Electronics and Media
Tactical communications market to gain traction across war-torn geographies, MEA to emerge as one of the crucial revenue pockets 2017-2024
General Dynamics’ latest innovations at Rhode Island quite vividly portray the firm’s powerful stance in tactical communications market. The demonstration, held in the third quarter of 2017, witnessed General Dynamics, a major aerospace & defense company partaking in U.S. tactical communications market share, exhibiting its ability to command, connect & control bluefin robotics UUVs (unmanned underwater vehicles) and third-party UAVs (Unmanned aerial vehicles) with a simulated submarine combat control center ashore via STAPLS (stackable air-powered launch system) at the U.S. Naval Undersea Warfare Center. The principal goal of the firm was to offer novel solutions to the two-way communications problems occurring underwater. Experts claim General Dynamics’ move to have quite an impact on the competitive spectrum of tactical communications industry, given that other companies would be emboldened to brainstorm an even more innovative range of solutions.
U.S. Tactical Communications Market Size, By Application, 2016 & 2024 (USD Billion)
The introduction of state-of-the-art technologies such as magnetic ear canal has helped in effectively promoting a two-way communication in covert & stealth conditions, on the grounds of which this technology finds massive applications in undercover operations, further strengthening the application spectrum of tactical communications market. This business sphere is also a witness to several strategic M&As, which have had a profound impact on the tactical communications industry outlook. Recently for instance, Evolving Systems Incorporation, a U.S. based telecom giant, has acquired Business Logic Systems, a UK headquartered telecom company, in a bid to expand its consumer base across the globe. Furthermore, the deal is slated to help expand Evolving Systems’ managed services platform to effectively offer tactical solutions to clients, in effect, strengthening its position in the regional tactical communications market.
Tactical communication products are extensively installed across building & construction, aviation, and public safety sectors. The escalating requirement for uninterrupted and covert communication during critical military & defense operations for public safety is expected to augment tactical communications industry size across public safety. The building and construction sector is also forecast to emerge as one of the most lucrative end-use domains in the ensuing years. One of the most vital reasons for the same is the consistent demand of headsets in this business space, for effective communication. The construction sector, which has been at its peak in the APAC zone – in countries such as India and China will thus emerge as a major growth avenue for tactical communications market.
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Speaking along similar lines, the regional governments across the APAC have lately been strengthening their defense sectors, via extensive funding. Furthermore, it is noteworthy to mention that the rapid industrialization across the region, coupled with the procurement of protective equipment & secured communication channels are likely to substantially impel Asia Pacific tactical communications industry size. India and China, being nearly at the forefront of the defense and construction sectors, have been predicted to emerge as the key revenue pockets for this continent.
Tactical communications have become a vital necessity across war-torn countries such as Syria. The prevalence of internal conflicts in countries like Nigeria has also necessitated the deployment of tactical communication products in the region. In consequence, this intensive demand for tactical headsets, PMRs, and related products would have a profound impact on Middle East and Africa tactical communications industry size, which is expected to emerge as a rather profitable growth avenue for the overall market in the ensuing years.
Extensive investments in R&D programs are expected to have a commendable impact on the product landscape of tactical communications market. Having recognized the same, firms such as Bose Corporation, TEA Headsets, FreeLinc Technologies Incorporation, and INVISIO Communications have been pouring in their finances in research and development activities. Bose Corporation, for instance, recently invested quite some amount to develop headsets for the aviation sector in order to provide excellent Bluetooth audio quality and personalized audio arrangement. In effect, tactical communications industry stands to gain an appreciable momentum in the years ahead, with a target revenue of over USD 30 billion by 2024.
Author Name : Dhananjay Punekar
India Aerospace & defense market to witness massive gains from rising cybersecurity concerns, Global revenue to surpass USD 23 billion by 2024
One of most profound factors driving the growth of India aerospace & defense market is the extensive number of initiatives undertaken by the Indian government. The government’s decision taken a few years before, for instance, to increase the FDI limit from 26% to 49% in the defense sector, is remnant of the fact that India aerospace & defense market represents a vital sector in the national landscape. The raise in the FDI limit had apparently permitted foreign institutional investors, venture capital organizations, and foreign portfolio investors to make maximum capital investments up to 24% in defense firms thereon. With the ample availability of a highly-skilled workforce and the ‘Make in India’ initiative gaining greater prominence across the country, Indian firms are expected to play a vital role in the aerospace & defense value chain comprising research & development, training, production, quality control, and maintenance, which would further transform India aerospace & defense industry outlook.
