Authored By: Sarah
02 Aug 2022

Speakers Market: Leading Segments, Trends, Drivers, and Challenges

Market Recovery and Growth Projections 2021-2025

Accelerating at a CAGR of 14%, the speakers market size is expected to grow up to USD 28.37 billion during the forecast period. The increasing adoption of smart speakers is notably driving the growth of the speakers market. Technavio'sresearch report offers growth projections of all the market segments, along with an in-depth analysis of all the factors that are likely to boost growth. Unlock Sample Analysis Report

Speakers Market: Leading Segments, Trends, Drivers, and Challenges

Speakers Market: Market Segments and Growth Forecasts

This research report will provide insights into the current market share of each segment along with growth projections for the next five years.

  • 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 growth will originate from APAC during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the speakers market value.
  • Based on the technology, the wireless speakers segment is expected to witness lucrative growth during the forecast period.

Speakers Market: Trends, Drivers, Challenges

The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.

  • Increasing adoption of smart speakers will be a significant factor in driving the growth of the Speakers Market.
  • The popularity of multi-room streaming speakers will be instrumental in driving the market growth during the forecast period.
  • The privacy concerns associated with smart speakers will be a hurdle that needs to be crossed on the path to success.

Speakers Market: Vendor Analysis

The market is fragmented due to the presence of several players. 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.

Alphabet Inc.- The company offers smart speakers 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 the wall-to-wall stereo sound and has built-in Amazon Alexa, which can be connected through a 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 a wide range of settings. It can also be connected to SD Card and has radio connectivity.

Download the PDF Sample Report. Our custom reports provide market insights at the global and regional level along with pipeline analysis of new product launches. It also provides a peek into the latest R&D along with impact analysis of government regulations.

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerating at a CAGR of 14%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow up to USD 28.37 billion.

     
  3. What is a key factor driving this market?
    Increasing adoption of smart speakers will drive market growth over the forecast period.

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

     
  7. What are the market segments covered in this report?
    The 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).
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