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Speakers Market size is set to grow by USD 325.8 billion from 2024-2028, Increasing adoption of smart speakers to boost the market growth, Technavio

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NEW YORK, Aug. 14, 2024 /PRNewswire/ — The global speakers market  size is estimated to grow by USD 325.8 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  47.81%  during the forecast period.  Increasing adoption of smart speakers is driving market growth, with a trend towards popularity of multi-room streaming speakers. However, privacy concerns associated with smart speakers  poses a challenge. Key market players include 3nod Group, AAC Technologies Holdings Ltd., Alphabet Inc., Altec Lansing Inc., Amazon.com Inc., Apple Inc., Bose Corp., Bowers and Wilkins, Fortune Grand Technology Inc., Foster Electric Co. Ltd., Guangzhou Merry Audio Equipment Co. Ltd., Koninklijke Philips N.V., Lenovo Group Ltd., LG Electronics Inc., Panasonic Holdings Corp., Pioneer India Electronics Pvt. Ltd., Premier Sound Solutions, Samsung Electronics Co. Ltd., Sony Group Corp., and Xiaomi Communications Co. Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

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)

Region Covered

APAC, North America, Europe, South America, and Middle East and Africa

Key companies profiled

3nod Group, AAC Technologies Holdings Ltd., Alphabet Inc., Altec Lansing Inc., Amazon.com Inc., Apple Inc., Bose Corp., Bowers and Wilkins, Fortune Grand Technology Inc., Foster Electric Co. Ltd., Guangzhou Merry Audio Equipment Co. Ltd., Koninklijke Philips N.V., Lenovo Group Ltd., LG Electronics Inc., Panasonic Holdings Corp., Pioneer India Electronics Pvt. Ltd., Premier Sound Solutions, Samsung Electronics Co. Ltd., Sony Group Corp., and Xiaomi Communications Co. Ltd.

Key Market Trends Fueling Growth

Multi-room streaming speakers enhance music accessibility with Wi-Fi connectivity, enabling wireless streaming from one speaker to another. Networked audio devices, utilizing technologies like PlayFi, Bluetooth, Wi-Fi, and AirPlay, reduce user efforts, expenses, and time. The trend of installing multiple speakers increases multi-room speaker adoption. Speakers, such as Bowers & Wilkins Formation Wedge, Duo, and Bar, can be controlled via mobile apps and are compatible with voice assistants like Amazon Alexa and Google Assistant. The global speakers market growth is driven by the rising demand for multi-room streaming speakers due to the proliferation of music streaming services. 

Speakers are trending devices in the audio industry, transforming home entertainment and communication. They convert electrical signals into sound waves through transducers that vibrate to produce audio. Trends include multi-room streaming speakers, wireless technology, and smart speakers. Frequency, volume, and amplitude are key features, with stereo sound effects enhancing the listening experience. The market is unstable, with portable and stationary speakers catering to home use and commercial applications. Smart speakers integrate voice assistants, weather, security alerts, and appliance notifications, offering a revenue-augmenting opportunity. Sound technology advancements, wireless capabilities, and smart integrations, such as Bluetooth and Wi-Fi connectivity, drive growth. Environmental concerns are emerging, with consumers demanding eco-friendly solutions. The industry responds with energy-efficient designs and recycling programs. The professional speaker market, including analog systems, continues to evolve, catering to various industries. Overall, the speaker market is a dynamic and evolving landscape, shaped by consumer spending power and technological advancements. 

