The global smart speakers market size is expected to be worth around US$ 45.3 billion by 2030, according to a new report by Vision Research Reports.
The global smart speakers market size was valued at US$ 5.7 billion in 2020 and is anticipated to grow at a CAGR of 39.5% during forecast period 2021 to 2030.
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|Market Size||US$ 45.3 Bn by 2030|
|Growth Rate||CAGR of 39.5% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Virtual Personal Assistant|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Amazon; Google; Apple; and Xiaomi|
The market is anticipated to witness significant growth over the forecast period owing to various technological advancements. One of the recent technological advancements is Echo Look, launched by Amazon in June 2018. Echo Look is integrated with a camera and programmed to function as a fashion advisor by capturing user’s images. Similarly, in March 2017, Google announced its strategy to incorporate smart displays in their speakers. The Google Assistant Smart Displays can be used to watch recipes, refer to Google maps, and shop online with the visual aid of a screen.
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Amazon; Google; Apple; and Xiaomi
- By Virtual Personal Assistant (VPA)
- Amazon Alexa
- Google Assistant
- Apple Siri
- North America
- The U.S.
- Asia Pacific
- Latin America
- Middle East & Africa
- North America
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In this study, the years considered to estimate the market size of Smart Speakers are as follows:
- History Year: 2017-2020
- Base Year: 2021
- Forecast Year 2021 to 2030
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– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
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