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According to the micro speakers market share analysis, extensive industry analysis carried out by the market research analyst at Technavio has shown that the global market for micro speakers will grow at a CAGR of almost 10% by 2021. Much of this impressive growth can be attributed to the recent increase in the number of smart homes in regions like the US, the UK, and Germany.
Smart homes leverage the IoT technologies, such as small wireless speakers, to connect consumer electronic devices, entertainment equipment, and other smart electronics to the home network. The demand for smart homes is driven by the preference for convenience, luxury, and connectivity among the devices. It is also fuelled by government initiatives that promote smart homes for a better living.
According to this market study, eminent trends, such as the replacement of mercury systems with UV LED systems, will also contribute towards the micro speakers market growth during the estimated period. At present, UV LED systems are being used in the micro speaker’s market space due to the benefits they provide. This system is expected to replace the market for mercury systems during the forecast period due to the improvements in the outputs and yields.
The global micro speakers market is highly competitive and is due to the presence of a large number of established players and other regional players. During the forecast period, small portable speakers vendors will compete intensely with their peers to deliver advanced technology to the end-users to gain a competitive advantage in the mini Bluetooth speaker market.
At present, the embedded systems segment accounts for the largest market share and is anticipated to retain its dominant market position by the end of 2021. The growing global demand for smartphones, laptops, tablets, TVs, and PCs will lead to the strong growth of this market segment in the mini Bluetooth speaker market during the forecast period.
The mini Bluetooth speaker market is well diversified in APAC, Europe, North America, and ROW. During 2016, the market was dominated by APAC and is estimated to further enhance its hold over the market by the end of the forecast period. The recent increase in the development of smart homes in the region is a positive trend for the micro speakers market in APAC.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by end-user
PART 07: Product life cycle
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Appendix
PART 16: Explore Technavio
Tags: smart homes, iot technology, home accessories, electronic appliances, micro speakers market forecast, micro speakers market trends,
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