Smart Speakers Market Report Explain how the market has changed over the Years.
The global Smart Speakers Market was valued at USD 8.63 billion in 2022. It is projected to grow to USD 30.38 billion by 2030. This will be a 17.1 percent CAGR during the forecast period (2023-2030).
Smart speakers are powered by a voice-enabled virtual intelligence assistant and serve as the central control hub for many smart home operations such as entertainment, answering questions, browsing the internet, and so forth.
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Different age groups in America prefer voice-assistance platforms. Apple’s Siri is the most used by younger people, with 60% of those aged 18-24 using it. Amazon Alexa is more popular among those who use voice assistants 35 years and older. Voice assistants are used by more than 135 million Americans, even if they cannot be accessed via smart speakers. The most common activities performed by smart speakers in the United States include general queries, weather, traffic and sports updates, as well as listening to music via the built-in streaming service. As smart homes become more popular, smart speakers have seen a rise in popularity. They can be used to communicate via voice and are Wi-Fi-compatible. They can also be used as a command center for smart home devices.
In the near future, speaker systems will be more in demand due to rising residential use. Key market opportunities for key competitors will be provided by the proliferation of smart home products, the advancement in artificial technology, as well as the expansion of display-based gadgets. Moreover, market leaders are working to expand their business units worldwide. In September 2019, Amazon launched a new line of Alexa-enabled Echo devices. This includes the Echo Show 8, Echo Dot 8 with clock, Echo Flex, and Echo Flex. The new gadgets also offer Dolby Atmos, a three-dimensional audio experience.
The Smart Speakers market report covers the Top Players:
Apple
Sonos
Riva Concert
JBL
Alphabet (Google)
Bluesound
Bose
Sony Corporation
Panasonic Corporation
Samsung Electronics
Polk Audio
The biggest obstacle to the growth of small speakers is data security. Hackers use voice recording and mimicking to hack into the accounts of those who use voice-over devices. Some automatic speaker verification systems cannot match the speed recorded. These issues are being addressed by manufacturers who are constantly improving their technology.
If You have no time to read the complete report. I’ve also shared a buying guide (What Advantages should it have) that will help you understand the most important aspects of the Smart Speakers Market:
– Analyzing and identifying top players and their strategies.
– Understanding the competitive landscape.
– You can plan for expansion into other business segments.
– Identifying consumer insights.
– You can strategize for entry into the market.
Segmentation of the Smart Speakers Market:
These are the main product categories included in the Smart Speakers market report:
Programmable
Not Programmable
Application in the Smart Speakers market report:
Commercial
Household
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Segment Percentage By Country And Region, Smart Speakers 2023
Geographically, there are five regions that make up the global Smart Speakers market: North America (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
– North American country-level analyses include the U.S., Canada, and the Rest of North America. Analyze and forecast Smart Speakers for Europe, including markets from the U.K. through France and Germany. Asia Pacific includes India, China and Japan, as well as the Rest of Asia Pacific. Market analysis and forecast for the Middle East & Africa include South Africa, GCC countries, and the Rest Of The Middle East & Africa. The South American market Smart Speakers is divided into Brazil (and the Rest of South America).
The purpose of this Smart Speakers market study :
1) Give insight into market growth factors. Analyze the market for Smart Speakers’ based on different factors such as price analysis, supply chains analysis, and five intercom analysis.
2) This report Provides forecasts and detailed analysis of the global Smart Speakers Market.
3) This report Provides a country-level analysis of the market for the current size of the Smart Speakers Market as well as future growth.
4) This report provides country-level market analyses of the segment by product type, application, and sub-segments.
5) This report Establishes historical revenues and future revenue for market segments or sub-segments that relate to four major geographic areas and their respective countries: North America (Europe), Asia (Asia), and North America.
6) This report Monitor and analyze competitive developments such as joint ventures or strategic alliances.
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