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Market Challenges

The global speakers market faces challenges due to privacy concerns surrounding smart speakers. These devices, connected to Wi-Fi access points, are susceptible to cyber threats. Hackers can breach the firewall to obtain passwords and access users’ calendar details and autosaved data through hacked smartphones. Misinterpretation of background conversations as voice commands can lead to unintended recordings and data transmission. These issues may hinder market growth during the forecast period. Privacy concerns necessitate robust security measures to protect user information and maintain trust.In today’s market, music revenue faces a significant challenge from the rise of online streaming platforms. Physical music sales have declined, impacting artists and industry professionals. However, new opportunities have emerged with music concerts and live events. Music production and recording require high-end equipment like sound mixers, audio signal processors, and audio power amplifiers. Nightclubs and DJs use specialized DJ equipment, while portable Bluetooth speakers cater to individual consumers. Audio technology continues to innovate with wireless-based audio devices, headphones, sound bars, and microphones. Smartphones, tablets, laptops, and smartphones have become essential tools for music production and playback. Rechargeable batteries, such as lithium polymer, power these devices. Car speakers, pocket speakers, outdoor Bluetooth speakers, and conventional speakers cater to various markets. Online and offline sales channels coexist, with sound quality and watts being key factors for consumers. The market for hi-fi systems, Bluetooth, Wi-Fi connection, USBs, supported files, and card reader types continues to grow. Disco lighting adds to the overall music experience, making events more memorable.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This speakers market report extensively covers market segmentation by

Product 1.1 Stereo speakers1.2 Smart speakersTechnology 2.1 Wireless speakers2.2 Wired speakersGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Stereo speakers-  Stereo speakers are devices consisting of two speakers built into a single unit, each handling a specific channel of stereo sound for a realistic listening experience. These speakers may include multiple drivers and connections for both sides of a stereo signal, as seen in Bluetooth speakers like the Jam Box/Mini Jambox. The components in stereo speakers can be panned anywhere between left and right channels, creating a spatial listening experience. Home theaters employ surround sound systems, which distribute sound sources around the room for a more immersive experience. The market for stereo speakers is expanding due to advancements in digital technology and the shift from traditional to modern media systems. End-users are spending more on home stereo speakers for enhanced audio quality. Portable stereo speakers with integrated sub-speakers and the ability to stream high-quality audio content from the internet are gaining popularity. Vendors are introducing new products, contributing to the growth of the stereo speakers segment and the global speakers market. The rise in demand for wireless stereo speakers, driven by their appealing designs, high-quality sound, and mobility, is also boosting market growth.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global smart speaker market is witnessing significant growth, driven by increasing consumer demand for voice-activated devices. With advancements in AI and IoT, smart speakers are becoming integral to smart homes, offering seamless control over various applications. Meanwhile, the global multimedia speakers market is also expanding, fueled by the rising popularity of high-quality audio experiences for entertainment. Both markets are projected to grow rapidly, with key players like Amazon, Google, and Bose leading the innovation in smart and multimedia speaker technologies.

Research Analysis

Speakers are electronic devices that convert electrical signals into sound waves. They function as transducers, vibrating to produce audible sound. Speakers play a crucial role in various applications, including home entertainment systems, public address systems, telecommunications, and the professional speaker market. In the home, they come in various forms such as multi-room streaming speakers, sound bars, and even wireless-based audio devices like headphones and smartphones. In the pro-AV industry, they are used in sporting events, stadiums, and other large venues for communication purposes. Speakers can be analog or digital, and the market includes a wide range of products from microphones to tablets and laptops. Audio technology continues to evolve, with new innovations in wireless-based audio devices and cabling solutions constantly emerging.

Market Research Overview

Speakers are electronic devices that convert electrical signals into sound waves. They function as transducers, vibrating to produce audible sound. Speakers are integral to home entertainment systems, public address systems, telecommunications, and multi-room streaming. Smart speakers, wireless, and voice-activated models are popular trends in the market. Frequency, volume, and amplitude are key factors, with stereo sound effects and pairing for enhanced listening experiences. Smart speakers offer integrations with music streaming services, weather, security alerts, and appliance notifications, presenting a revenue-augmenting opportunity. Sound technology advances include wireless capabilities, smart integrations, Bluetooth technology, and Wi-Fi connectivity. Environmental concerns and consumer spending power influence the market, with a growing emphasis on eco-friendly solutions and connected devices. The speaker market encompasses various applications, from home use to commercial settings, and includes smart home technologies, voice assistants, and pro-AV industry solutions. The market is unstable, influenced by digital trends, raw materials, and the music industry’s shift from physical to online revenue streams. Speakers come in various forms, including portable and stationary models, and cater to professional use in industries like pro-AV, sports, and communication purposes. Cabling solutions, sound reinforcement equipment, video conferencing systems, and raw materials also impact the speaker market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductStereo SpeakersSmart SpeakersTechnologyWireless SpeakersWired SpeakersGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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 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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Trainocate Wins Cisco Learning Partner of the Year – APJC for Second Consecutive Year

