Press release
Smart Speaker Market worth 11.79 Billion USD by 2023| Key Players Include Amazon, Google, Apple, and Bose.
MarketsandMarkets? INC.
The smart speaker market has huge potential across applications such as smart home, smart office, consumer, and automotive. Major factors driving the smart speaker market are increasing number of smart homes, rising disposable income, rapid proliferation of multifunctional devices, and growing trend of personalization.
Browse 71 market data Tables and 47 Figures spread through 150 Pages and in-depth TOC on "Smart Speaker Market - Global Forecast to 2023"
https://www.marketsandmarkets.com/Market-Reports/smart-speaker-market-44984088.html
Market Dynamics
Smart Speaker Market, Drivers
• Increasing number of smart homes
• Rising disposable income
• Rapid proliferation of multifunctional devices
• Growing trend of personalization
Restraints
• Issues related to connectivity range, compatibility, and power
Smart Speaker Market, Opportunities
• Increasing consumer preference for technologically advanced products
• Increasing focus of companies on enhancing customer experience
Challenges
• High security risk
• Availability of substitute
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The shipping segment is projected to grow at the highest CAGR during the forecast period.
Based on solution, the shipping segment of the drone logistics and transportation market is projected to grow at the highest CAGR from 2022 to 2027. Drones can be used to transport a wide range of products, from small packages to medical supplies and food, among others. A lot of investments has been seen in the delivery drone industry by venture capitalists to commercialize the industry. Companies such as Amazon, Google, and Walmart are also engaged in research and development activities to commercialize the use of drones for delivery.
The commercial segment is projected to grow at a higher CAGR during the forecast period.
Based on sector, the drone logistics and transportation market has been segmented into commercial and military. The commercial segment is projected to witness a higher growth rate during the forecast period. Rising interest in the use of unmanned aerial vehicles (UAVs) or drones for the delivery of packages has led to huge investment by venture capitalists in this field. A number of logistics companies, such as UPS and DHL, are looking into using drones for logistics applications. Relaxation of restrictions imposed on the commercial use of UAVs is expected to drive the growth of the drone logistics and transportation market for commercial drones.
The 10kg (Delivery Drones) segment is estimated to lead the drone logistics and transportation market in 2022.
Based on cargo weight, the 10kg (Delivery Drones) sub segment of freight drones segment is estimated to lead the drone logistics and transportation market in 2022. As technology innovations continue, such as dual GPS modules, sense & collision avoidance, dual batteries, and dual flight controllers, the cost of drones is expected to decrease gradually, making drones an even more attractive mode of transporting items.
North America is projected to be the fastest-growing market for drone logistics during the forecast period.
The drone logistics and transportation market in the North America region is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the high demand for UAVs from the commercial and military sectors of countries in the region, such as the US and Canada. The military budgets of the aforementioned countries are increasing on a yearly basis, which has subsequently led to the adoption of military UAVs, as they can assist in the delivery of heavy payloads.
Key players operating in the drone logistics and transportation market include PINC Solutions (US), CANA Advisors (US), Drone Delivery Canada (Canada), DroneScan (South Africa), Hardis Group (France), Infinium Robotics (Singapore), Matternet (US), and Workhorse Group (US).
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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
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Mr. Shelly Singh
MarketsandMarkets™ INC.
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USA: 1-888-600-6441
sales@marketsandmarkets.com
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