Smart speaker market Opportunities & Forecast, 2020-2027

1. Smart Speaker Market

2. The GMI Research adds new research on the Smart speaker market, a detailed analysis of this business space, including the emerging market trends, competitive landscape, and market size. The report covers various parameters among different segment analysis, the regional growth landscape, and an in- depth study of the industry’s competitive scenario.

3. Key Drivers of the Smart speaker market: The rising development of smart homes, which is resulting in an increase in the demand for smart devices and the growing penetration of smartphones, are the major factors that are surging the growth of the smart speaker market size. Continuous technological advancements, including the implementation of the internet of things (IoT) technology and the rising usage of data networks such as 3G and 4G, are providing users the ease to access the internet at enhanced speed. This factor, followed by the increasing disposable income, rapid urbanization, rising use of wireless technology, and the strong demand among the consumers for multifunctional and advanced products, will further energize the growth of the smart speaker market share in terms of revenue.

4. The rising spending of the consumers to improve the quality of life in technologically advancing economies, increasing per capita income, and the growing emphasis of the companies to improve the customer experience, will have a positive impact on the market’s growth. The development of partnerships among smart speaker manufacturers and smart home manufacturers is leading to the smooth incorporation of a smart speaker with smart home devices, which in turn, is accelerating the market’s demand. The ongoing coronavirus crisis is bringing numerous opportunities for market’s growth. The rising number of people working from home and the growing usage of smart speakers to automatically control various home devices, including TV remotes, door handles, and light switches, thus avoiding getting in contact with the commonly touched surfaces around the home, is also surging the market’s demand. On the other edge of the spectrum, the risk related to the security and problems associated with the connectivity range and compatibility issues are likely to restrain the growth of the market.

5. About GMI Research GMI Research is a market research and consulting firm which provides bespoke industry & market research to help businesses in making the toughest business decision. We know the significance of accurate data; that’s why our analyst uses a tailored methodology to study every market in detail because one size doesn’t fit all. We not only cover the traditional well-established market but also focuses on the niche market and markets in the emerging economies, where getting data and information is a challenge. This factor makes us pioneer in emerging market research space. Our syndicate reports cover multiple industries across various regions and countries. Our in-depth market reports help propel your business with all the data, strategic inputs, and competitive intelligence to move ahead even in the most uncertain times. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research look forward to helping businesses stay ahead of the curve.