Connect with us

Technology

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

Published

on

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..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

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. 

Discover 360° analysis of this market. For complete information, schedule your consultation- Book Here!

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/

View original content to download multimedia:https://www.prnewswire.com/news-releases/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-302221334.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Where’s the Best Deal on the Block? Realtor.com® Launches Dynamic Map Layers to Help Homebuyers Find It and So Much More

Published

on

By

Homebuyers can now visualize hyperlocal insights and broader neighborhood trends to find their perfect home

SANTA CLARA, Calif., Sept. 24, 2024 /PRNewswire/ — Today, Realtor.com® announced the launch of dynamic map layers, a set of new map-based search features that allow users to answer classic home-buying questions like “Is this house the best deal on the street?” and “Where can I find the newest homes in a neighborhood?” or “Where are houses selling for a lower price per sqft.?” Now, users can explore multiple ZIP codes and neighborhoods with one quick glance and use this information to find the home they want.

Dynamic map layers deliver a unique zoom and pan experience that shows real-time visualizations of property data and neighborhood insights all in one map. When applied, each layer illustrates search parameters through color shading that represents aggregated data including market trends for a specific area. The shading dynamically adjusts to the property level as the user zooms in, and gets broader as they zoom out, adapting to highlight different data at each zoom level. Users can apply different map layers and access unique Realtor.com® econometric data, like market hotness, to find the best home options based on what they’re looking for.

“Do you remember when you bought your first smartphone and how it completely changed how you use a phone? Dynamic map layers are going to change how people search for homes online,” said Mausam Bhatt, Chief Product and Technology Officer, Realtor.com®. “They are an entirely new pathway to home discovery that allows buyers to answer their most pressing questions with a look at a map. They present data in an interactive way that is easy to use, easy to understand, and easy to make the most informed decisions with – so users can confidently choose the place they call home.”

Seventy-one percent of real estate website/app users think that more visual or map-based features could help them learn more about properties and compare homes more easily, according to a recent survey conducted by Realtor.com®. Ninety percent stated they would value being able to search for “home size” and “home value” via a map on a real estate search sites.

Whether it’s someone with a limited budget searching for the best buy in a specific area; a buyer who wants to understand the market competition of a home in order to make the best offer; or, a buyer who is comparing multiple neighborhoods so they can decide where to invest, Realtor.com® users can dive deeper and explore homes with the following layer options:

Home Estimate – the home’s current estimated value, powered by RealEstimatesmEstimate/ sqft. – the home’s current estimate total value divided by its total square footage, powered by RealEstimatesmLot Size – the property’s parcel size as measured in acresLot Slope – the property parcel’s average lot slopeHome Size – the size of the home measured in sqft.Year Built – the year the home was builtMarket Hotness – an index from 1-100 (very cool to very hot) indicating how quickly homes sell and the level of buyer demandSold Price vs. List Price – the sold price shown as a percentage of the original list price (based on properties sold in the last year)Sold Price/ sqft. – the home’s most recent sale price divided by its total square footageDays on Market – the time it takes properties to sell (based on properties sold in the last year)Neighborhood – display neighborhood boundaries and access details on the number of homes on the market, the median number of days homes spend on the market and the median list price within a neighborhood

Dynamic map layers offer unparalleled data visualization with dynamic zoom and pan functionality. By using these layers, users can get an equally holistic and granular view of a home’s characteristics and a neighborhood’s attributes.

About Realtor.com®
Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today’s on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.

Media Contact
Asees Singh press@realtor.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/wheres-the-best-deal-on-the-block-realtorcom-launches-dynamic-map-layers-to-help-homebuyers-find-it-and-so-much-more-302256178.html

SOURCE realtor.com

Continue Reading

Technology

Socket Mobile Announces CaptureSDK Support for iOS 18

Published

on

By

FREMONT, Calif., Sept. 24, 2024 /PRNewswire/ — Socket Mobile, Inc. (NASDAQ: SCKT), a leading provider of data capture and delivery solutions designed to enhance workplace productivity, is excited to announce that CaptureSDK and its entire line of barcode scanners and NFC reader/writers have been thoroughly tested and have achieved full compatibility with iOS 18.

iOS 18 compatibility across the entire Socket Mobile product line ensures that Apple users can maximize the utility of both their Socket Mobile data readers and their Bluetooth-paired Apple iPhones or iPads. CaptureSDK’s support for iOS 18 means that business applications continue to run smoothly on Apple’s latest platform, offering stability, efficiency, and access to the newest features. Users can seamlessly integrate the latest Apple advancements into their workflow and expect optimal performance from both devices.

