Global Smart Speaker Market 2018-2024: Market is Expected to Rise with a CAGR of 35%
DUBLIN, Oct. 8, 2018 /PRNewswire/ --
The "Global Smart Speaker Market - Technologies, Market share and Industry Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
Global smart speaker market is expected to rise with a CAGR of 35% during forecast period 2017-2024
The key factors driving the market growth are rising disposable income, growing trend of personalization, increasing number of smart homes and increased adoption of multifunctional devices. However, issues related to connectivity range, compatibility and power is the major factor restricting growth in global smart speaker market.
Moreover, the increased focus of market players to enhance customer experience is creating huge growth opportunity in market.
North America is the dominating market region for global smart speaker market in terms of market revenue share. This is due to presence of large number of leading manufacturers of smart speakers such as Amazon, Apple Inc., Harman International, Sonos etc. According to 2017 data of National Public Radio (NPR), in 2017, approximately 40 million adults in the U.S have adopted voice activated smart speakers.
Furthermore, RoW is fastest growing region during forecast period 2017-2024. This is due to rising disposable income in Middle East countries such as Israel, Iran, Kuwait, etc. along with increased adoption of connected consumer electronics.
Global smart speaker market is influenced by presence of leading market players such as Amazon (U.S.), Apple Inc. (U.S.), Onkyo Corporation (Japan), Xiaomi Inc. (China) etc. Product launch, joint ventures, merger and acquisition are some of the crucial strategies adopted by key market players of global smart speaker market to gain competitive advantage.
The report on global smart speaker market includes intelligent virtual assistant, component and application. On the basis of intelligent virtual assistant used in smart speaker, market is segmented into Alexa, Cortana, Google Assistant, Siri etc. Alexa is the leading intelligent virtual assistant segment due to several functions offered by it such as podcast streaming, real time information, voice interaction, making to-do lists, playing audiobooks, etc.
Furthermore, low cost and high efficiency of Alexa has led to increased consumer preference for Alexa smart speakers. On the basis of components used in smart speakers, market is segregated into hardware and software. Hardware is the largest component segment.
Various hardware components such as processor, memory, power IC, connectivity IC, microphone, speaker driver, audio IC etc. are being extensively used in smart speakers. The applications of smart speakers are consumer, smart home smart office, etc. Smart home is the dominating application segment due to rising per capita disposable income, changing lifestyle and rising consumer preference for luxurious entertainment systems.
Key Topics Covered:
1. Introduction
1.1. Executive Summary
1.2. Estimation Methodology
2. Market Overview
2.1. Global Smart Speaker Market: Evolution & Transition
2.2. Market Definition & Scope
2.3. Industry Structure
2.4. Regulatory Framework
2.5. Total Market Analysis
2.5.1. Top 5 Findings
2.5.2. Top 5 Opportunity Markets
2.5.3. Top 5 Companies
2.5.4. Top 3 Competitive Strategies
2.6. Estimation Analysis
2.7. Strategic Analysis
2.7.1. Investment Vs. Adoption Model
2.7.2. 360-Degree Industry Analysis
2.7.3. Porter's 5 Force Model
2.7.4. See-Saw Analysis
2.7.5. Consumer Analysis And Key Buying Criteria
2.8. Competitive Analysis
2.8.1. Market Share Analysis & Top Company Analysis
2.9. Strategic Recommendations & Key Conclusions
2.9.1. Investment Opportunities By Regions
2.9.2. Opportunities In Emerging Applications
2.9.3. Investment Opportunity In Fastest Growing Segment
3. Market Determinants
3.1. Market Drivers
3.1.1. Rising Disposable Income
3.1.2. Growing Personalization Trend
3.1.3. Increasing Number Of Smart Homes
3.1.4. Increased Adoption Of Multifunctional Devices
3.2. Market Restraints
3.2.1. Issues Related To Connectivity Range, Compatibility And Power
3.3. Market Opportunities
3.3.1. Increasing Focus Of Companies To Enhance Customer Experience
3.3.2. Increased Adoption Of Technologically Advanced Products
3.4. Market Challenges
3.4.1. Security Concerns Associated With Smart Speaker
3.4.2. Availability Of Alternative Substitutes
4. Global Smart Speaker Market By Intelligent Virtual Assistant
4.1. Market Definition And Scope
4.2. Decision Support Database & Estimation Methodology
4.3. Comparative Analysis Across Market Segments
4.4. Opportunity Matrix
4.5. Market Segmentation
4.5.1. Global Alexa Market
4.5.2. Global Cortana Market
4.5.3. Global Google Assistant Market
4.5.4. Global Siri Market
4.5.5. Global Others Market
5. Global Smart Speaker Market By Component
5.1. Market Definition And Scope
5.2. Decision Support Database & Estimation Methodology
5.3. Comparative Analysis Across Market Segments
5.4. Opportunity Matrix
5.5. Market Segmentation
5.5.1. Global Hardware Market
5.5.2. Global Software Market
6. Global Smart Speaker Market By Application
6.1. Market Definition And Scope
6.2. Decision Support Database & Estimation Methodology
6.3. Comparative Analysis Across Market Segments
6.4. Opportunity Matrix
6.5. Market Segmentation
6.5.1. Global Consumer Market
6.5.1.1. Adoption Scenario & Market Determinants
6.5.1.2. Market Estimations And Forecasts 2015-2024 ($ Million)
6.5.1.3. Key Conclusions
6.5.2. Global Smart Home Market
6.5.3. Global Smart Office Market
6.5.4. Global Others Market
7.Competitive Landscape
7.1.Key Strategies
7.1.1.List Of Mergers And Acquisitions
7.1.2.List Of Joint Ventures
7.1.3.List Of Product Launches
7.1.4.List Of Partnerships
8. Geographic Analysis
8.1. Decision Support Database & Estimation Methodology
8.2. Comparative Analysis Across Market Segments
8.3. Opportunity Matrix
8.4. Global Smart Speaker Market By Region 2015-2024
9. Company Profiles
- Alibaba (China)
- Alphabet Inc. (U.S.)
- Altec Lansing (U.S.)
- Amazon (U.S.)
- Apple Inc. (U.S.)
- Bose Corporation (U.S.)
- Harman International (U.S.)
- Lenovo (Hong Kong)
- Onkyo Corporation (Japan)
- Panasonic Corporation (Japan)
- Pioneer Electronics (Japan)
- SK Telecom (South Korea)
- Sonos (U.S.)
- Sony Corporation (Japan)
- Xiaomi Inc. (China)
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