DUBLIN, December 06, 2021--(BUSINESS WIRE)--The "Wireless Speakers Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
The global wireless speakers market is expected to grow from $15.03 billion in 2020 to $17.53 billion in 2021 at a compound annual growth rate (CAGR) of 16.6%.
The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $32.71 billion in 2025 at a CAGR of 16.9%.
The interference of signals of wireless speakers with other devices is a major restraint for the wireless speakers market. This is mainly because many wireless devices work on the same radio waves and frequencies as wireless speakers, which increases chances of signal disruption and drop in sound quality.
Dropped signals can affect either the transmitter or the receiver of wireless speakers which affects the listening experience of users. As a result, companies in the wireless speakers market are focusing on ways to implement exclusive connectivity with only a particular device to avoid signal interference, which is increasing the cost of the devices. For example, Apple offers the Airplay speakers that utilize Apple's proprietary wireless multimedia technology and connects only to Apple devices or iTunes, which increases the price of the speaker. However, other vendors have not produced such speakers as their prices tend to be high.
Advanced technologies such as AI-assisted devices are an emerging trend in the wireless speakers market. This is mainly due to ease of use of AI-enabled wireless speakers that provide features such as voice recognition, allowing users to control the functioning of the speakers using voice commands. The wireless speakers based on AI software use cloud which offers a steady base for storage of data and enables quick access to the data. Google Home Max, Amazon Echo Dot 3rd Gen and JBL Link 10 are some of the wireless smart speakers with AI technology.
The increase in preference for portable speakers is an important driver for the wireless speakers market. This is mainly because wireless speakers come at affordable prices and are convenient to use. In addition, increasing smartphone penetration has led to an increase in preference for swift functionality in the form of smart portable devices, resulting in further use of portable wireless speakers.
The Federal Communication Commission (FCC) is an independent agency of the USA government that regulates interstate communications by radio, television, wire, satellite, and cable. The FCC also governs the wireless speakers market in the USA. The wireless speakers' manufacturers are required to get certification to launch their products from the FCC. The wireless speakers undergo required safety testing before receiving the FCC certification. The FCC has also set the bandwidth for wireless devices as 600 MHz, exceeding which results into disqualification of the FCC certification. Hence, the regulations related to interstate communications by radio, television, wire, satellite, and cable by the FCC is expected to maintain a vigil on the companies involved in this market.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The Market Characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
Market segmentations break down market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
VOXX Electronics Corp
For more information about this report visit https://www.researchandmarkets.com/r/c4n84l
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