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Speakers Market by Product, Technology and Geography - Forecast and Analysis 2023-2027

  • Published: Dec 2022
  • Pages: 166
  • SKU: IRTNTR44290
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The speakers market is estimated to grow at a CAGR of 30.5% between 2022 and 2027. The size of the market is forecast to increase by USD 115.46 billion. The growth of the market depends on serval factors, including increasing adoption of smart speakers, growing penetration of smart homes, and popularity of wireless streaming of audio content.

This report extensively covers market segmentation by product (stereo speakers and smart speakers), technology (wireless speakers and wired speakers), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Speakers Market During the Forecast Period?

Speakers Market Size

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Parent Market Analysis

Technavio categorizes the global speakers market as a part of the global consumer electronics market within the global household durables market. The parent market, the global consumer electronics market, covers products and companies engaged in the manufacturing/marketing of consumer robotics, home audio and video products, televisions, digital cameras, and related products. The market excludes mobile phones, PCs, and peripherals, which have been classified under the technology hardware, storage, and peripherals market. The market also excludes video games, gaming consoles, and gaming peripherals, which have been classified under the interactive home entertainment market. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Speakers Market: Key Drivers, Trends, Challenges, and Customer Landscape

The increasing adoption of smart speakers is notably driving the market growth, although factors such as privacy concerns associated with smart speakers may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Speakers Market Driver

One of the key factors driving growth in the speakers market is the increasing adoption of smart speakers. Smart speakers are emerging as one of the key enablers of home automation and smart home concepts. They provide control of a few or several connected device functionalities based on the voice commands of users. Such speakers are voice-controlled and are equipped with smart assistants, which take inputs from users and perform the required actions. The smart assistants equipped in smart speakers are also designed to deliver content related to weather forecasts, news, meeting updates, security alerts, and notifications related to the appliances used by the users.

These features of smart speakers have significantly increased their demand from end-users. Hence, vendors have been compelled to develop new products. Several start-ups have also been attracted to the market, and some of them are adopting crowdfunding strategies to enter the market. All these factors drive the growth of the global speakers market.

Significant Speakers Market Trend

The popularity of multi-room streaming speakers is the primary trend factor supporting the speakers market share growth. Multi-room streaming speakers improve the convenience of accessing music devices. Such speakers have Wi-Fi connectivity, which enables the streaming of music from one speaker to another. The growing trend of installing several speakers by a single user is increasing the adoption of multi-room streaming speakers.

The popularity of multi-room streaming speakers is increasing as most of their key components are compatible with voice assistants such as Amazon Alexa and Google Assistant. The vendors are focusing on releasing multi-room streaming speakers to increase their market share. With the growth of music streaming services, the demand for multi-room streaming speakers is expected to increase, which will drive the growth of the market.

Major Speakers Market Challenge

The privacy concerns associated with smart speakers will be a major challenge for the speakers market during the forecast period. Smart speakers are connected to a Wi-Fi access point. Hence, there is a possibility of cyber threats, which can lead to the leak of personal information. The functionalities of smart speakers include listening and recording voice, as well as sending the recorded audio to communication servers.

The presence of a faulty activation button can result in smart speakers recording entire conversations and sending them to back-end servers. The misinterpretation of background conversations as voice commands by smart speakers can hamper the privacy of users and their vulnerability to hacking. Such incidents affect the growth of the global speakers market.

Key Speakers Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Speakers Market Share by Geography

Global Speakers Market Customer Landscape

Who are the Major Speakers Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

3nod.com.cn - The company offers speakers such as Artistic Ultra-Thin Profile Speakers. 

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • AAC Technologies Holdings Ltd.
  • Alphabet Inc.
  • Altec Lansing Inc.
  • Amazon.com Inc.
  • Apple Inc.
  • Fortune Grand Technology Inc.
  • Foster Electric Co. Ltd.
  • Guangzhou Merry Audio Equipment Co. Ltd.
  • Koninklijke Philips NV
  • Lenovo Group Ltd.
  • LG Electronics Inc.
  • Panasonic Holdings Corp.
  • Pioneer India Electronics Pvt. Ltd.
  • Premier Sound Solutions
  • Samsung Electronics Co. Ltd.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Speakers Market?

