DUBLIN, July 3, 2020 /PRNewswire/ -- The "Global Smart Speaker Market by Intelligent Virtual Assistant (Google Assistant, Alexa, Siri, Microsoft Cortana, Clova, Others), by Component (Hardware, Software), by Connectivity, by Application, by Distribution Channel, by Region, Competition, Forecast & Opportunities, 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Smart Speaker Market is expected to grow at a significant rate during the forecast period owing to the growing demand for luxury entertainment systems. Growing number of smart homes and rising internet penetration is aiding to the growing demand for smart speaker, globally. Further, increasing technological advancement has led to variety of smart speakers available in the market. This has also led to increase in the demand for multifunctional devices and hence smart speakers are getting increasingly popular around the world.
Smart speakers are voice command devices with an integrated virtual assistant that offers interactive actions and hands-free activation with the help of one "hot word". The growing number of tech savvy consumers is leading to the increasing demand for smart technology equipped devices like smart speakers. Consumers' readiness to spend on trending technologies and rise in usage of smart devices, especially among youngsters is anticipated to fuel the demand for smart speakers in the coming years. The establishment of 5G network and advancement in Natural Language Processing (NLP) are further supporting the demand for smart speakers.
The Global Smart Speaker Market can be segmented based on intelligent virtual assistant, component, connectivity, application, distribution channel and region. Based on intelligent virtual assistant, the market is segmented into Google Assistant, Alexa, Siri, Microsoft Cortana, Clova and others. Alexa, which was first launched by Amazon in 2014, captured the largest market share in 2019. Growing consumer preference for Alexa due to its lesser cost and more application than other assistants fuels the demand for Alexa smart speakers across the globe.
Regionally, North America holds the largest market share in the smart speaker market due to high technological advancements in the region and increasing per capita disposable income. Leading smart speaker companies are American and hence the North American region is expected to dominate the market in terms of revenue during the next five years as well.
Major companies operating in the Global Smart Speaker Market include Apple, Inc., Amazon, Harman International, Sonos, Alphabet, Bose, Sony, Onkyo, Panasonic, Alibaba, Xiaomi and Lenovo, among others. Leading companies are working on localization of smart speaker to expand their market and increase their revenue share.
Objective of the Study:
- To analyse and forecast the market size of the Global Smart Speaker Market.
- To forecast the Global Smart Speaker Market based on intelligent virtual assistant, component, connectivity, application, distribution channel, company and regional distribution.
- To identify drivers and challenges for the Global Smart Speaker Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc. in the Global Smart Speaker Market.
- To identify and analyse the profile of leading players operating in the Global Smart Speaker Market.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Smart Speaker Market
4. Executive Summary
5. Voice of Customer
6. Global Smart Speaker Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Intelligent Virtual Assistant (Google Assistant, Alexa, Siri, Microsoft Cortana, Clova, Others)
6.2.2. By Component (Hardware, Software)
6.2.3. By Connectivity (Wi-Fi, Bluetooth, Others)
6.2.4. By Application (Residential, Commercial)
6.2.5. By Distribution Channel (Offline, Online)
6.2.6. By Company (2019)
6.2.7. By Region
6.3. Product Market Map
7. Asia-Pacific Smart Speaker Market Outlook
7.1. Market Size & Forecast
7.2. Market Share & Forecast
7.3. Asia-Pacific: Country Analysis
8. Europe Smart Speaker Market Outlook
8.1. Market Size & Forecast
8.2. Market Share & Forecast
8.3. Europe: Country Analysis
9. North America Smart Speaker Market Outlook
9.1. Market Size & Forecast
9.2. Market Share & Forecast
9.3. North America: Country Analysis
10. South America Smart Speaker Market Outlook
10.1. Market Size & Forecast
10.2. Market Share & Forecast
10.3. South America: Country Analysis
11. Middle East and Africa Smart Speaker Market Outlook
11.1. Market Size & Forecast
11.2. Market Share & Forecast
11.3. MEA: Country Analysis
12. Market Dynamics
13. Market Trends & Developments
14. Competitive Landscape
14.1. Competition Outlook
14.2. Players Profiled (Leading Companies)
14.2.1. Apple, Inc.
14.2.2. Amazon.com, Inc.
14.2.3. Harman International Industries Limited
14.2.5. Alphabet, Inc.
14.2.6. Bose Corp.
14.2.7. Sony Corp.
14.2.8. Onkyo Corp.
14.2.9. Panasonic Corp.
14.2.10. Alibaba Group Holding Limited
14.2.11. Xiaomi Corp.
14.2.12. Lenovo Corp.
15. Strategic Recommendations
16. About the Author & Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/dklolt
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