Smart Speaker Market is expected to grow USD 15.6 billion by 2025, at a CAGR of 17.1% | Amazon, Inc (Amazon) (US), Apple Inc. (Apple) (US), Alphabet Inc (Alphabet) (US), Baidu, Inc (Baidu) (China), Alibaba Group etc.

Request a sample on this latest research report @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=3341352

Key Players: Amazon, Inc (Amazon) (US), Apple Inc. (Apple) (US), Alphabet Inc (Alphabet) (US), Baidu, Inc (Baidu) (China), Alibaba Group (Alibaba) (China), Lenovo Group Ltd. (Lenovo) (China), and Xiaomi Inc. (Xiaomi) (China) are a few key players in the smart speaker market.

“Smart Speaker market to grow at CAGR of 17.1% from 2020 to 2025”

The global smart speaker market size is expected to grow from USD 7.1 billion in 2020 to USD 15.6 billion by 2025, at a CAGR of 17.1%. The growth of the market can be attributed to the growing demand for smart speaker display, increasing number of smart homes, rising disposable income, and rapid proliferation of multifunctional devices. However, high security risk and availability of substitutes could pose challenges for the smart speaker market growth.

“DuerOS to register the highest CAGR during the forecast period.”

Baidu’s current smart devices and new additions all use the company’s DuerOS assistant. DuerOS can support a wide range of hardware devices, such as mobile phones, televisions, speakers, household appliances, automobiles, and robots. The DuerOS smart speaker solution is a customized voice solution for audio output devices with or without a screen.

“Hardware to hold the largest share of the smart speaker market throughout the forecast period”

Hardware constitutes a major portion of the smart speaker. Currently, smart speakers process a small volume of data, which requires a hardware platform with computing capabilities to support basic functions, such as streaming music, surfing for information, making phone calls, and controlling smart devices.

“The smart speaker market in APAC expected to grow at the highest CAGR during the forecast period”

The increasing penetration of smart devices in APAC countries, along with the growing market share of Chinese players such as Baidu, Alibaba, and Xiaomi, who have launched smart speakers with local language support, is expected to fuel the demand for smart speakers in the region.

Research Coverage:

The study covers the smart speaker market. It aims at estimating the size and growth potential of this market across different segments. The study also includes an in-depth competitive analysis of key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Feel free to ask your queries at https://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=3341352

+ 1 888 391 5441
sales@reportsandreports.com

ReportsnReports.com is your single source for all market research needs. Our database includes 500,000+ market research reports from over 95 leading global publishers & in-depth market research studies of over 5000 micro markets.

This release was published on openPR.