A key factor driving the growth of the market is the rise in popularity of wireless streaming of audio content. With the rise in popularity of music streaming services, the demand for speakers has increased. In addition, the increase in demand for streaming of high-definition (HD) content has led to the launch of several new innovative technologies such as wireless HD or ITU-T G.hn. Such techniques are optimized for streaming HD content. Moreover, the wireless streaming of audio content such as online videos, TV programs, movies, and music, which can be accessed anytime with a single touch of a button, is leading to the growth of the speakers market largely.
This market research report on the global speakers market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing popularity of multi-room streaming speakers as one of the key emerging trends in the global speakers market:
Global speakers market: Increasing popularity of multi-room streaming speakers
Multi-room streaming speakers are connected to one master speaker and help control the music played in each room using a smartphone. They offer style and convenience and are connected to Bluetooth, Wi-Fi, and airplay. Furthermore, certain platforms or solutions enable the users to select compatible speakers, making them user-friendly and thus leading to the overall growth of the global speaker industry.
“Investments in R&D for multi-room speakers and market development for ultra-thin smart TVs is driving the need for sound bars. Market suppliers focus on introducing innovative changes in speakers and diversifying the products to retain their position in the market. The changing behavior pattern of users will drive the demand for wireless technology-enabled speakers,” says a senior analyst at Technavio for research on consumer electronics.
Global speakers market: Segmentation analysis
This market research report segments the global speakers market by product (portable speakers, home audio speakers, smart speakers), by technology (wired speakers and wireless speakers) and by geographical regions (APAC, EMEA, and the Americas).
The home audio segment led the market in 2017 with a market share close to 48%, followed by smart and portable speakers segments respectively. However, it is predicted that the smart speakers segment will dominate the market by 2022, which is expected to exhibit an incremental growth of close to 12% over the forecast period followed by portable speaker segment.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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