NEW YORK, March 2, 2022 /PRNewswire/ — The Speakers Market value is set to grow by USD 28.37 billion, progressing at a CAGR of 13.37% from 2020 to 2025, as per the latest report by Technavio.

Moreover, increasing adoption of smart speakers coupled with popularity of multi-room streaming speakers will drive the market growth during the forecast period.

Resulting in Y-O-Y growth rate of 13.37% in 2021, read additional information about the market, Get FREE sample report.

Latest Drivers & Trends of the Global Speakers Market

  • Market Driver:
  • 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.

  • Increasing adoption of smart speakers:

  • Market Trend:

  • Popularity of multi-room streaming speakers:

  • Popularity of multi-room streaming speakers:

Find additional information about various other market drivers & trends mentioned in our FREE sample report.

Regional Market Outlook

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.

The adoption of speakers in APAC is increasing with the rising emergence of communication infrastructure comprising high-speed networks. Also, the buying power of end-users is increasing in countries such as India and China, which can create a potential demand for new technologies such as smart homes. This will facilitate the speakers market growth in APAC over the forecast period.

Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.

Vendor Landscape

The speakers market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Download Report to know about the market’s vendor landscape highlights with a comprehensive list of vendors and their offerings.

Key Market Segmentation

  • Segmentation by Technology:
  • Wireless speakers:

The speakers market share growth by the wireless speakers segment will be significant during the forecast period.

  • Wireless speakers:

  • Wired speakers

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Our Speakers Market Report Covers the Following Areas:

  • Speakers Market Size
  • Speakers Market Trends
  • Speakers Market Analysis

Speakers Market 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025
  • 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 the speakers market vendors

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Related Reports:

Smart Speaker Market by End-user and Geography – Forecast and Analysis 2021-2025: The smart speaker market share is expected to increase by USD 20.72 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 25.98%. To get more exclusive research insights: Download FREE Sample Report

Wireless Microphone Market by Type and Geography – Forecast and Analysis 2022-2026: The wireless microphone market share is expected to increase by USD 3.36 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 15.55%. To get more exclusive research insights: Download FREE Sample Report

Table of Contents

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

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 preview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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

  • Overview

  • Vendor landscape

  • Landscape disruption

Vendor Analysis

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

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SOURCE Technavio

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