About WiFi Wireless Speaker
WiFi speaker receives its input from radiofrequency waves. They are composed of two units, the main speaker unit and the RF transmitter. More and more people preferring WiFi speakers over traditional speakers because of the convenience it offers. With increased demand companies are now taking advantage of economies of scale and are bringing prices down quite a bit. As these speakers offer portability they can also be used on the go and can be used without power plugged in
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The industry faces cut-throat competition as the number of players present in the market is huge. Apart from few market leaders, consumers do not have brand loyalty. The use of new technology like active noise cancellation, low latency mode is now in demand from consumers. There are no major barriers to entry into the market. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global WiFi Wireless Speaker market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Apple (United States), Sony (Japan), Bose (United States), Boat (India), Xiaomi (China), Harman (United States), Sennheiser Electronic GmbH & Co. KG (Germany), Amazon (United States), Mivi (India) and Philips (Netherlands) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global WiFi Wireless Speaker market by Type (Smart Speaker and Non-smart Speaker), Application (Personal Use and Commercial Use) and Region.
On the basis of geography, the market of WiFi Wireless Speaker has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the WiFi Wireless Speaker market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Product, the sub-segment i.e. Speaker will boost the WiFi Wireless Speaker market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Introduction of Noise Cancellation Features in the WiFi Wireless Speaker
Market Growth Drivers:
Rising Digitalization and Advancements in Consumer Electronics and Increasing Demand for the Portable Speakers
Challenges:
Increasing Duplicate WiFi Wireless Speaker in the Market and Steep Competition from Local as Well as Global Players of WiFi Wireless Speaker
Restraints:
Wifi Speakers Do Not Offer as Good Sound Quality as Conventional Speaker
Opportunities:
Surging Demand for WiFi Wireless Speaker from Emerging Economies Like China and India and Cost-Effectiveness of WiFi Speakers
Market Leaders and their expansionary development strategies
In August 2023, Apple a strategic partnership or acquisition of ESPN, which potentially align with the company's .
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, WiFi Wireless Speaker Manufacturers, Suppliers, and Distributors, Government Regulatory and Research Organizations, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.