Voice technology has gradually moved from the laboratory to the industry and began to commercialize.The speech recognition accuracy of Google's voice technolog rose to 90% gradually after 2014, and reached 95% in 2017. It is close to the normal level of human beings, which is the realistic foundation of the speech interaction.
According to Chlue Research, the global Intelligent Loudspeaker shipment volume reached 12 million units in 2017 , and it will reach 164 million units in 2022, with a CAGR of 68.7%. Meanwhile, the market size of Intelligent Loudspeakers will exceed 1.5 billion US dollars in 2017, and it will reach 5.5 billion US dollars in 2022, with a CAGR of 29.7%.
With intelligent speakers as the breakthrough point, the smart home industry has a wide space. We expect the global consumer's spending on smart home services will increase from $8.9 billion in 2017 to $15.7 billion 700 million in 2022. North America will maintain the largest market, and second in the Asia Pacific region.
According to eMarketer statistics, more than 35 million Americans used intelligent loudspeaker at least once a month in 2017, an increase of 128.9% over the same period last year. Meanwhile, Amazon Echo accounted for 70.6% of the market share of intelligent loudspeaker in the United States.
The Intelligent Loudspeaker market research report analyzes global adoption trends, future growth potentials, key drivers, competitive outlook, restraints, opportunities, key challenges, market ecosystem, and value chain analysis. This report presents a detailed analysis, market sizing, and forecasting for the emerging segment within the Intelligent Loudspeaker market.
This study includes the profiles of key players in the market and the strategies adopted by them to sustain in the competition. Recent developaments and barriers of the market is expected to help emerging players to design their strategies in an effective manner. The study is expected to help key players in broadcast Intelligent Loudspeaker manufacturers to formulate and develop new strategies.
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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