Global speaker market overview
Wireless speakers are available in a wide range of designs and sizes these days. These speakers do not use any wiring and consume less space in comparison to home theater systems. A multitude of consumers are drawn to portable devices such as laptops, smartphones, tablets equipped with Wi-Fi and Bluetooth connectivity as these devices enable users to stream content wirelessly. According to the industry research report, the increasing preference for wireless streaming of audio content will propel the global speaker market growth during the forecast period. Our market research analysts predict that the global speaker market size and share will grow rapidly and post a CAGR of close to 20% during the forecast period.
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Geographical segmentation of the global speaker market
In terms of geography, the Americas accounted for the maximum market share during 2015 due to the increased per capita income of the population in the US and South American countries. In addition, the speaker market’s growth in the region is highly influenced by the rising adoption of wireless speakers. Moreover, countries such as Brazil and Mexico are witnessing an increasing demand for speakers due to the growing number of music streaming services. The share of this segment is likely to decline during the forecast period as the market in the Americas, especially North America, is likely to reach the maturity stage between 2017-2018. However, since the region is the highest adopter of consumer electronics across the globe, it will continue to dominate the market.
Competitive landscape and key vendors
The global speaker market is highly diversified and competitive due to the presence of numerous regional and global vendors. These vendors encounter challenges in the form of intense competition, consumer spending patterns, demographic trends, and frequent changes in consumer preferences. In addition, these vendors compete against each other based on factors such as features, sound quality, technology, size, and the speaker market price. Furthermore, it has been estimated that the global speaker market will become more competitive in nature due to the increasing focus of vendors on advanced technologies.
Key vendors in this market are -
- Beats Electronics
- Bose
- LG Electronics
- Samsung Electronics
- Sony
Other prominent vendors in the market include 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.
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Segmentation by technology and the speaker market analysis
- Wired speakers
- Wireless speaker
The wireless speaker segment accounted for the maximum percentage of the speaker market share during 2015 and will continue to dominate the market for the next few years. One of the major factors responsible for the market segment’s growth is the increasing consumer preferences toward handy, lightweight, and easily portable speakers.
Segmentation by type and the speaker market analysis
- Portable speakers
- Home audio speaker
In 2015, the home audio speaker segment dominated the global speaker market. However, the market share of this segment is expected to decline during the forecast period due to the launch of low-cost portable speakers, which will boost the influx of more customers in the future.
Key questions answered in the report include
- What will the speaker market size, speaker market worth, forecast, and the growth rate be in 2020?
- What are the key factors driving the global speaker market?
- What are the key speaker industry trends impacting the market growth?
- What are the challenges to the speaker market growth?
- Who are the key vendors in the global speaker market?
- What are the market opportunities and threats faced by the vendors in the global speaker market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global speaker market?
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