2015/09/08 Wireless Connectivity Driving the $10 billion Global Home Audio Market, says Strategy Analytics

Wireless Speakers and Soundbars are two of the fastest growing CE categories today.

Boston, MA - September 2nd, 2015. Consumer demand for Wireless Audio products that come with built-in Bluetooth and/or Wi-Fi is being driven by a desire to wirelessly play music sourced from a portable device such as a smartphone or tablet on a loudspeaker located either in or outside the home. This trend is reshaping the Home Audio market as Wireless Speakers and Soundbars grow at the expense of Docking Stations and more traditional audio solutions such as AV Receivers and Integrated HiFi Systems.

The Strategy Analytics Connected Home Devices (CHD) report “Connected CE Devices Market Forecast: GLOBAL 2009-2019”, provides detailed volume and value forecasts across 21 key Consumer Electronics product categories spanning TV and Video, Game Consoles, Audio and Computing.

Click here for the report: http://sa-link.cc/NQ

Other key findings from the report include:

·         Home Audio device shipments including Integrated HiFi Systems, AV Receivers, Docking Stations, Wireless Speakers and Soundbars will exceed 80 million units globally in 2015 from just over 70 million in 2014.

·         Wireless Speakers will account for close to 50% of all Home Audio shipments in 2015. Bluetooth only speakers dominate with around 65% share of sales although the number of Wi-Fi and Wi-Fi/Bluetooth models is expanding as interest in multi-room audio grows.

·         Global shipments of Soundbars will grow 36% in 2015 to reach 15 million units as TV manufacturers and audio specialists add new products and features to their line up.

Quotes:

David Watkins, Service Director, Connected Home Devices, said, “After a number of years in the wilderness, Home Audio has become a focal point for the Consumer Electronics industry once again thanks to the burgeoning demand for wirelessly connected, smart audio products and we are expecting to see a flood of Bluetooth and Wi-Fi enabled speakers and soundbars at IFA 2015 this week.” He added, “Wi-Fi based multi-room audio is another bright spot for the industry despite such functionality being included in less than 10% of audio hardware sales. Sonos has been the long-time leader in this sub-segment of the market but growing competition from hardware manufacturers such as Samsung, LG, Panasonic, Bose and Yamaha as well as technology vendors DTS, Qualcomm and Imagination Technologies will certainly help grow the market beyond its current niche.”
Source: Strategy Analytics