Voice-Controlled Speaker Market to Explode in Five Years

The total number of voice-controlled smart speaker units, including room speakers, portable battery-powered speakers, sound bars, and wireless multiroom speakers, shipping globally is expected to increase from around 10 million to approximately 80 million, between 2017 and 2022 according to a report from Research and Markets.

Voice-controlled smart speakers are experiencing significant growth and are playing an important role in the evolution of the voice user interface, the firm concluded in its report, titled "Voice Controlled Smart Speaker Ecosystem: Market Growth, Platform Capabilities, Key Players, and Competitive Landscape." Recent developments in artificial intelligence and natural language processing to enhance voice recognition capabilities have increased the overall demand for voice software platforms embedded in speakers and smart home devices, it said.

The report also notes that a range of innovative voice technologies are creating opportunities across a broad range of use cases, from streaming content and controlling smart home devices to automotive voice recognition and biometrics for authentication purposes. A growing share of voice assistant platforms are now opening up to third-party developers and being integrated into a number of consumer devices for wider application, it also noted.

Additionally, platform vendors like Amazon, Google, Apple, and Microsoft are now providing voice enhancement software either for dedicated speaker devices or licensed as third-party software solutions. Furthermore, a growing share of home audio devices will have built-in MEMS microphone technology and offer voice input functionality to a growing base of consumers worldwide.

The report singles out Amazon, Baidu, Bose Djingo, Facebook, Gatebox, Google, Harman Group, SoundHound, IBM, iFlytek, Lenovo, LG, LingLong, Mattel, Microsoft, Nuance Communications, Onkyo, Samsung, Sonos, Sony, Vinclu, Xperi, and Yamaha as companies that all have a stake in the smart home speaker market.

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