Global Smart Speaker Market Industry Share, Size, Gross Margin, Trend, Future Demand and Forecast to 2028 – Instant Interview

The global smart speaker market size is expected to reach USD 23.93 billion by 2028 with a CAGR of 16.9% during the forecast period, according to the latest report from Emergen Research. Growing demand for smart appliances and devices owing to growing trend of smart homes, increasing preference for connected devices and availability of technologically advanced smart devices are key factors expected to drive revenue growth market during the forecast period. Additionally, introduction and launch of smart speakers with advanced features, support for popular voice assistants and reasonable pricing are other key factors that are expected to further fuel the market revenue growth in the future. coming.

The factors influencing the growth of the Smart Speakers market and impacting the growth of the industry are studied in detail in the report. The report considers the COVID-19 pandemic as one of the major influencing factors for the smart speaker market. The report examines in detail the positive and negative impact of the pandemic on the smart speaker industry. Supply chain disruptions and economic volatility have changed the dynamics of the smart speaker industry. The report explores the effects of the pandemic on the market and its key segments and regions. It also offers a forecast estimate of market growth in a post-COVID-19 scenario.

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Some key highlights in the report:

  • Hardware segment revenue is expected to grow at a robust revenue CAGR during the forecast period owing to increasing advancements in smart speaker hardware and integration of advanced sensors for improved and accurate voice recognition.
  • The smart home segment is expected to account for the largest revenue share in the global market over the forecast period owing to the increasing integration of smart speakers in smart home devices such as lights, thermostats, televisions and other appliances.
  • The Alexa segment accounted for a major share of revenue in the global market in 2020 and is expected to witness robust revenue growth over the forecast period owing to its availability and affordability. Alexa is the most popular voice assistant for a wide range of smart speakers and is available in over 80 countries around the world.

The Smart Speaker research report also includes an in-depth study of key industry players along with their business overview, strategic planning, and business expansion plans adopted by them. It helps readers and business owners formulate strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, agreements with companies and governments, etc. The report also talks about the expansions that these prominent players are vying for in the key regions of the market. The report focuses on the detailed analysis of the technological and product developments undertaken by these companies.

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Leading companies studied in the Smart Speaker report are:

Apple, Inc., Alphabet, Inc.,, Inc., Sony Corporation, Lenovo Group Ltd., Xiaomi Corporation, Altec Lansing, Inc., SK Telecom Co. Ltd., Onkyo Corporation and Baidu, Inc.

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Regional analysis:

Based on regional analysis, the market is segmented into following regions: North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. The market is expected to be dominated by North American countries, closely followed by European countries. Asia-Pacific is expected to show significant growth due to recent progress and increased investment in the R&D sector.

For the purposes of this report, Emergen Research has segmented the global smart speaker market on the basis of component, application, intelligent virtual assistant, end-use, and region:

  • Components Outlook (Revenue, USD Billion; 2018-2028)
  • Application Outlook (Revenue, USD Billion; 2018-2028)
    • smart office
    • smart home
    • Others
  • Outlook Smart Virtual Assistant (Revenue, USD Billion; 2018-2028)
    • Google Assistant
    • Alexa
    • Siri
    • Cortana
    • Others
  • End-Use Outlook (Revenue, USD Billion; 2018-2028)

The report addresses the following key points:

  • The report provides a forecast of market drivers, restraints, and future opportunities for the Smart Speakers Market
  • The report further analyzes changing market dynamics
  • Regional analysis and market segmentation with analysis of regions and segments expected to dominate market growth
  • Comprehensive competitive landscape mapping with key competitor profiles
  • In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by major companies
  • Revenue Forecast, Country Scope, Application Information, and Product Information

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