New Market Report on Voice Assistant Opportunities in Consumer Electronics

Market research firm Futuresource Consulting announced the latest edition of its "Voice Assistants in Consumer Electronics" report. Voice Assistants (VAs) are being integrated into an increasing number and variety of connected consumer devices in multiple markets and are on course to develop as a major user interface over the next 2-3 years, according to this latest report, which leverages new industry and end-user research to assess the size and shape of the market at a worldwide and regional level.

2.2 billion digital assistant-enabled devices will ship in 2017, growing to 3.6 billion in 2022, says SAR Insight & Consulting in its latest research, "Digital Assistant Platforms; Use Cases, Technologies, Market Sectors & Competitive Analysis." According to the market research firm, home audio speakers will continue to lead the way, as voice recognition improves, with significant growth opportunities in smartphones, headphones, appliances, automotive, and the enterprise.

A new report by Juniper Research predicts that revenues from smart audio devices like the Amazon Echo and Sonos One will grow from an estimated $2.5 billion in 2017 to over $10 billion by 2022, as more audio brands integrate voice assistants into their devices. With competition heating up in the smart speaker space, the new research, "Smart Audio Devices: Strategies & Forecasts 2017-2022", looks at Amazon’s main challengers.

According to Global Market Insights, the global market for Smart Speakers represented over USD 400 million in 2016 and is predicted to grow at an estimated CAGR of over 50% from 2017 to 2024. The market research company says Internet of things (IoT) is expected to be a major factor driving growth. "The rising penetration of the Internet has extended to everyday applications and has increased the consumer demand for smart devices that offer a wide range of functions," they state.

Market research and consulting company, Futuresource Consulting recently released a new report in the consumer electronics CE space covering the emerging voice personal assistants (VPAs) category and smart speakers. The report highlights that we are the beginning of a wider market transformation, with voice personal assistants (VPAs) at the heart of a new CE land grab.