Global Smart Speaker Market Size worth over $30bn by 2024

Published Date: July 23, 2018    Authors: Ankita Bhutani, Pallavi Bhardwaj

Smart Speaker Marketsize is set to exceed USD 30 billion by 2024; according to a new research report by Global Market Insights, Inc. The global shipments are set to grow at over 33% CAGR between 2018 and 2024.
 

The smart speaker market is expected to witness a significant growth due to the increasing penetration of smart homes across the globe. Several factors, such as growing need to increase consumer convenience and growing network connectivity, will drive the demand. Companies are integrating these devices with intelligent home appliances such as humidifiers, Ikea lightbulbs, thermostats, and salt shakers. In 2018, Baidu launched Sengled, a smart speaker that also performs the functions of an intelligent light.