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Innovation in Smart Speaker Market Driving By Intelligent Virtual Assistant like Top Key Players Amazon, Google, Apple, Harman International Industries, Panasonic Corporation, Sonos, Sony, LG Electronics, Logitech International, Samsung Electronics

02-26-2019 09:44 PM CET | Media & Telecommunications

Press release from: The Research Insights

Smart Speaker Market

Smart Speaker Market

Smart speaker is a wireless speaker enabled by Bluetooth, Wi-Fi, or other wireless protocols and powered by virtual assistant, which is driven by artificial intelligence. It is the latest technological innovation dominating the consumer technology market and is activated by a voice command to perform different tasks such as listening to music, ordering food, and online shopping. It also performs other activities, such as obtaining weather information, latest news, listing day to day activities, and integrating with the smart home appliances. These multiple features provide an edge to smart speaker market over other substitute technological products and services. Driven market by Intelligent Virtual Assistant (Amazon Alexa, Google Assistant, Siri, Cortana, and Others)

Global Smart Speaker market research analysts have predicted that the Smart Speaker market will register a CAGR close to +34% by 2026.

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Top Companies Profiled in this Report includes:
• Amazon
• Google Inc.
• Apple Inc.
• Harman International Industries
• Panasonic Corporation
• Sonos Inc.
• Sony Corporation
• LG Electronics Inc.
• Logitech International S.A.
• Samsung Electronicsothers.

Increased implementation of IoT, smartphones, and other wireless technology among the potential customers have driven the smart speaker market growth. Increasing number of smart homes due to rise in per capita income is another factor boosting market growth. Similarly, additional structures such as GPS navigation, camera, digital assistance, gaming, etc. are further fueling the market growth. Furthermore, the welfares associated with smart speakers such as better audio technology and low energy consumption is again pushing the market growth demanding.

Innovation in microphones, automated speech recognition technology, and natural language processing (NLP) help the smart speaker to identify and process the voice command of the user with utmost precision. Amazon provides Amazon Echo powered by virtual assistant known as Alexa and Google provides Google Home powered by virtual Google assistant. These products lead the smart speaker market in terms of value and volume. The other players operating in the market include Apple, Alibaba, Sonos, and others.

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Market Driven:

Smart Speaker Market:
• Increasing number of smart homes
• Increasing disposable income
• Speedy proliferation of multifunctional devices
• Growing trend of personalization

Restraints:
• Concerns related to connectivity range, compatibility, and power

Smart Speaker Market, Prospects:
• Growing consumer preference for technologically advanced products
• Swelling focus of companies on enhancing customer experience

Challenges:
• High security risk
• Availability of substitute

Key highlights of the global Smart Speaker market for the forecast years 2019-2026:
• CAGR of the market during the forecast period 2019-2026
• Detailed information on factors that will accelerate the growth of the Smart Speaker market during the next five years
• Precise estimation of the global Smart Speaker market size and its contribution to the parent market
• Accurate forecasts on upcoming trends and changes in consumer behavior
• The growth of the Smart Speaker industry across various geographies such as the Americas, APAC, and EMEA
• A thorough analysis of the market’s competitive landscape and detailed information on several Smart Speaker
• Comprehensive details on factors that will challenge the growth of Smart Speaker

Finally, researchers throw light on manufacturers responsible for increasing the sales in the global Smart Speaker market. These producers have been inspected in terms of the manufacturing base, contact details, and competitors. The report describes the definitions, specification, and classification of the global Smart Speaker market.

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About us

The Research Insights – A global leader in analytics, research and advisory that can assist you to renovate your business and modify your approach. With us, you will learn to take decisions intrepidly. We make sense of drawbacks, opportunities, circumstances, estimations and information using our experienced skills and verified methodologies. Our research reports will give you an exceptional experience of innovative solutions and outcomes. We have effectively steered businesses all over the world with our market research reports and are outstandingly positioned to lead digital transformations. Thus, we craft greater value for clients by presenting advanced opportunities in the global market.

Contact us

The Research Insights
Robin
(Sales Manager)
+91-996-067-0000
sales@theresearchinsights.com
https://www.theresearchinsights.com/

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