The global Smart Speaker Market size is expected to reach USD 25.2 Billion in 2028 and register a CAGR of 17.3%, according to the latest report by Reports and Data. High penetration of Artificial Intelligence (AI) and Internet of Things (IoT), technological advancements, and increasing demand and usage of smartphones, tablets, laptops, and internet are key factors driving global market revenue growth.
A smart speaker is a wireless speaker equipped with voice recognition and virtual assistance that provides hands-free services and interactive actions. Smart speakers can be connected via Bluetooth or Wi-Fi and perform various activities such as play music, provide weather forecasts, list day to day activities, give an update on news, and control other home automation devices. Increasing investments to develop more enhanced products, rising per capita income especially among the developing countries, high demand for multifunctional devices, and rising inclination towards advanced products are key factors fueling global market growth. In addition, advancements in Natural Language Processing (NLP) and increasing focus of key manufacturers introduce a variety of products is expected to boost global market growth going ahead.
However, factors such as rising concerns about privacy and security, possibility of exploitation of private user data, and unaffordable prices of smart speakers for people in the developing economies are key factors that are expected to hamper global market revenue growth in the coming years.
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Key highlights in the report:
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For this study, Reports and Data has segmented the smart speaker market based on component, IVA, application, end-use, and region:
Component Outlook (Revenue, USD Billion, 2018 – 2028)
Intelligent Virtual Assistant (IVA) Outlook (Revenue, USD Billion, 2018 – 2028)
Application Outlook (Revenue, USD Billion, 2018 – 2028)
End Use Outlook (Revenue, USD Billion, 2018 – 2028)
Regional Outlook (Revenue, USD Billion, 2018 – 2028)
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Table of Content:
Highlights of the TOC:
Chapter 1. Market Synopsis 1.1. Market Definition 1.2. Research Scope & Premise 1.3. Methodology 1.4. Market Estimation Technique Chapter 2. Executive Summary 2.1. Summary Snapshot, 2019-2027 Chapter 3. Indicative Metrics Chapter 4. Smart Speaker Market Segmentation & Impact Analysis 4.1. Market Material Segmentation Analysis 4.2. Industrial Outlook 4.2.1. Market indicators analysis 4.2.2. Market drivers analysis 4.2.3. Market restraints analysis 4.3. Technological Insights 4.4. Regulatory Framework 4.5. ETOP Analysis 4.6. Porter’s Five Forces Analysis 4.7. Competitive Metric Space Analysis 4.8. Price trend Analysis 4.9. Customer Mapping Chapter 5. Competitive Landscape 5.1. Market Revenue Share By Manufacturers 5.2. Manufacturing Cost Breakdown Analysis 5.3. Mergers & Acquisitions 5.4. Market positioning 5.5. Strategy Benchmarking 5.6. Vendor Landscape
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