India aerospace & defense market size, by air solution, 2016 & 2024 (USD Million)
India procures nearly 70% of its defense supplies via imports, through which the country has earned the tag of being one of the largest importers of aerospace & defense equipment across the globe. The remainder of the 30% of defense equipment is supplied by the private sector, the Ordnance Factory Board (OFB), and the Defense Public Sector Undertakings (DPSU). A substantial number of components for the defense materials are also procured from the overseas. The Indian government has been undertaking tremendous efforts to overcome this drawback through its ‘Make in India’ Program, which may certainly have a remarkable impact on India aerospace & defense market trends in the ensuing years.
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In a recent move that has been anticipated to spur India aerospace & defense industry share, Sika Interplant Systems Limited, a Bangalore-based engineering firm providing services to marine, aerospace, and automotive sectors, has formed a joint venture with a UK-based aviation & aerospace giant, Aerotek Aviation Engineering Limited, in India. The strategic partnership is a part of ‘Make in India’ initiative and will offer services such as production and MRO (maintenance, repair, and overhaul) of landing gears for airplanes and helicopters. A recent unveiling of new aerospace & defense component manufacturing facility by Nucon Aerospace, a key participant across marine, ground & aerospace sector, in Hyderabad is also expected to provide a boost to the ‘Make in India’ program, which would ultimately stimulate India aerospace & defense market size.
Aerospace & defense equipment are extensively used by the Indian military, navy, and the air force. Thus, the large -scale production of aircrafts, communication equipment, helicopters, and missiles in the country have contributed significantly toward augmenting India aerospace & defense market revenue. In addition, the escalating need for increasing the aircraft fleet size with the inclusion of supporting aircrafts such as rescue, emergency & repair, and medic aircrafts have been forecast to impel the business landscape.
Major firms such as Bharat Dynamics Limited, Tata Advanced Systems Limited, Hindustan Aeronautics Limited, Lockheed Martin, BAE Systems AB, and Tata Power Strategic Engineering Division have been attempting to innovate numerous equipment, in a bid to substantially augment India aerospace & defense market share. Aided by substantial government support, India aerospace & defense industry size has been forecast to surpass USD 23 billion by 2024.
Author Name : Dhananjay Punekar
Exoskeleton market to accrue commendable gains via healthcare applications over 2017-2024, North America to emerge as a major revenue pocket
ReWalk Robotics’ soft exoskeleton launch has apparently taken exoskeleton market by storm. The product has been exclusively designed by the USA-based exoskeleton industry player to help in the rehabilitation of patients suffering from lower leg limb disability due to strokes. The device would also help patients diagnosed with Parkinson’s and multiple sclerosis to heal faster and regain their balance. Characterized by technological innovations, exoskeleton market strives to bring about a transformation in rehabilitation devices for consumer comfort. In yet another breakthrough, Lowe’s companies Incorporation, a key player across the retail industry, and Virginia Tech, an educational institute & university based in the U.S., have built a soft & light exosuit to help the employees working in Lowe’s retail stores to easily lift and move heavy products across the store.
U.S. Exoskeleton Market, By Application, 2014-2024, (USD Thousand)
In the first quarter of 2017, exoskeleton market witnessed one of the most potentially lucrative deals, with Parker Hannifin Corporation, a key manufacturer of motion & control technologies, introducing a therapy software suite for its Indego exoskeleton across Europe. The new suite has made Indego a unique exoskeleton for non-trajectory based gait training & treatment. Furthermore, Lockheed Martin, a U.S. based aerospace, defense, and security firm, has also launched a computer-regulated exoskeleton device referred as FORTIS Knee Stress Release gear that helps soldiers counter stress on their legs & lower backs. It also improves their load carrying capacity and movement, preventing injuries and exhaustion. The advent of consecutive innovations will encourage other business players to follow suit, thereby contributing toward augmenting the overall exoskeleton industry size.
