Electrical And Electronics Manufacturing

Global Smart Speakers Market Overview And Prospects

December 22, 2021 by The Business Research Company

Learn about the global smart speakers market through The Business Research Company, which provides information on smart speakers market size, smart speakers market drivers and restraints, smart speakers market players, the COVID-19 impact on the smart speakers market, and more.

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The global smart speakers market is expected grow from $4.66 billion in 2020 to $6.98 billion in 2021 at a compound annual growth rate (CAGR) of 49.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The smart speakers market is expected to reach $17.85 billion in 2025 at a CAGR of 26%.

With increasing consumer preference for technologically advanced products are expected to drive innovation in smart speakers manufacturing, thus driving the market during the forecast period.

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The smart speakers market consists of sales of smart speakers and related products that include Bluetooth, Wi-Fi-enabled and wireless devices which are integrated with virtual assistant device powered by artificial intelligence. The smart speakers market consists of revenue generated through the sales of speakers with virtual assistant intelligence such as Alexa, Google Assistant, Siri, and Cortana, among others which are distributed through online or offline channels to personal and commercial users for smart home, smart office, automotive, commercial and more applications. The companies involved in the smart speakers market are engaged in designing, manufacturing, producing artificial intelligence assisted speakers which are activated with one ‘hot word’ using voice recognition systems to perform wide range of wireless activities.

Global smart speakers market segments include:

By Intelligent Virtual Assistant: Amazon Alexa, Google Assistant, Siri, Cortana, Others

By Application: Smart Home, Smart Office, Consumer, Others

By End User: Personal, Commercial

By Distribution Channel: Online, Offline

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

Virtual assistant devices are powered by artificial intelligence which offer ultimate luxury to the owner. They keep on listening to the command, analyse the needs and performs the task when necessary.

TBRC’s smart speakers market report covers:

Major Market Players: Amazon, Inc., Apple, Inc., Xiaomi, Alibaba Group Holding Limited, Sonos. Inc., Harman International, Bose Corporation, Sony Corporation, Onkyo Corporation, and Panasonic Corporation.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Smart Speakers Global Market Report 2021: COVID-19 Growth and Change to 2030 is one of a series of new reports from The Business Research Company that provides smart speakers market overviews, analyses and forecasts market size, share, smart speakers market players, smart speakers market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s smart speakers market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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