Global Smart Speaker Market 2024-2028
Technavio has been monitoring the smart speaker market and is forecast to grow by USD 50753.9 mn during 2023-2028, accelerating at a CAGR of 34.28% during the forecast period. Our report on the smart speaker market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rapidly increasing unit sales of smart speakers, growing need for smart speakers in households, and rising demand for smart speakers from non-english-speaking countries.
Technavio's smart speaker market is segmented as below:
By End-user
By Distribution Channel
By Geographical Landscape
- North America
- Europe
- APAC
- South America
- Middle East and Africa
This study identifies the increasing popularity of voice commerce as one of the prime reasons driving the smart speaker market growth during the next few years. Also, strong distribution networks between manufacturers and retailers and increasing focus of vendors on new product launches will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the smart speaker market covers the following areas:
- Smart speaker market sizing
- Smart speaker market forecast
- Smart speaker market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading smart speaker market vendors that include Alphabet Inc., Amazon.com Inc., Apple Inc., Bang and Olufsen Group, Belkin International Inc., Bose Corp., Edifier International Ltd., Imagine Marketing Pvt. Ltd., Lenovo Group Ltd., LG Electronics Inc., NXP Semiconductors NV, Onkyo Corp., Portronics Digital Pvt. Ltd., Qualcomm Inc., Samsung Electronics Co. Ltd., Sonos Inc., Sony Group Corp., Xiaomi Communications Co. Ltd., Zebronics India Pvt. Ltd., and Zound Industries International AB. Also, the smart speaker market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.