Smart Speaker Market to Grow at 34.44% CAGR to 2023 - Seite 2

The smart speaker market for Siri will grow at highest CAGR between 2018 and 2023. This report covers the following intelligent virtual assistants (IVAs): Alexa, Google Assistant, Siri, Cortana, and others (Xiaowei, DuerOS, Bixby, and AliGenie). The market for Siri is expected to grow at the highest CAGR between 2018 and 2023. This growth can be attributed to Apple's established market for its smart devices. Siri's main advantage over other IVAs is its virtual surround sound technology and deep integration with Apple's product line. The company's strong brand and consumer base are expected to fuel the market for Siri-enabled smart speakers.

The Smart Speaker Market for software to grow at higher CAGR between 2018 and 2023. This report has been segmented on the basis of components into hardware and software. IVA platform in a smart speaker compliments hardware by storing and recalling spatial data and allows live data streaming rather than static data. These functions require software with high computing and functionality, which would require advanced software.

The smart home application held largest share of smart speaker market in 2017. This report has been segmented on the basis of applications into smart home, smart office, consumer, and others (commercial and automotive). Smart home held the largest market share in 2017 owing to changing lifestyle, increasing per capita income, and the inclination of smart home owners toward luxurious entertainment systems.

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The smart speaker market report covers the following IVAs: Alexa, Google Assistant, Siri, Cortana, and others. Smart speakers are mainly used in smart home, smart office, consumer, commercial, and automotive applications. On the basis of components, this market has been segmented into hardware and software. The market is divided on the basis of regions into North America, Europe, APAC, and RoW.

North America leads smart speaker market in terms of market size. Breakdown of Profiles of Primary Participants:

• By Company Type: Tier 1 - 55%, Tier 2 - 25%, and Tier 3 - 20%
• By Designation: Directors - 50%, Managers - 20%, Vice Presidents - 25%, and Others - 5%
• By Region: North America - 40%, APAC - 15%, Europe - 35%, and RoW - 10%