Published on : Aug 18, 2017
Albany, New York, August 18, 2017: Over the past few years, the demand for smart audio devices has increased. Considering the recent technological advancements, consumers are willing to spend on smart entertainment devices more than ever. This, coupled with their increasing disposable income, has created an environment conducive to the growth of the global smart audio market.
The report is intended to enable stakeholders have a holistic overview of the global smart audio market, together with exhaustive information on the prevailing market trends. The report therefore covers growth drivers and restraints influencing the market’s trajectory, besides highlighting opportunities, which would enable growth in the forthcoming years. In addition, the market has been segmented based on various criteria to help readers identify the segments demonstrating the most lucrative prospects for the market players.
Against the backdrop of the rate at which technology has evolved in the recent past, wireless audio with Bluetooth speakers have already become easily available in the market. This trend is also indicative of growth witnessed in music streaming in tablets and mobile phones. Besides this, the advent of Wi-Fi enabled devices has helped in creating increased demand for smart audio. Similar to these, various other factors have bode well for the global smart audio market, a comprehensive overview of which is provided in the report.
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In addition, the report identifies potential threats inhibiting the market’s trajectory to an extent. Among the major product categories available in the market, the report forecasts lucrative prospects for home-based smart audio devices. For hearable on the other hand, the market is expected to remain smaller. However, its demand is likely to rise in the fitness arena where features such as noise cancellation and call handling can come handy. Hearable as wearable devices is therefore expected to witness attractive opportunities in the coming years.
On the downside, technological advancement and feature addition in the latest models of smartphones will continue threatening the market through the forecast period. The report discusses in the key restraint in detail and also identifies some of the most lucrative pockets within the global smart audio market to help the market players create informed growth strategies.
Regionally, the global smart audio market has been segmented into the US, China, South Korea, Japan, and Taiwan. Factors influencing the market’s trajectory across these segments are analyzed in detail. To study the prevailing competition, the report profiles some of the companies such as Google, Lenovo, Apple, LG, Sonos, Xiaomi, Microsoft, and others. These companies are studied on the basis of their product portfolio, recent mergers and acquisitions, strategies adopted in the recent past, and their overall financial status.
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