Smart Speaker Market to Grow at 34.44% CAGR to 2023

PUNE, India, January 19, 2018 /PRNewswire/ --

ReportsnReports.com adds Smart Speaker Market Report is forecast to reach $11.79 billion by 2023 from $2.68 billion in 2018 at a CAGR of 34.44% during (2018-2023) driven by increasing number of smart homes, rising disposable income, rapid proliferation of multifunctional devices, growing trend of personalization and huge potential across applications such as smart home, smart office, consumer, and automotive.

Browse 71 Market Data Tables and 47 Figures spread through 150 Pages and in-depth TOC on "Smart Speaker Market by IVA (Alexa, Google Assistant, Siri, Cortana), Component (Hardware (Speaker Driver, Connectivity IC, Processor, Audio IC, Memory, Power IC, Microphone,) and Software), Application, and Geography - Global Forecast to 2023" http://www.reportsnreports.com/reports/1297988-smart-speaker-market-by-iva-alexa-google-assistant-siri-cortana-component-hardware-speaker-driver-connectivity-ic-processor-audio-ic-memory-power-ic-microphone-and-software-application-and-geograp-st-to-2023.html .

The companies profiled in the smart speaker market report are Amazon (US), Harman International (US), Apple (US), Sonos (US), Alphabet (US), Bose (US), Sony (Japan), Onkyo (Japan), Panasonic (Japan), Alibaba (China), Pioneer (Japan), Altec Lansing (US), Lenovo (US), Xioami (China), and SK Telecom (South Korea). This report also covers the following key innovators: Invoxia (France), Avnera (US), Fabriq (US), D&M Holdings (Japan), and Anker (US).

The smart speaker market in RoW expected to grow at highest CAGR between 2018 and 2023. This report covers the following regions: North America, Europe, APAC, and RoW. The market in RoW is expected to grow at the highest CAGR between 2018 and 2023. The Middle East accounts for a substantial share of the smart speaker market in RoW. People in the Middle Eastern countries, especially the UAE and Saudi Arabia, are among the early adopters of smart devices that are convenient and easy to use, thus fueling the demand for smart speakers in RoW.

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The smart speaker market for Siri will grow at highest CAGR between 2018 and 2023. This report covers the following intelligent virtual assistants (IVAs): Alexa, Google Assistant, Siri, Cortana, and others (Xiaowei, DuerOS, Bixby, and AliGenie). The market for Siri is expected to grow at the highest CAGR between 2018 and 2023. This growth can be attributed to Apple's established market for its smart devices. Siri's main advantage over other IVAs is its virtual surround sound technology and deep integration with Apple's product line. The company's strong brand and consumer base are expected to fuel the market for Siri-enabled smart speakers.

The Smart Speaker Market for software to grow at higher CAGR between 2018 and 2023. This report has been segmented on the basis of components into hardware and software. IVA platform in a smart speaker compliments hardware by storing and recalling spatial data and allows live data streaming rather than static data. These functions require software with high computing and functionality, which would require advanced software.

The smart home application held largest share of smart speaker market in 2017. This report has been segmented on the basis of applications into smart home, smart office, consumer, and others (commercial and automotive). Smart home held the largest market share in 2017 owing to changing lifestyle, increasing per capita income, and the inclination of smart home owners toward luxurious entertainment systems.

Order a copy of "Smart Speaker Market by IVA (Alexa, Google Assistant, Siri, Cortana), Component (Hardware (Speaker Driver, Connectivity IC, Processor, Audio IC, Memory, Power IC, Microphone,) and Software), Application, and Geography - Global Forecast to 2023" research report at http://www.reportsnreports.com/purchase.aspx?name=1297988 .

The smart speaker market report covers the following IVAs: Alexa, Google Assistant, Siri, Cortana, and others. Smart speakers are mainly used in smart home, smart office, consumer, commercial, and automotive applications. On the basis of components, this market has been segmented into hardware and software. The market is divided on the basis of regions into North America, Europe, APAC, and RoW.

North America leads smart speaker market in terms of market size. Breakdown of Profiles of Primary Participants:

• By Company Type: Tier 1 - 55%, Tier 2 - 25%, and Tier 3 - 20%
• By Designation: Directors - 50%, Managers - 20%, Vice Presidents - 25%, and Others - 5%
• By Region: North America - 40%, APAC - 15%, Europe - 35%, and RoW - 10%

Another research titled Intelligent Virtual Assistant Market Global Forecast to 2023 says, the intelligent virtual assistant (IVA), the market is expected to be worth $17.72 billion by 2023 from $2.48 billion in 2017, growing at a CAGR of 38.82% between 2017 and 2023. The market of automatic speech recognition held the highest market share in 2016. Consumer Electronics sector accounted for the highest market share in 2016. RoW and Asia-Pacific will be the fastest-growing market during the forecast period. Companies such as Alphabet (US), Amazon (US), Apple (US), Nuance Communications (US), IBM (US), Microsoft (US), Samsung Electronics (South Korea), Inbenta Technologies (US), Baidu (China), Blackberry (US) have been profiled in this 141 pages research report available at http://www.reportsnreports.com/purchase.aspx?name=1216585 .

Explore more reports on Semiconductor and Electronics Market at http://www.reportsnreports.com/market-research/semiconductor-and-electronics/ .

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