Global Smart Speaker Market | Size, Trends, Share, Outlook, Revenue, Forecast, Analysis, Value, Segmentation, Industry & COVID-19 Impact

Global Smart Speaker market report comprehensively covers the market by product type, by end users, by distribution channel, by region. Global Smart Speaker market report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Global Smart Speaker Market Synopsis

The global smart speaker market is likely to anticipate rapid growth in the coming years on the back of rapid rate of urbanization and growing number of smart cities across the globe. Steadily growing rate of household disposable income, growing preference for luxury living and villas would further complement the demand of smart speaker market. The global smart speaker market growth could be attributed to increase in internet users globally.

According to the publisher, Global Smart Speaker Market size is projected to grow at a CAGR of 15.4% during 2022-2028 many countries have imposed lockdown which have contributed to low market demand for majority of appliances however, smart speaker market registered substantial growth due to the lockdown restrictions imposed across the country which led to growth in virtual assistants as people were spending more time at home, thereby demand for smart entertainment products have witnessed a huge demand. Moreover, The U.S. Department of Energy (DOE) announced in October 2021 that it would invest $61 million in 10 pilot projects to deploy new technologies to upgrade thousands of homes and workplaces into smart buildings. Henceforth, these smart buildings initiatives would propel the growth of smart speakers globally in the years ahead.

Market by Intelligent Virtual Assistant

By Intelligent Virtual assistant, Google assistant would continue to generate the most revenues globally owing to wider language support and also it has been used by third parties like Sonos, Bose, JBL, Sony etc and it is available in cost effective prices. At the second place, Alexa has generated the highest revenue and expected to grow at highest rate in the coming years.

Market by End Users

By End Users residential sector garnered the maximum revenue on account of increase in housing projects. In the forecasted period residential sector would continue to dominate on the back of establishment of 8 million homes in India and 54 smart projects in UK consisting of more than 40,000 homes.

India is anticipated to dominate the Asia Pacific smart speaker market over the projected period due to rapid urbanization. Additionally, India's government is spending about $30 billion on 4G and 5G infrastructure, strengthening the country's digital infrastructure. Henceforth, propelling the growth of smart speaker in India in years ahead.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2018 to 2028.
• Base Year: 2021
• Forecast Data until 2028.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Historical Data of Global Smart Speaker Market for the period 2018-2028
• Market Size and Forecast of Global Smart Speaker Market until 2028
• Historical Data of North America, Latin America, Europe, Asia Pacific and Middle East and Africa Smart Speaker Market Revenues, for the Period 2018-2021
• Market Size & Forecast of North America, Latin America, Europe, Asia Pacific and Middle East and Africa Smart Speaker Market Revenues until 2028
• Historical Data of North America, Latin America, Europe, Asia Pacific and Middle East and Africa Smart Speaker Market Revenues, By Intelligent Virtual Assistant, for the Period 2018-2021
• Market Size & Forecast North America, Latin America, Europe, Asia Pacific and Middle East and Africa Smart Speaker Market Revenues, By Intelligent Virtual Assistant, until 2028
• Historical Data of North America, Latin America, Europe, Asia Pacific and Middle East and Africa Smart Speaker Market Volume, By Intelligent Virtual Assistant, for the Period 2018-2021
• Market Size & Forecast of North America, Latin America, Europe, Asia Pacific and Middle East and Africa Smart Speaker Market Volume, By Intelligent Virtual Assistant, until 2028
• Historical Data of North America, Latin America, Europe, Asia Pacific and Middle East and Africa Smart Speaker Market Revenues, By End Users, for the Period 2018-2021
• Market Size & Forecast of North America, Latin America, Europe, Asia Pacific and Middle East and Africa Smart Speaker Market Revenues, By End Users, until 2028
• Historical Data of North America, Latin America, Europe, Asia Pacific and Middle East and Africa Smart Speaker Market Revenues, By Distribution Channel, for the Period 2018-2021
• Market Size & Forecast North America, Latin America, Europe, Asia Pacific and Middle East and Africa Smart Speaker Market Revenues, By Distribution Channel, until 2028
• Opportunity Assessment of North America, Latin America, Europe, Asia Pacific and Middle East and Africa
• Global Smart Speaker Market Competitive Benchmarking
• Global Smart Speaker Market Drivers and Restraints
• Global Smart Speaker Market Trends & Evolution
• Global smart speaker Industry Life Cycle
• Porter’s Five Force
• Global Smart Speaker Market Ranking. By Company
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Product Type

• Amazon Alexa
• Google Assistant
• Siri
• Others (Cortana, Tmall Genie)

By End Users

• Residential
• Commercial

By Distribution Channel

• Online
• Offline

By Region

• North America
• Latin America
• Middle East and Africa
• Europe
• Asia Pacific