Smart Speaker Market Key Player Growth Analysis On Amazon.com, Inc., Bose Corporation, Altec Lansing, Apple Inc., Samsung Electronics, Logitech International SA

The Global Market for Smart Speaker to 2024 offers detailed coverage of Smart Speaker industry and presents main market trends. The market research gives historical and forecast market size, demand and production forecasts, end-use demand details, price trends, and company shares of the leading Smart Speaker producers to provide exhaustive coverage of the Smart Speaker.

Smart Speaker Market is set to exceed USD 30 billion by 2024 owing to the several benefits of these devices such as the ability to communicate with other devices and keeping users connected to the internet. For instance, these devices can perform a range of tasks such as giving information, sharing audio files, and provide on-command to other connected devices.

The increasing penetration of IoT technology and the adoption of connected devices will boost the smart speaker market growth in the next six years. The increasing popularity of connected devices to perform domestic tasks, such as controlling lights and security doors, through single devices is fueling the industry demand. The integration of these devices with connected households will propel the industry growth.

This report focuses on the top Manufacturers and players in global market are given bellow:-
Amazon.com, Inc., Bose Corporation, Altec Lansing, Apple Inc., Samsung Electronics, Logitech International SA, Sonos Inc., and Sony Corporation.

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The smart speaker market is expected to grow at a significant pace over the forecast timeframe owing to the growing proliferation of smart homes across the globe. Factors such as high network connectivity and growing need to increase consumer convenience are anticipated to drive the market. Several device manufacturers are investing in improving the functionality of legacy systems beyond playing music. This, coupled with increasing demand for wireless devices will escalate the industry size.

Smart Speaker Market Size By Technology (Bluetooth, Wi-Fi, NFC), By Product (Single Room, Double-Room, Multi-Room)

Market Segment by Regions, regional analysis covers

(U.S., Canada, Germany, UK, France, Italy, South Korea, China, India, Japan, Brazil, GCC, Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

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The study objectives of this report are:

Rise in demand for Internet of Things (IoT) is expected to fuel the smart speaker market growth. The manufacturers are increasingly investing to develop devices that work with the devices such as Wink Hub, Logitech Harmony Elite, and Philips Hue Bulbs. For instance, Amazon Alexa works directly with several smart home devices using If This Then That (IFTTT) methodology.

Implementation of virtual personal assistants are expected to positively impact the smart speaker market growth. This technology can stream music and audio books with a single voice commands. The launch of Amazon Echo has caused disruption in the market, with several other companies such as Google and Apple following suit. For instance, Apple has announced the launch of HomePod in December 2017.

Factors such as connectivity range, compatibility, and power are expected to restrain the smart speaker market growth. The market faces growing security concern, owing to the connection of these devices to the internet. The voice assistant-enabled speakers inadvertently store consumers' private data into Amazon servers. The threats of hacking and data leaks persist, though the company claims that the data is secured. This is expected to hamper the market growth during the forecast timeframe.

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