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%.
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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.
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The smart speakers market report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Some of the major players of the smart speakers market are Amazon, Inc., Apple, Inc., Xiaomi, Alibaba Group Holding Limited, Sonos. Inc., Harman International, Bose Corporation, Sony Corporation, Onkyo Corporation, and Panasonic Corporation.
The global smart speakers market is segmented –
1) By Intelligent Virtual Assistant: Amazon Alexa, Google Assistant, Siri, Cortana, Others
2) By Application: Smart Home, Smart Office, Consumer, Others
3) By End User: Personal, Commercial
4) By Distribution Channel: Online, Offline
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The smart speakers market report describes and explains the global smart speakers market and covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The smart speakers report evaluates the market across each region and for the major economies within each region.
The countries covered in the global smart speakers market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.
The regions covered in the global smart speakers market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Full Report Includes
- Executive Summary
- Report Structure
- Smart Speakers Market Characteristics
- Smart Speakers Market Product Analysis
- Smart Speakers Market Supply Chain
- Key Mergers And Acquisitions In The Smart Speakers Market
- Market Background: Machinery Manufacturing Market
- Copyright And Disclaimer
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