Smart Speaker Market Key Players, Trends, Growth Opportunities and Industry Forecast till 2025
“The market is projected to witness significant growth owing to the increasing penetration of smart home worldwide. Factors like growing network connectivity and need for optimal customer satisfaction are expected to drive the market growth�
Global Smart Speaker Market is predicted to grow significantly in the coming years owing to the increasing number of smart homes, increasing disposable income and speedy proliferation of multinational devices. Smart speakers are the wireless devices that use different types of connectivity for additional functions. They have special features like enhance ease of use, compatibility to multiple types of audio sources and offer additional functionality. The smart speakers can perform several tasks like performing personal assistant tasks (reciting to-dos and calendar events), control smart home devices and home entertainment systems. Smart speakers are not only the new way to control music but they also act as voice assistant and smart home controllers that make them optimal command centers for smart home. The market is projected to witness significant growth owing to the increasing penetration of smart home worldwide. Factors like growing network connectivity and need for optimal customer satisfaction are expected to drive the market growth. Leading firms are incorporating these devices with intelligent home appliances like Ikea tube lights, humidifiers, saltshakers and thermostats. Due to increasing demand for personalization, smart speakers market is expected to witness surge in demand. Majority of early adopters of these devices are affluent and are well aware of such innovations. However, the devices are also gaining attraction in other demographic groups like young generation X and children. These devices allow higher rate of personalization that appeals the end-users and thereby impact the smart speaker market growth.