About Networked Audio Products
Networked audio products are audio devices that are connected to each other with the help of a master speaker that is linked using media streaming technology. Some of the top media streaming technologies in networked audio devices include AirPlay, Bluetooth, Digital Living Network Alliance (DLNA), Play-Fi, and Sonos. Networked audio products help in transferring digital media content from a media streaming mobile app to different networked audio devices using a Wi-Fi network. They enable the smooth streaming of audio content. These products support multi-room systems when connected to compatible software and speakers.
Technavio’s analysts forecast the global networked audio products market to decline at a CAGR of (16.73%) during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global networked audio products market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of networked audio products such as Bluetooth, Digital Living Network Alliance (DLNA), AirPlay, Play-Fi, Sonos, and Others.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Networked Audio Products Market 2017-2021
Technavio recognizes the following companies as the key players in the global networked audio products market: Pioneer, Samsung Electronics, Sonos, and Yamaha.
Other Prominent Vendors in the market are: Cambridge Audio, Cirrus Logic, Denon, Grace Digital, Logitech, Naim Audio, On-Hold Plus, QSC, Marantz America, Roku, Sherwood, Sony, TEAC, and TOA Electronics.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Improved wireless connectivity. The Bluetooth technology was introduced in 1999. Since then, the technology has undergone a significant evolution to become more powerful. Currently, networked audio products that are available are equipped with the latest version of Bluetooth smart chips. They reduce power consumption and improve the range and sound quality. Apart from AirPlay and Bluetooth, Play-Fi and Sonos are some of the other technologies that are having rapid growth, and they are likely to experience high growth during the forecast period.”
According to the report, one of the major drivers for this market is Increase in number of smart homes. A large number of homes in developed countries, such as the US and the UK, are being renovated into smart homes. In a smart home, smart electronics, consumer electronic devices, and media and entertainment gadgets are connected to the home network and can interact with each other. The demand for smart homes is highly driven by the need for energy conservation, convenience, and connectivity among home devices. In addition, government initiatives are promoting smart homes for a better living, which is supporting the growth of smart homes. For instance, the introduction of smart meters to conserve energy and assistance of power line communication.
Further, the report states that one of the major factors hindering the growth of this market is Availability of counterfeit products. Several top consumer electronics manufacturers are facing a threat because of the availability of counterfeit products with unauthorized dealers and at local stores. APAC is considered to be the hub for counterfeit products because of the presence of a large number of local counterfeit product manufacturers in the region. Consumers with limited budgets and unawareness invest in such products because they are inexpensive, attractive, and copies of big brands. The growing popularity and easy availability of counterfeit networked audio devices will likely increase the competition in the market.
Pioneer, Samsung Electronics, Sonos, Yamaha, Cambridge Audio, Cirrus Logic, Denon, Grace Digital, Logitech, Naim Audio, On-Hold Plus, QSC, Marantz America, Roku, Sherwood, Sony, TEAC, and TOA Electronics.