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Smart Speaker Market

Smart Speaker Market Size, Share & Trends Analysis Report

Smart Speaker Market Size, Share & Trends Analysis Report By Component (Hardware, Software) By Intelligent Virtual Assistant (Alexa, Google Assistant, Siri, Cortana, Others) By Application (Smart Home, Smart Office, Consumer, Others) Based On Region, And Segment Forecasts, 2022 - 2028

Published
Report ID : BMRC 349
Number of pages : 300
Published Date : Nov 2022
Category : Technology And Media
Delivery Timeline : 48 hrs

Global Smart Speaker Market is valued at USD 3.85 Billion in 2021 and is expected to reach USD 41.16 Billion By 2028 with a CAGR of 34.69% over the forecast period. 

Smart Speaker Market Scope

Smart Speaker is a wireless Speaker driven by the artificial intelligence and powered by virtual assistant and enables by wireless technology such as Bluetooth, Wi-Fi and others. These Smart Speakers are command operated and used to perform various functions by voice command such as listening music, obtaining weather information, news and other day-to-day activities. These Smart Speakers can easily connect with the other smart devices and those devices can also be controlled by the single voice command and helps in the building of smart homes.

Smart Speaker Market report is segmented on components, Intelligent Virtual Assistant, application and by regional & country level. Based upon components, Smart Speaker market is segmented into hardware and software. On the basis of Intelligent Virtual Assistant, the market is segmented into Alexa, Google Assistant, Siri, Cortana, and Others. Based upon application, Smart Speaker market is classified into Smart Home, Smart Office, Consumer, and Others.

Smart Speaker Segmentation

By Component

  • Hardware
  • Software  

By Intelligent Virtual Assistant

  • Alexa
  • Google Assistant
  • Siri
  • Cortana
  • Others

By Application

  • Smart Home
  • Smart Office
  • Consumer
  • Others

Smart Speaker Companies

Some major key players for Smart Speaker market are

  • Amazon.com, Inc.
  • Apple Inc.
  • Google Inc.
  • Panasonic Corporation
  • Logitech International S.A.
  • Sonos Inc.
  • LG Electronics Inc.
  • Sony Corporation
  • Harman International Industries
  • Samsung Electronics
  • others.

Rapid increase in the demand of multifunctional device and increased demand of smart devices is the key factor which helps Smart Speaker Market to grow.

As the development in technology is taking place the demand of advanced devices are increasing rapidly to replace the human efforts with ease. There has been significant increase in the smart home devices due to the increasing demand of smart home. Smart Speakers can easily integrate with other smart devices and works efficiently with single voice command. Furthermore, increasing demand of multifunctional devices on a large scale assisted with advanced technology. These multifunctional devices helps the users in the accomplishment of multiple task with the help of single device such as, calling, light control, news, weather forecast and others. All the above mentioned factors are expected to support the growth of Smart Speakers market over the forecast period. Moreover, constant development of technology and its fast integration coupled with increase in disposable income are expected to create ample opportunities in the Smart Speakers market over the forecast period. However, privacy and security issues coupled with language issues are expected to hinder the Smart Speaker market in the near future.

North America is expected to dominate the Smart Speaker Market

North America is expected to dominate the Smart Speaker market in terms of market share which was further followed by Europe. The North America contributes the major market share due to the presence of developed economies such as U.S., Canada and others coupled with increased use of internet of things and increased used of smart devices on a large scale. Moreover, the presence of major manufacturers in the region which is further expected to drive the growth of Smart Speaker market in the near future.

Europe is expected to accounts for the second highest market share due to the increased use of advanced technology and increased demand of goods that provide lot of convenience such as smart devices are expected to boost the growth of Smart Speaker market over the forecast period.

Asia Pacific is expected to develop significantly in terms of growth rate ad expected to maintain its dominance over the forecast period. The presence of developing economies such as India, China, and others coupled with increased demand for smart devices and increase in disposable income of people in the region are expected to gain traction. However, Middle East, Latin America and Africa is expected to develop moderately over the forecast period.

Regions and Countries

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Sweden
  • Netherland
  • Turkey
  • Switzerland
  • Belgium
  • Rest of Europe

Asia-Pacific

  • South Korea
  • Japan
  • China
  • India
  • Australia
  • Philippines
  • Singapore
  • Malaysia
  • Thailand
  • Indonesia
  • Rest Of APAC

Latin America

  • Mexico
  • Colombia
  • Brazil
  • Argentina
  • Peru
  • Rest of South America

Middle East and Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest Of MEA
Report Analysis Details
Historical data 2018 - 2021
Forecast Period 2022- 2028
Market Size in 2021: USD 3.85 Billion
Base year considered 2021
Forecast Period CAGR %: 34.69%
Market Size Expected in 2028: USD 41.16 Billion
Tables, Charts & Figures: 175
Pages 300
Smart Speaker Companies: Amazon, Inc., Apple Inc., Google Inc., Panasonic Corporation, Logitech International S.A., Sonos Inc., LG Electronics Inc., Sony Corporation, Harman International Industries, and Samsung Electronics among others.
Segments Covered By Component, By Intelligent Virtual Assistant, By Application
Regional Analysis North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
SUMMARY
VishalSawant
Vishal Sawant
Business Development
vishal@brandessenceresearch.com
+91 8830 254 358
Segmentation
Segments

By Component

  • Hardware
  • Software  

By Intelligent Virtual Assistant

  • Alexa
  • Google Assistant
  • Siri
  • Cortana
  • Others

By Application

  • Smart Home
  • Smart Office
  • Consumer
  • Others
Country
Regions and Country

North America

  • U.S.
    U.S.
  • Canada
    Canada

Europe

  • Germany
    Germany
  • France
    France
  • U.K.
    U.K.
  • Italy
    Italy
  • Spain
    Spain
  • Sweden
    Sweden
  • Netherlands
    Netherlands
  • Turkey
    Turkey
  • Switzerland
    Switzerland
  • Belgium
    Belgium
  • Rest of Europe

Asia-Pacific

  • South Korea
    South Korea
  • Japan
    Japan
  • China
    China
  • India
    India
  • Australia
    Australia
  • Philippines
    Philippines
  • Singapore
    Singapore
  • Malaysia
    Malaysia
  • Thailand
    Thailand
  • Indonesia
    Indonesia
  • Rest of APAC

Latin America

  • Mexico
    Mexico
  • Colombia
    Colombia
  • Brazil
    Brazil
  • Argentina
    Argentina
  • Peru
    Peru
  • Rest of South America

Middle East and Africa

  • Saudi Arabia
    Saudi Arabia
  • UAE
    UAE
  • Egypt
    Egypt
  • South Africa
    South Africa
  • Rest of MEA
Company
Key Players
  • Amazon.com, Inc.
  • Apple Inc.
  • Google Inc.
  • Panasonic Corporation
  • Logitech International S.A.
  • Sonos Inc.
  • LG Electronics Inc.
  • Sony Corporation
  • Harman International Industries
  • Samsung Electronics
  • others.

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