Smart Voice Assistant Speaker Market Increasing at A Phenomenal Pace to Reach more than USD 51.02 Billion by 2032

Major companies in smart voice assistant speaker market are Amazon.com, Apple Inc, Google, Microsoft Corporation, Alphabet Inc., Lenovo, IBM Corporation, Sony and Mattel amongst others. These players are set to bolster the development of global smart voice assistant speaker market.

According to analysts at Zion Market Research, The global smart voice assistant speaker market accounted for USD 12.32 Billion in 2023 and is expected to reach USD 51.02 Billion by 2032, growing at a CAGR of 17.1% from 2024 to 2032.

This review is based on a report by Zion Market Research, titled “Smart Voice Assistant Speaker Market by Intelligent Virtual Assistant (Alexa, Google Assistant, Siri, DuerOS and Others), by Distribution Channel (Online, Offline), by End User (Personal, Commercial): Global Industry Perspective, Comprehensive Analysis and Forecast, 2024-2032.”

Proliferation of Smart Devices Across Homes and Industries to Spur Growth

“Smart speakers especially Alexa and Google Assistant have become as prevalent as television sets in households. Consumers are also using smart speakers for other purposes such as online shopping and making calls,” says the author of this study. Apart from this, significant developments made in AI over the past decade are also expected to drive growth. Machine learning, for instance is a key AI technology for smart voice assistant speakers. It enables the device to learn on its own and get ‘smarter’ as more data is fed.

Global-Smart-Voice-Assistant-Speaker-Market

With the presence of a large pool of participants, the global smart voice assistant speaker market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR).  Amazon.com, Apple Inc, and Google are some of the key vendors of smart voice assistant speakers across the world. These players across smart voice assistant speaker market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products.

Citing an instance, in June 2020, Google decided to introduce additional features for its voice assistant, Google Assistant to various new devices. An important feature is voice match, which enables speakers to recognize the voice of the user and personalize responses accordingly.

Presence of Big Players In The Region Support North American Dominance

Regionally, North America has been leading the worldwide smart voice assistant speaker market and is anticipated to continue on the dominant position in the years to come, states the smart voice assistant speaker market study. The presence of big players in the countries such as the US is one of the key factors behind the dominance of the North America smart voice assistant speaker market. The high number of market players being headquartered in North America is another significant factor that is supporting this regional smart voice assistant speaker market.

Browse the full “Smart Voice Assistant Speaker Market by Intelligent Virtual Assistant (Alexa, Google Assistant, Siri, DuerOS and Others), by Distribution Channel (Online, Offline), by End User (Personal, Commercial): Global Industry Perspective, Comprehensive Analysis and Forecast, 2024-2032.” Report at https://www.zionmarketresearch.com/report/smart-voice-assistant-speaker-market

The global smart voice assistant speaker market is segmented as follows:

By Intelligent Virtual Assistant

• Alexa
• Google Assistant
• Siri
• DuerOS
• Others

By Distribution Channel

• Online
• Offline

By End User

• Personal
• Commercial

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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