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Recently, scientists have unveiled a robotic exoskeleton that helps in restoring balance through accurate gait correction, thus avoid dangerous falls. The new device is also expected to help the elderly, amputees, and disabled people to maintain balance and steadiness. The WHO claims that potential falls resulting in fatal injuries are one of major causes of death. This is evident from the estimates – falls result in the death of over 640,000 people per year, with nearly 37.3 million severe falls requiring medical treatment.
Exoskeletons find wide applications across healthcare, industrial, and military sectors. The introduction of new technologies across the healthcare sector to ensure the safety coupled with the allocation of funds for healthcare will spur the product penetration. Healthcare applications are expected to account for nearly half of the exoskeleton market share by 2024, having contributed a substantial share in 2016. Furthermore, notable initiatives taken by various defense departments for manufacturing advanced exosuits for their army personnel are expected to spur exoskeleton market trends across the military sector, which is forecast to contribute over USD 900 million by 2024.
Exoskeletons are rapidly gaining momentum across myriad geographies. The huge presence of exosuit manufacturers and escalated product demand across military & healthcare sectors are anticipated to stimulate North America exoskeleton industry outlook. This regional market, as per estimates, is expected to record a CAGR of over 48% during 2017 to 2024, with U.S. being one of the key contributors. Mounting awareness about the beneficial use of industrial robotics in manufacturing activities and the rise in the production of wearable robots across the defense sector are predicted to be the key factors driving APAC exoskeleton industry, with China and South Korea forecast to be the major revenue pockets.
Major corporations such as ReWalk Robotics, Lockheed Martin, REX Bionics, Panasonic Corporation, and Cyberdyne Incorporation have made remarkable contributions toward augmenting exoskeleton market size in recent years. The recent breakthroughs witnessed across the business landscape indeed validate the claims put forward by market analysts, who state that exoskeleton industry size would be worth more than USD 3.4 billion by 2024.
Author Name : Dhananjay Punekar
Rising security concerns to spur biometrics market growth over 2017-2024, IoT, E-commerce, & smartphones to be the major driving trends
Increasing adoption of technology in the security vertical and the confluence of organizations to meet authentication standards has added a renewed dynamism to biometrics market. With the biometrics technology having marked its presence across the security landscape, it is now rapidly penetrating its way into consumer, government, and industrial systems. Based on the concept of statistical analysis of biological data, the biometrics technology is proclaimed to be less prone to cybercrimes and hacking. Recently, Mexico’s National Banking and Security Commission has announced a new regulation in the country that would require all the banks to deploy fingerprint scanners for the clients by 2018. Another instance is of FacePhi Biometria, where the company is seen signing deals to bring its selfie-based authentication system especially in the financial sector. Similar moves are likely to materialize in the coming years, in turn, propelling biometrics industry size.
U.S. Biometrics Market Size, By Product, 2013 – 2024 (USD Billion)
Global Market Insights, Inc., claims that biometrics market will exceed USD 50 billion by 2024, having been pegged at USD 12 billion in 2016. High acceptance of biometrics in various verticals such as mobile banking and other financial services has further favored the growth of biometrics market. As the cybercrimes and identification errors are captivating the industry verticals, there has been a significant upsurge in the adoption of biometrics to ensure data security and privacy. Lately, there has been a plethora of fraudulent cases and data breaches in the financial sector. JP Morgan Chase for instance was one of the major victim, where the hackers accessed the critical data of approximately 83 million customers. Such potential threats of data breach have led to greater demand for biometrics technologies in the banking & finance sectors. As per the report, biometrics industry share is set to gain lucrative avenues from banking and finance sector, projected to register a healthy growth rate of 22% from 2017-2024. Apart from this, biometrics industry is also likely to demonstrate noticeable growth in healthcare, transportation, consumer electronics, and defense services. In fact, the transportation application within biometrics market is estimated to be the highest revenue contributor in the coming seven years.
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With the significant expansion of its vast application arena, it is quite evident that biometrics technology is gaining lot of popularity as it works on identification of individuals’ biological information. This technology uses physiological and/or behavioral characteristics of people to authenticate their identity. As every individual is unique, this technology uses separate identifiers such as face recognition, fingerprint, palm veins, hand geometry, DNA, iris recognition, voice and retina. Many companies have adopted these techniques to improve the security features. For instance, Samsung and LG have incorporated iris scanners into their smartphones on a wider scale. The voice recognition technology is also seen gaining considerable traction in the mobile banking and commercial sector. The voice recognition segment of biometrics market is expected to register a CAGR of 22% over 2017-2024, claim estimates.
