Smart Speaker Market to hit 100 million units by 2024: - PowerPoint PPT Presentation

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Smart Speaker Market to hit 100 million units by 2024:


Request Sample of Report @ The smart speaker market is expected to grow at a significant pace over the forecast timeframe owing to the growing proliferation of smart homes across the globe. Factors such as high network connectivity and growing need to increase consumer convenience are anticipated to drive the market. Several device manufacturers are investing in improving the functionality of legacy systems beyond playing music. This, coupled with increasing demand for wireless devices will escalate the industry size. – PowerPoint PPT presentation

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Title: Smart Speaker Market to hit 100 million units by 2024:

Global Smart Speaker Industry to hit 100 million
units by 2024
Fuel Cell Market size worth 25.5bn by 2024
Key Insights of Smart Speaker Market
  • The foray of smart speaker market has created
    ripples of anticipation among modern-day
    consumers, given that an analogy has always
    existed between the Internet of Things and
    consumer preferences. With more and more smart
    products making inroads in the smart industry,
    companies have been focusing on using connected
    devices to raise the efficiency of existing
    operations by a few notches. Ever since the
    advent of the smart era, leading tech giants such
    as Apple and Google have been engaging in a
    fierce battle to gain the upper hand in terms of
    smart products development. The trend which is
    perpetually consistent even in todays business
    scenario, will be one of the key driving forces
    behind the growth of smart speaker industry.
  • Undeniably, the burgeoning developments in the
    IoT (Internet of Things) business sphere will
    bring about a plethora of changes in the
    perception of smart speaker market. Embedded with
    varied functionalities, including problem
    solving, ordering of essential items, live
    streaming of music, live news reporting, setting
    reminders, to name a few, smart speakers are
    indeed the exclusively classy wireless playback
    devices in vogue. Forbes has rightly quoted smart
    speakers to be the future of audio, a fact which
    is likely to catapult smart speaker industry,
    which, as per analysts, is slated to record a
    valuation of USD 13 billion by 2024.

  • The retail magnate Amazon was the first company
    to pioneer the numero uno smart speaker, called
    the Amazon Echo, in 2014. The product was
    officially launched in mid-2015, and from then on
    began the commercialization of smart speaker
    industry. Amazons Echo since then, has been
    upgraded numerous times, and with every
    advancement, the sales and commercialization of
    the product have soared beyond predicted
    expectations. For instance, in May 2017, the
    retail giant launched the Echo Show, designed to
    provide exclusive features such as flash
    briefings, online video browsing, video calling,
    etc., apart from the basic functionalities of
    Amazon Echo. In addition, a leading tech daily
    has forecast that Amazon, in all probability will
    capture tentatively more than 68 of the
    voice-controlled speaker market in U.S. in 2017,
    which will eventually lead to the growth of U.S.
    smart speaker industry share.
  • Not to be left behind in the race, Google, post
    Amazons successful launch, released its smart
    speaker, Google Home by the end of 2016. And now,
    another contender has joined the marathon Apple
    is likely to launch its own smart speaker, called
    HomePod, by the end of 2017, powered by Siri.
    Considering that these conglomerates are
    essentially headquartered in the U.S., it comes
    as no surprise, that U.S. smart speaker market
    has been forecast to dominate the global industry
    share over 2017-2024. As per estimates, more than
    6.5 of Americans currently own at least one
    smart speaker, and more than 40 of smart speaker
    owners possess two or more devices.

  • The convenience of Bluetooth technology and its
    already established prominence across the globe
    are anticipated to stimulate the development of
    Bluetooth-enabled smart speaker industry over
    2017-2024. The increasing prevalence of smart
    homes is another major driver fueling the growth
    of smart speaker market. Since these homes are
    efficiently designed to deliver central
    connectivity between electronic devices, the
    incorporation of smart speakers in the house will
    be on an all-time high, a factor which will lead
    to the massive growth of smart speaker industry
    worldwide. In addition, these speakers are
    available in terms of single-room, double-room,
    and multi-room, depending upon consumer
    requirements as regards to the accessibility
  • Though estimates claim single-room products to
    dominate the overall smart speaker market over
    the next seven years, pertaining to the consumer
    preferences of handling the speaker from one room
    only, multi-room products stand tall in terms of
    garnering popularity and sales in the forthcoming
    years. Possibly, this growth can be attributed to
    the convenience offered by these devices in terms
    of flexibility. These products enable users to
    control the speaker functionality from multiple
    rooms via a single device. This business zone is
    relatively in its embryonic stage, and yet, tech
    magnates have been aggressively combating with
    one another for a chunk of smart speaker industry

