Smart Speaker Market Growth Size, Expanding Current Industry Status and Forecast to 2027
Overview
The smart speaker market is projected to grow at a CAGR of 34.7% during the forecast period 2018–2023. As per the smart speaker market research report, the global market for smart speaker is anticipated to grow rapidly by US$11.57 billion by 2023. As per analysts, the increasing number of smart homes along with rising disposable income will drive the market growth throughout the forecast period. The smart speaker market research report provides an in-depth analysis of the global smart speaker market and its intelligent virtual assistant and applications segments. The issues related to connectivity range as well as concerns regarding data security are the factors which could affect the smart speaker market growth during the forecast period 2018–2023. The smart speaker market research report by expert analysts is intended to help companies in the smart speaker market.
Market Segmentation
The global Smart Speaker Market Growth has been segmented based on intelligent virtual assistant and applications. On the basis of intelligent virtual assistant, the market for smart speaker is segmented based on Cortana, Google Assistant, Siri, Alexa, and others. Additionally, the market on the basis of applications, is segmented into personal use and commercial use.
Key influences such as privacy concerns could obstruct the smart speaker market growth. However, as per the smart speaker market research report, the growing trend of personalization as well as the rise of artificial intelligence (AI) will drive growth during the forecast period 2018–2023. These key growth factors will help support the smart speaker market growth at a high CAGR. The segmental analysis of intelligent virtual assistant and applications segments as well as regional market analysis has been presented in the global smart speaker market research report. Analysts studying the smart speaker market have presented projections in the smart speaker market research report assisting smart speaker market-based companies in numerous ways. The smart speaker market research report offers crucial details about the smart speaker market based on the data and forecasts till 2023.
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Regional Overview
North America, Europe, Asia Pacific and the rest of the world regional market for smart speaker are primarily covered in the global smart speaker market research report. The report also covers country-level markets spread across North America – the United States, Canada, and Mexico. In South America – Brazil and other country-level smart speaker markets are covered in the report. In Asia-Pacific (APAC) region, the country-level smart speaker markets covered are China, India, Japan, and others. The smart speaker market research report also covers the regional market for smart speaker spread across European countries including the United Kingdom, France, Italy, Spain, and Germany, etc. The smart speaker market research report further explores other regional markets from the rest of the world including smart speaker markets of the Middle East and Africa. As per the global smart speaker market research report.
Top Market Players
The top players in the smart speaker market are listed to be Sony Corporation (Japan), Harman International (US), Amazon.com (US), Sonos. Inc. (US), Apple Inc. (US), Alibaba Group Holding Ltd (China) Bose Corporation (US), Google (US), Panasonic Corporation (Japan), ONKYO CORPORATION (Japan), and among others.
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