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Global Smart Speakers Market can be worth USD 11.57 BN by 2023 due to Growing Adoption of Smart Home Devices

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Global Smart Speakers Market can be worth USD 11.57 BN by 2023 due to Growing Adoption of Smart Home Devices

August 28
19:57 2019
Global Smart Speakers Market can be worth USD 11.57 BN by 2023 due to Growing Adoption of Smart Home Devices

Smart Speakers Market
Smart Speakers Market, By intelligent virtual assistant (Alexa, Google Assistant, Cortana, Siri, and others), By Applications(personal use and commercial use), By region(North America, Europe, Asia-Pacific, and the rest of the world) – Forecast 2023

Market Highlights

Smart speakers are wireless speakers that can be enabled with Bluetooth, Wi-Fi, or other wireless protocols. A smart speaker is powered by artificial intelligence (AI) – driven intelligent virtual assistant. Market Research Future (MRFR) has published a research report about the global smart speakers market that estimates extension for this market at 34.7% CAGR during the forecast period between 2018 and 2023. By value, the market has been figured to be worth the $ 11.57 Bn by the end of the forecast period.

The necessary market driver for the global smart speakers market is the ability to activate the speaker via voice command. Advancement in microphone technology, advancement in automated speech recognition, and natural language processing can help identify the process of the voice command. Appearing similar to a traditional speaker, the smart speaker offers additional benefits that traditional speaker does not. The factors forwarding the market growth include the development of automated speech recognition technology, the market proliferation of smartphones, and the rise in the adoption of smart home devices. However, data security concerns, privacy concerns, and cybersecurity issues can hurt the market growth.

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Major Key players

  • Alibaba Group Holding Ltd (China)
  • Altec Lansing/AL Infinity LLC (USA)
  • Amazon.com (USA)
  • Apple Inc. (USA)
  • Bose Corporation (USA)
  • Google (USA)
  • Harman International (USA)
  • Lenovo Group Limited (USA)
  • Onkyo Corporation (Japan)
  • Panasonic Corporation (Japan)
  • Pioneer Corporation (Japan)
  • SK Telecom Co Ltd (South Korea)
  • Sonos. Inc. (USA)
  • Sony Corporation (Japan)
  • Xioami Corporation (China).


The global smart speakers market segmentation has segmented the market into application, intelligent virtual assistant, and region. The application-based segmentation segments this market into personal use and commercial use. Based on an intelligent virtual assistant, the market has been Alexa, Cortana, Google Assistant, Siri, and others.

Regional Analysis:

The regional segmentation of the global smart speakers market segments the market into the regional markets, namely Asia Pacific, Europe, North America, and rest of the world (RoW). During the forecast period, North America can dominate the market due to the presence of early adopters and key smart speaker providers. Technological advancement makes North America the undisputed leader among all regional markets. USA, Canada, and Mexico are the most important country-specific markets in this region.

Due to technological advancement and the presence of some key market players, Europe is another important regional market. The vital country-specific in this region are France, Germany, and the UK.

During the forecast period, the Asia Pacific market is expected to grow at a faster rate with China and Japan being dominant country-specific markets. In India also, the market is expected to grow due to growing technological advancement and development of smart cities. After India, the remaining countries of the Asia Pacific region also form a sizable market. Some of the important market players are based in the Asia Pacific region too.

The RoW segment covers Latin countries and the Middle East & Africa (MEA) region. In Latin America, the most important economies that might become important country-specific markets in future are Argentina and Brazil. In the MEA region, the market is limited due to limited technological advancement.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/smart-speakers-market-2286


Figure 1 Global Smart Speaker Market Segmentation

Figure 2 Forecast Methodology

Figure 3 Porter’s Five Forces Analysis Of Global Smart Speaker Market

Figure 4 Value Chain Of Global Smart Speaker Market

Figure 5 Share Of Smart Speaker Market In 2018, By Country (In %)

Figure 6 Global Smart Speaker Market, 2018–2023

Figure 7 Share Of Global Smart Speaker Market By Industry, 2018–2023

Figure 8 Global Smart Speaker Market Size, By Intelligent Virtual Assistant, 2018

Figure 9 Share Of Global Smart Speaker Market, By Intelligent Virtual Assistant, 2018–2023

Figure 10 Global Smart Speaker Market Size, By Applications, 2018

Figure 11 Share Of Global Smart Speaker Market, By Applications, 2018–2023

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
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Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/smart-speakers-market-2286