NEW YORK, June 21, 2017 /PRNewswire/ --
Beige Market Intelligence announces the publication of an exclusive report on the Global Smart Voice Assistant Speaker Market - Strategic Assessment and Forecast 2017-2022.
- By Distribution Channels: Retail (mass market players and electronic stores) and online stores
- By Geography: APAC, Europe, North America, and RoW
- Global industry analysis, market size, market share, growth, trends, and forecast 2017-2022
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The 105-page report includes exclusive information about the market size, trends, drivers, restraints, geographical analysis, and key vendors in the global smart voice assistant speaker market.
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A change in technology leads to the transformation in the customer's experience and human interactions. As customers are increasing relying on smartphones and the convenience of information available on them through a large number of websites, their needs along with their expectations have altered. By using a voice-assistance technology, companies are trying to offer their customers something which can assist them and make their life convenient.
This report considers four major regions: APAC, Europe, North America, and RoW (Latin America and MEA). It outlines the major market shareholders and the market size analysis of all regions. According to the analysts at Beige Market Intelligence, North America was the largest geographical market for smart voice assistant speakers globally, accounting for market share of 93.58% and 92.98% in terms of unit shipment and value, respectively in 2016.
Smart Devices Witnessing High Traction among Consumers Worldwide
The concept of smart home is changing the way people live. Several appliances and household equipment in homes are connected by cables and electric wiring, and there are wireless modes of communication. They can be controlled from remote places, using cellphones as terminals. Engrained digital knowledge among consumers will encourage the acceptance of smart devices in their homes. The development of smart devices such as smart voice-assistant speakers and smart home hubs has made it possible to program a complete and autonomous home system. These devices can become an integral part of a smart home. However, the growing popularity of smart voice-assistant speakers pose a threat to the existing smart home hub market worldwide.
Voice-first Technology Continues to Gain Momentum
Voice-first user interfaces have been creating quite a buzz lately in the consumer product market globally. Using voice to interface with consumer products such as computers, tablets, smartphones, and other wearable devices have become quite common. Voice-first technology is being used mostly by the current generation, which is growing around those devices which can reply to our queries. The next generation of consumers would expect AI voice interaction. It is estimated that over 50% of all the human interaction with computers would be voice assisted by 2025.
Voice-first technology is finding its application in today's consumers' lifestyle and is becoming mainstream technology to be used in many consumer devices. According to the estimates by Google Trends, search queries made on Google in 2016 were 35 times more than in 2008. One such embedment is being witnessed in various product segments of consumer devices such as speakers. Voice-first devices include voice-assistant speakers like the ones offered by Amazon (Echo) and Google (Home).
Massive Surge in Demand for Smart Voice Assistant Speakers in US
The demand for smart voice assistant speakers in North America has been nearly more than doubled between 2014 and 2015. The major reason for this demand was increase in the popularity of smart voice assistant speakers among end-users. For instance, about 13 million US households had purchased at least one smart voice assistant speaker until December 2016.
Until March 2017, the US remain the only market in North America where smart voice assistant speakers were launched officially. However, Google Home is set to release in the Canadian market in the second half of 2017. As the US consumer electronics market is largely driven by the innovation and introduction of new product formats, smart voice assistant speakers are witnessing a high adoption among US consumers. Major new entrants in the global smart voice assistant speaker market are likely to be based out of the US in the future. Increasing funding of R&D activities for the introduction of products, which can be lighter, compact, and have differentiated functionalities will contribute to the market growth.
Global 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)
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.
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SOURCE Beige Market Intelligence LLP