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Speakers Market: 13.37% Y-O-Y Growth Rate in 2021 | Market Size by Technology, Product, Geographic Scope, and Forecast

NEW YORK, July 5, 2022 /PRNewswire/ -- 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.

Technavio has announced its latest market research report titled Speakers Market by Technology, Product, and Geography - Forecast and Analysis 2021-2025
Technavio has announced its latest market research report titled Speakers Market by Technology, Product, and Geography - Forecast and Analysis 2021-2025

Download Sample Report: for more additional information about the Speakers Market

The Speakers Market Share is expected to increase by USD 28.37 billion from 2020 to 2025, with an accelerated CAGR of 14%- according to the recent market study by Technavio. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.

Vendor Insights-

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

  • Alphabet Inc.- The company offers smart speaker designed by Google, which enables users to interact with services through Google Assistant, which is a personal assistant software, through voice commands.

  • Bose Corp.- The company delivers wall to wall stereo sound and has built-in Amazon Alexa, which can be connected through home Wi-Fi network or Bluetooth.

  • Koninklijke Philips NV- The company offers Bluetooth speaker that delivers high-powered sound. It also lights up in sync with the beats and is available in a splash-proof design with wide range of  setting. It can also be connected to SD Card and has a radio connectivity.

Find additional highlights on the vendors and their product offerings. View Sample Report

Regional Market Outlook

The speakers market is segmented by technology (wireless speakers and wired speakers), product (stereo speakers and smart speakers), and geography (APAC, North America, Europe, South America, and MEA). 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.

More key highlights on the regional market share of most of the above-mentioned countries. Look out for more information on market dynamics scenario, demand & supply forces, product offerings, financial information, and SWOT analysis. All at affordable Plans

Speakers Market Trend:

Find additional information about various other market Drivers & Trends available with Technavio. Request for the Sample Report

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Here are Some Similar Topics-

Automotive Audio Speakers Market by Application and Geography - Forecast and Analysis 2021-2025: The automotive audio speakers market share is expected to increase by USD 6.37 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 7.29%. The availability of cost-effective aftermarket speakers is notably driving the market growth, although factors such as design complexities and high costs of advanced automotive audio systems may impede market growth. Find More Exclusive Research Insights Here

Smart Home Speaker Market in US by Platform, Distribution Channel, and Geography - Forecast and Analysis 2022-2026: The smart home speaker market share in US is expected to increase to USD 3.93 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 18.45%. The market is fragmented and the vendors are deploying growth strategies such as new product launches to compete in the market. Find More Exclusive Research Insights Here

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

North America, Europe, APAC, 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 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.

Table of Contents

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem

  • 2.2 Value chain analysis

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2020

  • 3.4 Market outlook: Forecast for 2020 - 2025

4 Five Forces Analysis

  • 4.1 Five Forces Summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Product

  • 5.1 Market segments

  • 5.2 Comparison by Product

  • 5.3 Stereo speakers - Market size and forecast 2020-2025

  • 5.4 Smart speakers - Market size and forecast 2020-2025

  • 5.5 Market opportunity by Product

6 Market Segmentation by Technology

  • 6.1 Market segments

  • 6.2 Comparison by Technology

  • 6.3 Wireless speakers - Market size and forecast 2020-2025

  • 6.4 Wired speakers - Market size and forecast 2020-2025

  • 6.5 Market opportunity by Technology

7 Customer landscape

  • 7.1 Overview

8 Geographic Landscape

  • 8.1 Geographic segmentation

  • 8.2 Geographic comparison

  • 8.3 APAC - Market size and forecast 2020-2025

  • 8.4 North America - Market size and forecast 2020-2025

  • 8.5 Europe - Market size and forecast 2020-2025

  • 8.6 South America - Market size and forecast 2020-2025

  • 8.7 MEA - Market size and forecast 2020-2025

  • 8.8 Key leading countries

  • 8.9 Market opportunity by geography

9 Drivers, Challenges, and Trends

  • 9.1 Market drivers

  • 9.2 Market challenges

  • 9.3 Market trends

10 Vendor Landscape

  • 10.1 Overview

  • 10.2 Landscape disruption

  • 10.3 Competitive Scenario

11 Vendor Analysis

  • 11.1 Vendors covered

  • 11.2 Market positioning of vendors

  • 11.3 Alphabet Inc.

  • 11.4 Amazon.com Inc.

  • 11.5 Apple Inc.

  • 11.6 Bose Corp.

  • 11.7 Koninklijke Philips NV

  • 11.8 LG Electronics Inc.

  • 11.9 Panasonic Corp.

  • 11.10 Samsung Electronics Co. Ltd.

  • 11.11 Sony Corp.

  • 11.12 Xiaomi Corp.

12 Appendix

  • 12.1 Scope of the report

  • 12.2 Currency conversion rates for US$

  • 12.3 Research methodology

  • 12.4 List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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 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.

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