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BANGALORE, India, Nov. 15, 2024 /PRNewswire/ — Trainocate Holdings, a leading global provider of technology and business training solutions, today announced that it has been awarded the Cisco Learning Partner of the Year 2024 for Asia Pacific, Japan, and China (APJC) for the second year in a row.

This prestigious award recognizes Trainocate’s outstanding performance, commitment to customer success, and dedication to delivering high-quality Cisco training programs across the region.

“To be recognized once was an honour beyond words, but to be bestowed this distinction again is truly humbling and a testament to the unwavering support and encouragement of those who have walked this journey with us,” said Takashi Ozawa, President & CEO of Trainocate Holdings. “We are deeply grateful for everyone who has been a part of our success. This award reflects our core values of collaboration, excellence, and customer centricity, and it inspires us to continue upholding them in everything we do.”

“Receiving the Cisco Learning Partner of the Year award for a second consecutive year is a true reflection of our team’s dedication and our unwavering pursuit of excellence,” said Khor Hee Soo, CTO of Trainocate Holdings, Managing Director for India, and Chairman for Sri Lanka and UAE. “This recognition not only celebrates the hard work of everyone at Trainocate but also reinforces our commitment to empowering individuals and organizations across the APJC region with transformative learning solutions. We are deeply grateful to Cisco for their partnership and look forward to continuing our journey of innovation and impact in the learning and development space.”

During the award ceremony held on 23 October 2024, Cisco highlighted Trainocate’s impressive achievements within the past year, including:

32% of Instructor-Led Training (ILT) seats sold in the APJC region.45% of Cisco U subscriptions sold in the APJC region.Exceptional learner satisfaction on score of 94%.

These accomplishments demonstrate Trainocate’s strong track record of delivering impactful and engaging learning experiences that help professionals achieve their career goals and organizations drive digital transformation.

As a Cisco Platinum Learning Partner, Trainocate offers a comprehensive portfolio of authorized Cisco training courses, certifications, and learning solutions. With over 29 years of experience, Trainocate is a trusted partner for organizations seeking to upskill their workforce and stay ahead of the curve in today’s rapidly evolving technology landscape.

About Trainocate Holdings

Trainocate Holdings is a leading provider of IT and professional training, offering a comprehensive range of courses and certifications across various domains.

Boasting a global presence in 22 countries (and counting!) and a commitment to excellence, Trainocate empowers individuals and organizations to achieve their full potential through continuous learning and development.

With 30+ authorized training partnerships and countless awards from leading technology vendors, you’re guaranteed learning from the industry’s elite when you #GetTrainocated.

For more information, visit Trainocate’s website www.trainocate.com.

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Can Independent Physicians Survive in 2025?

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Learn How at an Exclusive Webinar on Nov. 20th Hosted by Medical Economics and Specialdocs 

CHICAGO, Nov. 14, 2024 /PRNewswire/ — In healthcare change is inevitable, but for independent physicians already facing an uncertain economic forecast in 2025, the prospect of a new administration is sparking even more concern. To help decipher the implications of an ever-evolving regulatory and reimbursement landscape, Medical Economics has teamed up with Terry Bauer, CEO of concierge medicine pioneer Specialdocs Consultants, and Max Reiboldt, Chairman of leading healthcare advisory, Coker, to present an exclusive, informational webinar for physicians on November 20th. Bauer and Reiboldt bring insights gained collectively over more than a century advising physicians on career strategies, to address the headwinds that threaten to topple private medical practices, and explain why concierge medicine offers one of today’s most viable pathways to retaining independence. 

Prominent healthcare industry experts share how physicians can thrive in 2025: join our complimentary webinar on Nov. 20th.

CLICK HERE to register for “2025 Forecast for Physicians: Financial Headwinds, Continued Burnout, and How Concierge Medicine May Be the Cure for What Ails You” at 7 pm CST/8 pm EST on Wednesday, November 20th.

“Now representing just 22% of all practices,1 the independent physician is in danger of disappearing altogether amid unrelenting financial, professional and personal pressures,” says Bauer. “Among other challenges, rising costs to operate a traditional practice and continual cuts to Medicare reimbursements have contributed to an overall 29% downward slide in Medicare compensation over the last two decades.”2

He continues: “Yet we know that a change to our membership medicine model can prove lifesaving, restoring practice sustainability and ushering in a new era of unparalleled career satisfaction. We’ve long championed this solution for physicians in private practice, who have been consistently unappreciated for the very real value they bring to their patients and the health system.” 

Adds Reiboldt: “Physicians in private practice are still a cornerstone of our healthcare system yet are facing challenges that threaten their existence. More and more physicians are affiliating with capital and/or strategic partners, which is not a bad thing but still threatens their independence and private structure.”

A number of crucial issues will be examined during the webinar. “We will approach these with sensitivity as all providers (physicians, health systems, private and public investors, et al) share in both the credit and the blame for our current state of affairs,” says Reiboldt.

Topics will include:

The new administration’s approach to lowering costs, reducing regulatory barriers to consolidation and expanding price transparency mandates for healthcare services.Future use of AI and other technologies to drive greater efficiencies, quality of care.The outlook for primary care providers and programs such as Medicare Advantage, risk-based reimbursement, quality incentives.How upcoming changes in reimbursement and regulations impact the financial viability of traditional practices.Strategies for maintaining or regaining independence as a practitioner; concierge medicine as a model offering sustainable financial security and work-life balance.

About Our Speakers

Terry Bauer is CEO of Specialdocs Consultants. With more than three decades of healthcare leadership experience, Terry has a reputation for bringing about positive change as a strategist, builder, and driver of successful, high-performance companies. Terry’s mission at Specialdocs: to elevate the profile and escalate the growth of this firm that has pioneered the transition from traditional to independent concierge medicine practices, with a focus on expanding the reach and portfolio of high-quality services provided to the company’s growing national network of exceptional physicians. Terry’s career includes a long tenure as co-founder, president, CEO, and director of Orion HealthCorp, a national physician services and management organization. He has served on the board of directors of Specialdocs since Shore Capital Partners invested in the firm in 2015, and became CEO of the company in 2016.

Max Reiboldt, CPA, is Chairman of Coker. His 45 years of work in business and industry, primarily involving healthcare providers, has given him invaluable experience. He handles strategic, tactical, financial, and management issues that health systems, physicians, and other healthcare entities and/or investors face in today’s evolving marketplace. Max understands the nuances of the healthcare industry in a dynamic age, and how healthcare organizations need to maintain viability in a highly competitive market. Whether a transitional provider or a more trailblazing healthcare entity, Max works to provide sound solutions to everyday and long-range challenges with a hands-on approach much valued by his clients. Max oversees Coker’s services as part of the Executive Committee, and maintains his passion for working with clients and organizations of all sizes.

Physician’s Advocacy Institute reportAMA 2024 Medicare Updates

Media Contact:
Mindy Kolof
mkolof@specialdocs.com 
8479213271

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Rokid Glasses: Where AI Meets AR, Rivaling Meta’s Ray-Ban in an Exclusive Unveiling at Rokid Jungle 2024

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REDWOOD CITY, Calif., Nov. 14, 2024 /PRNewswire/ — Rokid is poised to unveil its groundbreaking next-generation smart glasses, the Rokid Glasses, at the highly anticipated Rokid Jungle 2024 event, set to take place on 18 November in Hangzhou, China. Seamlessly integrating cutting-edge artificial intelligence with augmented reality, Rokid Glasses represent the pinnacle of innovation. As the most eagerly awaited event in the augmented reality calendar, Rokid Jungle 2024 is destined to be the largest and most consequential gathering of its kind on the global stage. With an impressive turnout expected of over 1,000 distinguished attendees, the event will serve as a landmark occasion, bringing together partners, visionaries, and industry leaders. The launch of the Rokid Glasses promises to elevate the smart daily experience to unprecedented heights, setting new standards in the realm of wearable technology.

