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Global Smart speaker Market Insight 2022-01-24 Comments

Smart Speaker
The Smart speaker is forecast to grow rapidly over the next four years. According to the World Knowledge Information (WKI) “Global Smart speaker Professional Survey Report 2021, Forecast to 2026”, due to the rapid development of the Internet and AI technology, the emergence of smart speakers It has brought huge changes to consumers’ lives. The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 25.6% base on WKI regression analysis model.
Analysts’ Viewpoint:
“Intelligent voice assistants with smart speakers have quietly changed consumers’ living habits.” said Ciel, Senior analyst, Consumer Goods Market Research Center in WKI.” The smart speaker is a wireless speaker enabled by Wi-Fi, Bluetooth, or other wireless protocols and powered by a virtual assistant, which is determined by artificial intelligence. Artificial intelligence assists consumers in implementing some operations, which has gradually become A trend that consumers pursue, this trend has swept almost every age group, especially millennials.”
Market insight:
The rise in per capita income, high adoption of smart homes, and growth of dual-income households will result in the increasing spend on smart devices in the global market. The growing awareness about innovations and penetration of connected devices will create a demand for wireless speakers and other such products in the global market. The integration of voice-assistance technology in household appliances will augment the evolution of the global smart speaker market
Competition Landscape:
This report provides a detailed analysis of several leading smart speaker manufacturers, which include Alphabet Inc., Amazon.com Inc., LG Electronics Inc., Samsung Electronics Co. Ltd., and Sony Corp. The increasing penetration of smart devices in APAC countries, along with the rising market share of Chinese players such as Baidu, Alibaba, and Xiaomi, who have launched smart speakers with local language support, is expected to fuel the demand for smart speakers in the region.
Segmentation of Smart speaker Market:
The global smart speaker market by end-users is segmented into residential users and commercial users. The residential end-users dominated the majority of the market share in 2020. These products are used by individuals who buy smart devices for home use or residential purposes in the global market. Some of the household are installing more than one product at home, thereby, boosting the revenues in this segment in the global market.
Smart speaker Market: Regional Analysis:
The global smart speaker market by geography is segmented into APAC, Europe, North America, and ROW. The US leads the market share in North America in the global smart speaker market. The market share in the Asia-Pacific region will grow substantially, and market share is expected in the future Beyond the United States.
Cagr: 25.6%
Largest share area:North America
Largest share country:USA