Page 1

Smart Speakers Market Analysis, Size, Growth, Share & Forecast to 2025 | Grand View Research Inc.

“Smart Speakers Market Worth $39.3 Billion By 2025 | CAGR: 38.7%�

The global smart speakers market size is expected to reach USD 39.3 billion by 2025 at a 38.7% CAGR over the forecast period, according to a study conducted by Grand View Research, Inc. The ability of a smart speaker to function as a centralized hub that can adequately control other smart home devices is expected to increase their popularity among consumers. The market is anticipated to witness significant growth over the forecast period owing to various technological advancements. One of the recent technological advancements is Echo Look, launched by Amazon in June 2018. Echo Look is integrated with a camera and programmed to function as a fashion advisor by capturing user’s images. Similarly, in March 2017, Google announced its strategy to incorporate smart displays in their speakers. The Google Assistant Smart Displays can be used to watch recipes, refer to Google maps, and shop online with the visual aid of a screen. Furthermore, increasing penetration of broadband services, coupled with growing integration of AI technologies, is anticipated to bolster the smart speakers market over the forecast years. Another key factor driving the market is price differentiation. Various smart speaker providers offer their products at varied costs to maintain consumer preferences toward their products. Additionally, smart speakers are expected to be the fastest-growing products among other smart devices included in the consumer electronics portfolio.

Despite growing consumer interest in smart speakers, data security and privacy continue to be primary concerns. These devices gather personal information pertaining to contact details, bank account number, and login credentials from Google Home, which has access to Gmail where users store their personal details. These security concerns may hinder market growth. However, with development of security compliances, the market is expected to overcome this challenge and exhibit an upward growth trend.

Follow Us:


For Latest research study :@ https://www.grandviewresearch.com/industry-analysis/smart-speakers-market

Further key findings from the study suggest: • Amazon Alexa dominated the market in 2017 and is expected to register a CAGR of more than 19.0% over the forecast years. This growth is ascribed to its massive popularity among consumers and its advanced features such as machine learning and semi-supervised learning techniques •

Several emerging players are entering into collaborations with existing participants to enhance their market presence. For instance, in July 2018, Pioneer Electronics announced its partnership with Amazon, Inc. to introduce Elite Smart Speaker F4 (VA-FW40) enabled with Amazon Alexa voice assistant. Pioneer Electronics is engaged in providing home entertainment products

The smart speakers market is marked by presence of industry participants such as Apple, Inc.; Amazon; Google; and Xiaomi. These players incorporate effective strategies to maintain their presence and gain popularity among users. For instance, after Amazon introduced its smart speaker in U.S., Xiaomi, Chinese electronics giant, introduced its smart speakers and is currently one of the pioneers in the consumer electronics market. The company holds more than 5% share in the smart speakers market.

Grand View Research has segmented the global smart speakers market based on virtual personal assistants (VPA) and region: Smart Speakers Virtual Personal Assistant Outlook (Volume, Million Units; Revenue, USD Million, 2015 2025) • Amazon Alexa •

Google Assistant

Apple Siri

Others

Table of Contents Chapter 1. Methodology and Scope 1.1. Research Methodology 1.2. Research Scope & Assumptions 1.3. List of Data Sources Chapter 2. Executive Summary 2.1. Smart Speakers Market - Industry Snapshot & Key Buying Criteria, 2015 - 2025 2.2. Market Summary 2.3. Smart Speakers Market, 2015 - 2025 Chapter 3. Smart Speakers Industry Outlook 3.1. Market Segmentation

Follow Us:


3.2. Market Size and Growth Prospects, 2015 - 2025 3.3. Value Chain Analysis 3.4. Market Dynamics 3.4.1. Market driver analysis 3.4.1.1. Growing consumer inclination toward smart homes 3.4.1.2. Technological advancements 3.4.2. Market restraint/challenge analysis 3.4.2.1. Consumer privacy & security concerns 3.4.3. Market opportunity analysis 3.4.3.1. Growing opportunities in the automobile industry & healthcare sector 3.5. Key Opportunities Prioritized Continue…………………. About Grand View Research, Inc.: Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc Phone: 1-415- 349-0058 Toll Free: 1-888- 202-9519 Email: sales@grandviewresearch.com For More Information: http://www.grandviewresearch.com

Follow Us:

Profile for Grand View Research

Smart Speakers Market Boosting The Growth, Trends, And Efficiencies Forecast 2025  

The global smart speakers market size is expected to reach USD 39.3 billion by 2025 at a 38.7% CAGR over the forecast period, according to a...

Smart Speakers Market Boosting The Growth, Trends, And Efficiencies Forecast 2025  

The global smart speakers market size is expected to reach USD 39.3 billion by 2025 at a 38.7% CAGR over the forecast period, according to a...

Advertisement