Smart Speaker Market Top Key Players - Amazon Inc. (U.S), Harman International (U.S), Apple Inc. (U.S), Alphabet, Google Inc (U.S), Bose Corporation (U.S), Sonos (U.S), Alibaba (China), Lenovo (China), Baidu (China)
In the midst of the COVID-19 crisis, the global Smart Speaker market is estimated at US $ xx billion in 2020, will reach a modified size of US $ xx Billion by 2027 with a CAGR of xx% during the 2020-2025 analysis period. Alexa is expected to record the highest CAGR during the forecast period and occupy the largest share of the market. The impact of infectious diseases and the resulting economic crisis on business has also witnessed future growth in the Google sector.A smart speaker market is a wireless speaker powered by a virtual assistant powered by artificial intelligence, enabled by Bluetooth, WiFi, or other wireless protocols. This is the latest innovation dominating the consumer technology market, enabling voice commands to perform a variety of tasks, such as listening to music, ordering food or buying online.
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GLOBAL SMART SPEAKER MARKET DYNAMICS
• With the expected increase in demand for home entertainment, global platform vendors are launching new smart speakers and displays to ensure value and availability. The global smart speaker market is expected to become even stronger during the forecast period when developed markets are expected to recover and contribute to most of the market share.
• The main reason for the global surge in smart speaker market sales in 2019, especially in the fourth quarter, is strong promotional activity combined with brand new and innovative smart speaker product introductions. The global market laid the foundation for further growth in the market during the fastest-growing forecast period in the history of smart speaker sales.
• Factors such as increased disposable income, increased number of smart homes, increased urban population, increased spread of IoT devices, increased voice commerce, attractiveness of smart speaker Millennial, 5G connection setting, etc. can lead the market Expected.
GLOBAL SMART SPEAKER MARKET SEGMENTATION
By Intelligent Virtual Assistant
• Alexa
• Google Assistant
• DuerOS
• AliGenie
• Xiao AI
• Siri
• Others
By Component
• Hardware
• Software
By Application
• Smart Home
• Consumer
• Smart Office
• Others
By Region
• North America
• Europe
• APAC
• ROW
GLOBAL SMART SPEAKER MARKET DRIVERS
• Smart speakers are more complex than other smart devices because they understand how to speak naturally. Demand for smart homes and smart speakers has increased due to lifestyle changes, rising per capita income, and trends in smart home owners with advanced entertainment systems.
• Baidu, which launched smart speakers that support local languages, is seeing demand for smart speakers in the Asia-Pacific region as smart devices become more prevalent in APAC countries as Chinese companies like Alibaba and Xiaomi increase their market share Expected to increase area.
COMPETITIVE LANDSCAPE
The smart speaker market environment is based on survival of the fittest, as there are some of the prominent players in the industry that dominate the market, and competition is relatively in the Nopuumyoi sector. The industry is constantly innovating and introducing new applications to the market to solidify its presence in rapidly changing market scenarios.
COMPETITIVE LANDSCAPE
• Amazon Inc. (U.S)
• Harman International (U.S)
• Apple Inc. (U.S)
• Alphabet
• Google Inc (U.S)
• Bose Corporation (U.S)
• Sonos (U.S)
• Alibaba (China)
• Lenovo (China)
• Baidu (China)
• Panasonic Corporation
• Sony Corporation
• Ultimate Ears
• Xiaomi, Inc.
• Lenovo Group Ltd.
• LG Electronics Inc.
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