LONDON--(BUSINESS WIRE)--The global speakers market is expected to grow by USD 43.55 billion during 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The growing popularity of wireless streaming of audio content through mobile devices has increased the demand for wireless speakers such as smart speakers, portable speakers, and Bluetooth speakers. In addition, the increasing demand for streaming HD content has led to the emergence of new technologies such as wireless HD and ITU-T H.hn that enhances the streaming of audio content. These factors are encouraging many speaker manufacturers to introduce smart and portable speakers, which will contribute to the growth of the market.
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As per Technavio, the focus on AI-ready speakers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Speakers Market: Focus on AI-Ready Speakers
Many market vendors, as well as chipset providers, are incorporating AI technology in their offerings to improve user experience. Some vendors are integrating their AI-ready speakers with deep learning software solutions that recognize different patterns of sound and other data and make the interface easy to use. The growing adoption of smart bands, connected appliances, and smart security devices is expected to have a positive impact on the demand for AI-ready speakers during the forecast period.
“Popularity of multi-room streaming speakers and the advent of cloud-hosted music streaming services will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Speakers Market: Segmentation Analysis
This market report segments the global speakers market by technology (wireless speakers and wired speakers), product (smart speakers, home audio speakers, and portable speakers), and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance over the market. This is due to the increasing adoption of music streaming services in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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