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Global Smart Speaker Market: Predicted to Expand at a CAGR of 18.01 % during Forecast 2018-2026 || Key Players - Amazon.com Inc., Apple Inc., Harman International, Sonos Inc., Alibaba Group, and Xiaomi Inc.
MRRSE
The global smart speaker market is expected to reach US$ 18,472.1 Mn by 2026. The market is projected to expand at a CAGR of 18.01% during the forecast period from 2018 to 2026. According to the report, the global smart speaker market will continue to be influenced by a range of factors such as increasing number of companies proving highly advanced smart speakers around the globe, rising smart homes trend worldwide, and rising disposable income. The Asia Pacific will continue to be at the forefront of global demand, with the market in the region growing at above 19% through 2026.
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The report comprises a detailed value chain analysis which provides a comprehensive view of the global smart speaker market. Porter’s Five Forces model for the smart speaker market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
This research study on the global smart speaker market provides a detailed cross segment and cross-country analysis based on the different segments including components, mode of sale, application, and voice assistant type. Based on components, the market is segmented into hardware and software. Hardware component segment is further bifurcated into the processor, microphone, connectivity IC, audio system, and others. On the basis of mode of sale, the smart speaker market is bifurcated into online and offline mode of sale. Additionally, based on application, the market is divided into commercial and personal. In terms of voice assistant type, the market is segmented into Amazon Alexa, Google Assistant, Apple Siri, Microsoft Cortana, and others. Others segment includes the voice assistant system provided by the Alibaba Group and Xiaomi, Inc.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, national government documents, statistical databases, and market reports, Factiva, etc.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook, etc. These help us to validate and strengthen secondary research findings. These also help to develop the analysis team’s market expertise and understanding.
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The report profiles well-established players including Amazon.com, Inc., Apple, Inc., Harman International, Sonos, Inc., Alibaba Group, and Xiaomi, Inc. among others. These are some of the well-established players innovating novel smart speakers around the world to compete with other players. For instance, in April 2018, Google, Inc. announced its smart speaker named “Google Home Mini” powered by AI based voice assistant in India to compete with the smart speakers from Amazon.com, Inc. i.e. “Amazon Echo” and “Amazon Echo Dot.” For online selling of its smart speakers, Google, Inc. partnered with Flipkart and Reliance Digital, Croma, and other stores for brick and mortar selling. Furthermore, to beat the competition, the company used competitive offers and pricing i.e. Google Home Mini costs US$ 7.46 lesser than Amazon Echo Dot.
Global Smart Speaker Market
The Global Smart Speaker Market is segmented as Follows:
Global Smart Speaker Market, by Components
Hardware
Processor
Microphone
Connectivity IC
Audio System
Others
Software
Global Smart Speaker Market, by Mode of Sale
Online
Offline
Global Smart Speaker Market, by Application
Commercial
Personal
Global Smart Speaker Market, by Voice Assistant Type
Amazon Alexa
Google Assistant
Apple Siri
Microsoft Cortana
Others
Global Smart Speaker Market, by Geography
North America
The U.S.
Canada
Rest of North America
Europe
France
The U.K
Germany
Rest of Europe
Asia Pacific (APAC)
India
Japan
China
Rest of APAC
Middle East & Africa (MEA)
GCC Countries
South Africa
Rest of MEA
South America
Brazil
Rest of South America
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