Smart Speaker Market to hit 100 million units by 2024: Fractovia.org

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Global Smart Speaker Industry to hit 100 million
units by 2024 Fractovia.org
Fuel Cell Market size worth 25.5bn by 2024
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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.

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Continued

• 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.

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Continued

• 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
  factor.
• 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
  share.

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Global Smart Speaker Market Share, By Region, 2016

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Speaker Market _at_ http//bit.ly/2wGxGZG Request
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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

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Continued

• 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
• 3.3.1.1 Acoustic Lens
• 3.3.1.2 Speaker Drivers
• 3.3.1.3 Speaker Grille and Fabrics
• 3.3.2 Manufacturers
• 3.3.3 Distributors
• 3.3.3.1 Retailers
• 3.3.3.2 Wholesalers
• 3.3.3.3 Online channels
• 3.4 Technology innovation landscape
• 3.4.1 Connection Technologies
• 3.4.1.1 Bluetooth
• 3.4.1.2 Wi-Fi
• 3.4.1.3 Near Field Communication (NFC)

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Continued

• 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.

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Continued

• 3.4.2 Intelligent Personal Assistants
• 3.4.1.1 Google Now
• 3.4.1.2 Alexa
• 3.4.1.3 Cortana
• 3.4.1.4 Siri
• 3.4.1.5 Blackberry Assistant
• 3.4.1.6 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
• 3.7.1.1. Rising demand for internet of things
• 3.7.1.2. Growing number of smart homes
• 3.7.1.3. Increasing focus of companies on
  enhancing customer experience
• 3.7.1.4. Increasing wireless connectivity
  demand for wireless devices

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Continued

• 3.7.1.5. High acceptance of technological
  advancements
• 3.7.1.6 Increaing customer focus towards
  connected solutions
• 3.7.1.7 Rising disposable income
• 3.7.2 Industry pitfalls challenges
• 3.7.2.1 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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