Residential segment acquired the largest revenue share in Global Smart Speaker Market- 6Wresearch
The rise in residential construction projects attributed to growth of smart speakers globally. In addition, during the next three years, Planet Smart City in the UK plans to construct more than 40,000 houses across 54 smart projects augmenting the growth of smart speaker market.
According to 6Wresearch, Global Smart Speaker Market size is projected to grow at a CAGR of 15.4% during 2022-2028. Many countries have imposed lockdown regulations, which led to a decline in market demand for the majority of appliances. Although, the lockdown restrictions, made people spend more time at home and increased the demand for smart speakers. The U.S. Department of Energy (DOE) also announced in October 2021 that it will invest $61 million to 10 pilot projects to integrate new technology and convert thousands of homes and businesses into smart buildings. These smart building initiatives will thus contribute to the global rise of smart speakers in the next years.
According to, Shivali Sharma, Research Analyst, 6Wresearch, By Distribution Channel, online channel is anticipated to dominate the market on the back of increase in internet users all over the world such as in India only the internet users climbed to 29% in 2019 from 20% in 2018. Furthermore, customers can get more offers, discounts, variety through online channel.
According to, Vasudha Kaushik, Research Associate, 6Wresearch, “By Regions, Asia Pacific is anticipated to dominate the market on account of rising urbanization and increasing internet penetration. Asia's urban population is predicted to grow by 50%, or an additional 1.2 billion people, by the year 2050. Moreover, the establishment of eight million homes in India in 2023 and one million homes in Australia in next five years would further grow the market for smart speakers in Asia Pacific region.
Major players in Global Smart Speaker market are Amazon.com, Alphabet Inc, Apple Inc., Alibaba Group Holding Ltd, Bose Corporation, Sonos. Inc., Sony Group Corporation, Panasonic Corporation, Baidu Inc., Samsung Electronics Co. Ltd.
“Global Smart Speaker Market (2022-2028)” report provides an in-depth analysis with 141 figures and 95 tables, covered in 254 pages. The Global Smart Speaker market report thoroughly covers market by product type, by end users, by distribution channel, by region. Global Smart Speaker market report provides an unbiased and detailed analysis of the on-going Global Smart Speaker market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
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