Global Smart Speaker Market Share, By Region, 2016


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Table of Content of Smart Speaker Market
  • Chapter 1 Methodology Scope
  • 1.1 Methodology
  • 1.1.1 Initial data exploration
  • 1.1.2 Statistical model and forecast
  • 1.1.3 Industry insights and validation
  • 1.1.4 Definition and forecast parameters
  • 1.2 Data Sources
  • 1.2.1 Primary
  • 1.2.2 Secondary
  • Chapter 2 Executive Summary
  • 2.1 Smart speaker industry 3600 synopsis, 2013
    - 2024
  • 2.1.1 Business trends
  • 2.1.2 Technology trends
  • 2.1.3 Product trends
  • 2.1.4 Regional trends

  • Chapter 3 Smart Speaker Industry Insights
  • 3.1 Industry segmentation
  • 3.2 Industry size and forecast, 2013 - 2024
  • 3.3 Industry ecosystem analysis
  • 3.3.1 Raw material trends
  • Acoustic Lens
  • Speaker Drivers
  • Speaker Grille and Fabrics
  • 3.3.2 Manufacturers
  • 3.3.3 Distributors
  • Retailers
  • Wholesalers
  • Online channels
  • 3.4 Technology innovation landscape
  • 3.4.1 Connection Technologies
  • Bluetooth
  • Wi-Fi
  • Near Field Communication (NFC)

  • These estimates prove that the readiness of
    consumers to adapt to advanced technologies like
    a fish takes to water will encourage U.S.
    manufacturers to develop advanced, user-friendly,
    and multi-functional products, thereby augmenting
    U.S. smart speaker industry. Judging by the pace
    at which smart speaker market players have been
    progressing, it is evident that smart speakers
    are likely to become all-pervasive in a few
    years. As per a reliable forecast, a substantial
    proportion of households across the world may
    incorporate a smart speaker in their home by
    2020.While Amazon, Google, and Apple have already
    established their space in global smart speaker
    industry, other major corporations, not to be
    outdone, have joined the quest as well.
  • Currently, some of the popular companies
    consolidating their position in smart speaker
    market include Samsung, Sony Corporation,
    Terratec, Philips, Edifier, and JBL. Wi-Fi
    devices have been gaining prominence in global
    smart speaker industry, owing to the fact that
    they ensure a reliable, direct connection to the
    home network. Despite the fact they are expensive
    and require continuous access to the internet,
    Wi-Fi enabled smart speaker market is on its way
    to carve out a profitable growth path. However.
    Bluetooth devices are no less popular either. In
    January 2015, Sony declared the launch of high
    resolution audio devices that enable users to
    listen to high quality music via Bluetooth.

  • 3.4.2 Intelligent Personal Assistants
  • Google Now
  • Alexa
  • Cortana
  • Siri
  • Blackberry Assistant
  • Braina
  • 3.4.3 3.4.3. Multi-room Speaker Technology
  • 3.5 Price trend analysis
  • 3.6 Regulatory landscape
  • 3.6.1 North America
  • 3.6.2 Europe
  • 3.6.3 Asia Pacific
  • 3.7 Industry impact forces
  • 3.7.1 Growth drivers
  • Rising demand for internet of things
  • Growing number of smart homes
  • Increasing focus of companies on
    enhancing customer experience
  • Increasing wireless connectivity
    demand for wireless devices

  • High acceptance of technological
  • Increaing customer focus towards
    connected solutions
  • Rising disposable income
  • 3.7.2 Industry pitfalls challenges
  • Increasing security risks
  • 3.8 Growth potential analysis
  • 3.9. Porters analysis
  • 3.9.1 Threat of new entrants
  • 3.9.2 Buyer power
  • 3.9. 3. Supplier power
  • 3.9. 4. Threat of substitutes
  • 3.9.5. Industry rivalry
  • 3.10 Competitive landscape, 2016
  • 3.11 PESTEL analysis

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