The market share growth by the stereo speakers segment will be significant during the forecast period. A stereo speaker is a type of speaker in which two speakers are built into a single device. These speakers are usually positioned on the left and right sides of the device, and each speaker uses the respective channel of stereo sound, thus producing a stereo effect.

Speakers Market Size

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The stereo speakers segment was valued at USD 8.46 billion in 2017 and continue to grow by 2021In a stereo speaker, one of the pairs of speaker boxes is designed to be hooked up to separate amplifiers that reinforce one side of the stereo audio signal. Sometimes, a stereo speaker consists of multiple drivers and connections to take both sides of a stereo signal to be reproduced from a single speaker. The Jam Box/Mini Jambox is one example of a Bluetooth speaker that has multiple drivers (speakers) inside it to give the left and right sound from one unit. Such factors will increase the market growth during the forecast period.

Which are the Key Regions for the Speakers Market?

Speakers Market Share by Geography

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APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The concept of smart homes is still in its early growth stage in APAC but is expected to gain popularity during the forecast period. The integration of voice assistant technology with speakers will result in the adoption of smart speakers as well as home automation devices. For instance, vendors such as Amazon.com, Alibaba, and Xiaomi are offering innovative products with value-added features, such as voice assistants, to increase the adoption of speakers. The introduction of multi-room speakers to support smart home applications will drive the market during the forecast period.

This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. COVID-19 led to an upsurge in the demand for APAC. However, the sales of speakers increased from Q3 of 2020, owing to the gradual lifting of lockdown restrictions, which resulted in the opening up of electronic product manufacturing units. Additionally, in developing countries such as India, China, Vietnam, Thailand, and Singapore, rapid technological advancements and the penetration of smartphones have increased substantially due to the remote working scenario and the shift from conventional studying methods to online education owing to the lockdown restrictions implemented during the pandemic in 2020 and 2021. Therefore, the speakers market in APAC is expected to witness high growth during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Product (Stereo speakers and Smart speakers), Technology (Wireless speakers and Wired speakers), and Geography (APAC, North America, Europe, South America, and Middle East and Africa).

  • Product Outlook (USD Billion, 2017 - 2027)
    • Stereo speakers
    • Smart speakers
  • Technology Outlook (USD Billion, 2017 - 2027)
    • Wireless speakers
    • Wired speakers
  • Region Outlook (USD Billion, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Chile
      • Argentina
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Speakers Market Scope

Report Coverage

Details

Page number

166

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 30.5%

Market growth 2023-2027

USD 115.46 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

29.76

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 39%

Key countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

3nod Group, AAC Technologies Holdings Ltd., Alphabet Inc., Altec Lansing Inc., Amazon.com Inc., Apple Inc., Fortune Grand Technology Inc., Foster Electric Co. Ltd., Guangzhou Merry Audio Equipment Co. Ltd., Koninklijke Philips NV, Lenovo Group Ltd., LG Electronics Inc., Panasonic Holdings Corp., Pioneer India Electronics Pvt. Ltd., Premier Sound Solutions, Samsung Electronics Co. Ltd., Sony Group Corp., Bose Corp., Bowers and Wilkins, and Xiaomi Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.

Customization purview

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What are the Key Data Covered in this Speakers Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the speakers market between 2023 and 2027
  • Precise estimation of the size of the speakers market size and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market industry across APAC, North America, Europe, South America, and Middle East and Africa
  • Thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of speakers market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Technology
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global speakers market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global speakers market 2017 - 2021 ($ billion)
    • 4.2 product Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – product Segment 2017 - 2021 ($ billion)
    • 4.3 Technology Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Technology Segment 2017 - 2021 ($ billion)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Product

    • 6.1 Market segments
      • Exhibit 30: Chart on Product - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Product - Market share 2022-2027 (%)
    • 6.2 Comparison by Product
      • Exhibit 32: Chart on Comparison by Product
      • Exhibit 33: Data Table on Comparison by Product
    • 6.3 Stereo speakers - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Stereo speakers - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 35: Data Table on Stereo speakers - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 36: Chart on Stereo speakers - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Stereo speakers - Year-over-year growth 2022-2027 (%)
    • 6.4 Smart speakers - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Smart speakers - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 39: Data Table on Smart speakers - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 40: Chart on Smart speakers - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Smart speakers - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by Product
      • Exhibit 42: Market opportunity by Product ($ billion)

