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Home>Global $4 Bn Smart Voice Assistant Speaker Market Outlook to 2022 - Research and Markets

Global $4 Bn Smart Voice Assistant Speaker Market Outlook to 2022 - Research and Markets

Global $4 Bn Smart Voice Assistant Speaker Market Outlook to 2022 - Research and Markets

09/28/2017

Global $4 Bn Smart Voice Assistant Speaker Market Outlook to 2022 - Research and Markets

The "Smart Voice Assistant Speaker Market - Global Outlook and Forecast 2017 - 2022" report has been added to Research and Markets' offering.

The global smart voice assistant speaker market will cross $4 billion, growing at an exceptional CAGR of more than 30% during the forecast period 2016-2022.

A smart voice assistant speaker makes use of voice assistant platforms such as Alexa by Amazon, Google Assistant by Google, Cortana by Microsoft, and other platforms.

The high usage of voice assistants and voice first technology primarily drive the growth. The usage is expected to increase by over 21% in 2017. Also, the per capita income and increase spending in connected devices and smart homes are driving the global smart voice assistant speaker market.

As the global smart voice assistant speaker market presents a lucrative revenue growth potential, many vendors are expected to enter the market during the forecast period, which is expected to make it highly fragmented. Chinese manufacturers will expand their presence in Europe and North America, which are likely to lead the price war among vendors, and the increased commoditization can also lead to low-quality products being manufactured. Major vendors mentioned in the report Alphabet (Google), Amazon

The global smart voice assistant speaker market is likely to witness an increase in revenue during the period 20162022. However, Arizton expects that the YoY growth will relatively slowdown continuously after that. The major reason being increased penetration of smart voice assistant speakers globally, especially in developed countries such as the US, Germany, and the UK. In 20162022, in value terms, the YoY growth of smart voice assistant speakers will be in double digits due to the high demand from North America and Europe coupled with the rise in awareness about these devices in developing countries of APAC and RoW.

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