North America Controls 90% of the Global Smart Voice-Assistant Speaker Market | Arizton

According to a recent report published by Arizton on global voice assistant speaker market, the rapid modernization and development of smart devices will augment the growth of the global smart voice assistant speaker market.

The most prominent smart voice-assistant speakers available in the global market are Siri (Apple), Alexa (Amazon), Google Assistant (Google), and Cortana (Microsoft). Factors such as increase in per capita GDP, rapid change in lifestyles in emerging markets, and a rapid increase in dual-income households in developed markets are attributing to the revenues in the global smart voice-assistant speaker market. The growing demand of these smart technology from emerging regions such as Latin America, the Middle East, Africa, Central and Eastern Europe, and APAC (excluding Oceania and Japan) will create lucrative opportunities for prominent players in the global market.

The global smart voice-assistant speaker market is projected to reach values of over $4.8 billion by 2022, growing at a CAGR of more than 30% during 2017-2022.

Read the full report on Smart Voice Assistant Speaker Market – Global Outlook and Forecast 2017-2022
https://www.arizton.com/market-reports/smart-voice-assistant-speaker-market

Smart Voice-Assistant Speaker Market in North America

The penetration of smart speakers is the highest in North America, and it contributes the maximum revenues in the global smart voice-assistant speaker market. For instance, about 13 million US households had purchased at least one smart voice-assistant speaker until December 2016. The exponential increase in the popularity of smart voice-assistant speakers among end-users is one of the primary reasons propelling the growth of the market in this region. The US occupies the majority of the market share in North America. Canada has not seen any official launch of smart voice-assistant speakers. However, Google Home is set to release in the Canadian market in the second half of 2017. After the recession and economic recovery, the North American market is witnessing an increase in purchasing power thereby, boosting the demand in the smart voice-assistant speaker market. The top companies are investing in the development of advanced technology that helps deliver high performance, is user-friendly, offer reliability, ease of installation, and convenience to end-users. Such initiatives will enable players to attract new consumers and gain a larger market share in the North American region. The North American smart voice-assistant speaker market is estimated to reach values of around $2.4 billion by 2022, growing at a CAGR of approximately 18% during the forecast period.

Factors Attributing to Growth of Smart Voice-Assistant Speaker Market in North America

Improving employment opportunities and increasing disposable income

High investment opportunities and availability of resources

The increasing awareness about smart devices and adoption of smart home technologies

Improved economic conditions boosted the per capita GDP in the US

Introduction of new models in the market as per the consumer’s lifestyle and preferences

Increasing brand visibility by distributing through electronics stores and home improvement retail stores

Growing popularity of smart devices and varied delivery options with the emergence of m-commerce

US Smart Voice-Assistant Speaker Market

The US dominated the smart voice-assistant speaker market in North America with its 100% market share in 2016. The continuous innovation and introduction of new product formats are the major factors propelling the growth of the US in the North American market. Key new entrants in the global smart voice-assistant speaker market are likely to be based in the US. The rapid increase in funding of R&D activities for the introduction of products which are designed to be lighter, smaller, and have differentiated functionalities will create new avenues for leading vendors in the US market. The online channel dominated the smart voice-assistant speaker market in North America compared to retail channels in 2016. However, retail sales will increase significantly due to increasing shelf-presence of these devices in retail stores such as Walmart, Target, and Best Buy during the forecast period. The online sales accounted for about 97% of the overall revenue generation for smart voice-assistant speakers in the US in 2016.

The key vendors in the smart voice-assistant speaker market are Alphabet (Google), Amazon, Beijing LingLong, Fabriq, Jam Audio, HARMAN, Invoxia, Lenovo, Mattel, Mycroft, NVIDIA, and Sony.

Read: Emerging Trends in the Global Smart Voice Assistant Speaker Market
https://www.arizton.com/news/press-release/smart-speaker-market

Read: Global Smart Voice Assistant Speaker Market Likely to Post CAGR of 43.7% in terms of Unit Shipment During 2016−2022
https://www.arizton.com/news/press-release/global-smart-voice-assistant-speaker-market-to-post-cagr-of-43-7-in-terms-of-unit-shipment

Order a report now: https://www.arizton.com/market-reports/smart-voice-assistant-speaker-market

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