Press release
Smart Speaker Market Set for Huge Growth in the Near Future - Alibaba Group, Amazon, Apple, Baidu, Inc., Google, HARMAN International, Lenovo, LG Electronics, Panasonic, Pioneer Electronics, SK Telecom, Sonos, Inc., Sony and Xiaomi Technology
Smart Speaker Market is set to exceed USD 30 billion by 2024. The smart speaker market is expected to witness a surging demand due to the increasing demand for personalization. The majority of early adopters of these devices are affluent, educated millennials. However, the devices are gaining traction among other demographic groups such as young gen X and children. These devices allow a high degree of personalization that appeals to consumers, propelling the smart speaker market growth.Get Sample Copy of This Report @ www.gminsights.com/request-sample/detail/1757
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Alibaba Group
• Altec Lansing
• Amazon
• Apple
• Baidu, Inc.
• HARMAN International
• Lenovo
• LG Electronics
• Libratone
• Mobvoi 出门问问
• Mojo Networks, Inc.
• Onkyo Corporation
• Panasonic
• Pioneer Electronics
• SK Telecom
• Sonos, Inc.
• Sony
• Ultimate Ears
• Xiaomi Technology
The industry is characterized by the presence of a large number of players with intense competition. In addition to the existing players, several new players are taking initiatives to enter the market. For instance, in February 2018, Samsung Electronics announced that it will launch a Bixby-powered intelligent device by December 2018. With the introduction of these devices, the company is planning to compete with products such as HomePod and Google Home.
Increasing concerns regarding compatibility are expected to restrain the smart speaker market. The new devices, such as Sonos One and Samsung Bixby, are facing compatibility issues with devices such as Belkin’s WeMo range of switches, Philips Hue, and LIFX. Several devices and standards only support one system. For instance, Google Home is not compatible with the Amazon Fire TV and Amazon Echo is not compatible with Casting technology by Google. This will restrict the smart speaker market demand over the forecast timespan.
Make an Inquiry for purchasing this Report @ www.gminsights.com/inquiry-before-buying/1757
Advertising on these devices will propel the growth of smart speaker market over the next few years. Businesses are increasingly experimenting with advertising via these devices due to their increasing popularity. Several companies, such as Burger King, VoiceLabs, and Oprah’s Favorite Things, have debuted on the IVA-enabled devices. The companies are implementing several policies to regularize the advertising on these devices. For instance, a policy by Amazon allows music services, such as Pandora and Spotify, to advertise on the platforms.
The increasing usage of IVAs in the healthcare industry is expected to open new growth opportunities to the smart speaker market. These devices will be incorporated in the patient’s room in hospitals that will allow the patients to forward updates and requests to doctors and nurses through voice controls. The integration of these devices with platforms, such as building management systems, will allow the adjustment of window blinds and lighting. Several organizations are partnering with technology giants to develop such devices with advanced security. For instance, the Thomas Jefferson University Hospitals and IBM are jointly developing smart speakers that respond to a set of specific voice commands.
Browse Report Summery @ www.gminsights.com/industry-analysis/smart-speaker-market
The Germany smart speaker market will witness a growth to reach over USD 3 billion by 2024 due to an increasing use of home automation in the country. Several players in the country are developing these devices to cater to the exponentially increasing requirements of the consumers. For instance, researchers at the Fraunhofer Institute for Digital Media Technology are playing a vital role in the development of these devices by designing a combination of loudspeakers and microphones for smart voice control.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Smart Speaker Market Set for Huge Growth in the Near Future - Alibaba Group, Amazon, Apple, Baidu, Inc., Google, HARMAN International, Lenovo, LG Electronics, Panasonic, Pioneer Electronics, SK Telecom, Sonos, Inc., Sony and Xiaomi Technology here
News-ID: 1637641 • Views: …
More Releases from Electronics and Media Industry

Private LTE Market to Reach 11 Billion USD by 2024| By Key Vendors: Nokia, Qualc …
North America private LTE market is estimated to hold the largest market share of over 40% by 2024 due to the growing need for high-speed and low latency network for mission-critical communications and industrial IoT applications. For instance, in June 2017, Redline and Future Technologiespartnered to offer Redline’s mobile LTE product line to the military customers of Future Technologies. Under the partnership, both the companies executed their commercial LTE pilot…

What will be the Advancements in Molded Interconnect Devices Market Detail Analy …
The Molded Interconnect Devices Market is projected to witness a strong growth across consumer device applications owing to the ability of the devices to integrate numerous electrical and mechanical functions, reduce circuit density, and facilitate miniaturization of the products. The devices require fewer auxiliary components, thereby saving considerable costs and driving the industry growth. Low failure ratio and high reliability of these devices can be attributed to the existence of…

New Trends and Advancements In The Semiconductor Memory Market | Intel, Toshiba, …
Semiconductor Memory Market is anticipated to reach USD 730 billion by 2024. Rapidly increasing implementation of IoT technologies across all industry verticals is a major factor supporting the development of semiconductor memory market. The technical innovations pose a high demand for components such as sensors, microcontrollers, stroage, and connectivity solutions. As a result, the storage capabilities are evolving to address the high requirements of IoT-based products.
Get Sample Copy of This…

What will be the Future Growth Opportunities in UHD/4K Panel Market - AUO, BOE T …
UHD/4K Panel Market is expected to reach USD 44.41 billion by 2024. Rapid technological advancements are likely to result in the incorporation of several value-added features in these components. Furthermore, the advent of economical products may offer 4K panel market with potential growth avenues over the forecast timeline.
Get Sample Copy of This Report @ www.gminsights.com/request-sample/detail/724
Major industry players include AUO, BOE Technology Group Co., Ltd., Hisense Group, Innolux, Philips,…
More Releases for Smart
Smart Cities Market is Expected to Witness CAGR of 17.3% by 2027 with Applicatio …
A smart city is an urban unit or area that uses various types of electronic Internet of Things (IoT) devices to collect data and then use the insights to manage resources, assets, and services effectively. Green building is a growing trend in the global smart cities market. Constructing eco-friendly infrastructure facilities can provide a sustainable environment in the cities. Moreover, governments are focused on constructing energy-efficient buildings, in order…
Internet of Things (IoT) Devices Market By Type (Computing Devices, Smart Media, …
On a global scale, the Internet of Things (IoT) Devices market is currently showing significant development. The innovative methods and market study have helped many of the major players Samsung Electronics, Apple, Lenovo, ASUS, Acer, Huawei, Coolpad, LG Electronics, Google, Panasonic, Microsoft, Brother Industries, Honeywell, Fitbit, Lenovo to carve a name for themselves in the competitive global market. The Internet of Things (IoT) Devices market is experiencing a massive growth…
Global Smart Cities Market by Component (Hardware, Software) by Application (Sma …
Global Smart Cities Market: Overview
The global smart cities market is expected to reach a mark of over USD 3000 billion by 2024, at a CAGR over 21% during the forecast period. Significant growth in next-generation technologies such as artificial intelligence AI, personalized healthcare, sustainable energy generation and robotics are driving the smart cities’ future. Moreover, the increase in residential preference towards the adoption of advanced information and communication technologies ICT…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands also has great examples of emerging…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
The global smart city transformation is underway
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands…
Smart Kitchen Appliances Market ( Smart Refrigerators, Smart Dishwashers, Smart …
The rising demand for smart kitchen appliances is linked to their premium design that offers better effectiveness and more comfort than their traditional counterparts. With energy efficiency at its core, the global market for smart kitchen appliances is expected to surge at a robust pace in the near future.In a report titled “Smart Kitchen Appliances Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022,” Transparency…