Speakers market size to grow by USD 115.46 billion from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics - Technavio

NEW YORK, Dec. 20, 2022 /PRNewswire/ -- Technavio categorizes the global speakers market

as a part of the global consumer electronics market, which covers products and companies engaged in the manufacturing/marketing of consumer robotics, home audio and video products, televisions, digital cameras, and related products.

The global speakers market size is estimated to increase by USD 115.46 billion between 2022 and 2027. The market's growth momentum will be progressing at a CAGR of 30.5%.

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Global Speakers market - Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity
• Get detailed insights into the market study. Buy the report!

Global Speakers market – Vendor Analysis

Vendor Landscape - The global speakers market is fragmented due to the presence of many diversified international and regional vendors. International players are consistently expanding their footprint by acquiring regional and local players. The high growth potential in the market is attracting many new players. This is intensifying the competition among vendors, which is leading to the introduction of many innovative and advanced products.

Some of the prominent vendors in the market include 3nod Group, AAC Technologies Holdings Ltd., Alphabet Inc., Altec Lansing Inc., Amazon.com Inc., Apple Inc., Fortune Grand Technology Inc., Foster Electric Co. Ltd., Guangzhou Merry Audio Equipment Co. Ltd., Koninklijke Philips NV, Lenovo Group Ltd., LG Electronics Inc., Panasonic Holdings Corp., Pioneer India Electronics Pvt. Ltd., Premier Sound Solutions, Samsung Electronics Co. Ltd., Sony Group Corp., Bose Corp., Bowers and Wilkins, and Xiaomi Inc. and others.

Vendor Offerings -

• 3nod Group - The company offers speakers such as Artistic Ultra-Thin Profile Speakers.
• AAC Technologies Holdings Ltd. - The company offers speakers such as Dual Speaker or SPK plus RCK or receiver.
• Alphabet Inc. - The company offers speakers such as Nest Mini Speakers.
• Altec Lansing Inc. - The company offers speakers such as Life Jacket Jolt.

Global Speakers Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on the product (stereo speakers and smart speakers), technology (wireless speakers and wired speakers), and geography (APAC, North America, Europe, South America, and Middle East and Africa). 

• By product, the market growth will be significant in the stereo speakers segment during the forecast period. The segment is driven by advances in technology, the shift from conventional to modern media systems, and the growing inclination of end-users toward appealing designs, high-quality sound, and unrestricted mobility.

Geography Overview
By geography, the global speakers market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global speakers market.

• APAC is estimated to contribute 39% to the growth of the global market during the forecast period. The increasing use of music streaming applications, rising investments in 5G technology, and the proliferation of smartphones are driving the growth of the regional market.

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Global Speakers Market – Market Dynamics

Leading Drivers – The market is driven by the increasing adoption of smart speakers. Smart speakers are increasingly becoming popular among consumers as they offer multiple functionalities. They are voice-controlled and are equipped with smart assistants to provide convenience for end-users. They are designed to deliver content related to weather forecasts, news, meeting updates, security alerts, and also notifications related to the appliances used by the users. Their growing demand is encouraging vendors to incorporate the latest technologies in their offerings. These factors coupled with the expanding population of potential customers is driving the growth of the market.

Key Trends – The popularity of multi-room streaming speakers is the major trend in the market. The market is witnessing an increase in the adoption of multi-room speakers among end-users. They are compatible with voice assistants such as Amazon Alexa and Google Assistant. These speakers have Wi-Fi connectivity, which enables the streaming of music from one speaker to another. Multi-room streaming speakers improve the convenience of accessing devices as they can be controlled using iOS and Android apps on mobile devices. With the rise in the demand for music streaming services, the demand for multi-room streaming speakers is expected to increase during the forecast period. This trend will positively influence the growth of the global speakers market during the forecast period.

Major challenges – Privacy concerns associated with smart speakers will challenge the growth of the market. Smart speakers are associated with numerous privacy issues as they are connected through some Wi-Fi access point. This increases the risk of cyber threats and the leak of critical information. Besides, there have been several instances in which smart speakers recorded entire conversations and sent them to back-end servers. Such privacy issues associated with the use of smart speakers will reduce the growth potential in the market.

Driver, Trend, and Challenges are the factors of market dynamics that state about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this speakers market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the speakers market between 2023 and 2027
• Precise estimation of the size of the speakers market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the speakers market industry across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of speakers market vendors

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Related Reports:

• The smart home speaker market size 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 rapidly increasing unit sales of smart home speakers is notably driving the smart home speaker market growth in US, although factors such as the privacy and security threats associated with smart home speakers may impede the market growth.
• The music market size is expected to increase by USD 50.46 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 11.84%. The increasing adoption of digital music is notably driving the music market growth, although factors such as illegal downloads and piracy may impede the market growth.

Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Technology
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global speakers market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global speakers market 2017 - 2021 ($ billion)

• 4.2 product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – product Segment 2017 - 2021 ($ billion)

• 4.3 Technology Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Technology Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments 
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Stereo speakers - Market size and forecast 2022-2027
• Exhibit 34: Chart on Stereo speakers - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Stereo speakers - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Stereo speakers - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Stereo speakers - Year-over-year growth 2022-2027 (%)

• 6.4 Smart speakers - Market size and forecast 2022-2027
• Exhibit 38: Chart on Smart speakers - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Smart speakers - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Smart speakers - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Smart speakers - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Product 
• Exhibit 42: Market opportunity by Product ($ billion)

7 Market Segmentation by Technology

• 7.1 Market segments 
• Exhibit 43: Chart on Technology - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Technology - Market share 2022-2027 (%)

• 7.2 Comparison by Technology 
• Exhibit 45: Chart on Comparison by Technology
• Exhibit 46: Data Table on Comparison by Technology

