Global Speaker Market 2016-2020
A speaker is an audio system that converts electromagnetic waves into sound waves. Speakers can be categorized based on the technology they use. Based on technology, we have categorized speakers as wired and wireless speakers. Wireless is the latest technology used in speakers. Bluetooth and soundbar audio systems are equipped with wireless technology. Home theater systems are one of the most popular audio devices that use wired technology.
Technavio’s analysts forecast the global speakers market to grow at a CAGR of 19.73% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global speakers market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of speakers.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Speakers Market 2016-2020
Technavio recognizes the following companies as the key players in the global speakers market: Beats Electronics, Bose, LG Electronics, Samsung Electronics, and Sony.
Other Prominent Vendors in the market are: Atlantic Technology, Bowers & Wilkins, Braven, Creative Technology, Denon, Harman International Industries, Jawbone, JVCKENWOOD, Koninklijke Philips, Logitech, Panasonic, Pioneer, Plantronics, Qualcomm Technologies, Sennheiser Electronic, Shure, Sonos, and Yamaha.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing popularity of multi-room streaming. The introduction of networked audio systems means the reduction in expense, efforts, and time, as all audio devices are wirelessly connected with technologies such as AirPlay, Bluetooth, or Wi-Fi. These technologies separate a system’s physical and logical connections, which means that a single network carries multiple channels, making it possible to make infrastructure changes relatively cheaply, quickly, and inexpensively. The growing trend of maintaining speakers in all rooms is expediting the growth of the speaker market. Multi-room systems need to be connected to one master speaker that can be connected wirelessly with Wi-Fi, Bluetooth, or AirPlay. SRS-X77, SRS-X88, and SRS-X99 Bluetooth speakers by Sony and WAM250/ZA and WAM7500/ZA Bluetooth speakers by Samsung Electronics have multi-room streaming features. The speakers by Sony allow users to enjoy music around the house with multi-room listening using SongPal Link and can be controlled by a mobile device using SongPal app.
According to the report, one driver in the market is rise in number of smart homes. Many homes in developed nations such as the US and the UK are being remodeled to smart homes. A smart home consists of media and entertainment gadgets, consumer electronic devices, and other smart electronics that interact with each other through a home network. The demand for smart homes is driven by factors such as the go green policy, energy saving requirements, need for convenience, and connectivity between various devices. The demand for smart homes is also driven by government initiatives that promote smart homes for better living. Some of the solutions include the assistance of power line communication and the adoption of smart meters to conserve energy.
Further, the report states that one challenge in the market is availability of counterfeit products. Leading manufacturers are facing a major threat because of the availability of counterfeit products with unauthorized dealers and at local stores. APAC is considered as the hub for counterfeit products because a large number of counterfeit product manufacturers are based in the region. Many people are buying such products because they are cheap, attractive, and copies of big brands. The popularity and easy availability of counterfeit Bluetooth speakers are likely to intensify the competition in the market.
Beats Electronics, Bose, LG Electronics, Samsung Electronics, Sony, Atlantic Technology, Bowers & Wilkins, Braven, Creative Technology, Denon, Harman International Industries, Jawbone, JVCKENWOOD, Koninklijke Philips, Logitech, Panasonic, Pioneer, Plantronics, Qualcomm Technologies, Sennheiser Electronic, Shure, Sonos, Yamaha.