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Global Smart Speaker Market is expected to be more than USD 18 Billion by the end of year 2024

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Smart speaker is the newest hi-tech innovation in the field of audio systems, which has changed the way people use speakers. Smart speaker is a wireless speaker powered by artificial intelligence virtual assistant and is facilitated by Bluetooth, Wi-Fi or other wireless features. Smart speaker is the leading segment of today’s audio systems as it performs different tasks including news reading, weather update, listening music, placing an order to a website, scheduling reminders, integrating smart home devices and so on, just on voice command. These smart features of a smart speaker offer an edge to dominate consumer technology market over other substitute products and services.

Global Smart Speaker Market is expected to be more than USD 18 Billion by the end of year 2024

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Smart speaker is a key assimilation of improved microphones, automated speech recognition software and natural language processing (NLP), which help smart speaker to identify and process the voice command of the user with absolute precision. Growing smart home devices demand, penetration of artificial intelligence and consumer demand for easy, portable, convenient and smart devices are some of the major factors, which are driving the growth of smart speakers market globally. Besides, collaborations and partnerships among the smart homemakers and manufacturers of smart speakers further expected to boost the smart speakers market over the upcoming years. In contrary, the potential exploitation of consumers’ data privacy by the manufacturers of smart speakers and the threat of illegitimate cyber-attacks are among the major issues that would hinder the growth of smart speakers market as smart speakers offer personalized service to their users by collecting and analyzing user’s data.

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Renub Research report titled “Smart Speaker Market & Volume By Platform (Amazon Alexa, Google Assistant, Apple Siri, Others), Countries (United States, United Kingdom, Germany, China, Others), Regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Middle East & Africa), Companies (Amazon, Apple, Google, Microsoft, Xiaomi)” provides a complete analysis of global smart speaker market. 

Amazon Alexa holds majority of Market in the Global Smart Speaker Segment

On the basis of platform, global smart speaker market is further segmented into Amazon Alexa, Google Assistant, Apple Siri, Others. Amazon Alexa holds majority of market share in the global smart speaker market. 

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North America is dominates Smart Speaker Market Globally

In this report, we have done comprehensive analysis of smart speaker volume and market by regions. The covered regions are; North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Middle East & Africa. The demand of smart speaker in North America is quite huge and its sales are growing at rapid pace.


United States is the leading Country in Smart Speaker Market 
 
Smart speaker market is growing across all parts of the world. Market growth rates varies in the countries covered in the report United States, United Kingdom, Germany, China, Others. United States is the leading country in smart speaker market globally. 


Companies Analysis
 
Amazon, Apple, Google, Microsoft, Xiaomi are some of the top companies that are working in smart speaker market. All the companies have been studied from the following points. 

  • •    Overview
    •    Initiatives & Recent Developments
    •    Sales

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Segments - Global Smart Speaker Market & Volume

  • •    Smart Speaker Volume
    •    Smart Speaker Market


Platforms - Global Smart Speaker Market & Volume

  • •    Amazon Alexa
    •    Google Assistant
    •    Apple Siri
    •    Others


Countries - Global Smart Speaker Market & Volume

  • •    United States
    •    United Kingdom
    •    Germany
    •    China
    •    Others

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Regions - Global Smart Speaker Market & Volume

  • •    North America
    •    Latin America
    •    Eastern Europe
    •    Western Europe
    •    Asia Pacific
    •    Middle East & Africa


Companies Covered

  • •    Amazon
    •    Apple
    •    Google
    •    Microsoft
    •    Xiaomi 

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Key Topics Covered:

1.     Introduction

2.     Research & Methodology

3.     Executive Summary

4.     Growth Driver – Smart Speaker

4.1    Growing Market of Smart Homes
4.2    Growing GDP per Capita
4.3    Rising Internet Penetration across the Globe

5.     Challenges– Smart Speaker

5.1    Issues related to Compatibility and Power
5.2    Privacy and Security Concern
5.3    Localization of Languages
5.4    High Cost of the Devices

6.     Opportunities – Smart Speaker

6.1    Increasing Focus of Companies on Enhancing Customer Experience
6.2    Establishment of 5G Infrastructure
6.3    Advancement of Natural Language Processing (NLP)

7.     Comparison of Products – Smart Speaker

8.     Smart Speaker Volume & Market Analysis

8.1    Smart Speaker Market
8.2    Smart Speaker Volume

9.     Market Share – Smart Speaker Analysis

9.1    By Platform 
9.2    By Country
9.3    By Regions

10.     Volume Share – Smart Speaker Analysis

10.1    By Platform
10.2    By Country
10.3    By Regions

11.     Platform – Smart Speaker Market

11.1    Amazon Alexa 
11.2    Google Assistant
11.3    Apple Siri 
11.4    Others

12.     Platform – Smart Speaker Volume

12.1    Amazon Alexa 
12.2    Google Assistant
12.3    Apple Siri
12.4    Others

13.     Regions – Smart Speaker Market

13.1    North America
13.2    Latin America
13.3    Eastern Europe
13.4    Western Europe
13.5    Asia Pacific
13.6    Middle East & Africa

14.     Regions – Smart Speaker Volume

14.1    North America
14.2    Latin America
14.3    Eastern Europe
14.4    Western Europe
14.5    Asia Pacific
14.6    Middle East & Africa

15.     Country – Smart Speaker Market

15.1    United States
15.2    United Kingdom
15.3    Germany
15.4    China
15.5    Others

16.     Country – Smart Speaker Volume

16.1    United States
16.2    United Kingdom
16.3    Germany
16.4    China
16.5    Others

17.     Investments

18.     Companies Covered

18.1    Amazon
18.2    Apple
18.3    Google
18.4    Microsoft
18.5    Xiaomi 

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