The global smart speaker market is expected to reach US$ 18,472.1 Mn by 2026. The market is projected to expand at a CAGR of 18.01% during the forecast period from 2018 to 2026.
Albany, NY -- (SBWIRE) -- 07/13/2018 -- The market for smart speakers has been growing at a steady pace due to its wide adoption. According to a recent analysis, increasing number of companies ascertaining highly advanced smart speakers around the globe, rising smart homes trend worldwide, and rising disposable income are some of the prime factors driving the growth of smart speakers. Market Research Hub (MRH) has freshly broadcasted this study to its wide repository, which is titled as "Smart Speaker Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026" and provides a detailed analysis, emphasizing on the market dynamics that are estimated to determine the growth of the market in the coming few years.
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In a bid to offer better and accurate results, the report majorly attentions on some of the chief regions including the Middle East and Africa (MEA), Europe, Asia Pacific, North America, and South America. The regional analysis section is a crucial segment of the report, which enlightens the reader about the market scenario and trending factors influencing the market shares for each region. In addition, the growth drivers, opportunities, and challenges for the global smart speaker market have been discussed in the research report to give a clear understanding to the readers and investors.
Key Highlights from the Report
Nowadays, consumers are rapidly shifting toward the smart and convenient products. The fastest-growing trend in the tech world is smart speakers. Smart speakers are music speakers that can interact with users with the help of an integrated voice recognition system. As per the analyst's key evaluation, the global smart speaker market is expected to reach US$ 18,472.1 Mn by 2026. At this pace, the market is projected to expand at a remarkable CAGR of 18.01% during the forecast period from 2018 to 2026.
The report commences with an executive summary that includes an overview of the key outcomes curated by the research. This is followed by a market segmentation that bifurcates the market into various segments based on a different parameter. From a geographical standpoint, the research believes 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 at a growth rate of around 18.01% from 2018 to 2026.
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The market has been segmented on the basis of components, mode of sale, application, and voice assistant type. Based on application, the market is divided into commercial and personal. In terms of voice assistant type, the market is segmented into Amazon Alexa, Google Assistant, Apple Siri, Microsoft Cortana, and others. Online and offline are the two-mode of sale by which the market has been bifurcated.
Moving further, the study includes the profiles of key players in the market including Sonos, Inc., Amazon.com, Inc., Alibaba Group, Apple, Inc., Harman International, and Xiaomi, Inc. among others.
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