NEWS PROVIDED BY Research and Markets Jul 06, 2020, 11:30 ET Via PRNewswire.com
DUBLIN, July 6, 2020 /PRNewswire/ — The “Smart Speaker Market with COVID-19 Impact Analysis by IVA (Alexa, Google Assistant, Siri, DuerOS, Ali Genie), Component (Hardware (Speaker Driver, Connectivity IC, Processor, Audio IC, Memory, Power IC, Microphone) and Software), Application, and Region – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The global smart speaker market size is expected to grow from USD 7.1 billion in 2020 to USD 15.6 billion by 2025, at a CAGR of 17.1%.
The growth of the market can be attributed to the growing demand for smart speaker display, increasing number of smart homes, rising disposable income, and rapid proliferation of multifunctional devices. However, high-security risk and availability of substitutes could pose challenges for the smart speaker market growth.
DuerOS to register the highest CAGR during the forecast period.
Baidu’s current smart devices and new additions all use the company’s DuerOS assistant. DuerOS can support a wide range of hardware devices, such as mobile phones, televisions, speakers, household appliances, automobiles, and robots. The DuerOS smart speaker solution is a customized voice solution for audio output devices with or without a screen.
Hardware to hold the largest share of the smart speaker market throughout the forecast period
Hardware constitutes a major portion of the smart speaker. Currently, smart speakers process a small volume of data, which requires a hardware platform with computing capabilities to support basic functions, such as streaming music, surfing for information, making phone calls, and controlling smart devices.
The smart speaker market in APAC expected to grow at the highest CAGR during the forecast period
The increasing penetration of smart devices in APAC countries, along with the growing market share of Chinese players such as Baidu, Alibaba, and Xiaomi, who have launched smart speakers with local language support, is expected to fuel the demand for smart speakers in the region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Brief Overview of the Smart Speaker Market during the Forecast Period
4.2 Smart Speaker Market for Alexa, by Application
4.3 Market for Consumer Application, by Region
4.4 Market for Smart Home Application, by Intelligent Virtual Assistant
4.5 Market for Hardware, by Component
4.6 Apac Market, by Country and Application
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Number of Smart Homes
5.2.1.2 Growing Trend of Smart Speakers with Display
5.2.1.3 Rising Disposable Income
5.2.1.4 Rapid Proliferation of Multifunctional Devices
5.2.1.5 Growing Trend of Personalization
5.2.2 Restraints
5.2.2.1 Issues Related to Connectivity Range, Compatibility, and Power
5.2.3 Opportunities
5.2.3.1 Increasing Consumer Preference for Technologically Advanced Products
5.2.3.2 Increasing Focus of Companies on Enhancing Customer Experience
5.2.4 Challenges
5.2.4.1 High-Security Risk
5.2.4.2 Availability of Substitutes
5.3 Value Chain Analysis
5.4 Impact of COVID-19 on the Smart Speaker Market
6 Smart Speaker Market, by Intelligent Virtual Assistant
6.1 Introduction
6.2 Alexa
6.2.1 Offers more Features than Other Iva Platforms
6.3 Google Assistant
6.3.1 Google Assistant is Supported by the Data Generated from Its Web Search Engine
6.4 Siri
6.4.1 Increasing Demand for the Homekit Platform in Home Automation Products Creates a Demand for Siri-Enabled Smart Speakers
6.5 DuerOS
6.5.1 Dueros’ Installation Base Passed 400 Million As Voice Queries Topped 3.6 Billion
6.6 Aligenie
6.6.1 Aligenie is Integrated with more than 660 IoT Platforms
6.7 Xiao Ai
6.7.1 Xiao Ai Powering Xiaomi Smart Speakers, Smartphones, and Smart Home Products for the Chinese Market
6.8 Others
7 Smart Speaker Market, by Component
7.1 Introduction
7.2 Hardware
7.2.1 Hardware Constitutes a Major Portion of a Smart Speaker
7.2.2 Processor
7.2.3 Memory
7.2.4 Power Ic
7.2.5 Connectivity Ic
7.2.6 Microphone
7.2.7 Speaker Driver
7.2.8 Audio Ic
7.2.9 Others
7.3 Software
7.3.1 Software Expected to Grow at a Higher CAGR during the Forecast Period
8 Smart Speaker Market, by Application
8.1 Introduction
8.2 Smart Home
8.2.1 Smart Speaker Market for Smart Home will Continue to Hold the Largest Market Size during the Forecast Period
8.3 Consumer
8.3.1 Technology Companies are Collaborating with Third-Party Voice App Developers to Increase the Adoption of Voice-Enabled Smart Devices in Consumer Applications
8.4 Smart Office
8.4.1 Convenience is the Key Factor for the Increasing Demand for Smart Speakers in Office Automation
8.5 Others
9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 High Adoption of Smart Devices with Advanced Technologies, Such As Iot and Ai, Has Pushed Sales Figures for Smart Speakers in the Us
9.2.2 Canada
9.2.2.1 Smart Office Application Presents Opportunities for Smart Speakers
9.2.3 Mexico
9.2.3.1 Smart Home and Automotive Applications Present Opportunities for the Growth of the Smart Speaker Market
9.3 Europe
9.3.1 UK
9.3.1.1 Smart Home Applications Drive the Demand for Smart Speakers
9.3.2 Germany
9.3.2.1 High Penetration of Smart Devices in the Residential Market
9.3.3 France
9.3.3.1 Increasing Demand for Smart Audio Products Driving the Smart Speaker Market
9.3.4 Rest of Europe
9.4 APAC
9.4.1 China
9.4.1.1 Increasing Penetration of Chinese Players in the Smart Speaker Industry
9.4.2 Japan
9.4.2.1 Huge Demand for Consumer Electronics Has Boosted the Demand for Smart Speakers
9.4.3 South Korea
9.4.3.1 Continued Innovation Across Different Korean Ai Assistant Platforms
9.4.4 India
9.4.4.1 Increasing Internet Penetration and Consumer Spending Power will Likely Drive the Market
9.4.5 Rest of APAC
9.5 Rest of the World
9.5.1 Middle East & Africa
9.5.1.1 Increasing Penetration of Smart Devices in the Middle Eastern Countries is Expected to Fuel the Demand for Smart Speakers in the Region
9.5.2 South America
9.5.2.1 Smart Home and Consumer Applications will Propel the Growth of Smart Speakers in South America
10 Competitive Landscape
10.1 Introduction
10.2 Smart Speaker Market Ranking Analysis
10.3 Competitive Scenario
10.3.1 Product Launches and New Product Developments
10.3.2 Partnerships, Agreements, and Collaborations
10.3.3 Expansions
10.4 Competitive Leadership Mapping
10.4.1 Visionary Leaders
10.4.2 Innovators
10.4.3 Dynamic Differentiators
10.4.4 Emerging Companies
11 Company Profiles
11.1 Key Players
11.1.1 Amazon
11.1.2 Alphabet
11.1.3 Baidu
11.1.4 Alibaba
11.1.5 Xiaomi
11.1.6 Harman International
11.1.7 Apple
11.1.8 Sonos
11.1.9 Bose
11.1.10 Lenovo
11.2 Other Key Players
11.2.1 Facebook
11.2.2 Samsung
11.2.3 Sony
11.2.4 Onkyo Corporation
11.2.5 SK Telecom
11.2.6 LG Electronics
11.2.7 Panasonic
11.2.8 Altec Lansing
11.2.9 Libratone
11.2.10 Mobvoi
For more information about this report visit https://www.researchandmarkets.com/r/dpyd54
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