Press release
Smart Sound and Gateway Market Analysis, Key Company Profiles, Types, Applications And Forecast To 2030
Smart Sound and Gateway Market Report 2022 To 2030 By Top Key Players, Types & Applications
Global Smart Sound and Gateway Market: Overview
A smart speaker is defined as a wireless device that offers a smart audio playback using several types of connectivity for additional functions.
Also, the main focus is on smart speakers with both display and non-display offerings. The devices that operate with a virtual assistant have been considered. Because of the high-speed internet and increased access to smartphones the global demand for smart speakers has risen over the forecast period.
Also, among the overall demand for digital voice assistants, overall market demand has been led by Google Assistant and Apple's Siri because of their penetration in the smartphone market.
Key Market Trends:
Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the rising consumer propensity toward connected devices. Also, the consumer demand for smartphones has increased at a significant rate.
Also, the smart speakers are projected to be the primary control devices of various smart home devices in the near future. The various prominent vendors in the market are looking to spread their presence in the segment and with this over the forecast period, the speakers with a display are projected to gain traction, as they can offer a centralized platform to control various other devices.
On the flip side, even the small news of security breach headline from a major vendor has influenced consumer decisions significantly. With addition to this, the security breaches in terms of data and passive listening has been the major concerns that have hindered the market growth over the forecast period.
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Segmental analysis of the Market:
Based on Virtual Assistant
• Alexa
• Google Assistant
• Siri
• Ali Genie
• Xiao AI
• Multiple Virtual Assistant Support Speakers
• Other Virtual Assistants
The Alexa segment has dominated the market growth over the forecast period. This is because it is one of the most commonly accepted, hands-free voice assistants that can be used for various purposes.
Based on Solution
• Smart Speaker
• Hearables
The smart speakers segment has dominated the market growth over the forecast period.
Asia Pacific is anticipated to amplify at a considerable CAGR
The Global Smart Sound and Gateway Market is segmented into 5 main regions namely, North America, Europe, Asia Pacific, South America, and Middle East and Africa. Among these, Asia Pacific has dominated the market growth over the forecast period. This is because of the low manufacturing costs achieved by local vendors, high rate of product innovation in the market, and increased domestic consumption among the various countries in the region.
Competitive Landscape:
Some of the prominent companies operating in the market are
• com Inc.
• Google LLC (Alphabet Inc.)
• Apple Inc.
• Alibaba Group Holding Limited
• Baidu Inc.
• Xiaomi Inc.
• Samsung Electronics Co. Ltd
• Sonos Inc.
• Bose Corporation
• Plantronics Inc.
Major questions answered in this report:
• What is the growth rate of the Global Smart Sound and Gateway Market?
• What are the primary growth determinants of the market?
• Which are the major regions constituting the geographical landscape of the market?
• Which are the prominent companies operating in the market?
Key takeaways from the report:
• The Global Smart Sound and Gateway Market is projected to expand at a CAGR of 29.2% over the forecast period.
• The rising consumer propensity toward connected devices is aiding market progression.
• The Alexa segment is poised to expand significantly over the forecast period.
• Asia Pacific has dominated the regional market sphere over the forecast period.
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