London, 03 December 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Boombox Market 2015-2019, which is expected to witness a CAGR of 4.70 percent during the period of 2014-2019.
Since its inception, the Boombox industry has been represented by the same bunch of large-scale enterprises. These companies continued to maintain the boombox portfolio with established models. Owing to their economies of scale, these companies incorporated innovations in technology and developed modern boomboxes. This development will continue to be instrumental in driving the growth of this market.
“Countries in emerging economies, primarily South Korea and China, are witnessing a significant rise in the number of local manufacturers of electronics,” says Faisal Ghaus, Vice President of TechNavio.
“Consumers look at entertainment systems to support their recreational activities and buy equipment for entertainment at home and outdoors. Also, rise in the middle-class population in many countries has increased the sales of advanced stereo sound systems.”
Key Market Drivers
- Enhanced Maneuvering of the Stereo System
- Development of Enhanced Models by Existing Manufacturers
- Better Sound Quality
- Emergence of Wireless and More Compact Boomboxes
Key Market Trends
- Urbanization in Developing Countries
- Technological Obsolescence
- Increased Awareness in Internet Retailing
- Increased Penetration of Domestic Players
Key Market Vendors
- JVCKENWOOD Corp.
- Logitech International SA
- Panasonic Corp.
- Sharp Corp.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
