Smart Speaker Market By Platform, Regions, Companies, Forecast To 2026

ROSWELL, Ga. - April 6, 2021 - PRLog -- Smart speakers are wireless speakers enabled by Bluetooth, Wi-Fi, or other wireless protocols and powered artificial intelligence. It is the most advanced technological revolution governing the global technology industry. It also operates other functions, such as obtaining weather data, recent news, listing day to day activities, and blending with the smart home devices. The smart speaker's multiple features provide an edge to the smart speaker market over other substitute technological products and services. According to Renub Research new report, Global Smart Speakers Market is expected to reach US$37.8 Billion by 2026.

The key factors for the growth of the smart speaker industry globally are:

• Expanding smart home devices
• The increasing desire for multifunctional devices
• The rise in disposable income
• The greater inclination toward technological products among millennials

Also, the formation of the 5G infrastructure is expected to drive smart speakers' growth globally. The delivery of quick and efficient acknowledgement by the smart speakers is possible with high-speed internet since this wireless standard is anticipated to render explosive data transfer speed up to 10 GBPS. As per this report, Global Smart Speaker Industry will grow with a double-digit CAGR of 15.89% from 2020-2026.

Global Smart Speaker Market Segment Analysis:

Google Assistant smart speakers are expected to dominate during the forecast period. It is growing because of its comparatively low cost and compatibility with smart devices and apps, such as smart switches, garage doors, sprinklers, locks, and security cameras. Also, it is expected to hold the largest market share during the forecast period due to the increasing usage of devices in smart homes. As per our research findings, the Worldwide Smart Speakers Market was US$ 15.6 Billion in 2020.

Global Smart Speaker Market Regional Insights:

North America is currently driving the smart speaker market and is apprehended to be in the leading place in the coming years due to smart speakers' high performance.

About the Company:

Renub Research is a Market Research and Consulting Company. We have more than 10 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide a wide range of business research solutions that helps companies in making better business decisions.

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Follow the link for the full report with detailed TOC and list of figures and tables: https://www.renub.com/smart-speaker-market-p.php