Authored By: Sarah
07 Sep 2023

Smart Speaker Market | Leading Segments, Trends, Drivers and Challenges

Alphabet Inc., Amazon.com Inc., Apple Inc., Lenovo Group Ltd., LG Electronics Inc., Onkyo Corp., Samsung Electronics Co. Ltd., Sony Group Corp. are some of the leading vendors discussed

Global smart speaker market is likely to post an incremental growth of $ 20.72 billion, accelerating at a CAGR of  25.98% during the forecast period. This research provides a detailed analysis of the market segments and geographic landscape. It also offers insights into the various growth factors and challenges that are likely to have a negative impact on market growth. This thorough research will equip clients with the insights necessary to plan and strategize a post-pandemic recovery plan.


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Smart Speaker Market to Grow by $ 20.72 Billion through 2021-2025 | Leading Segments and Market Trends

Smart Speaker Market: Market Segments and Growth Forecasts

This research report will provide insights into the current market share of each segment along with growth projections for the next five years.

  • Market is segmented by End-user (Residential users and Commercial users) and Geography (North America, Europe, APAC, South America, and MEA).
  • 40% of the market growth will originate from North America during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Smart Speaker Market size.

Smart Speaker Market: Trends, Drivers, Challenges

The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.

  • Rapidly increasing unit sales of smart speakers will be a significant factor in driving the growth of the Smart Speaker Market.
  • Growing necessity of smart speakers in households will be instrumental in driving the market growth during the forecast period.
  • Privacy and security threats associated with smart speakers is a hurdle that needs to be crossed on the path to success.

Smart Speaker Market: Vendor Analysis

  • The market is fragmented.
  • Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Apple Inc., Lenovo Group Ltd., LG Electronics Inc., Onkyo Corp., Samsung Electronics Co. Ltd., Sony Group Corp., and Xiaomi Corp. are some of the major market participants.
  • The unprecedented outbreak of COVID-19 in 2020 has had a significant impact on market segments had a ripple effect on various stakeholders. Our vendor analysis and insights will provide you with all the information required to make the most of the opportunities and plan business recovery and growth post the pandemic.

Key Areas Covered in our Report:

  • Smart Speaker Market Split by End-user
    • Residential users
    • Commercial users
  • Smart Speaker Market Split by Geography
    • North America
    • Europe
    • APAC
    • South America
    • MEA

Customer landscape

  • Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • North America - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Competitive scenario
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Alibaba Group Holding Ltd.
  • Alphabet Inc.
  • Amazon.com Inc.
  • Apple Inc.
  • Lenovo Group Ltd.
  • LG Electronics Inc.
  • Onkyo Corp.
  • Samsung Electronics Co. Ltd.
  • Sony Group Corp.
  • Xiaomi Corp.

For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

Browse through some of other related market research reports for more insights:

  • Speakers Market: Accelerating at a CAGR of 14%, the Global Speakers market is expected to grow by $ 28.37 bn during the forecast period.
  • Multimedia Speakers Market: Multimedia speaker market is set to post an incremental growth of $ 15.61 bn during 2020-2024. The market will be progressing at a CAGR of over 11% during the forecast period.
  • Automotive Audio Speakers Market: Technavio research projects the automotive audio speaker market to grow by $ 6.38 bn, accelerating at a CAGR of over 7% till 2025.

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market will accelerate at a CAGR of 25.98%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 20.72 bn through 2021-2025.

     
  3. What is a key factor driving this market?
    Rapidly increasing unit sales of smart speakers will drive market growth over the forecast period.

     
  4. What are the key regions covered in this market research report?
    North America, Europe, APAC, South America, and MEA are the key regions featured in this research report.

     
  5. Which is the leading geographic region for this market:
    40% growth will originate from North America

     
  6. Who are the leading market vendors?
    The leading vendors in this market are Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Apple Inc., Lenovo Group Ltd., LG Electronics Inc., Onkyo Corp., Samsung Electronics Co. Ltd., Sony Group Corp., and Xiaomi Corp.

     
  7. What are the market segments covered in this report?
    The market is segmented by End-user (Residential users and Commercial users) and Geography (North America, Europe, APAC, South America, and MEA)
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