Smart Speaker Market 2019-2023

  • Published: Jul 2019
  • Pages: 123
  • SKU: IRTNTR31692
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The global smart speaker market size will grow by USD 14.35 billion during 2019-2023. This market report provides a detailed analysis of the market by end-user (residential users and commercial users) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Alphabet Inc., Amazon.com Inc., LG Electronics Inc., Samsung Electronics Co. Ltd., and Sony Corp.

Some of the key findings from our smart speaker market forecast report are summarized below

Smart Speaker Market

 

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Global Smart Speaker Industry Overview

The popularity of voice commerce is growing across the world. Voice commerce technology allows consumers to order and purchase products online by giving voice commands to smart speakers through virtual assistants such as Google Assistant and Amazon Alexa. This technology eliminates the need for keyboard, mouse, or smartphones, thereby enabling hands-free operation, faster response and results, and ability to do other tasks while ordering. Moreover, innovative options present in smart speakers make online purchases convenient, easier, and faster. Thus, the increasing popularity of voice commerce will be one of the critical smart speaker market trends responsible for the growth of the market during the forthcoming years.

Factors such as the increasing number of home renovation projects, rising popularity of digital streaming and over-the-top (OTT) platforms, and easy integration with other smart devices will boost the demand for smart speakers. Consumers are making significant investments in making their homes digitally connected. This can be achieved by installing various smart home devices, including smart speakers in home areas such as bedrooms, living rooms, and kitchens. Smart speakers can also act as a hub for connecting with various digital platforms, TVs, and other devices. Moreover, smart speakers provide voice control features for operating digital streaming programs. Hence, with the rising popularity of digital content and subscription services, such as Amazon Prime, Netflix, and YouTube, the demand for smart speakers will also grow, especially from residential users. Thus, the growing necessity of smart speakers in households will be a significant factor responsible for the growth of the market at a CAGR of almost 24% during the forecast period.

Top Smart Speaker Companies Covered in this Market Research Report

The global smart speaker market is fragmented. To help clients improve their market positions, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this smart speaker market research report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the upcoming growth opportunities.

The report offers a detailed analysis of several leading smart speaker manufacturers, including:

  • Alphabet Inc.
  • Amazon.com Inc.
  • LG Electronics Inc.
  • Samsung Electronics Co. Ltd.
  • Sony Corp.

Smart Speaker Market Segmentation Based on End-User

  • Residential users
  • Commercial users

The residential users segment will account for the highest smart speaker market share. The rising necessity of smart speakers in households and the increasing number of home renovation projects are expected to boost the demand of smart speakers from residential users. This report provides an accurate prediction of the contribution of all the segments to the growth of the smart speaker market size.

Smart Speaker Market Segmentation Based on Geographic Region

  • APAC
  • Europe
  • MEA
  • North America
  • South America

With a complete study of the growth opportunities for the companies, it has been identified that North America will account for the highest share of the smart speaker market throughout the forecast period. Factors such as the growing necessity of smart speakers in households, upgrading of regular homes to smart homes, and increasing construction of new residential buildings will fuel smart speaker market growth in this region.

Key Highlights of the Global Smart Speaker Market for the Forecast Years 2019-2023:

  • CAGR of the market during the forecast period 2019-2023
  • Detailed information on factors that will accelerate the growth of the smart speaker market during the next five years
  • Precise estimation of the global smart speaker market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the smart speaker industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on several vendors
  • Comprehensive details of factors that will challenge the growth of smart speaker companies

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface
  • 2.2 Preface
  • 2.3 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2018
  • Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY END-USER

  • Market segmentation by end-user
  • Comparison by end-user
  • Residential users - Market size and forecast 2018-2023
  • Commercial users - Market size and forecast 2018-2023
  • Market opportunity by end-user

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2018-2023
  • Europe - Market size and forecast 2018-2023
  • APAC - Market size and forecast 2018-2023
  • South America - Market size and forecast 2018-2023
  • MEA - Market size and forecast 2018-2023
  • Key leading countries
  • Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 11: MARKET TRENDS

  • Increasing popularity of voice commerce
  • Strong distribution network between manufacturers and retailers
  • Growth in prominence of smart displays

PART 12: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 13: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Alphabet Inc.
  • Amazon.com Inc.
  • LG Electronics Inc.
  • Samsung Electronics Co. Ltd.
  • Sony Corp.

PART 14: APPENDIX

  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

 

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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