“Socket Mobile has a strong track record of maintaining compatibility with Apple’s latest advancements and is devoted to supporting our app developer partners. We strive to provide ultimate device compatibility and best-in-class development tools,” said Dave Holmes, Chief Business Officer at Socket Mobile. “With iOS 18 support added to CaptureSDK, all users of our data capture devices can stay current with Apple’s latest technology while discovering new ways to leverage the power and versatility of our barcode scanners and NFC reader/writers.

“To ensure compatibility and to take full advantage of the features offered by our barcode scanners and NFC reader/writers, app development partners only need to upgrade their apps to the latest version of CaptureSDK whenever new updates are released. Our world-class support team is always available to ensure that their data capture solutions continue to work seamlessly. Combined with the quality of our products and dedicated support, this makes Socket Mobile’s CaptureSDK, along with our scanners and readers, an excellent choice for Apple device users.”

CaptureSDK has been integrated into thousands of applications and gives app providers reliable and consistent data capture performance, enabling their apps to efficiently capture data in the physical world. With CaptureSDK, app providers can maximize the value of their solution and increase their customer’s overall productivity and satisfaction. With CaptureSDK-enabled apps, end-users can interchange any of Socket Mobile’s data capture devices, resulting in the freedom to choose the best reader for each customer’s requirements at any given time. With iOS 18 compatibility, Socket’s CaptureSDK delivers a new level of control and adaptability for iOS app developers.

iOS compatibility will always be a focus for Socket Mobile as Apple continues to roll out new updates for its customers.

Learn More About CaptureSDK

Media Contact: David Holmes, David.holmes@socketmobile.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/socket-mobile-announces-capturesdk-support-for-ios-18-302256524.html

SOURCE Socket Mobile, Inc.

Continue Reading

Technology

JinkoSolar Unveils its First Climate White Paper at 2024 New York Climate Week

Published

on

By

SHANGRAO, China, Sept. 24, 2024 /PRNewswire/ — JinkoSolar Holding Co., Ltd. (the “Company,” or “JinkoSolar”) (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced its principle operating subsidiary Jinko Solar Co., Ltd.’s participation in the 2024 New York Climate Week, where we officially launch the English version of our first Climate White Paper*. This comprehensive report outlines our commitment to sustainability, innovative strategies to reduce carbon emissions, and actionable steps for creating a greener, more resilient future.

As one of the leading voices in the fight against climate change, JinkoSolar has long been dedicated to aligning its operations with global climate goals. The new White Paper not only highlights the progress we’ve made, but also identifies new opportunities in both the PV and BESS sectors to collaborate across industries to accelerate decarbonization and enhance sustainability efforts.

Meanwhile, Jinko Solar Co., Ltd. as a member of the Board of Directors of the Global Solar Council, is honored to be part of the Finance Roundtable and, together with the Global Solar Council, co-hosting the discussion for lowering solar PV cost. This roundtable brings together development and commercial banks, industry experts, policymakers, and business leaders in shaping the future of climate action. Our active participation underscores our firm belief that addressing the climate crisis requires bold and decisive action together with financial players.

JinkoSolar looks forward to continuing its leadership in the bankability and sustainability space and to driving meaningful change in the global effort to combat climate change.

*Note: Disclosed information in the report covers our principal operating subsidiary Jinko Solar Co., Ltd. and its subsidiaries. The report is available on the Company’s website at https://www.jinkosolar.com/en/site/responsibility.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to utility-scale, commercial and residential customers in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, Greece and other countries and regions. 

JinkoSolar had over 10 productions facilities globally, over 20 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, Brazil, Chile, Australia, Canada, Malaysia, the United Arab Emirates, Denmark, Indonesia, Nigeria and Saudi Arabia, and a global sales network with sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of June 30, 2024.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and the Company’s operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:
Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: pr@jinkosolar.com

View original content:https://www.prnewswire.com/news-releases/jinkosolar-unveils-its-first-climate-white-paper-at-2024-new-york-climate-week-302256888.html

SOURCE JinkoSolar Holding Co., Ltd.

Continue Reading

Trending