Smart Speaker Market
Smart Speaker Market

Global Smart Speaker Market Report, New Technology, Future Scope, Size, Share and Forecast 2022-2027

The latest report by IMARC Group, titled “Smart Speaker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on global smart speaker market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global smart speaker market reached a value of US$ 5.08 Billion in 2021.

Smart speakers are wireless audio playback devices powered by virtual assistants, and integrated with Bluetooth, Wi-Fi and other wireless protocols. They are activated by voice commands that help perform different tasks like listening to music, ordering food, and online shopping. The device also aids in obtaining weather information, the latest news, listing day-to-day activities, and integrating with smart home appliances. Nowadays, smart speakers are integrated with Google Home and Amazon Echo, which automate digital tasks. Recently, smart speakers have gained traction as they offer excellent connectivity, portability, cost-effectiveness, ease of use, and intelligent features, which help in generating a better experience for the target audience.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Smart Speaker Market Trends:

The market is primarily driven by the increasing popularity of smart devices, especially among the younger population. Consumers are readily investing in smart speakers, including Amazon Echo and Google Home, to function as a centralized hub and control other smart home devices with voice commands. Besides this, the growing inclination toward human-to-machine interaction and automation of domestic tasks is also escalating the demand for smart speakers. Furthermore, consumers are shifting toward luxurious entertainment systems due to inflating disposable income levels and the rising trend of personalization, which is positively impacting the market growth. Furthermore, technological advancements, such as the introduction of advanced microphones, automated speech recognition technology, and natural language processing (NLP), are facilitating the smart speaker to identify and process voice commands with greater precision. Moreover, several leading players are launching innovative smart speakers with advanced features, functions and compatibility with all smartphones to expand their product portfolio. Looking forward, the market is expected to reach a value of US$ 21.94 Billion by 2027, exhibiting a CAGR of 26.10% during the forecast period (2022-2027).

Explore full report with table of contents:

Competitive Landscape with Key players:

The report has also analysed the competitive landscape of the market with some of the key players being.

  • Alibaba Group Holding Limited
  • Altec Lansing
  • com Inc.
  • Apple Inc.
  • Baidu Inc.
  • Bose Corporation
  • Google LLC
  • Lenovo Group Limited
  • LG Electronics Inc.
  • Onkyo Corporation (VOXX International Corp.)
  • Panasonic Corporation
  • Samsung Electronics Co. Ltd.
  • Sonos Inc.
  • Sony Corporation
  • Xiaomi Inc

Smart Speaker Market Segmentation:

Our report has categorized the market based on region, component, intelligent virtual assistant, connectivity, price range, distribution channel and end user.

Breakup by Component:

  • Hardware
  • Software

Breakup by Intelligent Virtual Assistant:

  • Amazon Alexa
  • Google Assistant
  • Siri
  • Cortana
  • Others

Breakup by Connectivity:

  • Wi-Fi
  • Bluetooth

Breakup by Price Range:

  • Low-range (Less than $100)
  • Mid-range ($101 to $200)
  • Premium (Above $200)

Breakup by Distribution Channel:

  • Online
  • Offline

Breakup by End User:

  • Personal
  • Commercial

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Table of Contents:

1    Preface
2    Scope and Methodology

2.1    Objectives of the Study
2.2    Stakeholders
2.3    Data Sources
2.3.1    Primary Sources
2.3.2    Secondary Sources
2.4    Market Estimation
2.4.1    Bottom-Up Approach
2.4.2    Top-Down Approach
2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

