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Global Speakers Market 2019-2023 | Increasing Focus on AI-ready Speakers to Boost Growth | Technavio

May 22, 2019
Technavio has published a new market research report on the global speakers market from 2019-2023. (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--May 22, 2019--

According to the latest market research report by Technavio, the global speakers market is expected to post a CAGR of over 18% during the period 2019-2023. However, the market is expected to decelerate on a year-on-year basis during the forecast period.

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Technavio has published a new market research report on the global speakers market from 2019-2023. (Graphic: Business Wire)

A key factor driving the growth of the market is the popularity of wireless streaming of audio content. Wireless speakers stream audio content by generating radio frequency (RF) signals. Wireless speakers such as smart speakers, portable speakers, and Bluetooth speakers are compact in size and occupy less space compared with home theater speakers. Most portable devices such as laptops, smartphones, and tablets are equipped with Wi-Fi and Bluetooth chips, which enable speakers to stream audio content wirelessly. The vendors are also launching smart speakers and portable speakers, which are increasing the popularity of the wireless streaming of audio content. Therefore, these aspects are expected to be key contributing factors for the increasing growth prospects of global speakers market during the forecast period.

As per Technavio, the increasing focus on AI-ready speakers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global speakers market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global speakers market: Increasing focus on AI-ready speakers

The focus on Al-ready speakers is growing, which is one of the key trends in the global speakers market. The increasing focus of vendors in the market on integrating a large number of functionalities for tracking user behavior through smart bands, connected appliances, and smart security devices has raised the significance of Al integration in smart speakers. Al-ready speakers are integrated with deep learning software solutions, which are an advanced version of Al technology. Such software solutions enable the speakers to recognize patterns of sound and other data. Both deep learning and Al technology are integrated into speakers to make their interfaces easy to use and enable efficient machine learning (ML) functionality to manage their data. Several vendors across the world are equipping their speakers with Al technology. The vendors, as well as chipset providers, are integrating Al technology to enhance user experience, and are also launching Al-ready speakers to gain a competitive advantage.

“The popularity of multi-room streaming speakers is one of the key trends expected to boost market growth during the forecast period. Multi-room streaming speakers improve the convenience of accessing music devices. Such speakers have Wi-Fi connectivity, which enables the streaming of music from one speaker to others. Networked audio devices have reduced efforts, expenses, and time of users, as they are wireless and connected with technologies. Therefore, such advantages are expected to foster market growth during the next few years,” says a senior analyst at Technavio.

Global speakers market: Segmentation analysis

This market research report segments the global speakers market by technology (wireless speakers and wired speakers), by product (smart speakers, home audio speakers and portable speakers) and geographical regions (North America, Europe, APAC, South America, and MEA).

The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the introduction of multi-room speakers which support smart home applications.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

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 10,000 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.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190522005386/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS HARDWARE AUDIO/VIDEO MOBILE/WIRELESS

SOURCE: Technavio Research

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PUB: 05/22/2019 10:35 AM/DISC: 05/22/2019 10:35 AM

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