Smart Speaker Market Increasing number of smart homes, rapid proliferation of multifunctional devices, rising disposable income, increased spending capabilities Cheap Laurent Koscielny Jersey , and growing trend of personalization are the key factors driving the growth of smart speaker market. However, availability of substitutes and issues related to connectivity range, compatibility, and power are restraining smart speaker market growth.
Further key findings from the report:
鈥?Virtual assistants are expected to experience significant growth during the forecast period. Since Cheap Kieran Gibbs Jersey , there is an increase in adoption of virtual assistant technology by major players in smart speaker market, as this technology allows multiple users to access it with multiple distinguishing and recognition capabilities, hence offering a customized user experience 鈥?Since Google Assistant made strong gains with the launch of Google Home, Amazon Alexa AI operating system fell to 69% share of smart speakers down from over 80% in the first half 鈥?Amazon Alexa accounted for the largest share of smart speaker market in 2016 owing to its advantages over tough competitors in terms of low cost and compatibility with a number of smart devices and apps Cheap Joel Campbell Jersey , such as garage doors, smart watches, security cameras 鈥?Among geographical regions, North America currently leads Global Smart Speaker Market in terms of market size. With increased demand and popularity one in six Americans now own a smart speaker Cheap Jeff Reine-Adelaide Jersey , over 16 percent of Americans own a smart speaker, or around 39 million people. The presence of key players such as Amazon, Google, Bose Cheap Jack Wilshere Jersey , and Apple in America drives the Global Smart Speaker Market growth in this region 鈥?Wi-Fi Global Smart Speaker Market is expected to grow at higher CAGR by 2026 as they offer a direct connection to the home network and allows user to access the internet and provides longer range, have a compact built in battery
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