Research Nester has released its report titled “Expandable Speakers Market: Global Demand Analysis & Opportunity Outlook 2020-2027” that delivers detailed overview of the global expandable speakers market in terms of market segmentation by durability, by application, by channel, by connectivity, by type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
According to UN (United Nations), the Global Urban Population in 2018 was 55%, which is Further Anticipated to Increase to 68% by 2050, out of which, Asia and Africa are anticipated to witness around 90% of the increase, collectively.
The expandable speakers market is estimated to attain a decent CAGR over the forecast period i.e. 2020-2027 owing to the growing desire among individuals to own devices that perform multiple functions and provide comfort to the user. Some of the factors that are likely to drive the demand for expandable speakers are the multiple utility features of these products, such as portability as they can be carried by individuals along with them while traveling. The growing incomes of individuals across various regions accompanied by their desire to own devices that are connected to internet is also contributing to the growth of the market. Apart from that, the demand from various individuals for wireless audio streaming that can cover larger area is significantly supporting the growth of the market.
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The expandable speakers market is segmented by durability, application, channel, connectivity and type. On the basis of type, the market is further bifurcated into portable and non-portable speakers, out of which, the portable segment is anticipated to register a higher market share owing to the nature of its use and the convenience among the users to carry the speakers wherever they go. Based on durability, the market is segmented into rugged and non-rugged. Among these segments, the rugged ones are highly preferred owing to the rough usage of the product which has the ability to withstand rough handling or tough weather.
On the basis of geography, the global expandable speakers market is segmented into five major regions comprising of North America, Latin America, Europe, Asia Pacific and Middle East & Africa, out of which, the market in Asia Pacific is anticipated to grow at a robust CAGR during the forecast period. The growth of the market can be attributed to rising rate of urban population with a desire to own smart and internet connected devices. The expandable speakers market in North America is estimated to hold highest share owing to the presence of leading key players dealing in expandable speakers along with higher disposable income of the population in the region.
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However, high cost and limitations pertaining to the frequent dropping of signals affecting the listening experience among users is estimated to hinder the growth of the market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global expandable speakers market which includes company profiling of key companies such as POW Audio Inc., Amazon.com Inc., Google Inc., Philips, Panasonic, LG Electronics, Bose Corporation, Polk Audio, Harman International and Sonos One.The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global expandable speakers market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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