Global Smart Speaker Market Report by Component (Hardware, Software), Intelligent Virtual Assistant (Amazon Alexa, Google Assistant, Siri, Cortana, Others), Connectivity (Wi-Fi, Bluetooth), Price Range (Low-range (Less than $100), Mid-range ($101 to $200), Premium (Above $200)) Distribution Channel (Online, Offline), End User (Personal, Commercial), Countries and Company Analysis, 2024-2032

Driving forces for Smart Speaker Market

Growing number of smart homes - Homeowners' constant demand for pleasant and convenient lifestyles has sped up the development of linked solutions for smart homes. Since 2012, there has been a steady rise in the quantity of smart items released into the market. Customers' attention is moving toward smart items due to the availability of mobile devices and Internet access for controlling household appliances. The proliferation of smart gadgets in smart homes can be ascribed to the progress made in the Internet of Things (IoT); the growing need for energy-saving products and solutions; and the growing need for convenience, security, and safety. With smart speakers, users can remotely control linked gadgets in their homes with voice commands. Because of this, smart speakers are the most important and favored gadgets in smart homes, serving as a center for the system. Connecting to smart devices and carrying out tasks like managing lights, playing music, and browsing the Internet is made simple by the integrated smart home hub.

Users can enjoy ease thanks to its wireless connectivity with mobile devices. Additionally, smart speakers take up less room than conventional home theater systems. People are switching from traditional speakers to smart speakers at a rapid pace in both technologically sophisticated and developing nations because of these benefits. In the upcoming years, it is anticipated that the expansion of smart home appliances will drive the rise of smart speakers with virtual assistants.

Increasing Demand for Voice-Activated Electronics – Consumers of today are more and more looking for technology that fits in with their everyday routines naturally and provides hands-free convenience and interactivity. Without the need for manual input, smart speakers offer an easy-to-use platform that enables users to command actions and acquire information simply by speaking. Their adoption in both residential and commercial settings has been fueled by their convenience. Smart speakers have become essential lifestyle companions due to their capacity to manage music playing, set alarms, receive news updates, and even make online purchases with voice commands.

North America Smart Speaker Market

In terms of resources, GDP, infrastructure, and technical breakthroughs, North America's economies are among the most well-defined and managed in the world. The region is home to a sizable number of smart homes, smart offices, and cutting-edge cars.

Furthermore, North America has reacted quite well to recent technological developments, including the Internet of things (IOT) and artificial intelligence (Al). In North America, smart device voice assistants are mostly taken into consideration by industries, SMEs, or large organizations as a means of enhancing their client-centric approaches and customer engagement. Due to the growing need for automated goods and services in smart homes and smart businesses, North America, particularly the US, is one of the biggest markets for smart speakers. Furthermore, the market for smart speakers is expanding in this area due to the rising need for connected and smart devices.

Smart Speaker Company Overview

The leading market players in the Smart Speaker market are Alibaba Group Holding Limited, Amazon.com Inc., Apple Inc., Baidu Inc., Bose Corporation, Lenovo Group Limited, LG Electronics Inc., Panasonic Corporation, Sonos Inc.

Smart Speaker Company News

In March 2024, the newest portable speaker from LG Electronics, the LG StanbyME Speaker (model XT7S), was released globally. With the provided remote control, users can easily turn on and off the speaker and screen and pair them with Bluetooth. Additionally, a dedicated widget for centralized control and status monitoring of the speaker is included with the LG StanbyME.

In January 2024, the well-liked JBL portable audio lineup, which includes the JBL Xtreme 4, JBL Clip 5, and JBL Go 4, is being updated with Auracast for a wider range of connectivity choices. The new versions have improved sound quality, fashionable color options, and up to 80% post-consumer recycled (PCR) components in their manufacturing. Al Sound Boost is now included with the JBL Xtreme 4 for real-time audio output optimization that produces crisp, powerful sound.

In October 2023, In India, Sonos debuted the Era 100 and Era 300 smart speakers. With Dolby Atmos, the Era 300 boasts an inventive design that aims to produce outstanding spatial sounds. In addition, the Sonos One has been updated with the Era 100. Their respective prices are USD 360 and USD 660.

In June 2023, the $60 Echo Pop smart speaker was introduced by Amazon India. It is available in Charcoal, Lavender Bloom, Glacier White, and Midnight Teal hues with a semi-hemisphere design. With the help of Alexa, users of the small gadget may check the weather, read news, place orders, listen to music, audiobooks, and podcasts from different providers, set timers, and much more.

Component – Global Smart Speaker Market in 2 Viewpoints -

• Hardware
• Software

Intelligent Virtual Assistant - Global Smart Speaker Market in 5 Viewpoints -

• Amazon Alexa
• Google Assistant
• Siri
• Cortana
• Others

Connectivity - Global Smart Speaker Market in 2 Viewpoints -

• Wi-Fi
• Bluetooth

Price Range - Global Smart Speaker Market in 3 Viewpoints -

• Low-range (Less than $100)
• Mid-range ($101 to $200)
• Premium (Above $200)

Distribution Channel- Global Smart Speaker Market in 2 Viewpoints -

• Online
• Offline

End User - Global Smart Speaker Market in 2 Viewpoints -

• Personal
• Commercial

Geography – Global Molecular Diagnostics Market

North America

1. United States
2. Canada

Europe

1. France
2. Germany
3. Italy
4. Spain
5. United Kingdom
6. Belgium
7. Netherlands
8. Turkey

Asia Pacific

1. China
2. Japan
3. India
4. Australia
5. South Korea
6. Thailand
7. Malaysia
8. Indonesia
9. New Zealand

Latin America

1. Brazil
2. Mexico
3. Argentina

Middle East & Africa

1. South Africa
2. Saudi Arabia
3. United Arab Emirates

Company Insights:

• Overviews
• Recent Developments & Strategies
• Product Portfolio & Product Launch in Last 1 Year
• Revenue

Company Analysis:

1. Alibaba Group Holding Limited
2. Amazon.com Inc.
3. Apple Inc.
4. Baidu Inc.
5. Bose Corporation
6. Lenovo Group Limited
7. LG Electronics Inc.
8. Panasonic Corporation
9. Sonos Inc.

Report Details: