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Smart Speaker Market projected to grow by USD 50.8 billion from 2024-2028, driven by rising unit sales and AI powered market evolution–Technavio

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NEW YORK, Sept. 24, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The global smart speaker market  size is estimated to grow by USD 50.8 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  34.28%  during the forecast period.  Rapidly increasing unit sales of smart speakers is driving market growth, with a trend towards increasing popularity of voice commerce. However, privacy and security threats associated with smart speakers  poses a challenge. Key market players include Alphabet Inc., Amazon.com Inc., Apple Inc., Bang and Olufsen Group, Belkin International Inc., Bose Corp., Edifier International Ltd., Imagine Marketing Pvt. Ltd., Lenovo Group Ltd., LG Electronics Inc., NXP Semiconductors NV, Onkyo Corp., Portronics Digital Pvt. Ltd., Qualcomm Inc., Samsung Electronics Co. Ltd., Sonos Inc., Sony Group Corp., Xiaomi Communications Co. Ltd., Zebronics India Pvt. Ltd., and Zound Industries International AB.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

End-user (Residential and Commercial), Distribution Channel (Offline and Online), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Alphabet Inc., Amazon.com Inc., Apple Inc., Bang and Olufsen Group, Belkin International Inc., Bose Corp., Edifier International Ltd., Imagine Marketing Pvt. Ltd., Lenovo Group Ltd., LG Electronics Inc., NXP Semiconductors NV, Onkyo Corp., Portronics Digital Pvt. Ltd., Qualcomm Inc., Samsung Electronics Co. Ltd., Sonos Inc., Sony Group Corp., Xiaomi Communications Co. Ltd., Zebronics India Pvt. Ltd., and Zound Industries International AB

Key Market Trends Fueling Growth

The voice commerce market is experiencing significant growth due to the convenience and ease of use it offers. With voice commerce, consumers can place orders and make purchases online using only their voice, eliminating the need for keyboards, mice, or smartphones. Smart speakers, such as those with Google Assistant or Amazon Alexa, enable this technology. For instance, Amazon’s Alexa can suggest products based on a user’s past purchases and complete transactions with simple voice commands. This hands-free functionality and ability to multitask are major advantages of voice commerce, making it increasingly popular. As a result, the demand for smart speakers is expected to rise in the global market during the forecast period. 

The smart speaker market is booming with the rise of digital technology and wireless voice-enabled devices. Intelligent virtual assistants like Siri, Alexa, and Google Assistant are leading this trend, enabling users to control their homes and appliances using voice commands. Smart homes are becoming more commonplace, with smart home products and appliances integrating with Wi-Fi and Bluetooth-enabled speakers. Data-steered innovations are driving advancements in voice patterns and artificial technology, but concerns over data misuse and security risks persist. Baidu and other speaker manufacturers are investing in AI to enhance virtual assistant capabilities, with display-based devices and virtual assistants for TVs, radios, and even smart locks on the horizon. Online platforms are also integrating with smart speakers for seamless control of smart home devices and hubs. However, it’s essential to prioritize data security and privacy in this rapidly evolving market. IOT and smart devices are transforming our lives, and smart speakers are at the forefront of this revolution. Sensors and voice assistance are making our homes smarter and more convenient, but it’s crucial to stay informed about the latest trends and potential risks. 

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Market Challenges

The global smart speaker market faces challenges due to privacy and security concerns. Many consumers are apprehensive about potential threats to their conversations and personal data. Manufacturers employ staff to review voice recordings for speech improvement, increasing privacy worries. Smart speakers are susceptible to various cyberattacks, including DDoS, MiTM, data breaches, APTs, and ransomware. These vulnerabilities can deter users and provide attackers access to IT infrastructure. Mass-produced, identical smart speakers make them easy targets for hackers using weak passwords. Compromised devices could disrupt networks or spread malware. Despite manufacturers’ efforts to protect customer data, the absence of stringent privacy policies and regulations heightens the risk, potentially hindering market growth.The smart speaker market is booming with the rise of digital technology and wireless voice-enabled devices like smart speakers. These devices, powered by intelligent virtual assistants, offer convenience through voice commands and control over various smart home products and appliances. Wi-Fi and Bluetooth connectivity enable seamless integration with other data-steered innovations. However, challenges include data misuse, voice patterns recognition, and security risks. Speaker manufacturers must prioritize data security, ensuring user privacy. Smart homes, IOT, and smart devices are driving the market, with smart speaker usage expanding to include virtual assistants, wireless speakers, and even display-based devices. Baidu’s entry into the market intensifies competition. Smart home hubs, sensors, and integration with smart locks, TVs, radios, and online platforms are key considerations. AI and virtual assistants are essential, but so is addressing concerns around data security and privacy.

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Segment Overview 

This smart speaker market report extensively covers market segmentation by

End-user 1.1 Residential1.2 CommercialDistribution Channel2.1 Offline2.2 OnlineGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Residential-  The residential segment of the global smart speaker market is experiencing notable growth due to the increasing popularity of smart speakers in households. The convenience of voice control and the ability to connect with various digital streaming platforms and devices make smart speakers a necessity in modern homes. The recent trend of digital content consumption through services like Amazon Prime, Netflix, and YouTube has further the importance of smart speakers. In the US, the number of households owning more than one smart speaker is on the rise. Additionally, the increasing investment in home renovation projects, particularly in living spaces, has led to a strong correlation between home improvements and the adoption of smart speakers. As a result, the residential users segment of the global smart speaker market is projected to expand at a rate during the forecast period.

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Research Analysis

The Smart Speaker Market is experiencing rapid growth as more households integrate digital technology into their homes. Smart speakers, also known as wireless voice-enabled devices, are becoming essential components of IoT-enabled smart homes. These devices use Wi-Fi or Bluetooth connectivity to link with other smart home devices and hubs, enabling voice-activated control of various smart home appliances and products. Smart speaker usage extends beyond playing music and includes setting alarms, controlling lights, adjusting thermostats, and accessing information through intelligent virtual assistants. Sensors integrated into smart speakers and other smart home devices collect data, leading to data-steered innovations that enhance user experience and convenience. The market for smart speakers is expected to continue expanding as more consumers embrace the benefits of a connected and voice-controlled home.

Market Research Overview

The smart speaker market is experiencing rapid growth as more consumers embrace the concept of a connected home. Smart speakers, wireless voice-enabled devices that use Intelligent Virtual Assistants (IVAs) like Amazon Alexa, Google Assistant, and Apple Siri, are at the forefront of this trend. These devices integrate seamlessly with other smart home devices, such as thermostats, lights, and security systems, creating a network of interconnected IoT devices. Smart speakers can control smart home hubs, activate sensors, and even unlock smart locks through voice commands. However, the increasing use of smart speakers raises concerns about data security and potential misuse of voice patterns and personal information. Digital technology companies and speaker manufacturers continue to innovate, introducing data-steered innovations like AI-powered TVs, radios, and even refrigerators. Online platforms offer a range of smart home products and appliances, from wireless speakers to virtual assistants, creating a vast ecosystem of connected devices. While the benefits of a smart home are numerous, it is essential to consider the potential security risks and ensure that data is protected. Baidu’s DuerOS and other voice assistance platforms are also gaining popularity in the market, adding to the competition.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userResidentialCommercialDistribution ChannelOfflineOnlineGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Technology

Chef Robotics Physical AI Models Can Now Automate Baked Goods Packing

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SAN FRANCISCO, April 29, 2026 /PRNewswire/ — Chef Robotics, a leader in physical AI for the food industry, today announced that Chef robots can now automate tray assembly for baked goods packing. The application places baked products, such as burger buns, chocolate chip cookies, biscotti, butter cookies, biscuits, fortune cookies, granola bars, rusks, and shortbreads into trays and packaging containers before sealing.

Watch Chef robots in action.

