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Global Smart Speaker Market projected to expand at a CAGR of 18.01% during the forecast 2018 to 2026

Jan 10th 2019 at 4:53 AM

In order to study the various trends and patterns prevailing in the concerned market, Market Research Reports Search Engine (MRRSE) has included a new report titled “Smart Speaker Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future.

The “Smart Speaker Market” report provides analysis of the smart speaker market for the period 2016–2026, wherein the years from 2018 to 2026 is the forecast period and 2017 is considered as the base year. Data for 2016 has been included as historical information. The report covers all the trends and technologies playing a major role in the smart speaker market growth over the forecast period. It highlights the drivers, restraints, and opportunities expected to influence the market growth during this period. The study provides a holistic perspective on the market’s growth in terms of revenue and volume (in US$ Mn and Thousand Units) across different geographical regions, namely North America, Europe, Asia Pacific, Middle East & Africa, and South America. The report highlights the key trends affecting the market on a global scale. Furthermore, region wise prominent countries/regions covered in the report includes the U.S, Canada, Germany, France, the U.K, India, China, Japan, GCC countries, South Africa, and Brazil.

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This report analyzes and forecasts the market for smart speakers at the global and regional level. The market has been forecasted based on revenue (US$ Mn) and volume (thousand units) from 2018 to 2026. The study includes drivers and restraints of the global smart speaker market. It also covers the impact of these drivers and restraints for smart speakers during the forecast period.

The report comprises a detailed value chain analysis which provides a comprehensive view of the global smart speaker market. Porter’s Five Forces model for the smart speaker market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.

This research study on the global smart speaker market provides a detailed cross segment and cross country analysis based on the different segments including components, mode of sale, application, and voice assistant type. Based on components, the market is segmented into hardware and software. Hardware component segment is further bifurcated into processor, microphone, connectivity IC, audio system, and others. On the basis of mode of sale, the smart speaker market is bifurcated into online and offline mode of sale. Additionally, 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. Others segment includes the voice assistant system provided by the Alibaba Group and Xiaomi, Inc.

Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, national government documents, statistical databases, and market reports, Factiva, etc.

Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook, etc. These help us to validate and strengthen secondary research findings. These also help to develop the analysis team’s market expertise and understanding.

The report profiles well-established players including, Inc., Apple, Inc., Harman International, Sonos, Inc., Alibaba Group, and Xiaomi, Inc. among others. These are some of the well established players innovating novel smart speakers around the world to compete with other players. For instance, in April 2018, Google, Inc. announced its smart speaker named “Google Home Mini” powered by AI based voice assistant in India to compete with the smart speakers from, Inc. i.e. “Amazon Echo” and “Amazon Echo Dot.” For online selling of its smart speakers, Google, Inc. partnered with Flipkart and Reliance Digital, Croma, and other stores for brick and mortar selling. Furthermore, to beat the competition, the company used competitive offers and pricing i.e. Google Home Mini costs US$ 7.46 lesser than Amazon Echo Dot.

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The Global Smart Speaker Market is segmented as Follows:

Global Smart Speaker Market, by Components

  • Hardware
    • Processor
    • Microphone
    • Connectivity IC
    • Audio System
    • Others
  • Software

Global Smart Speaker Market, by Mode of Sale

  • Online
  • Offline

Global Smart Speaker Market, by Application

  • Commercial
  • Personal

Global Smart Speaker Market, by Voice Assistant Type

  • Amazon Alexa
  • Google Assistant
  • Apple Siri
  • Microsoft Cortana
  • Others

Global Smart Speaker Market, by Geography

  • North America
    • The U.S.
    • Canada
    • Rest of North America
  • Europe
    • France
    • The U.K
    • Germany
    • Rest of Europe
  • Asia Pacific (APAC)
    • India
    • Japan
    • China
    • Rest of APAC
  • Middle East & Africa (MEA)
    • GCC Countries
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Rest of South America

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