Rokid Glasses: Transforming AI and AR into an Essential Daily Gadget for All
Rokid Glasses combine style, comfort, and lightweight design with intuitive, AI-powered features. Integrated with Alibaba’s Tongyi Qianwen AI, Rokid Glasses offer a range of capabilities, including object recognition, text translation, and even solving complex math problems. It can calculate the calorie content of food or provide real-time language translation, making it an indispensable tool for travelers.

Empowered by Zhi Xiaobao, Alibaba’s AI assistant, Rokid Glasses allow users to take full control of their world with simple voice commands, whether booking a ride or ordering a coffee. The advanced voiceprint recognition technology also facilitates secure payments via Alipay, ensuring a seamless and trusted connection to the user’s phone. Alipay’s cutting-edge AI audio detection technology guarantees top-tier security and fraud prevention during transactions.

A standout feature of Rokid Glasses is the ability to view message notifications directly through the glasses, effectively replacing the need for a phone screen. This functionality hints at a future where Rokid Glasses may evolve into a central hub of daily life, potentially replacing smartphones altogether as an essential tech gadget. “We’ve crafted our new glasses to redefine the user experience, bringing the world’s first AI+AR glasses to daily life,” says Misa Zhu, Founder and CEO of Rokid. “Our mission is to make high-quality AI+AR glasses accessible to everyone, and this launch marks a bold step in that direction.” True to Rokid’s ethos of Leave Nobody Behind, the Rokid Glasses bridge gaps in accessibility, usability, and comfort, ensuring that everyone can experience the transformative power of innovation.

Rokid’s Role to Impact Global Tech Arena and Its Commitments for leading AR Industry
Rokid is making significant strides in transforming the museum experience using augmented reality (AR) technology to enhance visitor engagement. By providing immersive, interactive experiences, Rokid brings historical artifacts and exhibitions to life in exciting new ways. With over 2.5 million users benefiting from its AR glasses and more than 300,000 of these users have made actual purchases and are actively engaged with the devices. Even more striking is the fact that Rokid users spend an average of 2 hours and 45 minutes daily with Rokid glasses—this not only underscores the strong appeal of Rokid’s products but also reflects the growing consumer interest in and adoption of augmented reality technology.

Rokid’s ecosystem continues to flourish, with over 6,200 registered developers, highlighting the company’s significant progress in cultivating an open and thriving ecosystem. As the race in augmented reality heats up, major players are competing for dominance in this rapidly evolving space. With AR technology expanding its global footprint, the question remains: who will emerge as the true leader in the AR industry? While the collaboration between Ray-Ban and Meta has brought new energy to the smart glasses market, Meta continues to face challenges. Despite a decade of investment in XR, VR, and AR, Meta has made strides with VR hardware like the Meta Quest but still struggles with slow user adoption and limited AR functionality.

Rokid Jungle 2024: A Decade of Breaking Boundaries in Augmented Reality
Rokid Jungle 2024 commemorates a significant milestone: Rokid’s 10th anniversary and the beginning of the next decade of AR innovation. From its founding in 2014, Rokid has maintained a relentless focus on human-computer interaction, driving the evolution of AR technology through unwavering dedication to innovation. From setting industry standards with the original Rokid Glass to the highly regarded consumer product Rokid Air, and now with the trendsetting AR Studio and AR Lite, Rokid has played a key role in propelling the AR industry forward.

With the launch of the latest Rokid Glasses, the company reaffirms its leadership in the new wave of AR technological innovation. To mark this remarkable milestone, Rokid is delighted to offer a $20 benefit on all purchases made via the official website, using the code ROKID10 at checkout. Looking ahead, Rokid is thrilled to showcase its innovations at CES 2025, where will continue to lead the charge in AR technology. Rokid looks forward to seeing you there and sharing the next chapter of this exciting journey.

Email: pr@rokid.com
Rokid Official Website https://global.rokid.com/

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