The global smart speaker market to grow at a CAGR of 24.02% during the period 2017-2021.
The report, Global Smart Speaker Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is development of deep-learning technology. Deep-learning software is an advanced version of AI technology. The software attempts to mimic the activity and functioning of the human neocortex, which is the most active part of the human brain. Also, the deep-learning software is capable of recognizing patterns of images, sound, and other data.
This is now possible due to advances in mathematical formulas and availability of powerful computers, which enable computer scientists to model several layers of virtual neurons and multiple neural networks. This depth has enabled complex functions such as speed and image recognition and is being exploited by large MNCs like Google to build speech recognition software in its latest Android mobile software.
According to the report, one of the major drivers for this market is increase in number of smart homes. A large number of homes in developed countries such as the US and the UK are being renovated into smart homes. In a smart home, smart electronics, consumer electronic devices, and media and entertainment gadgets are connected to the home network and can interact with each other. The demand for smart homes is highly driven by energy saving requirements, convenience, and connectivity among the home devices. It is also fueled by government initiatives to promote smart homes for a better living. Among the common examples of solutions in this market are the introduction of smart meters to conserve energy and the assistance of power line communication.
Other prominent vendors
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Application
Part 07: Market Segmentation By Distribution Channel