Global Speaker Market to Reach US$83.2 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Speaker estimated at US$29.7 Billion in the year 2020, is projected to reach a revised size of US$83.2 Billion by 2027, growing at a CAGR of 15.8% over the period 2020-2027.
Wired, one of the segments analyzed in the report, is projected to grow at a 14.2% CAGR to reach US$32.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Wireless segment is readjusted to a revised 17.1% CAGR for the next 7-year period. This segment currently accounts for a 56.3% share of the global Speaker market.
The U.S. Accounts for Over 27% of Global Market Size in 2020, While China is Forecast to Grow at a 20.2% CAGR for the Period of 2020-2027
The Speaker market in the U.S. is estimated at US$8 Billion in the year 2020. The country currently accounts for a 26.96% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$18.9 Billion in the year 2027 trailing a CAGR of 20.2% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.5% and 13.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 12.4% CAGR while Rest of European market (as defined in the study) will reach US$18.9 Billion by the year 2027.
The publisher brings years of research experience to this 7th edition of the report. The 184-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
- Alibaba Group Holding Ltd.
- Amazon.com, Inc.
- Apple, Inc.
- Baidu, Inc.
- Bose Corporation
- Google LLC
- Plantronics, Inc.
- Samsung Electronics Co. Ltd.
- Sonos, Inc.
- Xiaomi, Inc.
Total Companies Profiled: 46
For more information about this report visit https://www.researchandmarkets.com/r/gpbv9q