Disruption in Global Manufacturing and Distribution Impact Sales During COVID-19 Crisis
The increased spending time at home during the COVID-19 outbreak has resulted in the boom of the “at-home economy”. This has led to the popularity of smart home speakers. Companies in the smart home digital assistant market are capitalizing on spiked interest toward smart home devices. As such, voice-enabled devices are being highly publicized for minimizing the transmission of COVID-19 pathogens. Hence, manufacturers in the smart home digital assistant (voice) market are increasing the availability of products that cater to smart locks and connected video doorbells to reduce face-to-face interactions.
Analysts at the Transparency Market Research opine that the pandemic is expected to push global voice control device shipments in 2021. However, adverse forces such as disruption in global manufacturing and distribution are anticipated to inhibit market growth. Hence, companies should help people get comfortable with hands-free interactions in public places to drive sales of smart home speakers.
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Data Security Concerns in Devices Likely to Affect Market Growth
Amazon and Google are aggressively innovating in their respective voice-enabled devices. However, there is an increased awareness about data security concerns as to how these tech giants collect and share their data. Hence, companies in the smart home digital assistant (voice) market are making improvements in devices that can automatically delete recordings of users on a routine basis, thus limiting a user’s access for prior voice commands.
The concept of fun-to-have gadgets for checking weather, playing music, and answering trivia questions is gaining prominence worldwide. In order to enhance user experience, companies are increasing efforts to eliminate the need for wake words such as Ok Google or Alexa in devices. Such innovative devices are bolstering the growth of the smart home digital assistant (voice) market, which is anticipated to cross the valuation of US$ 13.5 Bn by 2030.
Individualized Experiences Help Manufacturers Leverage Business Opportunities in Voice-based Advertising
Providing a more user-centric experience has become the key focus point for companies in the smart home digital assistant (voice) market. Emerging market players such as Samsung Bixby and Microsoft Cortana are focusing on integrating the voice technology with other products to boost sales. This involves compatibility and integration with refrigerators, thermostats, and other commodities. Manufacturers are gravitating to the idea of making custom devices that serve specific functions of users. They are tapping opportunities in voice-based advertising since many people are conducting voice search through mobile Apps.
Smart home digital assistants will continue to offer individualized experiences to users. Companies in the smart home digital assistant (voice) market are increasing the availability of devices that support multiple user accounts and are capable of detecting unique voices. On the other hand, voice push notifications are an efficient way to remind users of mobile Apps that are related to calendar appointments and the likes.
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Growing Demand for On-the-Go Entertainment Boosts Product Uptake
Choosing smart home speakers has become an easy task for customers since various information outlets compare and review the pros and cons of devices. This can either build or break the credibility of manufacturers in the smart home digital assistant (voice) market. Hence, companies can take the opportunity to constantly improvise in technologies in order to gain a competitive edge in the global market landscape. For instance, Sonos One is increasing efforts to gain an edge over Amazon and Google to deliver superior sound quality and voice assistance to users.
The growing demand for news consumption on the go, listening to podcasts, and music is likely to bolster the growth of the smart home digital assistant (voice) market. As such, artificial intelligence (AI) is acquiring prominence in smart home speakers to enhance user experience.
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Voice and Visual Capabilities Enable Users to Better Interact with Devices
Simple user demands such as finding local movie times, buying travel tickets, and making reservations for restaurant are fueling the demand for smart home speakers. Since manufacturers in the smart home digital assistant (voice) market are increasing efforts to combine voice and visual displays, they are increasing production capabilities for devices that display local traffic info, calendar events, and weather forecasts. Thus, visual and voice capabilities help users to better interact with the assistant.
In addition, companies are developing devices that can manage payments and sensitive information. The trend of voice payments is gaining popularity in the market landscape where voice assistants are becoming more secure and ID verification plays a pivotal role.
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Reports and Data has added a new market research report titled Global Smart Home Hub Market Forecast to 2028 to its ever-expanding database.
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Technological advancements, increasing need to develop sustainable and biodegradable products, and rising disposable income across the globe are key factors boosting global market growth.
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Market Research Future (MRFR) studies the global smart home and office market was valued at USD 37.11 billion in 2018 and is expected to reach USD 92.18 billion by 2025 with a CAGR of 14.01% from 2018 to 2025 (forecast period).
The report offers a holistic and reliable analysis of the effect of the COVID-19 pandemic on the global smart home and office market.
The smart office is a workplace that leverages technology to automate routine tasks and helps to optimize work.
Key Players ABB Group(South Korea), Siemens AG(Germany), Sony Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea), Lutron Electronics Co., Inc. (US), Eaton Corporation PLC (Ireland), United Technologies Corporation (US), Johnson Controls International PLC (Ireland), Legrand SA (France), Assa Abloy Group (Sweden), MDT Technologies GmbH (Germany), Gira Giersiepen GmbH & Co. KG (Germany), Ingersoll-Rand PLC (Ireland), ADT (US), Crestron Electronics, Inc. (US), Hager Group (Germany), Schneider Electric SE (France), Honeywell International Inc. (US), and Robert Bosch GmbH (Germany) among others.
Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/8670 Market Segmentation The global smart home and office market has been segmented into products, standards, and applications.
By product, the global smart home and office market has been classified as lighting controls (relays, switches, sensors, dimmers, and others), access controls (smart locks, biometric readers, smart card readers, and others), surveillance products (storage, security cameras, and monitoring devices, and others), HVAC controls (sensors, smart thermostat, control valves, smart vents, actuators, dampers, and others), and other products (smart smoke detectors, smart meters, and others).
Jun 04, 2019 (AB Digital via COMTEX) -- Market Synopsis
The Global Agriculture Bactericides Market is presumed to expand at 4.7% CAGR during the forecast period (2017-2023) owing to the rising demand for food grains, asserts Market Research Future (MRFR).
With the change in climate, there has been a noticeable increase in the pest life cycle which is considered to be one of the major factors driving the Agriculture Bactericides Market both in developed and developing countries.
Moreover, the growing demand for crop protectants from bacterial infection is estimated to foster the market growth at a global level.
The major players operating the global market for agriculture bactericides are-
E. I. du Pont de Nemours and Company (U.S.)
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