The global smart speaker market is anticipated to grow at a CAGR of 20.2% during the forecast period. The major factors that are driving the growth of the market include the increasing trend of wireless connectivity and devices, growing demand for smart speaker display, increasing number of smart homes, and rising IoT demand. Various companies such as Google, Amazon, Apple, and Baidu have introduced a wide range of products, which provides different choices to the end-user. The number of smart electronic devices by the major players is keeping users connected to the internet and the network of connected devices in addition to smartphones. The features of these devices include social networking applications, gaming, weather information, e-book readers, music players, digital camera, and GPS navigation.
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Besides, the factors that are augmenting the growth of the market include increasing disposable income of people all across the globe, technological advancement, and new product development by major players are further expected to drive the growth of the market. The factor that is restraining the growth of the market includes the concern relates to the connectivity and range of smart speakers.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Smart Speaker Market by Product
- Single Room Speakers
- Multi-Room Speakers
Global Smart Speaker Market by Technology
- Bluetooth
- Wi-Fi
- Others (DLNA, Airplay, Nera Field Communication (NFC))
Global Smart Speaker Market by Application
- Commercial
- Residential
- Others (Automotive)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Alibaba Group Holding Ltd.
- Altec Lansing/AL Infinity, LLC
- Com, Inc.
- Anker Technology (UK) Ltd,
- Apple Inc.
- Avalon Acoustics
- Baidu, Inc.
- Bose Corp.
- Creative Technology Ltd.
- Edifier International Ltd.
- Google Inc.,
- Harman International Industries, Inc. (JBL)
- Koninklijke Philips N.V.
- LG ElectronicsInc.
- Logitech, Inc.
- Matsushita Electric Industrial Co., Ltd. (Panasonic)
- Qualcomm Technologies, Inc.
- Samsung Electronics Co., Ltd.
- Sonos Inc.
- Sony Corp.
- Terratec Electronic GmbH
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global smart speaker market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
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