Global Smart Voice Assistant Speaker Market Overview:
The Smart Voice Assistant Speaker is a kind of speaker, operated on voice command with an integrated virtual assistant that offers intuitive activities and without hands enactment with the assistance of one or several words. In other words, it is a voice-based device that depends on voice commands supported by artificial intelligence (AI) in order to make verbal interaction with the end-user for performing a variety of tasks. Currently, these speakers are integrated into different items such as cell phones, car navigation systems, and other types of household devices. The technology for smart voice assistant speakers is evolving at a rapid pace and the result of this is the rapid increase in the use of this technology. It will likewise expand its space of utilizations and empower more spaces of regular daily existence to be constrained by voice order.
- Increase in adoption of Smart Voice Assistant Speaker across the globe
- Advancement in voice-based artificial intelligence (AI) technology
- The high initial cost of a smart voice assistant speaker could outweigh savings
- Different issues related with the security and safety
- Development technology that provides protection from different cyber attacks
- Increase adoption of smart voice assistant speakers in emerging countries
- Development of cost-efficient and highly secured technology integration
- Lack of trust and privacy issues
The leading players in the market to avail competitive advantages makes new collaborations and acquisition to improve their technology and deliver ease of use to the customer. Also, companies are introducing new technology advancement in the market that offers comfort and convenience without much complexity.
Some of the key players profiled in the report are Amazon (United States), Google (United States), Xiaomi (China), Baidu (China), Apple (United States), Sonos (United States), Harman International (United States), Ximalaya Network (China), Samsung (South Korea) and Sony (Japan). Additionally, following companies can also be profiled that are part of our coverage like Lenovo (Hong Kong), Creative Technologies (Singapore), Rokid (United States), Panasonic (Japan) and Huawei (China). Analyst at AMA Research see United States Players to retain maximum share of Global Smart Voice Assistant Speaker market by 2026.
Latest Market Insights:
On 21 Nov 2019, Sonos owns Snips, a Paris-based “private-by-design” AI voice platform with the intent of making the voice experience on Sonos even better. This acquisition will add to customers’ ease of use and control to differentiate an end-to-end Sonos experience for customers. This tailored experience aligns with external research showing that the most popular use for voice assistants is to access music.
On 13 Oct 2020, Apple unveiled the HomePod mini, the newest addition to the HomePod family that delivers impressive sound, the intelligence of Siri to get things done, and a smart home experience that offers comfort and convenience without complexity. HomePod mini is the ultimate smart speaker for anyone with an Apple device that works effortlessly with iPhone to hand off the music, answer calls, or deliver personalized listening suggestions.
What Can be Explored with the Smart Voice Assistant Speaker Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Smart Voice Assistant Speaker Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Smart Voice Assistant Speaker
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Smart Voice Assistant Speaker market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Smart Voice Assistant Speaker market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Industrial Associations, IT Films, Government Regulatory Bodies and Private Research Institutions.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Smart Voice Assistant Speaker Market?
The Smart Voice Assistant Speaker market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Smart Voice Assistant Speaker Market?
Top performing companies in the Global Smart Voice Assistant Speaker market are Amazon (United States), Google (United States), Xiaomi (China), Baidu (China), Apple (United States), Sonos (United States), Harman International (United States), Ximalaya Network (China), Samsung (South Korea) and Sony (Japan), to name a few.
3. What trending factors would impact Smart Voice Assistant Speaker Market growth most?
"The growing push for the digital economy in developing economies
" is seen as one of major influencing trends for Smart Voice Assistant Speaker Market during projected period 2020-2026.