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Smart Speaker Market| Top Key Players- Amazon.com, Inc., Apple, Inc., Alibaba Group, Alphabet Inc. (Google Inc.), Sonos, Inc., Bose Corporation, Xiaomi, Samsung Electronics Co. Ltd

05-21-2019 02:18 PM CET | Fashion, Lifestyle, Trends

Press release from: KD Market Insights

Smart Speaker Market| Top Key Players- Amazon.com, Inc., Apple,

A Comprehensive research study conducted by KD Market Insights on "Smart Speaker Market by Intelligent Virtual Assistant (Amazon Alexa, Google Assistant, Siri, Cortana, and Others), End User (Personal and commercial), Distribution Channel (Online and offline), and Price (Low, Mid, and Premium) - Global Opportunity Analysis and Industry Forecast, 2018-2025" report offers extensive and highly detailed historical, current and future market trends in the global and regional/market. The Smart Speaker Market report includes market size, growth drivers, barriers, opportunities, trends and other information which helps to find new opportunities in this market for the growth of the business through new technologies and developments.

Smart speaker is a speaker that can be activated by an intelligent virtual personal assistant. Any consumer majorly uses this device to listen to music and ask questions related to any problems, and control smart home devices. The smart speaker market has witnessed significant growth over two years, since its inception, owing to increase in technological awareness and rise in usage of smart home devices.

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

There is an increase in the purchase of smart speakers owing to the rise in technological awareness among the consumers. Amazon Echo is projected to continue to evolve with integration of more skills and features and would reach to even more customers in the near future. Thus, continuous advancement of smart speakers and its expansion in various regions around the globe are expected to boost the growth of the market during the forecast period.

With the rise in usage of smart phones and smart home devices, smart speakers witness an increase in growth rate owing to the compatibility with smart home devices. Also, smart speakers exhibit a great potential to bridge the digital divide. Most of the people, especially in the underdeveloped countries are not computer savvy. The mobile revolution outpaced the computer revolution in India as smart phones provide ease of use with greater utility. Similar to the smart phone revolution, the smart speaker market is expected to grow significantly in the developing regions of Asia-Pacific because of the ability to perform multiple functions and the availability at an affordable price range. The companies such as Amazon and Google are partnering with smart home manufacturers to provide ease of access to different smart home devices. The major restraint that affects the expansion of smart speakers by the major players in smart speaker market includes the localization demands of the consumers. Localization of intelligent virtual assistants, which includes the ability of the assistants to speak in different local languages, poses a great challenge to the smart speaker manufacturers. The complex process of language understanding and translation, speech recognition for the languages, including dialects and variations in accent, addition of local knowledge or culture to the system (local music, local retail markets, news, celebrities, and jokes), and spoken language generation requires a lot of resources for the manufacturers. As a result, the companies are partnering with the local players in the field of artificial intelligence to create a suitable product for the local markets.

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., and Baidu Inc. and Plantronics, Inc. (Altec Lansing/AL Infinity, LLC). The companies adopt innovative ideas, invest on advertisements across digital & print media, and increase the participation or development of other players such as Lenovo, SK Telecom, and others. These factors fuel the market competition and growth. Recently, Lenovo introduced The Lenovo smart display powered by the Google assistant in mid-2018. It combines the broad usefulness of a smart speaker with bright, large visual results that enable faster and more efficient form of user interaction.

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Table of Contents:

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.2.3. Top winning strategies
3.3. Porters five forces analysis
3.3.1. Moderate to High bargaining power of suppliers
3.3.2. Moderate-to-high threat of new entrants
3.3.3. High threat of substitutes
3.3.4. Moderate to high intensity of rivalry
3.3.5. Moderate to high bargaining power of buyers
3.4. Market share analysis (2017)
3.5. Market dynamics
3.5.1. Drivers
3.5.1.1. Proliferation of smart home devices.
3.5.1.2. Increasing demand for multifunctional devices.
3.5.1.3. Rise in disposable income and greater inclination towards technological products among millennials
3.5.2. Restraint
3.5.2.1. Privacy and security concern
3.5.2.2. Localization of languages
3.5.3. Opportunities
3.5.3.1. Establishment of 5G infrastructure
3.5.3.2. Advancement of Natural Language Processing (NLP)

CHAPTER 4: SMART SPEAKER MARKET, BY INTELLIGENT VIRTUAL ASSISTANT
4.1. Overview
4.2. Amazon Alexa
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market analysis, by country
4.3. Google Assistant
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market analysis, by country
4.4. Siri
4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market analysis, by country
4.5. Cortana
4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast, by region
4.5.3. Market analysis, by country
4.6. Others
4.6.1. Key market trends, growth factors, and opportunities
4.6.2. Market size and forecast, by region
4.6.3. Market analysis, by country
CHAPTER 5: SMART SPEAKER MARKET, BY END USER
5.1. Overview
5.2. Personal
5.2.1. 5.2.1 Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market analysis, by country
5.3. Commercial
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market analysis, by country

CHAPTER 6: SMART SPEAKER MARKET, BY DISTRIBUTION CHANNEL
6.1. Overview
6.2. Online
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market analysis, by country
6.3. Offline
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market analysis, by country

CHAPTER 7: SMART SPEAKER MARKET, BY PRICE RANGE
7.1. Overview
7.2. Low (0$ to 100$)
7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast, by region
7.2.3. Market analysis, by country
7.3. Medium (101$ to 200$)
7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast, by region
7.3.3. Market analysis, by country
7.4. Premium (Above 200$)
7.4.1. Key market trends, growth factors, and opportunities
7.4.2. Market size and forecast, by region
7.4.3. Market analysis, by country
Continue…

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About Us:

KD Market Insights offers a comprehensive database of syndicated research studies, customized reports, and consulting services. These reports are created to help in making smart, instant and crucial decisions based on extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Our dedicated in-house team ensures the reports satisfy the requirement of the client. We aim at providing value service to our clients. Our reports are backed by extensive industry coverage and is made sure to give importance to the specific needs of our clients. The main idea is to enable our clients to make an informed decision, by keeping them and ourselves up to date with the latest trends in the market.

Contact Us:

KD Market Insights
150 State Street, Albany,
New York, USA 12207
+1 (518) 300-1215
Email: sales@kdmarketinsights.com
Website: www.kdmarketinsights.com

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