This appears to be a significant element in smart speaker adoption. In addition, the creation of agreements between smart house manufacturers and smart speaker producers allows for seamless integration of smart home devices with smart speakers.

Other factors influencing market expansion include a rise in customer willingness to invest in cutting-edge technologies and a surge in smart device usage among the younger generation.

The rise in demand for smart home devices is a major driver propelling the smart speaker industry forward. Face and gesture recognition are among the biometric modalities supported by the X8. The new smart home device features an 8-inch full-view touchscreen display with 1280800 resolution, as well as a powerful four-microphone array for far-field voice interactions.

The Echo Studio is the company's best-sounding Echo and the first smart speaker to use Dolby Atmos, which provides an immersive, three-dimensional audio experience.īaidu released its latest Xiaodu Smart Display X8 smart speaker for the Chinese market in December 2019. With the all-new Echo, Echo Flex, Echo Dot with clock, and Echo Show 8, Amazon announced an all-new line-up of Echo devices to access Alexa at home in September 2019. According to Prophecy Market Insights has published a new research report titled “Smart Speaker Market, By Intelligent Virtual Assistant (Alexa, Google Assistant, Siri, Cortana, and Others (Xiaowei, DuerOS, Bixby, and AliGenie)), By Application (Smart Home, Smart Office, Consumer, and Others (Commercial and Automotive)), By Component (hardware (Speaker Driver, Connectivity IC, Processor, Audio IC, Memory, Power IC, and Microphone) and Software), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Trends, Analysis, and Forecast till 2029” in its research database.Ĭovina, Ma(GLOBE NEWSWIRE) - “According to the latest research study, the demand of Smart Speaker Market size was valued at USD 7.4 billion in 2020 and is expected to grow to USD 33.70 in 2030 at a compound annual growth rate (CAGR) of 16.5%”

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