The global smart speaker market was valued at US$ 2,384.5 Mn in 2016 and is projected to register compound annual growth rate (CAGR) of 18.00% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “Smart Speaker Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026.” The report suggests that rising trend of building smart homes globally, increasing efforts to improve consumer experience, along with the growing voice assistant system trend is likely to spur the demand for smart speakers in the coming years (2018 to 2026).

Browse The Report: https://www.transparencymarketresearch.com/smart-speakers-market.html

As key players introduce their new smart speakers in developed markets such as North America and Europe, these regions are likely to account for a dominating share of the global smart speaker market. Growing demand for smart speakers from emerging markets such as China and India is likely to boost growth of the Asia Pacific smart speaker market at a growth rate of around 18.01% from 2018 to 2026.Smart speakers come in a range of different sizes and shapes and are growing in terms of popularity in the last few years. Smart speakers are music speakers that can interact with users with the help of an integrated voice recognition system. There are different brands of smart speakers in the market such as Amazon Echo, Apple HomePod, Google Home, and many more. However, these smart speakers can lead to security concerns over the user’s privacy.

On the basis of voice assistant type, the smart speaker market is segmented into Amazon Alexa, Google Assistant, Apple Siri, Microsoft Cortana, and others. The others segment includes voice assistant systems provided by the Alibaba Group and Xiaomi, Inc. Google Assistant segment is expected to expand at a CAGR of over 19% during the forecast period. Amazon.com, Inc. was the first to enter the smart speaker market by launching Amazon Echo device in the year 2015. Google, Inc. launched a smart speaker named “Google Home” in 2016 and later “Google Home Mini” in October, 2017 at a much lower price. Google Home is projected to grow at a much faster rate, as it is competitively priced as compared to Amazon.com and it is also eying both the smart-home and e-commerce space.

Get Sample Copy of this report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=29225

North America is expected to hold higher market share throughout the forecast period. The growth is mainly due to the booming smart speaker marketplace with the presence of well-established players across the region, especially across the U.S. and Canada. North America is home to many well-established players from the smart speaker domain including Apple, Inc., Amazon.com, Inc., Google, Inc. and Harman International. Furthermore, North America is witnessing higher adoption of smart speakers by the continuously rising consumer preference toward technologically advanced products. Many companies across the U.S. are launching novel smart speakers made specifically for a particular industry.