Speaker

Speaker

Global Speakers Market to Reach $247.7 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Speakers estimated at US$50.2 Billion in the year 2020, is projected to reach a revised size of US$247.7 Billion by 2027, growing at a CAGR of 25.6% over the analysis period 2020-2027. True Wireless Stereo, one of the segments analyzed in the report, is projected to record a 30.1% CAGR and reach US$126.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Smart Speakers segment is readjusted to a revised 24.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $13.9 Billion, While China is Forecast to Grow at 34.4% CAGR

The Speakers market in the U.S. is estimated at US$13.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$64.7 Billion by the year 2027 trailing a CAGR of 35% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 20.4% and 22.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 21.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$36.1 Billion by the year 2027.

Home Audio Speakers Segment to Record 18.8% CAGR

In the global Home Audio Speakers segment, USA, Canada, Japan, China and Europe will drive the 18.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$8 Billion in the year 2020 will reach a projected size of US$25.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 19.1% CAGR through the analysis period.

Select Competitors (Total 46 Featured) -

• Alibaba Group Holding Ltd.
• Amazon.com, Inc.
• Apple, Inc.
• Baidu, Inc.
• Bose Corporation
• Google LLC
• Plantronics, Inc.
• Samsung Electronics Co., Ltd.
• Sonos, Inc.
• Xiaomi, Inc.

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