Smart Sound and Gateway Market Revenue Growth and Quantitative Analysis Till 2030

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Market Research Report EXCLUSIVE EDITION
Smart Sound and Gateway MarketReport
Opportunities, and Forecast By 2030
Global Industry Analysis, Forecast and Trends,
2022-2030
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Smart Sound and Gateway Market
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Smart Sound and Gateway Market Share 2022
COVID-19 Impact and Regional Outlook 2030
Smart Sound and Gateway Market by Virtual
Assistant (Alexa, Google Assistant, Siri, Ali
Genie, Xiao AI, and Multiple Virtual Assistant
Support Speakers), by Solution (Smart Speaker and
Hearables), by Region Global Share and
Forecast to 2030 Description According to the
Market Statsville Group (MSG), the global smart
sound and gateway market size is expected to
grow from USD 438.4 million in 2021 to USD
4,397.7 million by 2030, at a CAGR of 29.2 from
2022 to 2030. A smart speaker is a wireless
device offering smart audio playback using
several types of connectivity for additional
functions. The study focuses on smart speakers
with both display and non-display offerings. The
devices that operate with a virtual assistant are
considered under the scope of the study, and the
devices that offer multiple virtual voice
assistant support are considered under 'Multiple
Virtual Assistant Support Speakers. Due to
high-speed internet and increased access to
smartphones the global demand for smart speakers
is increasing at an exponential rate. In
English-speaking nations, such as the UK and the
US, demand for smart speakers with virtual voice
assistants was significantly higher in 2019.
Since then, demand has shifted to non-English
speaking countries, such as China, Germany, and
India.
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Among the overall demand for digital voice
assistants, overall market demand was led by
Google Assistant and Apple's Siri, owing to
their penetration in the smartphone market.
However, in terms of smart speakers, the market
was led by Amazon's Alexa. Alexa commands a major
share of the smart speaker market, owing to the
growing product queries made via voice
searches. Request Sample Copy of this Report
https//www.marketstatsville.com/request-
sample/smart-sound-and-gateway-market Global
Smart Sound and Gateway Market Dynamics Drivers
Growing Consumer Propensity toward Connected
Devices The growing consumer propensity towards
the adoption and usage of the connected devices
is augmenting the demand. For instance,
according to a study by Jaze Networks, the global
internet- connected devices per person in 2020
were at 6.58 and according to another study, the
global number for connected devices per person
is likely to reach 15 by 2030. In addition to
this, consumer demand for smartphones is
increasing at a significant rate. For instance,
according to the data by Ericsson, in Q2 2020,
the total number of mobile subscriptions was
about 7.9 billion, amongst which about 74 of the
subscriptions were associated with smartphones.
Such growing penetration of smartphones is
expected to pave the way for more connected to
devices.
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Challenges Security Concerns Pertaining to
Connected Devices Even small news of security
breach headline from a major vendor influences
consumer decisions significantly. For example,
misunderstood commands, unintended purchases, and
Alexa listening to consumers have made users
take a back foot stance in adopting smart
speakers. Also, the security breaches in terms of
data and passive listening were amongst the
major concerns hindering the growth. According to
a study by Microsoft, about 52 of the
respondents mentioned that data security was
their major concern in the adoption of smart
speakers, 41 mentioned its passive listening,
and 14 of respondents took time to hand write
that they did not trust the company behind the
voice assistant. Segments of the Global Smart
Sound and Gateway Market The study categorizes
the smart sound and gateway market based on
virtual assistant, solution, and region. Direct
Purchase Report https//www.marketstatsville.com/
buy-now/smart-sound-and- gateway-market?opt2950
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• By Virtual Assistant Outlook (Sales, USD
  Million,
• 2017-2030)
• Alexa
• Google Assistant
• Siri
• Ali Genie
• Xiao AI
• Multiple Virtual Assistant Support Speakers
• Other Virtual Assistants
• By Solution Outlook (Sales, USD Million,
  2017-2030)
• Smart Speaker
• Hearables
• By Region Outlook (Sales, USD Million, 2017-2030)
• North America
• US
• Canada
• Mexico
• Europe

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• Germany
• Italy
• France
• UK
• Spain
• Poland
• Russia
• The Netherlands
• Norway
• Czech Republic
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Indonesia
• Malaysia
• Thailand

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• South America
• Brazil
• Argentina
• Colombia
• Rest of South America
• The Middle East Africa
• Saudi Arabia
• UAE
• South Africa
• Northern Africa
• Rest of MEA
• The Alexa segment is projected to account for the
  largest market share, by virtual assistants
  Access full Report Description, TOC, Table of
  Figure, Chart,
• etc https//www.marketstatsville.com/table-of-
  content/smart-sound-and-gateway-market

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Based on virtual assistants, the global smart
sound and gateway market is divided into Alexa,
Google Assistant, Siri, Ali Genie, Xiao AI,
Multiple Virtual Assistant Support Speakers, and
Other Virtual Assistants. In 2021, Alexa had the
largest market share of 31.9 in the global smart
sound and gateway market. Amazons Alexa is one
of the most commonly accepted, hands-free voice
assistants that can be used for various purposes.
Its user interface system was developed back in
2014. Alexas distinguished features, machine
learning, and speech science technology is
further designed to support multiple,
simultaneous wake words. Since the emergence of
voice assistants, globally, the expanded
conversational commerce has created new
opportunities for brands to build greater
intimacy with consumers. For instance, Amazon
has been rolling out voice shopping options by
adding the Alexa voice assistant to its mobile
shopping app. Likewise, it aims to foray into
Europe to try out voice shopping. However,
issues pertaining to compliance with Europes
GDPR privacy rules and assurance to people that
their data would not be taken. Asia Pacific
accounts for the highest CAGR during the forecast
period
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Based on the regions, the global smart sound and
gateway market has been segmented across North
America, Asia-Pacific, Europe, South America, and
the Middle East Africa. Globally, Asia Pacific
is estimated to hold the highest CAGR of 40.1 in
the global smart sound and gateway market during
the forecast period. The region includes the
countries such as China, Japan, India,
Australia, Southeast Asia, South Korea, and Rest
of Asia-Pacific. Due to the low manufacturing
costs achieved by local vendors, high rate of
product innovation in the market, and increased
domestic consumption, China had the largest
market share in Asia Pacific. For instance, In
2020, Xiaomi- backed Redmi also launched its
first touchscreen smart speaker, dubbed as Redmi
XiaoAI Touchscreen Speaker 8. In September 2020,
the company again launched an upgraded variant in
China Redmi XiaoAI Touchscreen Speaker Pro. It
features an 8-inch touchscreen display that can
be used to watch videos, listen to songs, and be
linked with smart cameras and doorbells to view
the video feed on the device to keep a check
anytime. Moreover, High investment in IoT devices
and technology and increasing investment in voice
assistant devices are some of the key factors
driving the market growth in Japan. Many small
companies claim that there were approximately 3.5
to 4 million households in Japan with smart
speakers installed in their homes in 2018. This
number is expected to increase to almost 22
million households by 2024. Many local
newspapers also claimed that in 2019, the country
witnessed a 131 growth in the smart speaker
market. Request For Report Description
https//www.marketstatsville.com/smart-sound-and-
gateway-market
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