The global smart voice assistant speaker market will cross $4 billion by 2022

The global smart voice assistant speaker market will cross $4 billion, growing at an exceptional CAGR of more than 30% during the forecast period 2016-2022. Analysts at Arizton state that the high usage of voice assistants and voice first technology primarily drive the growth. The usage is expected to increase by over 21% in 2017. Also, the per capita income and increase spending in connected devices and smart homes are driving the global smart voice assistant speaker market.

View report: Smart Voice Assistant Speaker Market - Global Outlook and Forecast 2017-2022

https://www.arizton.com/reports/smarttech-market-analysis/smart-voice-assistant-speaker-market

Major Vendors included in the report are as followings

Alphabet (Google)
Amazon

The other prominent vendors in the smart voice assistant speaker market are Beijing LingLong, Fabriq, Jam Audio, HARMAN, Invoxia, Lenovo, Mattel, Mycroft, NVIDIA, Sony.

Other emerging vendors are Swan Solutions, Cubic Robotics, Silk Labs, Protonet, Interactive Voice, SPACO.

The report considers the crucial facts of the global smart voice assistant speaker market and provides the growth forecast for the period 2017–2022. It includes a detailed study of growth drivers, trends, and restraints.

The market size includes the sale of smart voice assistant speaker used by individuals for the home purpose only. It excludes the revenue generated from the sale of smart hubs. The report differentiates smart hubs from smart voice assistant speakers on the basis that smart hubs are compatible with a wide range of smart things as well as smart light bulbs, switches, and outlets.

The report provides the analysis of key segments of the market in terms distribution channel, geography, and vendors. It provides a detailed analysis of the revenue from the following segments:

Revenue
Shipment

Distribution Channels

Retail
Mass market players
Electronic stores
Online stores

Major Geographies

APAC
Europe
North America
RoW

The report includes leading trends, drivers, and restraints for each region.

Increased penetration in developed countries to drive the market

The global smart voice assistant speaker market is likely to witness an increase in revenue during the period 2016−2022. However, Arizton expects that the YoY growth will relatively slowdown continuously after that. The major reason being increased penetration of smart voice assistant speakers globally, especially in developed countries such as the US, Germany, and the UK. In 2016−2022, in value terms, the YoY growth of smart voice assistant speakers will be in double digits due to the high demand from North America and Europe coupled with the rise in awareness about these devices in developing countries of APAC and RoW.

Increasing popularity of voice-first technology and growing push for digital economy in developing economies are among the latest trends that are likely to drive the market growth. The usage of voice search is witnessing an unprecedented growth among consumers worldwide. There has been a sudden rise in the volume of voice searches in the recent past. Voice searches will have a large anticipated impact on the marketplace in terms of advertising, payment, and processing among others. Increasing dominance of voice searches demonstrates the ongoing widespread popularity of voice-first technology. With an increasing influx of these devices on the consumer mainstream household equipment category, the market is witnessing a major spurt in the demand for smart voice assistant speakers in the US and other parts of the world.

View report: Smart Voice Assistant Speaker Market - Global Outlook and Forecast 2017-2022

https://www.arizton.com/reports/smarttech-market-analysis/smart-voice-assistant-speaker-market

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https://www.arizton.com/reports/it-media/chatbot-market-global

About Arizton
Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

Arizton has gained a paramount standpoint in the market research arena as it offers top of the line solutions to clients to assess market landscape and to finalize foolproof business strategies. We are committed to provide inclusive market research reports and consulting services to clients from diversified industries including –Consumer Goods & Retail Technology, Automotive and Mobility, Smart Tech, Healthcare and Lifesciences, Industrial Machinery, Chemicals and Materials, IT and Media, Logistics and Packaging

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

Arizton Advisory & Intelligence
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Mail: enquiry@arizton.com
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