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Research analysis on the global networked audio products market identifies that the rise in the number of smart homes will be one of the major factors that will have a positive impact on the growth of the market. Technavio's market research analysts predict that this market will grow at a CAGR of nearly 17% by 2021. Many homes in developed countries, such as the US and the UK, are renovated to smart homes. A smart home consists of smart electronics, consumer electronic devices, and media and entertainment gadgets that are connected to the home network with the ability to interact among each other. Moreover, the need for smart homes is driven by the demand for energy conservation, convenience, and connectivity among home devices. In addition, government initiatives are also supporting smart homes for a better living driving the growth of smart homes. Networked audio devices facilitate the communication between networked devices using the home network and provide easy streaming of content, such as videos and music. The smart homes market is widely developed across numerous developed countries and is likely to grow in popularity in developing countries in the forthcoming years. This will lead to the growth of the networked audio products market globally.
In terms of geographic regions, APAC will be the major revenue contributor to the networked audio products market by the end of the predicted period. The growth of the market in this region mainly attributes to factors such as the increase in disposable income and the presence of major region-based vendors such as Pioneer, Samsung Electronics, and Yamaha.
The networked audio products market is highly competitive and consists of large vendors. During the forecast period, the competition will increase due to the rise in product extensions. Service providers in the market mainly compete based on factors such as pricing, technology, features, sound quality, design, and size.
The leading vendors in the market are ?
The 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.
During 2016, the Bluetooth technology segment accounted for the major shares of the networked audio products market. Factors such as the easy integration of this technology with devices, such as speakers, mobile devices, and computing devices will contribute to the growth of this industry segment in the coming years.
As per this market research report, the residential user segment will hold the maximum share of the networked audio products market until 2021. The increased adoption of wireless speakers globally and availability of smart speakers with multi-room streaming will drive the growth of the segment in the global market.
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Networked audio products are used to stream multiple audio devices smoothly using streaming technology such as Bluetooth, Airplay, or Play-fi. The upcoming report on the global networked audio product market is an essential component in the media and entertainment industry. Our market research report for the consumer electronics sector comprises of an in-depth analysis of broad range of business assessment parameters such as market size, growth drivers, prominent vendors, emerging trends, and key insights. The report also identifies some of the vendor operating in the market such as Yamaha, Pioneer, Sonos, Sony, and JBL.
Technavio gathers business intelligence data on key parameters such as revenue, pricing, distribution, products, competition, and innovation by conducting exhaustive primary and secondary research. Qualitative and quantitative research methodologies like vendor analysis, trends and driver analysis, and market size and market growth assessment are also used to accurately forecast the growth prospects of the market.
This upcoming report on the global networked audio product market uses various segmentation criteria to provide a segregated view of the market to help the clients with choosing the lucrative target markets. To do so, they gather intelligence data from geographies such as the Americas, EMEA, and APAC and point out the most lucrative market and also identify markets with future growth potential.
The upcoming market research report for the global networked audio product market also highlights the key drivers, emerging trends, competitive intelligence, business customers, as well as the restraints that the consumer electronics sector currently experiences. It also presents insights and overview into the rapidly altering competitive scenario of the media and entertainment industry. The report also covers related sectors from media and entertainment industry such as gaming, media and entertainment services, and internet and e-commerce sectors.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by technology
PART 07: Market segmentation by protocol
PART 08: Buying criteria
PART 09: Market segmentation by end-user
PART 10: Geographical segmentation
PART 11: Key leading countries
PART 12: Decision framework
PART 13: Drivers and challenges
PART 14: Market trends
PART 15: Vendor landscape
PART 16: Appendix
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