Europe Smart Speaker Market (2022-2028) | Share, Size, Industry, Outlook, Growth, Revenue,Forecast, Analysis, Trends, Value, Segmentation & COVID-19 IMPACT

Europe Smart Speaker Market Synopsis

Europe Smart Speaker Market is anticipated to experience growth owing to multiple factors during the forecast period. Major drivers for the growth of the European smart speaker market include increasing adoption of voice-enabled technologies across various sectors and applications, increasing demand from businesses, and continued development of intelligent assistant (IA) capabilities.

According to 6Wresearch, the Europe Smart Speaker Market size is expected to grow during 2022-2028. Smart speakers can be broadly classified into five categories based on their functionalities: voice control/dialogue agents; messaging platforms; productivity tools; media streaming devices; and security/home automation controllers. Voice control/dialogue agents include Amazon Echo family members Alexa and Google Home family members Hangouts Dialogues; messaging platforms include Apple’s iMessage.

Drivers in the Europe Smart Speaker Market

Some of the Factors driving the Europe Smart Speaker Market growth are:

• The increasing adoption of voice-activated assistants (VAA) across various industries. This trend is expected to continue over the next few years, as more and more companies adopt VAA in their respective businesses.
• The smartphone ecosystem is expected to play a major role in driving demand for smart speakers. This is because people are increasingly using their smartphones as assistants and devices for managing day-to-day tasks. As such, they are likely to shift their spending on smart speakers toward products that integrate well with their smartphones.
• Increasing demand for hands-free usage. This growing trend is mainly attributable to the increased popularity of audio streaming services such as Spotify and Apple Music, which allow users to listen to music without having to raise their hands.
• Increasing popularity of Amazon Echo devices. These devices have been extremely well received by consumers due to their sleek design and ability to interact with various online services. In addition, Amazon has been investing heavily in its ecosystem around Echo devices, so users can access a wealth of premium audio content without having to use headphones.
• The other key drivers behind the growth of the Europe smart speaker market are increased adoption rates for virtual assistants like Siri and Google Assistant, as well as rising demand for multi-room audio capabilities.

Challenges in the Europe Smart Speaker Market

Some of the challenges that are anticipated to hamper the Europe smart speaker market revenue include limited availability of content and services, high price points of smart speakers, and lack of interoperability among different smart speakers.

Market Analysis Based on Countries

Based on Countries, France and Germany has emerged as one of the leading players in the Europe smart speaker market share owing to its strong presence in the automotive and consumer electronics sectors. The country is home to some of the leading vendors such as Bose, Google, Amazon, and Apple. These vendors are aggressively expanding their sales channels across France to capture a larger share of the domestic market. Moreover, French startups are also gaining traction in the burgeoning smart speaker sector. This is likely to stimulate growth in the market over the next few years.

However, stiff competition from regional rivals such as Germany and Italy will pose a major challenge for vendors in France over the next few years. Furthermore, rising deployment costs associated with voice-activated technology are hampering adoption by corporates across France. However, these challenges are expected to be overcome by vendors over the next few years as they continue to invest in advancements in Artificial Intelligence (AI) and machine learning capabilities.

Market Analysis Based on Distribution Channel

Based on Distribution Channel, Offline distribution channels are gaining importance in Europe due to the growing trend of using smart speakers in public places such as hospitals, schools, airports, and malls. Offline distribution channels allow Smart Home providers to reach customers who do not have access to Wi-Fi or cellular networks. This includes deploying kiosks in high footfall areas where people can purchase a subscription or download apps for their devices. In addition to this, retailers such as supermarkets are also adopting offline distribution channels by installing shelves with smart speakers installed near cash registers. This allows shoppers who want to buy a product on their way out to do so without having to search for an app or go through lengthy checkout processes.

Impact of COVID-19 on the Europe Smart Speaker Market

The COVID-19 pandemic has had a significant impact on the Global Smart Speaker Market. The isolation is expected due to the strict lockdown imposed by the governments. The demand has risen slightly as the demand for speakers increased to consume entertainment in the house, but it was affected by the frozen markets due to no movement polices during the lockdown which also affected the supply chains across Europe.

Consequently, demand for smart speakers in Europe has fallen significantly since COVID-19 first emerged. This decline is likely to continue until manufacturers are able to develop workaround solutions that work reliably in all regions affected by the pandemic.

Key Highlights of the Report:

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2018 to 2021.
• Base Year: 2021.
• Forecast Data until 2028.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.