Worldwide smart speaker market players include Lenovo, LG Electronics, Panasonic, Pioneer Electronics, Alibaba Group, Sonos, Inc., Google, Sony, Xiaomi Technology, HARMAN International, Baidu, Inc., Amazon, and Apple.
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Personal applications segment in smart speaker market is predicted to account for 90% of the industry share as the integration of these devices with devices such as smart lightbulbs, thermostats, and TVs is encouraging the consumers to adopt these devices for personal uses.
The smart speaker market in commercial applications is expected to witness a tremendous growth of over 26% by 2024 due to the increasing adoption of these devices in businesses. These devices enable conference calls, allow the performance of hands-free tasks while receiving the industry information, and generate ambient sounds.
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The increasing usage of IVAs in the healthcare industry is expected to open new growth opportunities to the smart speaker market. These devices will be incorporated in the patient’s room in hospitals that will allow the patients to forward updates and requests to doctors and nurses through voice controls. The integration of these devices with platforms, such as building management systems, will allow the adjustment of window blinds and lighting. Several organizations are partnering with technology giants to develop such devices with advanced security.
Alexa-enabled smart speaker market in 2017 dominated over 70% industry share on account of its benefits including controlling smart homes, playing games, and playing music. Several companies are developing devices equipped with Alexa that are affordable to a wide range of customers.
The Siri-enabled smart speakers’ market is set to witness over 35% growth from 2018 to 2024 owing to the large popularity of Apple devices among the consumers. Superior sound quality as compared to the other speakers is adding to the increased shipments of these devices. Furthermore, the compatibility of these devices with the iOS is expected to propel the industry growth due to the large-scale adoption of iOS-enabled smartphones.
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The smart speaker market in the United States is poised to register over 25% gains to 2024 as the smart entertainment and connectivity have grabbed the highest consumer appeal in the smart homes segment in the region.
The Asia Pacific smart speakers’ industry is expected to gain momentum over the forecast time span owing to the increasing penetration of IoT and connected technology. The region has witnessed an upsurge in the wireless infrastructure developments.
The Germany smart speaker market size will witness a growth to reach over USD 3 billion by 2024 due to an increasing use of home automation in the country. Several players in the country are developing these devices to cater to the exponentially increasing requirements of the consumers.
The key vendors in the smart speakers’ market include Lenovo, LG Electronics, Panasonic, Pioneer Electronics, Alibaba Group, Sonos, Inc., Google, Sony, Xiaomi Technology, HARMAN International, Baidu, Inc., Amazon, and Apple. The industry is characterized by the presence of a large number of players with intense competition. In addition to the existing players, several new players are taking initiatives to enter the market.
Browse key industry insights spread across 300 pages with 372 market data tables & 29 figures & charts from the report, “Smart Speaker Market Size By Intelligent Virtual Assistant (Alexa, Google Assistant, Siri, Cortana, Others), By Application (Personal, Professional, Commercial), Industry Analysis Report, Regional Outlook (North America, Europe, Asia Pacific, Latin America, Middle East), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
Table of Contents (ToC) of the report:
Chapter 5. Smart Speaker Market, By Application (Revenue, Shipments)
5.1. Key trends in the market by application
5.2.1. Market estimates and forecast, 2014 – 2024
5.2.2. Market estimates and forecast by region, 2014 – 2024
5.3.1. Market estimates and forecast, 2014 – 2024
5.3.2. Market estimates and forecast by region, 2014 – 2024
5.4.1. Market estimates and forecast, 2014 – 2024
5.4.2. Market estimates and forecast by region, 2014 – 2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/smart-speaker-market
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