Smart speakers are getting more intelligent and rapidly becoming imperative devices used across homes
Albany, NY -- (SBWIRE) -- 08/21/2018 -- A comprehensive study, titled "Smart Speaker Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026" has been broadcasted to the wide database of Market Research Reports Search Engine (MRRSE), which presents a deep analysis of the latest trends and market expansion traits. This 432-page precise and intelligent study also covers the geographical segmentation which analyzes the scope of the market in different regions including North America, Europe, Asia Pacific, Middle East & Africa and South America. Moreover, the report provides qualitative and quantitative analysis of the market, in which market dynamics, trends, product summary, and country-level information are covered.
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Smart speakers are getting more intelligent and rapidly becoming imperative devices used across homes. Along with increased demand, most early adopters of smart speakers report they have become an essential part of their daily life. In order to provide accurate results, the market has been forecasted based on revenue (US$ Mn) and volume (thousand units) from 2018 to 2026. According to the analyst projections, the global smart speaker market is anticipated to reach a value of US$ 18,472.1 Mn by 2026. At this pace, the market is projected to expand at a CAGR of 18.01% during the forecast period from 2018 to 2026.
The research study finds that growing demand for smart speakers from emerging markets such as China and India is likely to boost growth of the Asia Pacific smart speaker market. To pour more light on the market expansion, the research deeply analyzes the market opportunities on the basis of components, mode of sale, application, and voice assistant type. By component, the study covers hardware and software. On the basis of mode of sale, the study has been segmented into online and offline mode. By voice assistant type, the study covers Amazon Alexa, Microsoft Cortana, Google Assistant, Apple Siri and others. Application-wise segmentation includes commercial and personal.
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On the basis of segmentation, the analysts find that Google Assistant segment is expected to expand at a CAGR of over 19% during the forecast period. It is also important to note that key players are also introducing their new smart speakers in developed markets such as North America and Europe, therefore, these regions are likely to account for a dominating share of the global smart speaker market.
As the report concludes, Porter's Five Forces model for the smart speaker market has also been included to help understand the competitive landscape in the market. This vital section profiles well-established players functioning across the globe, such as Harman International, Amazon.com, Inc., Alibaba Group, Apple, Inc., Sonos, Inc., and Xiaomi, Inc. among others.
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