The Global Speaker Market is expected to reach USD 302.95 Bn by 2030 from USD 47.05 Bn.in 2023, growing at at CAGR of 30.5%.
Speaker Market Scope and Research Methodology
This Speaker Market research report provides a comprehensive view of competition, including market share and profiles of major industry rivals worldwide. The study delves into various sectors to examine the factors that influence the industry’s growth.
The top-down and bottom-up approaches are used to validate and estimate market size by segment. Speaker Market estimates are based on sale prices, with weights applied to usage rate and average sale price to produce percentage splits, market shares, and segment breakdowns. The geographical divisions are based on the adoption or usage percentage of the market size in each area.
Speaker Market Drivers :
Voice assistants are driving speaker sales for various reasons. Voice assistants simplify controlling the speaker. Voice commands allow hands-free speaker control. This function helps people who’re busy and occupied most of the time; and like to use voice commands just as “Alexa, play music” or “Google, turn up the volume” which can start music playback on a speaker.
Voice assistants go beyond music control. They enable speakers’ many functionalities. Voice assistants can play music, set alarms, check the weather, and control smart home devices. This adaptability improves the user experience hence it boosts the demand of the smart speaker in the market.
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Speaker Market Segmentation Analysis:
Based on Formulation, the Tablets Supplements segment held the largest market share of the Market in 2023. According to the MMR analysis, It stands out as the dominant segment in Market thanks to its rapid technological advancement and growing adoption of smart devices with data connectivity and integration.
by Product
Bookshelf speakers
Tower speakers
Subwoofers
Soundbars
Portable speakers
by Application
Home Entertainment
Commercial applications
Automotive speakers
by Technology
Passive speakers
Active speakers
by Price
Budget speakers
Mid-range speakers
High-end speakers
by Distribution Channels
Offline channels
Online channels
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Key players include Speaker Industry :
1. Sony Corporation (Tokyo, Japan)
2. JBL (Stow, MA, USA)
3. Harman Kardon (Worthington, OH, USA)
4. Polk Audio (Baltimore, MD, USA)
5. Ultimate Ears (Los Angeles, CA, USA)
6. Sennheiser (Wedemark, Germany)
7. Klipsch (Indianapolis, IN, USA)
8. Bang & Olufsen (Struer, Denmark)
9. Bowers & Wilkins (Worthing, West Sussex, England)
10. Yamaha Corporation (Shibuya, Tokyo, Japan)
11. Pioneer Electronics (Tokyo, Japan)
12. LG Electronics (Seoul, South Korea)
13. Samsung Electronics (Suwon, South Korea)
14. Sonos (Santa Barbara, CA, USA)
15. Marshall (London, England)
16. Edifier (Shenzhen, Guangdong, China)
17. Krell (Santa Monica, CA, USA)
18. Devialet (Paris, France)
19. Focal (Sainte-Anne-d’Auray, France)
20. Teufel (Berlin, Germany)
21. Naim Audio (Salisbury, England)
22. Cambridge Audio (Cambridge, England)
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Key Questions Answered in the Speaker Market Report are:
- Which segment asserted the greatest market share in 2024 for Speaker ?
• How does the competitive landscape unfold within the Speaker market?
• What pivotal factors steer the growth trajectory of the Speaker market?
• In the realm of the Speaker market, which region commands the most significant market share?
• What is the anticipated Compound Annual Growth Rate (CAGR) for the Speaker market during the forecast period (2024-2030)?
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