGR of 24.93%.

Smart speaker is a wireless speaker enabled by Bluetooth, Wi-Fi, or other wireless protocols and powered by virtual assistant, which is driven by artificial intelligence. It is the latest technological innovation dominating the consumer technology market and is activated by a voice command to perform different tasks such as listening to music, ordering food, and online shopping. It also performs other activities, such as obtaining weather information, latest news, listing day to day activities, and integrating with the smart home appliances. These multiple features provide an edge to smart speaker market over other substitute technological products and services.

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Companies Profiled in this report includes: Amazon.com, Inc., Apple, Inc., Alibaba Group, Alphabet Inc. (Google Inc.), Sonos, Inc., Bose Corporation, Xiaomi, Samsung Electronics Co. Ltd., and Baidu Inc. and Plantronics, Inc. (Altec Lansing/AL Infinity, LLC).

Advancement in microphones, automated speech recognition technology, and natural language processing (NLP) help the smart speaker to identify and process the voice command of the user with utmost precision. Amazon offers Amazon Echo powered by virtual assistant known as Alexa and Google provides Google Home powered by virtual Google assistant. These products lead the smart speaker market in terms of value and volume. The other players operating in the market include Apple, Alibaba, Sonos, and others.

Increase in demand for smart home devices is the significant factor that drives the growth of the smart speakers market. Other factors, which influence the market growth are increase in consumer readiness to invest on trending technologies and rise in usage of smart devices among the younger generation. Also, the development of partnerships between smart home manufacturers and creators of smart speakers enables smooth integration of smart home devices with the smart speaker. This proves to be a key factor in the adoption of smart speakers. However, with the use of smart speaker, privacy of users’ data becomes a major issue for the consumer demand. Smart speaker provides personalized service to its users by collection and analysis of the users’ data. The potential of exploitation of user’s private data by the manufacturers and the threat of illicit cyber-attacks to invade privacy restrict the demand for the smart speakers from the consumers. Also, complexity in training the virtual assistants with various languages spoken around the world limits the global reach of smart speakers.

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KEY BENEFITS FOR STAKEHOLDERS

This report provides an extensive analysis of the current and emerging market trends, and dynamics in the smart speaker market.

In-depth analysis is conducted by constructing market estimations for the key market segments between 2017 and 2025.

Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.

Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the global smart speaker market.

Table of Content:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW

CHAPTER 4: SMART SPEAKER MARKET, BY INTELLIGENT VIRTUAL ASSISTANT

CHAPTER 5: SMART SPEAKER MARKET, BY END USER

CHAPTER 6: SMART SPEAKER MARKET, BY DISTRIBUTION CHANNEL

CHAPTER 7: SMART SPEAKER MARKET, BY PRICE RANGE

CHAPTER 8: SMART SPEAKER MARKET, BY REGION

CHAPTER 9: COMPANY PROFILES

9.1. Amazon.com, Inc.

9.2. Samsung Electronics Co. Ltd.

9.3. Apple, Inc.

9.4. Alibaba Group Holding Limited

9.5. Alphabet Inc. (Google Inc.)

9.6. Sonos, Inc.

9.7. Bose Corporation

9.8. Xiaomi Inc.

9.9. Baidu, Inc.

9.10. Plantronics, Inc. (Altec Lansing/AL Infinity, LLC)

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Posted by on Monday September 23 2019, 2:15 AM EDT. All trademarks acknowledged. Filed under Business Services, Featured Press Release, Software & Services, Technology, Media, & Telecommunications. Comments and Trackbacks closed. Follow responses: RSS 2.0

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