Over the coming years, biometrics industry is expected to witness several technological advancements that will make authentication more secure and convenient. Below mentioned are the three trends that will strongly influence the industry growth.
Mobile payment is touted as the future of financial transaction and is thus getting incorporated with biometrics to provide a strong security interface. Governments and businesses are vigorously looking for reliable authentication devices such as mobile biometrics to speed up human identification processing, in turn, providing a commendable impetus to biometrics market demand. Such technologies running on personal smartphones are sure to offer biometrics market the opportunity of clocking excellent growth rates in the ensuing years.
With the rapid growth of online shopping, online payment methods are slated to be subject to a lot of threats. The biometrics technology is expected to do wonders in this segment as accessing of user accounts through iris, facial recognition and fingerprints could go long way in ensuring a secure login than regular pins and credentials, validating the contribution of e-commerce in the growth of biometrics industry.
Internet of Things
One of the biggest biometrics market trends to watch for will be the adoption of this technology parallel to the massive expansion of IoT. IoT being the biggest emerging concept for both businesses and consumers undeniably requires a robust security spectrum to protect critical data. In response to this, in the coming years, the global biometrics market will witness a remarkable upsurge with the technology being integrated in a wide variety of IoT applications ranging from smart homes, banking, healthcare, and automotive.
With the advancements and evolution in the tech space, identity management and security are certain to be the top-notch priorities of the businesses. Taking into account this trend, it is unarguable that biometrics industry is set to witness a profound profitability quotient in the ensuing years.
Author Name :Ojaswita Kutepatil
APAC electric household appliances market to witness exponential growth over 2017-2024, increasing regional urbanization to favor the trends
Electric household appliances market is witnessing a substantial influx of high-priced appliances with advanced features that are designed to reduce human work and provide superior home care. The worldwide electric household appliances industry players are emphasizing on developing smart and automatic devices by integrating electronics with intelligent sensors and machine programming. Smart electric household appliances have already become a necessity for most of the households and can aptly be termed under the common saying “Home is where the smart is”. The global Electric Household Appliances Market is forecast to show strong growth prospects, as consumers have become more affluent and their choice of appliances have also become more sophisticated.
India Electric Household Appliances Market Size, By Product, 2016 & 2024 (USD Million)
Electric household appliances industry is poised to witness increasing demand for energy efficient products, especially against a backdrop of escalating electricity charges worldwide and growing government emphasis on minimizing energy consumption. The magnitude of growth across each product market such as air conditioners, kitchen appliances, dishwashers, washing machines, refrigerators, freezers, and dryers are prominently based on its technology, functionality, aesthetics, and energy efficiency. Of these, the cooking appliances are gaining renewed traction with specialty purpose products such as food processors, coffeemakers, blenders, and ovenware.
Electric household appliances market is witnessing a popular trend of multifunctional homewares, that offers added convenience and occupy a little space in houses. Today busy working schedule and smaller living spaces have created an understandable surge in the demand for automatic and space-conscious goods. For instance, Oxo, a Helen of Troy Ltd brand, launched innovative set of mixing bowls that come with silicon lids, which can also be easily converted into food storage containers.
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Another example is of Le Creuset, a renowned kitchen essentials brand which has introduced its new oval-shaped Dutch oven which has a reversible lid that can be used as a grill pan. Such product innovations have undoubtedly created huge scope for the growth of electric household appliances market over the coming seven years. Automatic washing machines, smart grid-connected dish washers, water heaters, and air conditioners, are among the others, that are gaining huge market potential with growing trend of home automation.
Prominent electric household appliances industry players are actively investing in the R&D activities to develop advanced appliances with more smart features, by connecting to sensors and home computer networks. Whirlpool Corporation, for instance, has showcased its most impressive food preparation appliance called the Whirlpool Front-Control Range with Scan-to-Cook Technology. With the help of a smartphone and the Whirlpool mobile app, users can now scan the UPC barcode of packaged food and transmit the recommended temperature, directions, and cooking time via Wi-Fi. This appliance will then set itself to the pre-programmed specifications and automatically prepare the food. Such advancements brought by electric household appliances industry giants have effectively showed what the power of the Internet of Things can really do in kitchen. With the introduction of such products, electric household appliances industry players are vigorously attempting to gain competitive edge in the growing ‘smart’ era.
