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: +1 630 333 9501UK: +44 208 123 1770www.technavio.com