• 7.3 Wireless speakers - Market size and forecast 2022-2027
• Exhibit 47: Chart on Wireless speakers - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Data Table on Wireless speakers - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Chart on Wireless speakers - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Wireless speakers - Year-over-year growth 2022-2027 (%)

• 7.4 Wired speakers - Market size and forecast 2022-2027
• Exhibit 51: Chart on Wired speakers - Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Data Table on Wired speakers - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Chart on Wired speakers - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Wired speakers - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Technology 
• Exhibit 55: Market opportunity by Technology ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 57: Chart on Market share by geography 2022-2027 (%)
• Exhibit 58: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 59: Chart on Geographic comparison
• Exhibit 60: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 61: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 62: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 63: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 64: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 73: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027
• Exhibit 81: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027
• Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027
• Exhibit 93: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027
• Exhibit 97: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 101: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 102: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 104: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 105: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 106: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 107: Matrix on vendor position and classification

• 12.3 3nod Group 
• Exhibit 108: 3nod Group - Overview
• Exhibit 109: 3nod Group - Product / Service
• Exhibit 110: 3nod Group - Key offerings

• 12.4 AAC Technologies Holdings Ltd. 
• Exhibit 111: AAC Technologies Holdings Ltd. - Overview
• Exhibit 112: AAC Technologies Holdings Ltd. - Business segments
• Exhibit 113: AAC Technologies Holdings Ltd. - Key offerings
• Exhibit 114: AAC Technologies Holdings Ltd. - Segment focus

• 12.5 Alphabet Inc. 
• Exhibit 115: Alphabet Inc. - Overview
• Exhibit 116: Alphabet Inc. - Business segments
• Exhibit 117: Alphabet Inc. - Key news
• Exhibit 118: Alphabet Inc. - Key offerings
• Exhibit 119: Alphabet Inc. - Segment focus

• 12.6 Altec Lansing Inc. 
• Exhibit 120: Altec Lansing Inc. - Overview
• Exhibit 121: Altec Lansing Inc. - Product / Service
• Exhibit 122: Altec Lansing Inc. - Key offerings

• 12.7 Amazon.com Inc. 
• Exhibit 123: Amazon.com Inc. - Overview
• Exhibit 124: Amazon.com Inc. - Business segments
• Exhibit 125: Amazon.com Inc. - Key news
• Exhibit 126: Amazon.com Inc. - Key offerings
• Exhibit 127: Amazon.com Inc. - Segment focus

• 12.8 Apple Inc. 
• Exhibit 128: Apple Inc. - Overview
• Exhibit 129: Apple Inc. - Business segments
• Exhibit 130: Apple Inc. - Key news
• Exhibit 131: Apple Inc. - Key offerings
• Exhibit 132: Apple Inc. - Segment focus

• 12.9 Bose Corp. 
• Exhibit 133: Bose Corp. - Overview
• Exhibit 134: Bose Corp. - Product / Service
• Exhibit 135: Bose Corp. - Key news
• Exhibit 136: Bose Corp. - Key offerings

• 12.10 Bowers and Wilkins 
• Exhibit 137: Bowers and Wilkins - Overview
• Exhibit 138: Bowers and Wilkins - Product / Service
• Exhibit 139: Bowers and Wilkins - Key offerings

• 12.11 Fortune Grand Technology Inc. 
• Exhibit 140: Fortune Grand Technology Inc. - Overview
• Exhibit 141: Fortune Grand Technology Inc. - Product / Service
• Exhibit 142: Fortune Grand Technology Inc. - Key offerings

• 12.12 Foster Electric Co. Ltd. 
• Exhibit 143: Foster Electric Co. Ltd. - Overview
• Exhibit 144: Foster Electric Co. Ltd. - Business segments
• Exhibit 145: Foster Electric Co. Ltd. - Key offerings
• Exhibit 146: Foster Electric Co. Ltd. - Segment focus

• 12.13 Guangzhou Merry Audio Equipment Co. Ltd.
• Exhibit 147: Guangzhou Merry Audio Equipment Co. Ltd. - Overview
• Exhibit 148: Guangzhou Merry Audio Equipment Co. Ltd. - Product / Service
• Exhibit 149: Guangzhou Merry Audio Equipment Co. Ltd. - Key offerings

• 12.14 Koninklijke Philips NV 
• Exhibit 150: Koninklijke Philips NV - Overview
• Exhibit 151: Koninklijke Philips NV - Business segments
• Exhibit 152: Koninklijke Philips NV - Key news
• Exhibit 153: Koninklijke Philips NV - Key offerings
• Exhibit 154: Koninklijke Philips NV - Segment focus

• 12.15 Lenovo Group Ltd. 
• Exhibit 155: Lenovo Group Ltd. - Overview
• Exhibit 156: Lenovo Group Ltd. - Business segments
• Exhibit 157: Lenovo Group Ltd. - Key offerings
• Exhibit 158: Lenovo Group Ltd. - Segment focus

• 12.16 LG Electronics Inc. 
• Exhibit 159: LG Electronics Inc. - Overview
• Exhibit 160: LG Electronics Inc. - Business segments
• Exhibit 161: LG Electronics Inc. - Key news
• Exhibit 162: LG Electronics Inc. - Key offerings
• Exhibit 163: LG Electronics Inc. - Segment focus

• 12.17 Premier Sound Solutions 
• Exhibit 164: Premier Sound Solutions - Overview
• Exhibit 165: Premier Sound Solutions - Product / Service
• Exhibit 166: Premier Sound Solutions - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 167: Inclusions checklist
• Exhibit 168: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 169: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 170: Research methodology
• Exhibit 171: Validation techniques employed for market sizing
• Exhibit 172: Information sources

• 13.5 List of abbreviations 
• Exhibit 173: 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 consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. 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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