As per estimates, Asia Pacific electric household appliances market is anticipated to witness huge demand for home appliances due to rising spending capacity and rapid urbanization in the emerging regions. Consumers are progressively seeking value added products that can reduce their efforts & time and are affordable at the same time. This has resulted into a robust demand for appliances including washing machines, air conditioners, and cooking appliances in the region which in turn have accelerated the growth of electric household appliances industry.
With the growing prevalence of smart technologies, the prominent electric household appliances market players including Electrolux, Siemens AG, Samsung, Walton Group, and LG are undertaking numerous growth strategies which boosts innovation and product development. A recent report on electric household appliances market put forth by Global Market Insights, Inc., has estimated the market valuation to surpass USD 600 billion, with global shipments exceeding 1 billion units by 2024.
Author Name : Ojaswita Kutepatil
India (Point of Sale) POS terminals market to witness a double-digit CAGR over 2017-2024, Governmental push toward cashless economy to drive the growth
The paucity of currency as an aftermath of demonetization has led to a surge in India Point of Sales (POS) terminals market demand. The need for infrastructure supporting the use of debit and credit card payments has risen exponentially, due to cash crunch. The effects of demonetization have instantly generated demand for POS machines as the country witnessed a seismic shift from offline transactions to digital transactions. The massive opportunities engendered by this status have significantly attracted several industry players to offer best solutions with competitive pricing. Verifone, PAX Technology, and Ingenico are the major players utilizing the huge untapped potential in the country. Mswipe, one of the key players of India POS terminals has also created great buzz by announcing its proposal to deploy more than 50 thousand mPOS by the end of 2017.
India POS Terminals Market in Tier-One Cities, By Application, 2016 & 2024 (USD Mn)
Verifone and Ingenico are amongst the two key companies accounting for major POS terminals market share in India. Together, both the companies account for more than 80% of market for POS terminals. The escalating demand for POS terminals from banks has further offered great opportunities to the India POS terminals market players to index their capabilities and take advantage of the situation to expand their business, as procuring POS systems from foreign players will consume more time with regards to shipment activities. Currently, 15 lakh POS devices are deployed across India, but astonishingly there are approximately more than 5 core registered businesses over the country. This huge difference in the number underscores the untapped opportunities in India POS terminals market and prospects for lucrative business. A report by Global Market Insights, Inc., has predicted “India POS terminals industry to surpass a valuation of USD 3 billion by 2024 having recorded a revenue worth USD 450 million in 2016”. The total shipments in India POS terminals market for the year of 2016 was over 300 thousand units and is projected to record an annual growth rate of 10% over 2017-2024.
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Post demonetization, the card transactions at POS terminals have hit 60%, directing a twofold growth from 30% in 2016. The country has also witnessed a rise in operating mobile wallets and net banking options for seamless and faster payment mode. On account of this, mPOS Terminals Market is expected to gain renewed traction and generate lucrative avenues for India POS terminals industry. Portability and speed are the most impressive features offered by these mobile POS platforms which has accelerated the payment mode options through credit/debit cards via smartphones or tablets. Moreover, backed by features like low-cost, mobility, and convenience, India mPOS terminals market is slated to record a CAGR of 10% over 2017-2024.
POS terminals market in India has witnessed huge deployment across all the sectors including restaurants, retail, hospitals, supermarkets, warehouses, etc. Of these, the healthcare segment is likely to spectate massive demand for POS terminals, thus accounting for utmost growth. The retail sector on other hand contributed to majority of revenue share in India POS terminals market.
India POS terminals industry is poised to witness an increasing pickup in demand from the rural areas over the coming years. The rural areas are the prime region where the government bodies are emphasizing on facilitating the infrastructure development that is indeed needed to support the move of cashless India. For instance, the National Bank for Agriculture and Rural Development (NABARD) have initiated plans and programs to deploy POS terminals across 1 lakh villages in the country. Other initiatives such as the Jan Dhan Yojana, Micro ATMs, and Aadhaar-enabled systems have positively impacted the growth of India POS terminals industry trends.
