Authored By: Sarah
21 Feb 2022

Multimedia Speakers Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2020-2024

Bose Corp., Creative Technology Ltd., Koninklijke Philips NV, LG Electronics Inc., Logitech International SA, Panasonic Corp., Samsung Electronics Co. Ltd., and Sony Corp. among key vendors

Multimedia speakers market is set to post an incremental growth of $ 15.61 billion during 2020-2024. The market will progressing at a CAGR of over 11% during the forecast period. Our analysts provide a detailed understanding of the market focusing on the latest trends, and drivers that are likely to impact growth. This analysis will enable business leaders to strategize and plan for further growth of their business.


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Multimedia Speakers Market: Market Segments and Key Trends

This report provides a detailed analysis of the market by Type (Wireless speakers and Wired multimedia speakers) and Geography (APAC, Europe, MEA, North America, and South America). 45% of the market growth will originate from APAC during the forecast period. This research report provides a detailed analysis of all the segments, key trends, and challenges that are likely to influence growth.

Multimedia Speakers Market: What are the Growth Drivers?

One of the primary factors that will drive market growth is the rising preference for in-home entertainment systems. The multimedia speakers market report provides an understanding of this and all the other drivers that are likely to impact market growth. These insights will enable clients to design growth strategies that will leverage opportunities and neutralize challenges effectively.

Multimedia Speakers Market Will Grow by $ 15.61 billion| Trends, Drivers and Vendor Forecasts for 2020-2024

Vendor Analysis: Bose Corp., Creative Technology Ltd. and Edifier International Ltd. are key growth contributors

The market is fragmented. The research report provides insights into the top market player and their product portfolio along with pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Bose Corp., Creative Technology Ltd., Edifier International Ltd., Koninklijke Philips NV, LG Electronics Inc., Logitech International SA, Panasonic Corp., Samsung Electronics Co. Ltd., Sony Corp., and Yamaha Corp. are some of the major market participants. For more insights on this market: Download a Free Sample Report

 

Browse through some of other related market research reports for more insights:

  • Speakers Market: Accelerating at a CAGR of 14%, the Global Speakers market is expected to grow by $ 28.37 billion during the forecast period.
  • Automotive Audio Speakers Market: Technavio research projects the automotive audio speaker market to grow by $ 6.38 billion, accelerating at a CAGR of over 7% till 2025.
  • Smart Speaker Market: Global smart speaker market is likely to post an incremental growth of $ 20.72 billion, accelerating at a CAGR of 25.98% during the forecast period.

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market will accelerate at a CAGR of over 11%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 15.61 bn through 2020-2024.

     
  3. What is a key factor driving this market?
    rising preference for in-home entertainment systems will drive market growth over the forecast period.

     
  4. What are the key regions covered in this market research report?
    APAC, Europe, MEA, North America, and South America are the key regions featured in this research report.

     
  5. Which is the leading geographic region for this market:
    45% growth will originate from APAC

     
  6. Who are the leading market vendors?
    The leading vendors in this market are Bose Corp., Creative Technology Ltd., Edifier International Ltd., Koninklijke Philips NV, LG Electronics Inc., Logitech International SA, Panasonic Corp., Samsung Electronics Co. Ltd., Sony Corp., and Yamaha Corp.

     
  7. What are the market segments covered in this report?
    The market is segmented by Type (Wireless speakers and Wired multimedia speakers) and Geography (APAC, Europe, MEA, North America, and South America)

Multimedia Speakers Market Size to Grow by $ 15.61 Billion During 2020-2024

Technavio has been monitoring the multimedia speakers market and it is expected to grow by $ 15.61 bn, accelerating at a CAGR of almost 11% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking


Multimedia Speakers Market: Receive Free Sample Report


Multimedia Speakers Market: APAC to lead market growth during the forecast period

  • 45% of the market growth will originate from APAC during the forecast period.
  • Increasing demand for built-in wireless and smart portable speakers will be a key trend that will influence market growth significantly.
  • The Rising preference for in-home entertainment systems will be a significant factor in driving the growth of the multimedia speakers market.

Multimedia Speakers Market Will Grow by $ 15.61 billion| Trends, Drivers and Vendor Forecasts for 2020-2024

Multimedia Speakers Market: Key Competitors

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Bose Corp., Creative Technology Ltd., Edifier International Ltd., Koninklijke Philips NV, LG Electronics Inc., Logitech International SA, Panasonic Corp., Samsung Electronics Co. Ltd., Sony Corp., and Yamaha Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. For more insights on this market: Download a Free Sample Report

Multimedia Speakers Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive multimedia speakers market growth during the next five years
  • Precise estimation of the multimedia speakers market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the multimedia speakers market industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of multimedia speakers market vendors
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