4.1    Overview
4.2    Key Industry Trends
5    Global Smart Speaker Market
5.1    Market Overview
5.2    Market Performance
5.3    Impact of COVID-19
5.4    Market Forecast
6    Market Breakup by Component
6.1    Hardware
6.1.1 Market Trends
6.1.2 Market Forecast
6.2    Software
6.2.1 Market Trends
6.2.2 Market Forecast
7    Market Breakup by Intelligent Virtual Assistant
7.1    Amazon Alexa
7.1.1 Market Trends
7.1.2 Market Forecast
7.2    Google Assistant
7.2.1 Market Trends
7.2.2 Market Forecast
7.3    Siri
7.3.1 Market Trends
7.3.2 Market Forecast
7.4    Cortana
7.4.1 Market Trends
7.4.2 Market Forecast
7.5    Others
7.5.1 Market Trends
7.5.2 Market Forecast
8    Market Breakup by Connectivity
8.1    Wi-Fi
8.1.1 Market Trends
8.1.2 Market Forecast
8.2    Bluetooth
8.2.1 Market Trends
8.2.2 Market Forecast
9    Market Breakup by Price Range
9.1    Low-range (Less than $100)
9.1.1 Market Trends
9.1.2 Market Forecast
9.2    Mid-range ($101 to $200)
9.2.1 Market Trends
9.2.2 Market Forecast
9.3    Premium (Above $200)
9.3.1 Market Trends
9.3.2 Market Forecast
10    Market Breakup by Distribution Channel
10.1    Online
10.1.1 Market Trends
10.1.2 Market Forecast
10.2    Offline
10.2.1 Market Trends
10.2.2 Market Forecast
11    Market Breakup by End User
11.1    Personal
11.1.1 Market Trends
11.1.2 Market Forecast
11.2    Commercial
11.2.1 Market Trends
11.2.2 Market Forecast
12    Market Breakup by Region
12.1    North America
12.1.1 United States Market Trends Market Forecast
12.1.2 Canada Market Trends Market Forecast
12.2    Asia-Pacific
12.2.1 China Market Trends Market Forecast
12.2.2 Japan Market Trends Market Forecast
12.2.3 India Market Trends Market Forecast
12.2.4 South Korea Market Trends Market Forecast
12.2.5 Australia Market Trends Market Forecast
12.2.6 Indonesia Market Trends Market Forecast
12.2.7 Others Market Trends Market Forecast
12.3    Europe
12.3.1 Germany Market Trends Market Forecast
12.3.2 France Market Trends Market Forecast
12.3.3 United Kingdom Market Trends Market Forecast
12.3.4 Italy Market Trends Market Forecast
12.3.5 Spain Market Trends Market Forecast
12.3.6 Russia Market Trends Market Forecast
12.3.7 Others Market Trends Market Forecast
12.4    Latin America
12.4.1 Brazil Market Trends Market Forecast
12.4.2 Mexico Market Trends Market Forecast
12.4.3 Others Market Trends Market Forecast
12.5    Middle East and Africa
12.5.1 Market Trends
12.5.2 Market Breakup by Country
12.5.3 Market Forecast
13    SWOT Analysis
13.1    Overview
13.2    Strengths
13.3    Weaknesses
13.4    Opportunities
13.5    Threats
14    Value Chain Analysis
15    Porters Five Forces Analysis

15.1    Overview
15.2    Bargaining Power of Buyers
15.3    Bargaining Power of Suppliers
15.4    Degree of Competition
15.5    Threat of New Entrants
15.6    Threat of Substitutes
16    Price Analysis
17    Competitive Landscape

17.1    Market Structure
17.2    Key Players
17.3    Profiles of Key Players
17.3.1    Alibaba Group Holding Limited Company Overview Product Portfolio
17.3.2    Altec Lansing Company Overview Product Portfolio
17.3.3 Inc. Company Overview Product Portfolio Financials SWOT Analysis
17.3.4    Apple Inc. Company Overview Product Portfolio Financials SWOT Analysis
17.3.5    Baidu Inc. Company Overview Product Portfolio
17.3.6    Bose Corporation Company Overview Product Portfolio SWOT Analysis
17.3.7    Google LLC Company Overview Product Portfolio SWOT Analysis
17.3.8    Lenovo Group Limited Company Overview Product Portfolio
17.3.9    LG Electronics Inc. Company Overview Product Portfolio Financials SWOT Analysis
17.3.10    Onkyo Corporation (VOXX International Corp.) Company Overview Product Portfolio Financials
17.3.11    Panasonic Corporation Company Overview Product Portfolio Financials SWOT Analysis
17.3.12    Samsung Electronics Co. Ltd. Company Overview Product Portfolio Financials SWOT Analysis
17.3.13    Sonos Inc. Company Overview Product Portfolio Financials SWOT Analysis
17.3.14    Sony Corporation Company Overview Product Portfolio Financials SWOT Analysis
17.3.15    Xiaomi Inc. Company Overview Product Portfolio Financials

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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