Global Powered Speakers Market Size By Product (Wireless Powered Speakers, Wired Powered Speakers), By Application (Commercial, Household), By Geographic Scope And Forecast

Powered Speakers Market Size And Forecast

Powered Speakers Market size is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the year 2021-2028.

The important factor driving the growth of the Powered Speakers Market is the demand for wireless streaming of audio content. Wireless speakers such as smart speakers, Bluetooth speakers, and portable speakers are small in size and occupy more limited space compared with home theatre speakers. The Global Powered Speakers Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Powered Speakers Market Definition

The powered speakers are a loudspeaker with a built-in amplifier. Powered speakers are majorly used because they only need an AC power source if they are wireless (Wi-Fi or Bluetooth). If battery-powered, there is no wiring required. Powered speakers may also use cables wired to a receiver’s pre-amp outputs, and some speakers can hook directly into the network via Ethernet. Powered speakers are used in a range of settings, including in sound reinforcement systems (used at live music concerts), both for the main speakers facing the audience and the monitor speakers facing the performers by DJs performing at dance events and raves, in private homes as part of hi-fi or home cinema audio systems and as computer speakers.

They can be connected directly to a mixing console or other low-level audio signal sources without the need for an external amplifier. Some powered speakers designed for sound reinforcement systems use have an onboard mixing console and microphone preamplifier, which enables microphones to be connected directly to the speaker. An accurate balance among volume, frequency, and amplitude creates a speaker good or bad. The frequency defines the truthfulness of the sound of musical instruments such as drums, guitar, and so on. To create a stereo sound effect javelins normally come with a pair or more speakers.

There are two significant types of powered speakers i.e Wired and Wireless speakers. Wired speakers are used where there is a more extraordinary priority for more vibrant tones and more audio amplifying options. Wireless speakers are used where there is a preference for portability and using a more comprehensive spectrum of connecting devices such as Bluetooth, NFC, and WIFI. Speakers usually come in pairs, which allows them to compose stereo sound.

Global Powered Speakers Market Overview

The rise in disposable income acts as a primary growth driver in the Global Powered Speakers Market. The important factor driving the growth of the Powered Speakers Market is the demand for wireless streaming of audio content. Wireless speakers such as smart speakers, Bluetooth speakers, and portable speakers are small in size and occupy more limited space compared with home theatre speakers. Most portable devices such as laptops, smartphones, and tablets are implemented with Wi-Fi and Bluetooth chips, which allow speakers to run audio content wirelessly.

The merchants are also propelling smart speakers and portable speakers, which contribute to its growth significantly over the forecast period. The wireless speakers use an audio format that doesn’t provide the same rich sound when compared to a wired speaker. Besides, research is expected to develop wireless audio transmission for loud sounds. Furthermore, advancements in AI virtual assistant technologies and improvements in battery technologies augment the growth of the Global Powered Speakers Market. Moreover, with the use of the smart powered speaker, the privacy of user’s data becomes a significant issue for consumer demand.

Moreover, due to the unusual coronavirus outbreak, the production and supply chain procedures have been halted. Besides, the research and development (R&D) exercises of key players have been halted across the globe. The sale of speakers has been decreased during the Covid-19 outbreak due to the operational constraints on sales channels such as specialty stores and e-commerce platforms. Furthermore, several producing firms have restarted their plans and prepared to owe to the rest imposed on the restrictions, by the government bodies, in several regions.

Global Powered Speakers MarketSegmentation Analysis

The Global Powered Speakers Market is segmented on the basis of Product, Application, And Geography.

Powered Speakers Market, By Product

• Wireless Powered Speakers• Wired Powered Speakers

Based on Product, The market is segmented into Wireless Powered Speakers and Wired Powered Speakers. The Wireless Powered Speakers segment holds the big market share. Wireless Powered Speakers are very easy to install as there is no need to run speaker wires or any type of cables from the receiver to the speakers themselves as they can be added to your existing wireless network within a few seconds.

Powered Speakers Market, By Application

• Commercial• Household

Based on Application, The market is segmented into Commercial and Household. The Commercial segment holds the big market share. Powered Speakers can be used to stream music or sound at restaurants and bars. You can also use it as a part of the P.A system in an event space where there is no other source available like a CD player. In Household, Powered speakers can be used for listening to music and watching movies. Also, they are capable of amplifying sound which is helpful when there is a need for louder volume.

Powered Speakers Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of Regional Analysis, The Global Powered Speakers Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The North American region is expected to witness the highest CAGR during the forecast period. This is primarily due to the rise in disposable income in these countries, and growth in urbanization.

Key Players

The “Global Powered Speakers Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Bose Corporation, Sony, Beats Inc., Harman International, Yamaha Corporation of America, Audiovox Corporation, Pioneer, Logitech, SYNNEX Corporation, Sonos, Inc.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In March 2021, Sonos introduced its latest speaker, the Sonos Roam, the company’s first fully portable Bluetooth speaker that doubles as a full-fledged member of a Sonos system when within reach of a home Wi-fi network.

• In October 2020, SYNNEX Corporation announced a strategic agreement with Bose Professional to offer its suite of Bose Work solutions. This agreement brings a new, exceptionally engineered product line from an industry-leading brand to their customer base when it is most needed.

• In April 2020, Harman launched its first eco-friendly portable Bluetooth speaker. The JBL Flip 5 Eco edition, the company’s first portable Bluetooth speaker, was 90% recycled plastic. The Flip 5 Eco comes in Ocean Blue and Forest green, and the special edition speakers are packaged in eco-friendly packaging, including a protective case made of biodegradable materials.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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