Smart Speaker Market Overview with Detailed Analysis, Competitive landscape Forecast to 2024
Category: #tech  By Partha Ray  Date: 2019-07-11
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Smart Speaker Market Overview with Detailed Analysis, Competitive landscape Forecast to 2024

MarketStudyReport.com Adds New Smart Speaker Market 2018 – 2024 research report providing information and data By Intelligent Virtual Assistant, By Application, Industry Analysis, Regional Outlook, Growth Potential, Trends, Competitive Market Share & Forecast spreading across 300 Pages with table and figures in it.

The Asia Pacific smart speaker market 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. By the end of 2016, there were 2.7 billion unique mobile subscribers in the region, accounting for more than half of mobile subscribers, particularly in India and China. With the penetration of 5G networks in the region, the penetration of intelligent devices is expected to increase, thus propelling the smart speaker market growth.

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Smart Speaker Market is set to exceed USD 30 billion by 2024 owing to the several benefits of these devices such as the ability to communicate with other devices and keeping users connected to the internet. For instance, these devices can perform a range of tasks such as giving information, sharing audio files, and provide on-command to other connected devices. The increasing penetration of IoT technology and the adoption of connected devices will boost the smart speaker market growth in the next six years. The increasing popularity of connected devices to perform domestic tasks, such as controlling lights and security doors, through single devices is fueling the industry demand. The integration of these devices with connected households will propel the industry growth.

The smart speaker market in commercial applications will grow rapidly 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. These devices will also find applications in the healthcare sector by integrating them with the building management systems and gathering patient information.

Increasing security threats related to these devices are expected to threaten the smart speaker market growth as these devices are equipped with intelligent virtual assistants, who listen to the users when activated using certain commands. These continuously-activated devices listen to the personal and confidential data of the users. Several security threats and incidents have occurred that have encouraged the players to improve the security of these systems.

The Siri-enabled smart speaker market is anticipated to grow rapidly due 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.

Rapidly-advancing technology is challenging the older devices and making the old devices obsolete. On the manufacturer?s side, the voice assistants offer a limited range of languages such as English, Japanese, and German. This will hamper the demand for these devices in Europe, Asia Pacific, Latin America, and the MEA, thereby challenging the smart speaker market.

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The key vendors in the smart speaker market include Apple, Inc., Baidu, Google, Inc., Lenovo, Onkyo, and Panasonic Corporation. The players in the industry are continuously innovating to differentiate the nature of their offerings. For instance, in 2018, Sonos introduced Sonos Beam, a soundbar with five far-field microphone array. With this launch, the company entered the home theater segment of the audio industry.

Table of Content:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Smart Speaker Industry Insights

Chapter 4. Smart Speaker Market, By Intelligent Virtual Assistant

Chapter 5. Smart Speaker Market, By Application

Chapter 6. Smart Speaker Market, By Region

Chapter 7. Company Profiles

For More Details on this Report At: https://www.marketstudyreport.com/reports/smart-speaker-market

Related Report:

United States Smart Speaker Market Report 2018

In this report, the United States Smart Speaker market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and 2025.

https://www.marketstudyreport.com/reports/united-states-smart-speaker-market-report-2018/?utm_source=RR-PSR

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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