Baked goods packing has historically been difficult to automate for high-mix production. Each item behaves differently on the production line—a granola bar compresses under the wrong grip, while a biscotti or rusk can crack if placed at the wrong angle. Surface textures range from glazed and smooth to crumbly and irregular, and strict presentation requirements leave little room for error. This variability has made it challenging for automation systems to reliably handle baked goods at production speeds, leaving food manufacturers dependent on manual labor and traditional bakery equipment.

To address this, Chef built its baked goods packing application on its existing piece-picking capability, which uses Chef’s AI-powered computer vision and physical AI models trained across diverse real-world production environments. This allows Chef robots to assess each item’s position, shape, and orientation in real time and determine how to pick the items from the pan and place them quickly and precisely without damaging them.

The baked goods packing application supports four distinct placement capabilities.

First, Chef’s vision system detects the angle at which each item sits in the pan and reorients it after picking, placing it on the tray at the exact angle required, regardless of its original position, enabling retail-ready presentation for SKUs that require precise angular placement.

Second, Chef robots can place multiple baked goods into the same packaging container in a single automated pass, completing full tray assembly without manual intervention.

Third, for packaging containers with multiple small compartments, Chef robots can precisely place items into each designated section, including multiple items in the same compartment, using Chef’s AI vision model to detect compartment positions and orientations in real time.

Fourth, Chef’s vision system identifies the exact center of each tray and places every item at a predefined offset from that center, ensuring a uniform, consistent arrangement across every pack regardless of how trays arrive on the conveyor.

For food manufacturers evaluating bakery systems and baked goods packaging automation, the application offers higher throughput, reduced labor dependency, and consistent presentation across shifts. The capability runs on Chef’s existing robotic hardware and software, allowing manufacturers to deploy it without requiring any changes to their production lines.

Chef’s baked goods packing application is available in the U.S., Canada, Germany, and the UK and is included as part of Chef’s robotics-as-a-service (RaaS) pricing model.

About Chef Robotics
Chef is the first company to have commercialized a scalable AI-driven food robotics solution. With over 104 million servings made in production, Chef leverages ChefOS, an AI platform for food manipulation, to offer a Robotics-as-a-Service solution that helps industry-leading food companies increase production volume and meet demand. Headquartered in San Francisco, CA, Chef aims to empower humans to do what humans do best by accelerating the advent of intelligent machines. Visit https://chefrobotics.ai to learn more.

View original content:https://www.prnewswire.com/news-releases/chef-robotics-physical-ai-models-can-now-automate-baked-goods-packing-302756923.html

SOURCE Chef Robotics

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Technology

Chef Robotics Physical AI Models Can Now Automate Baked Goods Packing

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SAN FRANCISCO, April 29, 2026 /PRNewswire/ — Chef Robotics, a leader in physical AI for the food industry, today announced that Chef robots can now automate tray assembly for baked goods packing. The application places baked products, such as burger buns, chocolate chip cookies, biscotti, butter cookies, biscuits, fortune cookies, granola bars, rusks, and shortbreads into trays and packaging containers before sealing.

Watch Chef robots in action.

Baked goods packing has historically been difficult to automate for high-mix production. Each item behaves differently on the production line—a granola bar compresses under the wrong grip, while a biscotti or rusk can crack if placed at the wrong angle. Surface textures range from glazed and smooth to crumbly and irregular, and strict presentation requirements leave little room for error. This variability has made it challenging for automation systems to reliably handle baked goods at production speeds, leaving food manufacturers dependent on manual labor and traditional bakery equipment.

To address this, Chef built its baked goods packing application on its existing piece-picking capability, which uses Chef’s AI-powered computer vision and physical AI models trained across diverse real-world production environments. This allows Chef robots to assess each item’s position, shape, and orientation in real time and determine how to pick the items from the pan and place them quickly and precisely without damaging them.

The baked goods packing application supports four distinct placement capabilities.

First, Chef’s vision system detects the angle at which each item sits in the pan and reorients it after picking, placing it on the tray at the exact angle required, regardless of its original position, enabling retail-ready presentation for SKUs that require precise angular placement.

Second, Chef robots can place multiple baked goods into the same packaging container in a single automated pass, completing full tray assembly without manual intervention.

