Outlook of the global Bluetooth speaker market
In terms of revenue, the global market for Bluetooth speakers will grow profoundly at a CAGR of almost 33% by 2020. An important factor that will spur the prospects for growth in this market is the ability of Bluetooth speakers to stream audio content wirelessly. These speakers need no wiring and consume less space when compared to home theaters. Since these speakers run on batteries, they are highly suitable for outdoor purposes. Advantages like its high durability, hassle-free maintenance, and faster functionalities will spur its rate of adoption among consumers.
Technavio’s market research analysts have estimated eminent factors, such as the rising popularity of multi-room streaming, to impel market growth during the next four years. Due to the advent of networked audio devices, most modern speakers can stream audio content with the help of technologies like Bluetooth, Wi-Fi, or AirPlay. These technologies help separate a system’s physical and logical connections, which further means that a single network can carry multiple channels; thus, making it possible to make infrastructure changes relatively cheaply, quickly, and inexpensively. The growing trend of having speakers in all the rooms will expedite the growth of the Bluetooth speakers market during the next few years.
Geographical segmentation and analysis of the Bluetooth speaker market
In this market analysis, the analysts have estimated the Americas to account for almost 44% of the total market share by 2020. This region will lead the market for Bluetooth speakers as it is the largest adopter of the latest technologies and the leader in leveraging consumer electronics. Also, since most Bluetooth speakers are being used as a style statement, its demand among the consumers will rise rapidly over the next few
Overview of the camera accessories market
Technavio’s market research analysts have predicted the global camera accessories market to decline steadily at a CAGR of more than 3% during the forecast period. The growing demand for advanced digital cameras is one of the key factors driving the growth of this market globally. Despite the declining sales of digital cameras, the sales of MICs and DSLRs has contributed significantly to the growth of the camera accessories market. Moreover, technological advances have to the led development of advanced digital cameras with HD picture quality and video quality. As these cameras are compatible with a wide range of lenses with different focal length and resolution, the end-users are readily investing in various types of lenses to capture different subjects. Also, the growing popularity of wildlife and fashion photography has led to an augmented demand for specific lenses. Furthermore, an increasing number of end-users are buying camera bags and accessories such as cases and straps to safeguard cameras from physical damage, thereby fuelling this market’s growth over the next four years.
In this industry report, the analysts have estimated factors like the growth of online retail worldwide to impel the prospects for this market’s growth. As the online sales are expected to experience a significant increase in the coming years, many camera accessory manufacturers are moving their businesses online for better visibility and market presence. For instance, websites of camera accessory manufacturers like Canon, Samsung, and Panasonic, along with popular e-commerce websites like Amazon and eBay offer a vast range of camera accessories online. Additionally, the online retail industry is expected to experience significant growth over the forecast period, especially in emerging economies. This recent shift toward the use of e-commerce websites and online resources will further
Overview of the global mobile phone accessories market
According to the market analysts at Technavio, the global mobile phone accessories market will grow at a CAGR of more than 6% by 2020. The need to protect smartphones from physical damage is one of the key drivers that will impel the prospects for growth in this market. Generally, consumers prefer smartphones that are slim and lightweight. Since these phones are delicate to handle and are susceptible to physical damage, the need for protective accessories like protective cases, tampered glasses, and screen guards will increase. Additionally, factors such as the growing demand for aesthetically designed protective cases and related accessories are also likely to fuel the prospects for market growth.
The rising demand for wireless mobile accessories is one of the key trends that will lead to the growth of this market. Bluetooth handsets are popularly used by the consumers, which indicates the market's inclination towards wireless audio accessories. At present, it has been observed that most people listen to music on portable devices like smartphones and tablets as music streaming on platforms like YouTube and Soundcloud is an emerging trend in the market. This trend will increase the demand for wireless audio accessories like wireless chargers and portable mobile speakers during the forecast period.
