New York, NY -- (SBWIRE) -- 05/06/2019 -- Smart homes are witnessing a growing adoption globally with multiple device manufacturers making efforts to include connected properties into their devices. Objects such as furniture and locks are also getting connected, as manufactures search for better ways to catch up to the trend of digitization. With the increase in number of connected objects per household the need for a centralized control infrastructure has also emerged.

Addressing the need for centralized control system smart and networked speakers connect to the central internet of a household and serve as a control point for multiple connected systems. Smart and networked speaker integrate voice assistants and are primarily driven by voice commands captured by an inbuilt microphone. Smart and Networked speakers feature connectivity technologies such as Bluetooth, Wi-Fi and NFC that enable them to have widespread connectivity to control devices including smart lighting, security systems, smart kitchen appliances and thermostat among others.

Smart and Networked Speaker Market: Drivers & Challenges

Smart and networked speakers are witnessing an upsurge in the demand as they serve as an integral connecting point between the web of interconnected smart devices deployed in a smart home. Smart and networked speakers have also witnessed a wave of new functionalities being added to them by way of integration of multiple technology improvements in the way of new technology integrations. The increase in the number of use cases that can be addressed by smart speakers is thus driving the demand for smart and networked speakers.

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Smart and Networked Speaker Market: Segmentation,

Segmentation of Smart and Networked Speaker, By Technology:

Bluetooth
Wi-Fi
NFC
Others

Smart and Networked Speaker Market: Competitive Landscape

Key Contracts/ Acquisitions
LG will be debuting its premium range AI enabled smart speaker that will work on Google's Voice Assistant platform. The company has also developed a range of features in collaboration with Google.

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Key Players
The major players in Smart and Networked Speaker market include Altec Lansing, LLC, Amazon.com, Inc., Apple Inc., Bose Corporation, Devialet, Google LLC, Harman International Industries, Incorporated, Koninklijke Philips N.V., Sonos Inc. and Sony Corporation.