GLOBAL SMART SPEAKERS MARKET FORECAST 2019-2027
• The global CAGR of the smart speaker market is expected to be 24.91% during the forecasted period 2019-2027. Even though it is an emerging market, competition is rising rapidly as companies are coming up with new launches. • A smart speaker is a type of wireless speaker and voice command device with an integrated virtual assistant (artificial intelligence) that offers interactive actions and hands-free activation with the help of one “hot word”.
• The global smart speaker market is segmented by an intelligent virtual assistant, end users and distribution channel. Intelligent virtual assistant is sub-divided into Alexa, google assistant, Siri and Cortana and others. • The end-users segment of global smart speakers market includes personal and commercial. Distribution channel segment includes online and offline channels.
“The Global Smart Speakers market is anticipated to grow with 24.91% CAGR during the forecast period 2019-2027.�
The expected CAGR of the North American smart speaker market for the forecast period of 20192027 is 23.69%.
The European market of smart speakers is poised to grow at a CAGR of 25.38% over the forecasted period of 20192027.
The Asia Pacific smart speakers market is expected to have a CAGR of 26.10% over the forecast period of 2019-2027.
Prominent players in the global smart speaker market are Alibaba Group Holding Limited, Alphabet Inc., Amazon.Com Inc., Apple Inc., Bose Corporation, Lg Corporation, Panasonic Corporation, Pioneer Corporation, Plantronics Inc., Samsung Electronics Co. Ltd., Sonos and Xiaomi Corporation.