Speakers Market by Technology, Product, and Geography - Forecast and Analysis 2021-2025

  • Published: Apr 2021
  • Pages: 120
  • SKU: IRTNTR44290
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The speakers market has the potential to grow by USD 28.37 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 13.56%.

This speakers market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by technology (wireless speakers and wired speakers), product (stereo speakers and smart speakers), and geography (APAC, North America, Europe, South America, and MEA). The speakers market report also offers information on several market vendors, including Alphabet Inc., Amazon.com Inc., Apple Inc., Bose Corp., Koninklijke Philips NV, LG Electronics Inc., Panasonic Corp., Samsung Electronics Co. Ltd., Sony Corp., and Xiaomi Corp. among others.

What will the Speakers Market Size be in 2021?

Speakers-Market-Market-Size-2020-2025

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Speakers Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing adoption of smart speakers is notably driving the speakers market growth, although factors such as privacy concerns associated with smart speakers may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the speakers industry get your FREE report sample now.

  • Wireless speakers such as smart speakers, Bluetooth speakers, and portable speakers are compact in size and do not require any wiring.
  • The Wi-Fi and Bluetooth chips in portable devices such as laptops, smartphones, and tablets allow speakers to stream audio content wirelessly by generating radio frequency (RF) signals.
  • The growing demand for high definition (HD) streaming has led to the development of new and innovative technologies such as wireless HD and ITU-T G.hn.
  • The launch of portable and smart speakers will further boost the popularity of wireless audio streaming.
  • The growing popularity of wireless streaming of audio content, coupled with the integration of AI technology, in speakers will drive market growth.
  • The increasing focus on AI-ready speakers is one of the significant speakers market trends that will fuel market growth.
  • Several vendors are incorporating AI technology into their products to track user behavior through smart bands, connected appliances, and smart security devices.
  • The deep learning software solutions integrated into AI-ready speakers help in recognizing sound patterns and other data, making the interface user-friendly, and enabling machine learning (ML) functionality for data management.
  • In addition to enhancing the user experience, the integration of AI technology in speakers will provide a competitive edge to market players.

This speakers market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Speakers Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Alphabet Inc.
  • Amazon.com Inc.
  • Apple Inc.
  • Bose Corp.
  • Koninklijke Philips NV
  • LG Electronics Inc.
  • Panasonic Corp.
  • Samsung Electronics Co. Ltd.
  • Sony Corp.
  • Xiaomi Corp.

 

The speakers market is fragmented and the vendors are deploying growth strategies such as product launches to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the speakers market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Speakers Market?

Speakers-Market-Market-Share-by-Region-2020-2025

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45% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for speakers in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Rapid advances in technology, changing end-user preferences, increasing partnerships between smart speaker vendors and security service providers, and the rising adoption of music streaming services will facilitate the speakers market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Technology Segments in the Speakers Market?

Speakers-Market-Market-Share-by-Technology-2020-2025

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The speakers market will register a significant growth in the wireless speakers segment due to the adoption of wireless communication technologies. Most of the speakers are integrated with communication technologies such as Wi-Fi and Bluetooth. These technologies establish a data link for information to be passed between devices. Thus, the stereo speakers segment of the global market is growing due to the launch of new products and expansion of product portfolio.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the speakers market size.

 

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

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive speakers market growth during the next five years
  • Precise estimation of the speakers market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the speakers industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of speakers market vendors

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Speakers Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 14%

Market growth 2021-2025

$ 28.37 billion

Market structure

Fragmented

YoY growth (%)

13.37

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 45%

Key consumer countries

China, US, Germany, Japan, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Alphabet Inc., Amazon.com Inc., Apple Inc., Bose Corp., Koninklijke Philips NV, LG Electronics Inc., Panasonic Corp., Samsung Electronics Co. Ltd., Sony Corp., and Xiaomi Corp.

Market Dynamics

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

Customization purview

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2019
    • Market outlook: Forecast for 2019 - 2024

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Stereo speakers - Market size and forecast 2019-2024
    • Smart speakers - Market size and forecast 2019-2024
    • Market opportunity by Product

    Market Segmentation by Technology

    • Market segments
    • Comparison by Technology
    • Wireless speakers - Market size and forecast 2019-2024
    • Wired speakers - Market size and forecast 2019-2024
    • Market opportunity by Technology

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2019-2024
      • North America - Market size and forecast 2019-2024
      • Europe - Market size and forecast 2019-2024
      • South America - Market size and forecast 2019-2024
      • MEA - Market size and forecast 2019-2024
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Alphabet Inc.
      • Amazon.com Inc.
      • Apple Inc.
      • Bose Corp.
      • Koninklijke Philips NV
      • LG Electronics Inc.
      • Panasonic Corp.
      • Samsung Electronics Co. Ltd.
      • Sony Corp.
      • Xiaomi Corp.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • 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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      The speakers market growth will increase by $29.28 billion during 2019-2024.
      The speakers market is expected to grow at a CAGR of 13.14% during 2019-2024.
      Technavio has segmented the speakers market by technology (Wireless speakers and Wired speakers) ,product (Stereo speakers and Smart speakers) , and geographic (APAC, North America, Europe, South America, and MEA).
      Alphabet Inc., Amazon.com Inc., Apple Inc., Bose Corp., Koninklijke Philips NV, LG Electronics Inc., Panasonic Corp., Samsung Electronics Co. Ltd., Sony Corp., Xiaomi Corp. are a few of the key vendors in the speakers market.
      APAC will register the highest growth rate of 44.06% among the other regions. Therefore, the speakers market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      • China
      • US
      • Germany
      • Japan
      • 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 wireless speakers segment as it accounted for the largest market share in the base year.
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