    7 Market Segmentation by Technology

    • 7.1 Market segments
      • Exhibit 43: Chart on Technology - Market share 2022-2027 (%)
      • Exhibit 44: Data Table on Technology - Market share 2022-2027 (%)
    • 7.2 Comparison by Technology
      • Exhibit 45: Chart on Comparison by Technology
      • Exhibit 46: Data Table on Comparison by Technology
    • 7.3 Wireless speakers - Market size and forecast 2022-2027
      • Exhibit 47: Chart on Wireless speakers - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 48: Data Table on Wireless speakers - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 49: Chart on Wireless speakers - Year-over-year growth 2022-2027 (%)
      • Exhibit 50: Data Table on Wireless speakers - Year-over-year growth 2022-2027 (%)
    • 7.4 Wired speakers - Market size and forecast 2022-2027
      • Exhibit 51: Chart on Wired speakers - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 52: Data Table on Wired speakers - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 53: Chart on Wired speakers - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on Wired speakers - Year-over-year growth 2022-2027 (%)
    • 7.5 Market opportunity by Technology
      • Exhibit 55: Market opportunity by Technology ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 57: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 58: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 59: Chart on Geographic comparison
      • Exhibit 60: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 61: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 62: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 63: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 64: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 North America - Market size and forecast 2022-2027
      • Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.5 Europe - Market size and forecast 2022-2027
      • Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 73: Chart on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 74: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 75: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 China - Market size and forecast 2022-2027
      • Exhibit 81: Chart on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 82: Data Table on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 83: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.9 US - Market size and forecast 2022-2027
      • Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.10 Germany - Market size and forecast 2022-2027
      • Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.11 Japan - Market size and forecast 2022-2027
      • Exhibit 93: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 94: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 95: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.12 UK - Market size and forecast 2022-2027
      • Exhibit 97: Chart on UK - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 98: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 99: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 101: Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 102: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 103: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 104: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 105: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 106: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 107: Matrix on vendor position and classification
            • 12.3 3nod Group
              • Exhibit 108: 3nod Group - Overview
              • Exhibit 109: 3nod Group - Product / Service
              • Exhibit 110: 3nod Group - Key offerings
            • 12.4 AAC Technologies Holdings Ltd.
              • Exhibit 111: AAC Technologies Holdings Ltd. - Overview
              • Exhibit 112: AAC Technologies Holdings Ltd. - Business segments
              • Exhibit 113: AAC Technologies Holdings Ltd. - Key offerings
              • Exhibit 114: AAC Technologies Holdings Ltd. - Segment focus
            • 12.5 Alphabet Inc.
              • Exhibit 115: Alphabet Inc. - Overview
              • Exhibit 116: Alphabet Inc. - Business segments
              • Exhibit 117: Alphabet Inc. - Key news
              • Exhibit 118: Alphabet Inc. - Key offerings
              • Exhibit 119: Alphabet Inc. - Segment focus
            • 12.6 Altec Lansing Inc.
              • Exhibit 120: Altec Lansing Inc. - Overview
              • Exhibit 121: Altec Lansing Inc. - Product / Service
              • Exhibit 122: Altec Lansing Inc. - Key offerings
            • 12.7 Amazon.com Inc.
              • Exhibit 123: Amazon.com Inc. - Overview
              • Exhibit 124: Amazon.com Inc. - Business segments
              • Exhibit 125: Amazon.com Inc. - Key news
              • Exhibit 126: Amazon.com Inc. - Key offerings
              • Exhibit 127: Amazon.com Inc. - Segment focus
            • 12.8 Apple Inc.
              • Exhibit 128: Apple Inc. - Overview
