DUBLIN--(BUSINESS WIRE)--The "Smart Speaker Market & Volume By Platform (Amazon Alexa, Google Assistant, Apple Siri), Countries (USA, UK, Germany, China, Others), Regions (NA, LA, EE, WE, Asia-Pac, Middle East & Africa), Companies (Amazon, Apple, Google, Microsoft, Xiaomi)" report has been added to ResearchAndMarkets.com's offering.
Global Smart Speaker Market is expected to be more than USD 18 Billion by the end of the year 2024.
The smart speaker is the newest hi-tech innovation in the field of audio systems, which has changed the way people use speakers. The smart speaker is a wireless speaker powered by artificial intelligence virtual assistant and is facilitated by Bluetooth, Wi-Fi or other wireless features. The smart speaker is the leading segment of today's audio systems as it performs different tasks including news reading, weather update, listening music, placing an order to a website, scheduling reminders, integrating smart home devices and so on, just on voice command. These smart features of a smart speaker offer an edge to dominate consumer technology market over other substitute products and services.
The smart speaker is key assimilation of improved microphones, automated speech recognition software and natural language processing (NLP), which help the smart speaker to identify and process the voice command of the user with absolute precision. Growing smart home devices demand, penetration of artificial intelligence and consumer demand for easy, portable, convenient and smart devices are some of the major factors, which are driving the growth of smart speakers market globally.
Besides, collaborations and partnerships among the smart homemakers and manufacturers of smart speakers further expected to boost the smart speakers market over the upcoming years. In contrary, the potential exploitation of consumers' data privacy by the manufacturers of smart speakers and the threat of illegitimate cyber-attacks are among the major issues that would hinder the growth of smart speakers market as smart speakers offer personalized service to their users by collecting and analyzing user's data.
Amazon Alexa holds the majority of Market in the Global Smart Speaker Segment
On the basis of platform, global smart speaker market is further segmented into Amazon Alexa, Google Assistant, Apple Siri, Others. Amazon Alexa holds the majority of market share in the global smart speaker market.
North America is dominating Smart Speaker Market Globally
In this report, we have done a comprehensive analysis of smart speaker volume and market by regions. The covered regions are; North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Middle East & Africa. The demand for smart speaker in North America is quite huge and its sales are growing at a rapid pace.
The United States is the leading Country in Smart Speaker Market
Smart speaker market is growing across all parts of the world. Market growth rates vary in the countries covered in the report United States, United Kingdom, Germany, China, Others. The United States is the leading country in smart speaker market globally.
Amazon, Apple, Google, Microsoft, Xiaomi are some of the top companies that are working in the smart speaker market. All the companies have been studied from the following points.
- Initiatives & Recent Developments
Key Topics Covered:
2. Research & Methodology
3. Growth Driver - Smart Speaker
3.1 Growing Market of Smart Homes
3.2 Growing GDP per Capita
3.3 Rising Internet Penetration across the Globe
4. Challenges- Smart Speaker
4.1 Issues related to Compatibility and Power
4.2 Privacy and Security Concern
4.3 Localization of Languages
4.4 High Cost of the Devices
5. Opportunities - Smart Speaker
5.1 Increasing Focus of Companies on Enhancing Customer Experience
5.2 Establishment of 5G Infrastructure
5.3 Advancement of Natural Language Processing (NLP)
6. Comparison of Products - Smart Speaker
7. Smart Speaker Volume & Market Analysis
7.1 Smart Speaker Market
7.2 Smart Speaker Volume
8. Market Share - Smart Speaker Analysis
8.1 By Platform
8.2 By Country
8.3 By Regions
9. Volume Share - Smart Speaker Analysis
9.1 By Platform
9.2 By Country
9.3 By Regions
10. Platform - Smart Speaker Market
10.1 Amazon Alexa
10.2 Google Assistant
10.3 Apple Siri
11. Platform - Smart Speaker Volume
11.1 Amazon Alexa
11.2 Google Assistant
11.3 Apple Siri
For more information about this report visit https://www.researchandmarkets.com/r/amc1p1