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ELECTRONICS & SMART DEVICES

Expandable Speakers Market By Durability (Rugged & Non-Rugged); By Application (Music Players, Home Theatres, Personal Computers & Others); By Channel Output (<3 Channel, 3-7 Channel & >7 Channel); By Connectivity (Bluetooth & Wi-Fi); By Type (Portable & Non-Portable) – Global Demand Analysis & Opportunity Outlook 2020-2027

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Extensive insights into the Growth of Expandable Speakers Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Introductory Overview

Expandable speakers are described as those speakers that are connected to devices fitted with bluetooth wireless connectivity by pairing with any smart phone or tablets or even a computer. A bluetooth connection performs the function of setting up a one-to-one link between the source device and the speaker, by which data is transmitted. Wireless speakers can be connected to devices using Bluetooth, Wi-Fi or both.  These speakers either have to be plugged in or must run using a battery.      

Market Size and Forecast

Some of the factors that are likely to propel the growth of the market are growing use of voice assistant for search by consumers globally. Additionally, the option of keeping the speakers without any problem of tripping on wires, the portability option and the powerful audio offered by these products is driving the demand for these expandable speakers, thereby contributing to the growth of the market. 

The expandable speakers market is anticipated to achieve significant market size over the forecast period i.e. 2020-2027. The market is segmented by durability, by application, by channel, by connectivity and by type.

Expandable Speakers market Graph

Growth Drivers

Wireless Streaming For Audio

The expandable speakers possess the ability to control music covering a larger area. Apart from that, they provide better sound quality and they possess the ability to offer smart home controls.

Utility Of Expandable Speakers For Multiple Purposes

Expandable speakers are used for several purposes such as obtaining news related updates including entertainment and sports news among other verticals.

Portability

The expandable speakers market is predicted to achieve significant growth, owing to the availability of speakers that are portable apart from wall fitted speakers. The advantage of carrying the speakers, wherever an individual travels has provided convenience to individuals, as they can fit into their bags and hence are considered popular, thereby driving the demand for such products. These factors are significantly contributing to the growth of the market. DOWNLOAD SAMPLE REPORT HERE

Rising Disposable Incomes Of Individuals

The rise in disposable incomes of the growing population in all regions has led to increased adoption of devices that can be controlled with the help of smart devices. This is contributing to increased demand for the speakers, thereby aiding the growth of the market. According to OECD (Organisation for Economic Co-operation and Development), in 2017, the net annual growth rate in terms of household disposable income in United States was 2.3%, whereas, Canada witnessed 3.6%. The highest growth rate was recorded in Costa Rica (7.4%).

Restraints

There are some limitations associated with usage of expandable speakers, as they are priced comparatively higher and must also be connected to a power source. There can be issues of signals dropping frequently which could negatively impact the listening experience. Unlike wired speakers that can take up considerable information in the form of electric signals, wireless signals may lag behind in terms of performance. Apart from that, data security could be a major concern that could restrain the growth of the market over the forecast period.

Market Segmentation

Our-in depth analysis of the global expandable speakers market includes the following segments:

By Durability

  • Rugged
  • Non-rugged

By Application

  • Music Players
  • Home Theatres
  • Personal Computers
  • Others

By Channel Output

  • < 3 channel
  • 3-7 channel
  • > 7 channel

By Connectivity

  • Bluetooth
  • Wi-Fi

By Type

  • Portable
  • Non-Portable

By Region

On the basis of regional analysis, the expandable speakers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

Among these regions, the market in North American region is predicted to hold the largest share owing to the presence of leading manufacturers of expandable speakers coupled with higher disposable incomes of the population. United States witnessed its Disposable Personal Income touching an all-time high by crossing USD 16,350 Billion during July 2019.

The market in Asia Pacific region is anticipated to witness highest growth rate owing to rising urban population with a desire to own smart and internet-connected devices in the region.

The expandable speakers market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC,  Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Top Featured Companies Dominating the Market

  • POW Audio, Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Amazon.com, Inc.
  • Google, Inc.
  • Philips
  • Panasonic
  • LG Electronics
  • Bose Corporation
  • Polk Audio
  • Harman International
  • Sonos One

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