In-depth analysis and data-driven insights on the impact of COVID-19 included in this global wireless speaker market report.
The wireless speaker market is expected to grow at a CAGR of around 14% during the period 2020−2026.
Key Highlights Offered in the Report:
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Wireless Speaker Market – Segmentation
Wireless Speaker Market by Connectivity Type
Wireless Speaker Market by End-user Type
Wireless Speaker Market by Distribution Channel Type
Wireless Speaker Market by Product Type
Wireless Speaker Market by Price Range
Wireless Speaker Market – Dynamics
Voice-assistance technology such as Amazon’s Alexa, Microsoft’s Cortana, Apple’s Siri, and Google’s Assistant have potentially disrupted the traditional way of communication between the user and the designer (who used to communicate and converse with the user to understand its needs and create solutions for the same) and has taken the conversation to a new level – communication between the user and the device. In the upcoming days, consumer technology products are estimated to be designed around voice-first interfaces. Voice-first technology is making a significant impact on consumers across the world, especially in developed parts such as the US and other European countries. Moreover, in the current scenario, it is finding its application among the consumers and becoming the mainstream technology to be used in several consumer devices. One such embedment has been observed in various product segments of consumer devices such as speakers.
Key Drivers and Trends fueling Market Growth:
Wireless Speaker Market – Geography
The growing penetration of smartphones is rapidly increasing due to urbanization in the region. This, in turn, has boosted the addressable market for smart speakers. When smartphones were launched, their price premium made them unaffordable for the middle-class population. However, with the availability of budgeted smartphones, high disposable income, and increased purchasing power of the middle-class population, especially in developing countries, the sale of smartphones has increased. APAC is majorly a manufacturing center for several electronic products. The region is witnessing an increase in the expansion of manufacturing industries, which has led to the establishment of new manufacturing plants followed by the implementation and adoption of new technologies by manufacturers.
Wireless Speaker Market by Geography
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