Smart Speaker Market Revenue, Statistics, Industry Growth and Demand Analysis Research Report by 2028

August 13 20:45 2021
Smart Speaker Market Revenue, Statistics, Industry Growth and Demand Analysis Research Report by 2028
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The global smart speaker market size is expected to reach USD 23.93 billion in 2028 at a CAGR of 16.9% during the forecast period, according to the latest report by Emergen Research.

Increasing demand for smart appliances and devices due to growing trend of smart homes, rising preference for connected devices, and availability of technologically advanced smart devices are key factors expected to drive market revenue growth over the forecast period. In addition, introduction and launch of smart speakers with advanced features, support for popular voice assistants, and reasonable prices are some other key factors expected to further fuel revenue growth of the market going ahead.

The report also examines the impact of the key factors that influence the growth of the industry. This includes the current COVID-19 pandemic and its subsequent effects on the workings of the industry. The report examines the impact of the pandemic on the supply chain of the globe along with the impact on the economic landscape of the market. The report also offers a comprehensive assessment of the current and future impact of the pandemic on the overall Smart Speaker market.

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Some Key Highlights in the Report:

  • Alexa segment accounted for a significant revenue share in the global market in 2020 and is expected to register robust revenue growth over the forecast period owing to its easy availability and affordability. Alexa has been the most preferred voice assistant for a wide range of smart speakers and is available in over 80 countries across the globe.
  • The personal use segment is expected to dominate other end-use segments in terms of revenue over the forecast period owing to rising adoption of smart home systems across the globe, increasing integration of smart speakers with various devices, and rising use of smart speakers to for various personal applications such as making phone calls, tracking user activity, and scheduling appointments, among others.
  • North America is expected to account for largest revenue share in the global market in terms of revenue over the forecast period owing to high adoption of smart speakers, preference for innovative and cost-effective devices, increasing purchasing power among individuals, and presence of key manufacturers in the region.
  • Key companies in the market include Apple, Inc., Alphabet, Inc., Amazon.com, Inc., Sony Corporation, Lenovo Group Ltd., Xiaomi Corporation, Altec Lansing, Inc., SK Telecom Co. Ltd., Onkyo Corporation, and Baidu, Inc.

For the purpose of this report, Emergen Research has segmented the global smart speaker market on the basis of component, application, intelligent virtual assistant, end-use, and region:

  • Component Outlook (Revenue, USD Billion; 2018-2028)
    • Hardware
    • Software
  • Application Outlook (Revenue, USD Billion; 2018-2028)
    • Smart Office
    • Smart Home
    • Others
  • Intelligent virtual assistant Outlook (Revenue, USD Billion; 2018-2028)
    • Google Assistant
    • Alexa
    • Siri
    • Cortana
    • Others
  • End-use Outlook (Revenue, USD Billion; 2018-2028)
    • Commercial
    • Personal

Key geographical regions analyzed in the report:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Key questions addressed in the report:

  • Which are the top regions in the global Smart Speaker market?
  • What are the sales estimates for these regions over the forecast period?
  • What will be the global market size by the end of the projected timeline?
  • What is the anticipated growth rate for each region of the market?

Table of Content

Chapter 1. Methodology & Sources
    1.1. Market Definition
    1.2. Research Scope  
    1.3. Methodology
    1.4. Research Sources
          1.4.1. Primary
          1.4.2. Secondary
          1.4.3. Paid Sources
    1.5. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2021–2028
Chapter 3. Key Insights
Chapter 4. Smart Speaker Market Segmentation & Impact Analysis
    4.1. Smart Speaker Market Material Segmentation Analysis
    4.2. Industrial Outlook
          4.2.1. Market indicators analysis
          4.2.2. Market drivers analysis
                    4.2.2.1. Growing number of smart homes
                    4.2.2.2. Increasing formation of alliances among smart homemakers
                    4.2.2.3. Increasing smart home device demand
                    4.2.2.4. Rising customer preference for technically advanced products
          4.2.3. Market restraints analysis 
                    4.2.3.1. High level of security risk
                    4.2.3.2. Concerns regarding connectivity range
    4.3. Technological Insights 
    4.4. Regulatory Framework
    4.5. Porter’s Five Forces Analysis
    4.6. Competitive Metric Space Analysis
    4.7. Price trend Analysis
    4.8. Covid-19 Impact Analysis

CONTINUED…!!

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