Increased smartphone storage space, availability of music streaming apps and a shift towards 4G have led consumers to increasingly use their smartphones as the primary medium to listen to their music on the go or at home which in turn is driving sales of wireless speakers. As a relatively low cost device, wireless speakers are also evolving into smart assistants that will provide numerous untapped opportunities and bring households closer to a connected home.
The proliferation of smartphones and the increased availability of music streaming apps are boosting the growth of wireless speakers.
Paid subscribers are more likely to be willing to opt for a premium wireless speaker having invested in a music subscription.
Consumers are increasingly willing to spend in order to free up time for more important and satisfying things in their lives by leveraging apps and technology.
The device-agnostic nature of major voice control technology means that it can be found or may be installed in numerous existing product categories such as wireless speakers and home cinema and speaker systems.
Amazon will hold on to its lead as the forerunner in the smart assistant speakers market due to its tightly integrated services.
Online retailers such as Amazon have the most to gain from widespread adoption of the smart assistant speakers. Critically, this provides another endpoint for consumers to interact with and purchase from.
Industries that are set to be boosted by the growth of smart assistant speakers tend to be those that are able to bring about convenience to households’ mundane but routine chores or fulfil their entertainment needs.
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