Technavio, a tech-focused market research firm, has published a new report on the global speaker market, which is expected to experience an exceptional growth rate with a CAGR of close to 20% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global speaker market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global speakers market into the following key regions: The Americas, APAC, and EMEA.
Geographical segmentation of the global speaker market for 2015 (market share %)
|
Americas |
43.84% |
|
EMEA |
35.29% |
|
APAC |
20.87% |
Source: Technavio
The Americas: largest revenue generating region for speakers
The Americas are the highest adopter of consumer electronics across the world making it the largest region in the global market for speakers. The presence of high-income groups in North America will make it the highest revenue contributor in the region. The increased per capita income of the population in the region will have a positive impact on the growth of speaker market in the Americas. The market is also witnessing the adoption of wireless speakers which is regarded as a style statement for the majority of the population in the region will help in the development of innovative products in the market.
“The American market is driven by the growth in the live shows and music streaming programs and the US is the highest contributor of these shows in the region. The adoption of high-quality speakers is primarily driven by the need for superior visual and audio experience by the end-users. Bluetooth speakers are preferred over other types of audio devices as they are easy to operate in the American market. Moreover, the growth in the South American countries like Brazil and Mexico is expected to increase the demand for speakers in the American market, over the period of next four years,” a lead analyst at Technavio, specializing in research on consumer electronics.
Click here to request a free sample of this report
Speaker market in EMEA
The high growth in the EMEA market is attributed to the increased spending capability of the population in the region. It was estimated that the Western Europe region accounted for more than 75% of the market in the region during 2015. The popularity of music and the high preference for entertainment among people will drive the market growth in the region during the forecast period. The music lovers in the region have immense brand loyal, and that encourages them to invest in good quality speakers that include wireless ones as well.
Speaker market in APAC
The increasing adoption of portable speakers in APAC will make it the fastest-growing region in the market during the forecast period. The increase in disposable income and spending capabilities among the population will result in the growth of APAC market. Countries like China, Japan, and India will emerge as the key revenue generators in the APAC market. The presence of key vendors like Panasonic, Pioneer, LG Electronics, and JVCKENWOOD in the region will help in the availability of a variety of products and increase the revenue in the region.
The top leading vendors operating in the global speaker market are:
- Beats Electronics
- Bose
- LG Electronics
- Samsung Electronics
- Sony
Other prominent vendors in the market include Atlantic Technology, Bowers & Wilkins, Braven, Creative Technology, Denon, Harman International Industries, Jawbone, JVCKENWOOD, Koninklijke Philips, Logitech, Panasonic, Pioneer, Plantronics, Qualcomm Technologies, Sennheiser Electronic, Shure, Sonos, and Yamaha.
A more detailed analysis is available in the Technavio report titled, ‘Global Speaker Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Smart Headphones Market 2016-2020
- Global Accessories and Peripherals Market for Smartphones and Tablets 2016-2020
- Global Mobile Device Accessories Market 2016-2020
To read more press releases- click here.
For any assistance or query, please contact our media team at:
media@technavio.com
US: +1 630 333 9501
UK: +44 208 123 1770
https://www.technavio.com/