Third, for packaging containers with multiple small compartments, Chef robots can precisely place items into each designated section, including multiple items in the same compartment, using Chef’s AI vision model to detect compartment positions and orientations in real time.

Fourth, Chef’s vision system identifies the exact center of each tray and places every item at a predefined offset from that center, ensuring a uniform, consistent arrangement across every pack regardless of how trays arrive on the conveyor.

For food manufacturers evaluating bakery systems and baked goods packaging automation, the application offers higher throughput, reduced labor dependency, and consistent presentation across shifts. The capability runs on Chef’s existing robotic hardware and software, allowing manufacturers to deploy it without requiring any changes to their production lines.

Chef’s baked goods packing application is available in the U.S., Canada, Germany, and the UK and is included as part of Chef’s robotics-as-a-service (RaaS) pricing model.

About Chef Robotics
Chef is the first company to have commercialized a scalable AI-driven food robotics solution. With over 104 million servings made in production, Chef leverages ChefOS, an AI platform for food manipulation, to offer a Robotics-as-a-Service solution that helps industry-leading food companies increase production volume and meet demand. Headquartered in San Francisco, CA, Chef aims to empower humans to do what humans do best by accelerating the advent of intelligent machines. Visit https://chefrobotics.ai to learn more.

View original content:https://www.prnewswire.com/news-releases/chef-robotics-physical-ai-models-can-now-automate-baked-goods-packing-302756923.html

SOURCE Chef Robotics

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Air Products to Expand Industrial Gas Supply for Samsung Electronics’ Next-Generation Semiconductor Fab in South Korea

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New investment underscores the company’s long-term commitment to Korea and its leading role in the global semiconductor industry 

LEHIGH VALLEY, Pa., April 29, 2026 /PRNewswire/ — Air Products (NYSE:APD), a world-leading industrial gases company and serving Samsung globally, today announced it has been selected by Samsung to supply industrial gases for its new advanced semiconductor fab in Pyeongtaek, Gyeonggi Province, South Korea.

Under the agreement, Air Products will build, own and operate multiple state-of-the-art production facilities and a bulk specialty gas supply system to supply nitrogen, oxygen, argon, and hydrogen for Samsung’s new semiconductor fab. The new facilities are expected to come onstream in multiple phases from 2028 through 2030.

Air Products has a long track record of executing multiple phase expansions in Pyeongtaek to support Samsung’s growing manufacturing needs. This latest project represents Air Products’ largest investment to date in the semiconductor industry and will establish Pyeongtaek as the company’s single largest operations site globally supporting the electronics industry. 

“Air Products is honored to be selected once again by Samsung and to have their continued confidence as a trusted partner supporting their strategic growth plans,” said SR Kim, President, Air Products Korea. “This significant investment reinforces Air Products’ role as a leading global supplier to the semiconductor industry and underscores our long-standing commitment to supporting our strategic customers with safety, reliability, efficiency and excellent service.”

Air Products has served the global electronics industry for more than 40 years, supplying industrial gases safely and reliably to many of the world’s leading technology companies. The company has operated in Korea for more than 50 years and has established a strong position in electronics and manufacturing sectors.

About Air Products

Air Products (NYSE: APD) is a world-leading industrial gases company in operation for over 85 years focused on serving energy, environmental, and emerging markets and generating a cleaner future. The Company supplies essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, medical and food. As the leading global supplier of hydrogen, Air Products also develops, engineers, builds, owns and operates some of the world’s largest clean hydrogen projects, supporting the transition to low- and zero-carbon energy in the industrial and heavy-duty transportation sectors. Through its sale of equipment businesses, the Company also provides turbomachinery, membrane systems and cryogenic containers globally.

Air Products had fiscal 2025 sales of $12 billion from operations in approximately 50 countries. For more information, visit airproducts.com or follow us on LinkedInXFacebook or Instagram.

This release contains “forward-looking statements” within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including the risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2025 and other factors disclosed in our filings with the Securities and Exchange Commission. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs or expectations or any change in events, conditions or circumstances upon which any such forward-looking statements are based.

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SOURCE Air Products

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