The following companies as the key players in the smart home speaker market in US: Alphabet, Amazon.com, Invoxia, and Lenovo. Other Prominent Vendors in the market are: COWIN Technology, FABRIQ, Interactive Voice, LG Electronics, Mattel, OMAKER, Pan Ocean Technology, and Sony Mobile Communications.
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Complete report on the Smart Home Speaker Market in US Research Report spread across 59 pages, profiling 12 companies with table of content is now available at www.reportsnreports.com/contacts/d…aspx?name=1134901 .
Smart Home Speaker Market in US 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts.
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The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is increase in availability of multifunctional products. Rapidly evolving technology helps improve product quality and provides user-friendly designs.
The demand for technologically advanced products has compelled many vendors to develop multifunctional products. For instance, Mattel offers Aristotle, a multifunctional product with a baby monitor, speaker with a voice-activated smart assistant, smart light, HD Wi-Fi camera, and sound machine.
This multifunctional product automatically recognizes when babies wake up and soothes them to sleep with white noise, lullaby, and a favorite song or a night-light. It also logs wet diapers and feedings through voice commands and a phone app.”
According to the report, one of the major drivers for this market is Increase in buying power of millennials. People born between 1980 and 2000 are called millennials.
They form a significant percentage of the population in the US and earn high incomes even though most of them are in their twenties. Thus, millennials have become a major target segment for a wide range of businesses, including smart connected products such as smart home speakers.
Millennials are more tech savvy compared with other generations. They have the ability to adapt quickly to technology and can access just about any service they could possibly need with a click of a button.
Most of the millennials use two to three tech devices at least once daily. The increase in adoption of smartphones and internet penetration among the millennials are driving the market for smart home speakers.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Further, the report states that one of the major factors hindering the growth of this market is Connectivity and app-related issues. Smart home speakers are highly dependent on internet connectivity.
Users have to be connected to the internet to use the app and communicate with smart home speakers. Smart home speakers are also connected to sensors.
Issues with sensor connectivity lead to a disconnection between the app and smart home speaker. In such situations, users are unable to detect the device on their smartphones through the app and have to wait till connectivity issues get resolved.
Some users also face problems with Wi-Fi and firmware updates. They have to continuously refresh the app till they detect the device on their smartphones.
A sudden crash of app is also a factor that can cause connectivity issues between smartphones and smart home speakers. Power supply is another challenge for the customers.
The entire control between smart home speakers and the app is dependent on Wi-Fi. Fluctuations in power supply can cause a disconnection.
These issues hinder the growth of the market.
This report covers the present scenario and the growth prospects of the smart home speaker market in US for 2017-2021. To calculate the market size, the report considers the number of units shipped by various vendors in the market.
Wireless speakers use Bluetooth technology for data transfer. Wireless portable speakers use radio frequency to transmit the audio signals instead of using audio cables.
For the transfer of data, the receiver should be within the defined range of wireless transfer capability of the speaker. Some of the devices in the growing wireless speaker market include direct current (DC)-only Bluetooth speakers, alternating current (AC)-only Bluetooth speakers, and AC/DC Bluetooth speakers.
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this industry?
What are the challenges to market growth?
Who are the key vendors in this industry space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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