Technavio has announced the top five leading vendors in
their recent global smart speaker market report until 2021. This
research report also lists six other prominent vendors that are
expected to impact the market during the forecast period.
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Technavio has published a new report on
the global smart speaker market from 2017-2021. (Photo: Business
Wire)
The global smart speaker market is likely to experience high
growth during the forecast period, which is attributed to the
growing number of smart homes across the globe that is continuously
increasing the demand for the speaker. Smart speakers allow the
users to operate the device with the help of voice and hence offers
virtual assistance. Another major reason for this growth is the
convenience offered by this type of device to operate the speaker
wireless through mobile devices such as smartphones and laptops. It
also allows the users to carry the speaker from one place to
another without having to struggle with wires.
Competitive vendor landscape
The global smart speaker market is highly competitive because of
the presence of many large vendors. During the forecast period, the
competition will become more intense among vendors with an increase
in product extensions. Organizers will compete to gain competitive
advantages in the market. Service providers are competing based on
pricing, technology, features, sound quality, design, and size.
Ujjwal Doshi, an industry expert at Technavio for research on
consumer electronics, says, “Technological innovations and
creativity play a significant role in driving the market growth. To
sustain in the competitive market, vendors have to develop new
ideas and technologies and stay up-to-date with the emerging trends
and advanced technologies that could influence service lines.
Amazon.com, Apple, Google, Harman International, and Sony are some
of the major vendors operating in the market.”
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Top five smart speaker market vendors
Amazon.com
Amazon.com is an e-commerce company that serves a large customer
base, including content creators, enterprises, and sellers. It
offers services that include co-branded credit card agreements and
advertising services.
The company designs, manufactures, and sells electronic devices
that include Kindle eReaders, Fire TVs, Fire tablets, and Echo.
Kindle, which is one of the most popular eReading devices. Within
five and half hours of the launch, the product went out of stock
for nearly five months.
Apple
Apple is the second largest IT company in terms of revenue,
globally. The company offers hardware and software that includes
PCs, mobile devices, OS, related software and applications, and
peripherals. Apple's key product offerings are classified under the
iPhone, iTunes, iPad, Mac, Software and Services, Accessories,
Apple Watch, Apple TV, and iPod segments. It offers its own OS, iOS
and OS X, and various application software services. Also, it
distributes third-party digital content and applications through
its iTunes Store and App Store.
Google
Google is a multinational corporation that specializes in
internet-related services and products, which include online
advertising technologies, search engine, cloud computing, and
software. The company operates through a single segment called
Google. It offers advertising solutions to millions of
companies.
Google offers a wide range of products across many devices. The
company generates revenue by delivering both performance
advertising and brand advertising. Performance advertising creates
and delivers relevant advertisements.
Harman International
Harman International is a global provider of audio products and
infotainment equipment for the automotive industry. The company
also provides electronic systems for audio professionals. The
Harman International is divided into three segments, which include
lifestyle audio, infotainment, professional.
Lifestyle audio includes automotive branded audio, home theater
systems, personal audio, loudspeakers, Blu-ray and DVD players,
receivers and digital processors, advanced software, and embedded
audio. This segment deals with the audio and electronics for
multimedia, home, and mobile applications.
Sony
Sony designs, manufactures, and sells electronic devices and
related accessories for business and personal use. It is a
multi-dimensional company with more than 100 product portfolios,
ranging from electronics to entertainment and media to financial
services.
Sony is segmented into eight segments, which include home
entertainment and sound, game, mobile products and communications,
imaging products and solutions, devices, pictures, music, and
financial services.
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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
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