              • Exhibit 129: Apple Inc. - Business segments
              • Exhibit 130: Apple Inc. - Key news
              • Exhibit 131: Apple Inc. - Key offerings
              • Exhibit 132: Apple Inc. - Segment focus
            • 12.9 Bose Corp.
              • Exhibit 133: Bose Corp. - Overview
              • Exhibit 134: Bose Corp. - Product / Service
              • Exhibit 135: Bose Corp. - Key news
              • Exhibit 136: Bose Corp. - Key offerings
            • 12.10 Bowers and Wilkins
              • Exhibit 137: Bowers and Wilkins - Overview
              • Exhibit 138: Bowers and Wilkins - Product / Service
              • Exhibit 139: Bowers and Wilkins - Key offerings
            • 12.11 Fortune Grand Technology Inc.
              • Exhibit 140: Fortune Grand Technology Inc. - Overview
              • Exhibit 141: Fortune Grand Technology Inc. - Product / Service
              • Exhibit 142: Fortune Grand Technology Inc. - Key offerings
            • 12.12 Foster Electric Co. Ltd.
              • Exhibit 143: Foster Electric Co. Ltd. - Overview
              • Exhibit 144: Foster Electric Co. Ltd. - Business segments
              • Exhibit 145: Foster Electric Co. Ltd. - Key offerings
              • Exhibit 146: Foster Electric Co. Ltd. - Segment focus
            • 12.13 Guangzhou Merry Audio Equipment Co. Ltd.
              • Exhibit 147: Guangzhou Merry Audio Equipment Co. Ltd. - Overview
              • Exhibit 148: Guangzhou Merry Audio Equipment Co. Ltd. - Product / Service
              • Exhibit 149: Guangzhou Merry Audio Equipment Co. Ltd. - Key offerings
            • 12.14 Koninklijke Philips NV
              • Exhibit 150: Koninklijke Philips NV - Overview
              • Exhibit 151: Koninklijke Philips NV - Business segments
              • Exhibit 152: Koninklijke Philips NV - Key news
              • Exhibit 153: Koninklijke Philips NV - Key offerings
              • Exhibit 154: Koninklijke Philips NV - Segment focus
            • 12.15 Lenovo Group Ltd.
              • Exhibit 155: Lenovo Group Ltd. - Overview
              • Exhibit 156: Lenovo Group Ltd. - Business segments
              • Exhibit 157: Lenovo Group Ltd. - Key offerings
              • Exhibit 158: Lenovo Group Ltd. - Segment focus
            • 12.16 LG Electronics Inc.
              • Exhibit 159: LG Electronics Inc. - Overview
              • Exhibit 160: LG Electronics Inc. - Business segments
              • Exhibit 161: LG Electronics Inc. - Key news
              • Exhibit 162: LG Electronics Inc. - Key offerings
              • Exhibit 163: LG Electronics Inc. - Segment focus
            • 12.17 Premier Sound Solutions
              • Exhibit 164: Premier Sound Solutions - Overview
              • Exhibit 165: Premier Sound Solutions - Product / Service
              • Exhibit 166: Premier Sound Solutions - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 167: Inclusions checklist
                • Exhibit 168: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 169: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 170: Research methodology
                • Exhibit 171: Validation techniques employed for market sizing
                • Exhibit 172: Information sources
              • 13.5 List of abbreviations
                • Exhibit 173: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Speakers market growth will increase by $115.46 billion during 2023-2027.
              The speakers market is expected to grow at a CAGR of 30.5% during 2023-2027.
              Technavio has segmented the speakers market by product (Stereo speakers and Smart speakers) ,technology (Wireless speakers and Wired speakers) , and geography (APAC, North America, Europe, South America, and Middle East and Africa).
              3nod Group, AAC Technologies Holdings Ltd., Alphabet Inc., Altec Lansing Inc., Amazon.com Inc., Apple Inc., Fortune Grand Technology Inc., Foster Electric Co. Ltd., Guangzhou Merry Audio Equipment Co. Ltd., Koninklijke Philips NV, Lenovo Group Ltd., LG Electronics Inc., Panasonic Holdings Corp., Pioneer India Electronics Pvt. Ltd., Premier Sound Solutions, Samsung Electronics Co. Ltd., Sony Group Corp., Bose Corp., Bowers and Wilkins, Xiaomi Inc. are a few of the key vendors in the speakers market.
              APAC will register the highest growth rate of 38.76% among the other regions. Therefore, the speakers market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              • US
              • China
              • Japan
              • Germany
              • UK
              The key factors driving the speakers market growth are:
              • Increasing adoption of smart speakers
              • Popularity of multi-room streaming speakers
              The speakers market vendors should focus on grabbing business opportunities from the stereo speakers segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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