Speakers - Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global Speakers Market is accounted for $49.38 billion in 2020 and is expected to reach $255.37 billion by 2028 growing at a CAGR of 22.8% during the forecast period. While the factors like rising in popularity of wireless streaming of audio content and increasing adoption of smart speakers are driving the market growth. However, data privacy and security concerns are hindering market growth.
Speakers are audio systems that convert electromagnetic waves into sound waves. It includes portable speakers, smart speakers, and home audio speakers. Some speakers are calculated to work exclusively with computers, while others can be hooked up to any type of sound system. Regardless of their design, the purpose of speakers is to produce audio output that can be heard by the listener.
Based on the end user, the commercial segment is estimated to have lucrative growth during the forecast period. This is attributed to the identification of benefits from speakers, especially smart speakers.
By geography, the Asia Pacific is going to have a huge demand due to factors such as the availability of the highest number of speaker users and increase in expenditure capacity of people. However, rapid advances in technology, changing end-user preferences, and the rising adoption of music streaming services will significantly drive speaker market growth in this region.
Some of the key players profiled in the Speakers Market include Xiaomi, Sony Corporation, Amazon.com, Fortune Grand Technology Inc., LG Electronics, Philips, Alphabet Inc, Guangzhou Merry Audio Equipment Co. Ltd, Google, Foster Electric Company Limited, Panasonic, Bose Corporation, Apple Inc, Guoguang Electric Co., Ltd., Samsung Electronics, and AAC Technologies Holdings Inc.
• Home Audio Speakers
• Portable Speakers
• Smart Speakers
• Stereo Speakers/True Wireless Stereo (TWS)
• Less Than $50
• $50 to $100
• $100 to $200
• More Than $200
Sales Channels Covered:
• Wired Speakers
• Wireless Speakers
End Users Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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