Siri to Have Highest Growth Rate in Smart Speakers Through 2023, Says Report

The smart speaker market will tally $11.79 billion by 2023, up from an expected $2.68 billion this year, said a ReportsnReports.com report Friday. Drivers include the growing number of smart homes, rising disposable income, “rapid proliferation” of multifunctional devices, and personalization trends in the office, consumer and automotive segments, it said. The market for the Siri digital assistant is expected to grow at the category's highest compound annual growth rate between 2018 and 2023, said the research firm, due to Apple’s entrenched market position, Siri’s virtual surround sound technology and its “deep integration” in the Apple product line. Apple’s strong brand and consumer base are expected to fuel the market for upcoming Siri-enabled smart speakers that are due to ship this year, it said.