Seattle, WA -- (SBWIRE) -- 11/20/2019 -- Smart speaker is a wireless speaker enabled by Bluetooth, Wi-Fi , or other wireless protocols and powered by virtual assistant, which is driven by artificial intelligence. It is the latest technological innovation dominating the consumer technology market and is activated by a voice command to perform different tasks such as listening to music, ordering food, and online shopping. It also performs other activities, such as obtaining weather information, latest news, listing day to day activities, and integrating with the smart home appliances. These multiple features provide an edge to smart speaker market over other substitute technological products and services.
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Increase in demand for smart home devices is the significant factor that drives the growth of the smart speakers market. Other factors, which influence the market growth are increase in consumer readiness to invest on trending technologies and rise in usage of smart devices among the younger generation. Also, the development of partnerships between smart home manufacturers and creators of smart speakers enables smooth integration of smart home devices with the smart speaker. This proves to be a key factor in the adoption of smart speakers. However, with the use of smart speaker, privacy of users' data becomes a major issue for the consumer demand. Smart speaker provides personalized service to its users by collection and analysis of the users' data. The potential of exploitation of user's private data by the manufacturers and the threat of illicit cyber-attacks to invade privacy restrict the demand for the smart speakers from the consumers. Also, complexity in training the virtual assistants with various languages spoken around the world limits the global reach of smart speakers.
The major companies profiled in the report include Apple, Google, Bose, Harman, LG Electronics, Altec Lansing, Avnera, Panasonic, DandM Holdings, Sharp, Logitech International, Sonos, Sony, SK Telecom
The Competitive Spectrum:
The Market report compile the competitive territory of this business place, that crucially includes the leading companies in the Market. Here the comprehensive information about the sales quantity and the market size collected from each of the company, in addition to the gross margin of every player. A basic overview of the companies, along with its key rivals and its manufacturing foundation has been given. The report besiege, in micro-level detailing, information regarding the products produced by each and every company of the Smart Television industry, product specifications, application scope and also the price patterns. Technological Developments of Smart Television Market has also added incredible growth to the market.
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