Global smart voice assistant speaker market is likely to grow at a CAGR of 43.68% in terms of shipment during 2016–2022
Smart Voice Assistant Speaker Market – Report Insights
A smart voice assistant speaker, which is also known as a voice-activated speaker or voice-controlled speaker or VPA-enabled speaker, is a smart device by which a user can control using its voice. The speaker uses artificial intelligence (AI) to play music, find information, and control other connected devices in the house. A smart voice assistant speaker makes use of voice assistant platforms such as Alexa by Amazon, Google Assistant by Google, Cortana by Microsoft, and other voice assistant platforms.
Scope of the Report
The report “Global Smart Voice Assistant Speaker Market – Strategic Assessment and Forecast 2017-2022”, considers the present scenario of the global smart voice assistant speaker market and its strategic assessment for the period 2017–2022. It includes a detailed study of growth drivers, trends, and restraints. The report also profiles the leading vendors in the market and other key vendors.
The report provides the analysis of key segments of the market in terms distribution channel, geography, and vendors. It provides a detailed analysis of the revenue from the following segments:
By Distribution Channels
• Mass Market Players
• Electronic Stores
2. Online stores
• North America
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The report includes leading trends, drivers, and restraints for each region.
Smart Voice Assistant Speaker Market – Market Size and Dynamics
Analysts at Beige Market Intelligence expect that the global smart voice assistant speaker market is likely to post a CAGR of 43.68% and 30.45% in terms of unit shipment and revenue, respectively during 2016–2022. The market growth is more profound in developed markets such as Western Europe and North America. Modern and fast-paced lifestyle in developed countries such as the US, Canada, the UK, and Germany has led to the consumption of products that offer ease-of-use and convenience. In such countries, the penetration of smart homes has also increased, driving the sale of smart devices.
Apart from an increasing demand from developed markets, factors such as the integration of voice assistance technology in household appliances and enhanced marketing and visibility of these products online have contributed to the growth of the market.
Furthermore, the online retail market for smart voice assistant speakers is particularly well-developed and is growing, with the presence of online retailers such as Amazon, JD.com, and eBay offering products from vendors.
Smart Voice Assistant Speaker Market – Trends, Drivers, and Restraints
Increasing popularity of voice-first technology, rising investment on IoT by vendors, and growing push for digital economy in developing economies are a few emerging trends described in the report. Further, the report includes a detailed study of emerging trends, factors driving the growth, and expected challenges of the market during the period 2017–2022. Similarly, increased instances of voice searches, penetration of broadband and internet connections, and increased adoption of smart homes are among the major factors that are expected to drive the growth of the global voice assistant speaker market. The report also includes Porter’s Five Forces analysis and its impact on the market.
Smart Voice Assistant Speaker Market – Geographical Analysis
The report includes the market analysis of different regions such as North America, Latin America, APAC, MEA, and Europe. It outlines the major market shareholders and the market size analysis of all regions. North America was the largest market for global smart voice assistant speaker, in 2016, both in terms of unit shipment and value. It is expected to remain the market leader in 2022. The US was the only market in North America where these devices were launched officially in May 2017. However, Google Home is set to release in the Canadian market in the second half of 2017. Europe can be termed as the second largest market after North America. Europe was led by Germany and the UK where Amazon launched Echo in September 2016. Connected devices are witnessing a high popularity in the European market, and smart voice assistant speakers are also gaining popularity. Europe is likely to account for a double-digit market share both in terms of revenue and unit shipment in 2022.
Smart Voice Assistant Speaker Market –Key Vendors and Market Share
The global smart voice assistant speaker market has high growth potential. Vendors are increasingly indulging in distribution and forming conglomerates to cash on several opportunities. The profitability potential is driving vendors to invest in the market. The report profiles major companies in the global market and provides the competitive landscape and market share of the leading players. It covers the entire market outlook regarding the value chain operating in the market.
• Alphabet (Google)
The other prominent vendors included in the report are Beijing LingLong, Fabriq, Jam Audio, HARMAN, Invoxia, Lenovo, Mattel, Mycroft, NVIDIA, Sony.
Other emerging vendors are Swan Solutions, Cubic Robotics, Silk Labs, Protonet, Interactive Voice, SPACO.
Why should you buy the report?
The report provides answers to the following questions related to the global smart voice assistant speaker market.
1. What are the current changes witnessed by the market and how are they likely to impact the market landscape in the coming years?
2. What are the various factors that can affect the market over the next few years?
3. What are the major emerging trends and challenges for the market over the next five years?
4. What is the market size and market forecast for each product segment and end-user type?
5. Which region is expected to witness the highest market share and what are the factors driving the growth in that region?
6. What is the sale growth rate in key geographies?
7. Which are the major countries in terms of market size and market forecast?
8. Which are the key vendors in the market?
9. What are the main strategies implemented by the leading vendors to increase growth opportunities?
10. Which are the key emerging vendors in the market?
Table Of Contents – Major Key Points
Section 1 Research Methodology
Section 2 Report Coverage
2.1 Executive Summary
2.2 Scope of the Study
2.2.1 Definition of Product
2.2.2 Distribution Channel
2.2.3 End-user Segments
2.2.4 Base Year
2.3 Market Size Calculation Methodology
2.4 Report Assumptions
2.5 Vendor Segmentation
2.6 Common Currency Conversion Rates
Section 3 Market Landscape
3.1.1 Virtual-assistance Technology
3.2 Macroeconomic Factors Helping in Market Growth
3.2.1 Per Capita GDP in Developing Markets
3.2.2 Dual-income Households in Developed Markets
Section 4 Key Market Trends
4.1.2 YoY Impact of Market Trends
4.1.3 Impact of Market Trends on Geographies in 2016
4.1.4 Sensitivity Analysis of Key Market Trends
Section 5 Key Market Growth Drivers
5.1.1 YoY Impact of Market Drivers
5.1.2 Impact of Market Drivers on Geography in 2016
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