The global smart sound and gateway market size was US$ 431.4 million in 2021. The global smart sound and gateway market is forecast to grow to US$ 4,391.7 million by 2030 by registering a compound annual growth rate (CAGR) of 31.2% during the forecast period from 2022 to 2030.

Factors Influencing the Market
The growing consumer inclination towards connected devices is expected to boost the growth prospects of the market. According to Jaze Networks data, there were nearly 6.58 internet-connected devices per person in 2020. Moreover, the numbers are expected to increase to 15 internet-connected devices per person by 2030, which will be opportunistic for the market.
The rising demand for smartphones is forecast to have a potential impact on the smart sound and gateway market. Moreover, the growing research and development in the sector will also drive the smart sound and gateway market forward. Apart from that, the rising trend of work-from-home and hybrid work models is expected to bring ample growth opportunities for the smart sound and gateway market during the study period. 
On the flip side, security concerns related to connected devices may restrict the growth of the market during the forecast period.

COVID-19 Impact Analysis
Due to the COVID-19 pandemic, people are spending time more in their homes. During the initial phase of the pandemic, the governments in various countries imposed strict quarantine rules. As a result, consumers spent nearly a year confined to their homes. As a result, media consumption and internet usage grew significantly across the globe. Thus, it was opportunistic for the voice assistants and smart speakers’ sector, which ultimately fuelled the growth of the smart sound and gateway market.  

Regional Analysis
On the basis of region, the Asia-Pacific smart sound and gateway market is projected to record potential growth due to several factors such as the low manufacturing costs achieved by local vendors, a growing range of product innovation, and rising domestic consumption. For instance, Redmi, which is supported by Xiaomi, unveiled the Redmi XiaoAI Touchscreen Speaker 8 in 2020 as its first touchscreen smart speaker. A new updated model, the Redmi XiaoAI Touchscreen Speaker Pro, was introduced by the firm in China in September 2020. 
Additionally, one of the main reasons boosting the market expansion in Japan is the high investment in IoT devices and technology as well as the rising investment in voice assistant devices. In addition, the work-from-home culture forced people to adopt new devices in order to have better communication with clients. Thus, it will be opportunistic for the smart sound and gateway market during the forecast period.

Competitors in the Market
• Amazon.com Inc.
• Google LLC (Alphabet Inc.)
• Apple Inc.
• Alibaba Group Holding Limited
• Baidu Inc.
• Xiaomi Inc.
• Samsung Electronics Co. Ltd
• Sonos Inc.
• Bose Corporation
• Plantronics Inc.
• Other Prominent Players

Market Segmentation
The global smart sound and gateway market segmentation focuses on Virtual assistants, Solutions, and regions. 
By Virtual Assistant Outlook
• Alexa
• Google Assistant
• Siri
• Ali Genie
• Xiao AI
• Multiple Virtual Assistant Support Speakers
• Other Virtual Assistants
By Solution Outlook
• Smart Speaker
• Hearables
By Regional Outlook
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America