Technavio has been monitoring the speakers market and it is poised to grow by USD 29.28 billion during 2020-2024, progressing at a CAGR of over 13% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Speakers Market 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions-
- What are the major trends in the market?
- Rising popularity of wireless streaming of audio content is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of over 13%, the incremental growth of the market is anticipated to be USD 29.28 billion.
- Who are the top players in the market?
- 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. are some of the major market participants.
- What are the key market drivers and challenges?
- Focus on AI-ready speakers is one of the major factors driving the market. However, the privacy concerns associated with smart speakers restraints the market growth.
- How big is the APAC market?
- The APAC region will contribute 44% of market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 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. are some of the major market participants. The focus on AI-ready speakers will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Speakers Market 2020-2024: Segmentation
Speakers Market is segmented as below:
- Wireless Speakers
- Wired Speakers
- North America
- South America
- Stereo Speakers
- Smart Speakers
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Speakers Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The speakers market report covers the following areas:
- Speakers Market Size
- Speakers Market Trends
- Speakers Market Analysis
This study identifies the rising popularity of wireless streaming of audio content as one of the prime reasons driving the speakers market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Speakers Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist speakers market growth during the next five years
- Estimation of the speakers market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the speakers market
- 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
Table of Contents:
- Market ecosystem
- Value chain analysis
- 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
- 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
- Landscape disruption
- 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.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
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