8 July 2019 – The
Global Smart Speaker Market is predicted
to grow significantly in the coming years owing to the increasing number of
smart homes, increasing disposable income and speedy proliferation of
multinational devices. Smart speakers are the wireless devices that use
different types of connectivity for additional functions. They have special
features like enhance ease of use, compatibility to multiple types of audio
sources and offer additional functionality.
The smart speakers can perform several tasks like performing
personal assistant tasks (reciting to-dos and calendar events), control smart
home devices and home entertainment systems. Smart speakers are not only the
new way to control music but they also act as voice assistant and smart home
controllers that make them optimal command centers for smart home.
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Due to increasing demand for personalization, smart speakers
market is expected to witness surge in demand. Majority of early adopters of
these devices are affluent and are well aware of such innovations. However, the
devices are also gaining attraction in other demographic groups like young
generation X and children. These devices allow higher rate of personalization
that appeals the end-users and thereby impact the smart speaker market growth.
The growing concerns regarding compatibility are predicted
to hamper smart speaker market in the years to come. New products like Samsung
Bixby, Sonos One are facing comparability issues with devices like Belkin’s
WeMo range of switches, LIFX and Philips Hue. Numerous devices only support one
system, for instance, Amazon Eco is not compatible with casting technology by
Google and Google Home is not compatible with Amazon Fire TV.
Geographically, the market is segmented as North America,
Latin America, Europe, Asia Pacific and Middle East & Africa. Owing to the
high adoption of smart speakers, North America is expected to lead position in
the coming years. The prominent players in smart speaker market comprise
Amazon.com, Apple, Google, Harman International, and Sony.
Market Segment:
The following
manufacturers are covered in this report:
• Apple (U.S.)
• Google (U.S.)
• Bose Corporation (U.S.)
• Harman (U.S.)
• LG Electronics (South Korea)
Smart Speaker
Breakdown Data by Type
• Single Room
• Double-Room
• Multi-Room
Smart Speaker
Breakdown Data by Application
• Home
• Commercial
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