About Intelligent Speaker
Intelligent speaker is the text to speech browser extension which converts the written text to speech and reads it. It supports the web pages, local files and Google docs. In addition the individual can read books, articles, news and any written content. It is enabled by wireless connectivity such as Bluetooth, Wi-Fi and powered by virtual assistance with Artificial intelligence. Various tasks can be performed by voice command such as food ordering, online shopping, and many more. These features provide an advantage over substitute products which are fueling the market growth
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Intelligent Speaker market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Alphabet Inc (Alphabet) (United States), Apple Inc. (Apple) (United States), Amazon (United States), Sony Corporation (Sony) (Japan), Lenovo Group Ltd. (Lenovo) (United States), Xiaomi Inc. (Xiaomi) (China), Panasonic Corporation (Panasonic) (Japan), Bose Corporation (Bose) (United States), Harman International (United States) and Sonos (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Onkyo Corporation (Onkyo) (Japan), Pioneer Corporation (Pioneer) (Japan), Altec Lansing (United States) and SK Telecom Co., Ltd. (SK Telecom) (South Korea).
Segmentation Overview
AMA Research has segmented the market of Global Intelligent Speaker market by , Application (Smart Home, Consumer, Smart Office and Others) and Region.
On the basis of geography, the market of Intelligent Speaker has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Intelligent Virtual Assistant, the sub-segment i.e. Google Assistant will boost the Intelligent Speaker market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Price, the sub-segment i.e. Low will boost the Intelligent Speaker market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Wired technology will boost the Intelligent Speaker market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution channel, the sub-segment i.e. Online will boost the Intelligent Speaker market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Growth of Internet of Things (Iot) and Connected Devices and Technological Advancements across the Globe
Market Growth Drivers:
Increase in disposable income is fueling the market. Rapid urbanization in developing economies is leading to changes in lifestyle of people and increase in household spending. According to the US bureau of Labor Statistics, the disposable income in 2016 was USD 13,968.6 billion and expected to increase to USD 21,178 billion in 2026.
Challenges:
Risk of Data Breach May Hamper the Market
Restraints:
Lock Down Imposed by Government in Various Regions has Led to Decrease in Online Sales of Non-Essential Products Which is Hampering the Market Negatively
Opportunities:
Increasing Preference of Individuals to Technologically Advanced Products
Market Leaders and their expansionary development strategies
On 4th April 2020, Apple has acquired Next VR which is a technology company that captures and delivers live on demand virtual reality experiences and On 3rd April 2020, Apple has acquired Voysis which develops tech that makes easier for voice assistant to understand user’s language
On 2nd December 2019, Redmi has announced that it is launching a smart speaker and a WiFi router along with Redmi K30 smartphone. The smart speaker can run on Xiaomi’s own voice assistant.
Key Target Audience
Manufacturers, Raw material suppliers, Government associations, Research organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.