Global Smart Speaker Market

Smart speaker is a wireless audio playback device. It uses different types of connectivity for additional functions. It has special features to improve ease of use, can connect to multiple types of audio sources and provide additional functionality. The main aim of smart speakers is to deliver wireless audio content from a user’s media library. The media library may be on different platforms, or an online music services. The factors that are driving the global smart speaker market includes growing trend of wireless connectivity & devices, and rising demand of the IOT devices. 

Smart Speaker Market

The rising usage of IoT devices has tremendously increased the big data market. There has been a significant rise in the IoT devices in the recent years that are enhancing the global smart speaker market. According to Organization for Economic Cooperation and Development (OECD), in 2015 a family of four had an average of 10 devices connected to the internet in their household which is predicted to increase up to five times to reach to 50 devices by 2022. This automatically led to the evolution of big data and raises an urgent need of big data analytics. Wi-Fi is emerging as an alternative to bluetooth due to some basic convenience over it. Wi-Fi has better range over Bluetooth. Additionally, it doesn’t interrupt the music by the another calls on same audio channel. Over the phone over audio channel due to which call can be taken without interrupting the music. The Wi-Fi system also works with great compatibility with multiroom system audio, which allows playback from multiple speakers all across the location, which can be controlled by single phone app. Some Wi-Fi smart speakers are Google Home Mini, Chromecast built-in, Sonos, Bose SoundTouch and others. 

North American region is growing with a significant growth and may dominate the overall global smart speaker market. The major contributor for the growth of the North America includes huge investment by the private companies, presence of major market players such as Apple, Amazon, Microsoft and high adoption of the smart speaker in the region. APAC is estimated to be the fastest growing region in the smart speaker market. The promising economic growth potential, large customer base, increasing disposable income are some of the factors that are augmenting the demand for smart speaker within the region. The major countries contributing in APAC region include China, India, Japan, and South Korea. Some domestic companies actively participating into the market growth includes Samsung and Baidu along with the Apple, Microsoft, Amazon and so on. 

Companies such as Google, Amazon, Apple and Baidu are considered to be the major market players in the global smart speaker market. These companies are contributing through introducing new products and technological advancement across the globe. Additionally, the companies are investing heavily in R&D, merger and acquisition, partnership and providing funding to the new start-ups. For an instance, in Dec, 2017 Mobvoi Inc. has launched TicHome Mini. It is a voice-activated digital assistant that which can respond to voice commands, such as streaming music and newscasts, the company is paved by the Google Inc. Amazon has launched their Amazon Echo smart speaker in India in Oct, 2017. The starting range of the speaker is $70. Thus, the global smart speaker market is anticipated to offer a significant growth and opportunities in the future. 

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Anurag Tiwari
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