According to a new market study entitled "Smart Speaker Market to 2027 - Global Analysis and Forecasts by Deployment Type (On-Premise and Cloud) and Industry Vertical (BFSI, Healthcare & Life Sciences, Retail & Consumer Goods, Manufacturing, Travel & Hospitality, IT & Telecommunication, Media & Entertainment, and Others) and Geography, "explains the report, explaining the key drivers of this growth and highlighting key market players and their evolution. The report factors this growth and also highlights the major players in the market and their developments.
Smart speakers are wireless speakers that are equipped with advanced technologies including Wi-Fi, Bluetooth, virtual assistant and/or other wireless protocols. Increasing advancements in natural language processing, speech recognition, and quality enhancements in the microphones are creating new growth avenues for the smart speaker market.
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The smart speaker market is anticipated to grow owing to driving factors such as rising demand for consumer electronics and rising penetration of smart homes. However, factors including rise in privacy concerns is hampering the growth of the smart speaker market to a certain extent. Proliferation of 5G technologies is opportunistic for the growth of the market.
Smart Speaker Market Top Key Players: Alphabet, Amazon.com, Apple, Harman International, Bose Corporation, Panasonic Corporation, Pioneer Corporation, Pioneer Corporation, Sonos, Sony Corporation, Xiaomi Corporation
The "Global Smart Speaker Market Analysis to 2027" is a specialized and in-depth study of the smart speaker industry with a special focus on the global market trend analysis. The report aims to provide an overview of smart speaker market with detailed market segmentation by component, IVA type, and application. The global smart speaker market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading smart speaker market players and offers key trends and opportunities in the market.
- Smart Home
- Smart Office
The global smart speaker market is segmented on the basis of component, intelligent virtual assistant type and application. Based on component, the market is segmented as hardware and software. Further, based on IVA type, the market is divided into Google Assistant, Cortana, Siri, Alexa, and others. Based on application, the market is categorized into consumer, smart home, smart office, and others.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global smart speaker market based on various segments. It also provides market size and forecast estimates from year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America.
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Key Elements that the report acknowledges:
- Market size and growth rate during forecast period.
- Key factors driving the Smart Speaker Market.
- Key market trends cracking up the growth of the Smart Speaker Market.
- Challenges to market growth.
- Key vendors of Smart Speaker Market.
- Detailed SWOT analysis.
- Opportunities and threats faces by the existing vendors in Global Smart Speaker Market.
- Trending factors influencing the market in the geographical regions.
- Strategic initiatives focusing the leading vendors.
- PEST analysis of the market in the five major regions.
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