The global smart sound and gateway market size reached US$ 43.0 Billion in 2023. Looking forward, the market is projected to reach US$ 232.7 Billion by 2032, exhibiting a growth rate (CAGR) of 20.64% during 2023-2032.
A smart speaker refers to a wireless, internet-enabled device that offers a smart audio playback using several types of connectivity for additional functions. It is equipped with a unique, patented technology known as smart sound that recognizes, responds to voice commands, and quickly manipulates music content. It is commonly used to stream live news, read e-books, play music, and set reminders and alarms.
On the other hand, a gateway is a physical platform or device that serves as the connection point between sensors and intelligent devices and the cloud and controllers. Smart sound and gateway provide dedicated audio and voice processing to support voice wake functions and reduce device power consumption. Besides this, it assists in clear voice recognition, uncompromised sound, great battery life, and enhanced audio playback.
In line with this, smart speakers with a display are projected to gain traction in the upcoming years as they can offer a centralized platform to control multifunctional devices, which, in turn, has prompted various prominent vendors to spread their presence in the segment through the integration of advanced technologies. Apart from this, the widespread adoption of Google Assistant, a virtual assistant software application developed by Google, to provide accurate information on search and maps and translate other languages is providing an impetus to the market growth.
Furthermore, extensive research and development (R&D) activities to launch innovative smart sound and gateway systems with advanced features, functions, and compatibility with other devices are favoring the market growth. Other factors, including the increasing expenditure capacities of consumers, improving lifestyles, and integration of Internet of Things (IoT) and artificial intelligence (AI) technology, are supporting the market growth.
2. What is the expected growth rate of the global smart sound and gateway market during 2024-2032?
3. What are the key factors driving the global smart sound and gateway market?
4. What has been the impact of COVID-19 on the global smart sound and gateway market?
5. What are the key regions in the global smart sound and gateway market?
6. Who are the key players/companies in the global smart sound and gateway market?
A smart speaker refers to a wireless, internet-enabled device that offers a smart audio playback using several types of connectivity for additional functions. It is equipped with a unique, patented technology known as smart sound that recognizes, responds to voice commands, and quickly manipulates music content. It is commonly used to stream live news, read e-books, play music, and set reminders and alarms.
On the other hand, a gateway is a physical platform or device that serves as the connection point between sensors and intelligent devices and the cloud and controllers. Smart sound and gateway provide dedicated audio and voice processing to support voice wake functions and reduce device power consumption. Besides this, it assists in clear voice recognition, uncompromised sound, great battery life, and enhanced audio playback.
Smart Sound and Gateway Market Trends
The increasing consumer propensity towards the adoption and usage of connected devices across the globe is creating a positive outlook for the market. Additionally, the rising penetration of high-speed internet and the growing access to smartphones is acting as another growth-inducing factor. Moreover, the increasing demand for smart speakers with virtual assistance to play music, provide information, deliver news and sports scores, weather, and control smart homes is positively influencing the market.In line with this, smart speakers with a display are projected to gain traction in the upcoming years as they can offer a centralized platform to control multifunctional devices, which, in turn, has prompted various prominent vendors to spread their presence in the segment through the integration of advanced technologies. Apart from this, the widespread adoption of Google Assistant, a virtual assistant software application developed by Google, to provide accurate information on search and maps and translate other languages is providing an impetus to the market growth.
Furthermore, extensive research and development (R&D) activities to launch innovative smart sound and gateway systems with advanced features, functions, and compatibility with other devices are favoring the market growth. Other factors, including the increasing expenditure capacities of consumers, improving lifestyles, and integration of Internet of Things (IoT) and artificial intelligence (AI) technology, are supporting the market growth.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global smart sound and gateway market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on virtual assistant and solution.Breakup by Virtual Assistant:
- Alexa
- Google Assistant
- Siri
- AliGenie
- Xiao AI
- Multiple Virtual Assistant Support Speakers
- Others
Breakup by Solution:
- Smart Speaker (Only Hardware)
- Hearables (Only Hardware)
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
Key Questions Answered in This Report
1. What was the size of the global smart sound and gateway market in 2023?2. What is the expected growth rate of the global smart sound and gateway market during 2024-2032?
3. What are the key factors driving the global smart sound and gateway market?
4. What has been the impact of COVID-19 on the global smart sound and gateway market?
5. What are the key regions in the global smart sound and gateway market?
6. Who are the key players/companies in the global smart sound and gateway market?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Smart Sound and Gateway Market
6 Market Breakup by Virtual Assistant
7 Market Breakup by Solution
8 Market Breakup by Region
9 SWOT Analysis
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Amazon.com Inc.
- Apple Inc.
- Baidu Inc.
- Bose Corporation
- Google LLC (Alphabet Inc.)
- Plantronics Inc. (HP Development Company L.P)
- Sonos Inc.
- Xiaomi Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 43 Billion |
| Forecasted Market Value ( USD | $ 232.7 Billion |
| Compound Annual Growth Rate | 20.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
