Global Smart Home Digital Assistant Market to Expand at 17% CAGR Through 2030

The Global Smart Home Digital Assistant (Voice) Market is poised for significant growth, driven by the surge in at-home activities and the need for touchless interactions amidst the COVID-19 pandemic. As people spend more time at home, the demand for smart home speakers has skyrocketed, creating a lucrative opportunity for companies in the smart home digital assistant market. Analysts at Transparency Market Research forecast the market to reach a valuation of over USD 13.5 billion by 2030, expanding at a CAGR of approximately 17% from 2020 to 2030.

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Rising Demand for Voice-Enabled Devices
With increased concerns over hygiene and minimizing the transmission of COVID-19 pathogens, voice-enabled devices have gained popularity for their touchless operation. Companies are capitalizing on this trend by enhancing the availability of smart home devices, such as smart locks and connected video doorbells, to reduce face-to-face interactions. This shift towards hands-free technology is anticipated to drive a surge in global voice control device shipments in 2021.

Addressing Data Security Concerns
Tech giants Amazon and Google are at the forefront of innovation in voice-enabled devices. However, rising awareness about data security and privacy has prompted companies to develop features that automatically delete user recordings routinely. This addresses consumer concerns about how data is collected and shared, thereby boosting trust and adoption of these devices.

Innovations and Individualized User Experiences
Manufacturers are focusing on providing more personalized and user-centric experiences to stand out in the competitive market. Emerging players like Samsung Bixby and Microsoft Cortana are integrating voice technology with other household products, enhancing compatibility with refrigerators, thermostats, and more. These custom devices cater to specific user needs and open new avenues for voice-based advertising, as many users now conduct voice searches through mobile apps.

Growth in On-the-Go Entertainment and News Consumption
The demand for on-the-go entertainment, including podcasts and music streaming, continues to bolster the smart home digital assistant market. Companies like Sonos One are striving to surpass competitors by offering superior sound quality and advanced voice assistance. Additionally, AI advancements are playing a crucial role in enhancing user experiences with smart home speakers.

Combining Voice and Visual Capabilities
Manufacturers are now merging voice and visual displays to provide a seamless user experience. This innovation allows users to interact with devices more intuitively, facilitating tasks such as finding local movie times, booking travel tickets, and managing daily schedules. Voice payments are also gaining traction, with enhanced security features ensuring safe transactions.

Regional Outlook and Market Segmentation
North America currently leads the market, but Asia Pacific is expected to dominate by the end of the forecast period. The market is segmented by product (Amazon Alexa, Google Assistant, Apple Siri, etc.), operating system (iOS, Android, Windows), and type (app-based and product-based voice assistance)

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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