Backed by the demonetization move, India POS terminals market is set to exhibit a period of triumph over the coming years. Innovations and further technological advancements are expected to resonate the growth of POS terminals market in India. This business is further likely to flood with multilingual POS terminals, in a step to centralize cashless payments. Companies including Reverie Language Technologies and India Transact Services Ltd. are working to enable multilingual POS terminals by the next quarter of this year. The new languages to be introduced in India POS terminals industry will be Gujarati, Malayalam, Marathi, Kannada, Punjabi, Tamil, Bengali, and Telugu.
Author Name : Ojaswita Kutepatil
Smart speaker market to record a striking CAGR of 50% over 2017-2024, U.S. to dominate the regional landscape
Smart speaker industry has recently witnessed a plethora of megatrends that are underlining its massive expansion. Industry players are betting on the competitive landscape to capitalize the growth opportunity. Arguably pioneered by Amazon, subject to their launch of interactive speakers with Echo device late in 2014, the industry now is witnessing an inflection point with the influx of new players in the business exploiting the future growth prospects. In last two years, rushing in of Chinese competitors in smart speaker market has diversified the product landscape immensely. Recently, the announcement of Alibaba’s entrance in the business is expected to add a new dimension to the industry trends, grounding on the fact that participation by these renowned players is slated to disrupt the market consolidation.
Global Smart Speaker Market Share, By Region, 2016
The trends of IoT, particularly in the electronics and telecommunication industry has observed vibrant advancements over the past few years. Boasting the potential contribution of internet in the evolution of smart era, smart speaker market has established its immutable presence across various developing geographies. Increasing proliferation of consumer electronics and high demand for wireless connectivity are the two major grounds driving the market penetration. Of late, technological interventions have allowed manufacturers to introduce products that are not confined only to playing music, but have extended their applications to problem-solving, setting reminders, streaming of news and music with a single voice command. Integration of virtual assistant software has played a pivotal role in reshaping the business model. Google Home, for instance, powered by Google is profoundly considered one such technological breakthrough.
From a valuation of USD 400 million in 2016, smart speaker market in the next seven years is forecast to outpace all records by collecting a revenue of USD 13 billion by 2024. Considering the technological integration in the manufacturing of these devices, smart speaker market mainly encompasses Bluetooth, Wi-Fi, and NFC based products. Portability, compactness, built in battery makes Bluetooth enabled device an absolute choice for usage in outdoor activities and travel. Wi-Fi based smart speakers market is also experiencing an escalating commercialization, subject to its longer range and feasibility of directly connecting with the home network.
The remarkable expansion of smart speaker market is quite evident from its diversified product landscape. The industry being highly consumer driven, observes a widespread variety of products that increase the consumer convenience. Growing consumer inclination toward single room smart speakers is likely to enable this product’s domination in the global industry landscape. Ease of access from a single room is expected to be the main factor driving the huge adoption. However, one of the factors that might provide a lucrative opportunity to its counterpart- multiroom smart speakers is the service range limitation of single room speakers. Greater convenience in terms of connectivity range, signal resilience, and user amenability can be given the credit for the multiroom smart speaker market penetration. Sonos Play wireless system is one of the profound examples of multiroom smart speakers.
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The United States being one of the most progressive nations, as far as technological penetration is concerned, observes an upper hand in the global smart speaker industry. Increasing regional demand for wireless connection and rising Iot applications is driving the U.S. smart speaker market.
With China, India, and Japan at the helm, APAC smart speaker market will also witness substantial gains in the years ahead. Macroeconomic conditions, low labor costs, decreasing raw materials prices, and a paradigm shift in automation trends are some of the factors influencing the regional market outlook.
Despite having associated risks such as security breaches and data threats, the smart speaker industry is certain to witness a phenomenal demand over the coming years. The testimony of the projected growth curve being the huge set of opportunities this industry holds for application developers, component suppliers, network operators, and several other vendors. Global Market Insights, Inc. projects global smart speaker market to register a massive CAGR of 50% over 2017-2024.
Author Name : Satarupa De