Product segmentation and analysis of the mobile phone accessories market
- Headsets or earphones
- Memory cards
- Protective cases
- Power banks
- Portable speakers
According to this market research analysis, the protective cases segment accounted for around 21% of the global market share during 2015. The rising need to
Overview of the global disc jockey (DJ) consoles market
Disc jockey (DJ) consoles are devices that are comprised of controllers, mixers, turntables, and media/CD players, and help to create tracks and mix songs to entertain the audience. The rising demand for live events will result in this market’s moderate growth during the forecast period. The growing preference for electronic dance music (EDM) among the younger population will lead to an increase in the number of DJs around the world. Recently, it has been observed that many hotels, restaurants, social gatherings, and shopping malls have started arranging live events so that people can watch their favorite artists and DJs perform. This creates high enthusiasm and interest among individuals to attend such events and also creates a strong demand for various types of high-tech and high-priced DJ consoles from companies that are organizing these events. Due to these factors, the global market for DJ consoles will grow moderately at a CAGR of more than 2% by 2020.
Technavio’s market research analyst has estimated that the recent increase in the number of dance clubs and pubs will also drive the prospects for growth in this market until the end of the forecast period. The growing preference for entertainment is a major factor that is encouraging people to attend dance clubs and pubs. Due to the increase in the number of dance clubs and pubs, the requirement for DJs has increased substantially as the owners of such clubs are focusing on entertaining people with good music to retain their customer base. This increase in the requirement for DJs will lead to a significant increase in the demand for DJ consoles.
Product-based segmentation and analysis of the DJ consoles market
- DJ controllers
- DJ mixers
- Media players
Overview of the mobile device accessories market
Technavio’s market research analysts have estimated the global mobile device accessories market will grow steadily at a CAGR of more than 5% during the forecast period. The growing preference for smart devices over desktops is one of the key factors driving the growth of this market globally. The application of smart devices is wide-ranging, so the vendors can develop mobile accessories based on the needs of the customers. Also, a majority of people access the Internet using their smart devices which give vendors an opportunity to produce quality accessories to increase the lifespan of mobile devices. Moreover, an increasing number of brands focussing on making mobile accessories trendy and attractive, fuelling this market’s growth over the next four years.
In this industry report, the analysts have estimated factors like the growing demand for wireless accessories will propel the growth of this market over the predicted period. During 2015, the demand for Bluetooth headsets crossed over 45 million units, indicating the market’s shift toward wireless audio accessories. Furthermore, streaming music on YouTube or other platforms will result in an augmented demand for wireless audio accessories. With a growing adoption of wireless chargers and mobile speakers, propelling the growth prospects of the mobile device accessories market.
Segmentation by distribution channel and analysis of the mobile device accessories market
During 2015, the offline segment dominated the market and accounted for more than 75% of the market share. Since consumers prefer physical stores to online stores and they want to touch and feel the product before buying, the offline segment will continue to be the largest segment until the end of 2020.
Geographical segmentation and analysis of the mobile
Overview of the global music synthesizers market
The research analysts at Technavio expect the global music synthesizers market to post an impressive revenue of more than USD 225 million by 2020. The adoption of web-based learning materials will lead to the growth of this market over the years. Learning materials are readily available on platforms, such as YouTube, that use videos and reference articles to assist people who want to learn to play the music synthesizer. These materials simplify the learning process and are available at competitive prices. The ample availability of various web-based learning materials is expected to increase the adoption of synthesizers during the forecast period.
A recent trend emerging in the market is the increased acceptance of online retail. Many vendors dealing with musical instruments are offering a wide range of products like synthesizers, pianos, and guitars online, which, in turn, is increasing the popularity of online retail. The widespread use of the Internet on smartphones is the major reason for the increase in online purchases and transactions. The vendors are also offering seasonal discounts online, which entices the customer to buy musical instruments. As a result, most musical companies find that the shopping of musical instruments online is effective as they can target a large number of consumers. Some of the key musical instruments websites are Yamaha, eBay, and Amazon.
Geographical segmentation and analysis of the music synthesizers market
In 2015, the Americas dominated the global music synthesizers market, accounting for more than 47% of the total market share. The growing demand for live shows and the presence of numerous DJ
Consumer electronics remains one of the dominant segments of the manufacturing industry. New technologies and innovations, rising income levels, and steady population growth have spurred demand for consumer electronics, and emerging markets have particularly exciting and promising prospects.