Press release
Top significant factors that drives the growth of the smart speakers market
The Global Smart Speaker Market size was valued at $4,358 million in 2017, and is projected to reach $23,317 million by 2025, registering a CAGR of 23.4% from 2018 to 2025. North America constituted the highest smart speaker market share of 36.9%. The smart speaker market growth rate is highest in Asia-Pacific delivering a CAGR of 24.93%.
Increase in demand for smart home devices is the significant factor that drives the growth of the smart speakers market. Other factors, which influence the market growth are increase in consumer readiness to invest on trending technologies and rise in usage of smart devices among the younger generation.
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Top Impacting Factors:
• Advancement in Natural Language Processing (NLP)
• Establishment of 5G Infrastructure
• Localization of Languages
• Privacy and Security Concern
• Increase in Demand for Multifunctional Devices
• Rise in Disposable Income & Greater Inclination Toward Technological Products
• Proliferation of Smart Home Devices
Market Segmented by Region:
• North America
• Europe
• Asia-Pacific
• Asia-Pacific
Key Benefits for Stakeholders
• This study comprises of the analytical depiction of the global smart speaker market analysis along with current trends and future estimations to depict the imminent investment pockets.
• The overall smart speaker market potential is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities of smart speaker industry with a detailed impact analysis.
• The current smart speaker market is quantitatively analyzed from 2017 to 2025 to benchmark the financial competency.
• Porter’s Five Forces analysis illustrates the potency of the buyers and suppliers in the smart speaker industry.
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The key players operating in the smart speaker market include Amazon.com, Inc., Apple, Inc., Alibaba Group, Alphabet Inc. (Google Inc.), Sonos, Inc., Bose Corporation, Xiaomi, Samsung Electronics Co. Ltd., Baidu Inc., and Plantronics, Inc. (Altec Lansing/AL Infinity, LLC). Among the companies, Amazon.com, Inc. captured the highest smart speaker market size.
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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.
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