Impact of Smart Tech in the Sound Reinforcement Industry - Arizton

CHICAGO, Sept. 20, 2021 /PRNewswire/ -- The music industry is ever-growing due to the increasing reach of various streaming services such as Apple Music, Pandora, and Spotify, among others. The music industry is witnessing a trend where consumers are shifting from physical media to streaming and digital media. Bluetooth speakers are one of the most used audio devices for streaming music worldwide. With the introduction of music streaming services, the demand for Bluetooth speakers is expected to witness a significant rise in demand during the forecast period. Arizton has a dedicated product vertical that focuses on the smart tech across geographies. These market research reports cover detailed analysis of the COVID-19-induced supply chain disruptions, innovations in technology, equipment financing, economic impact, and detailed study of the competitive landscape. Arizton's approach includes the key highlights of the market such as trends and driver analysis, market share analysis, growth opportunities, and the impact of government initiatives in the smart tech.

1.  Wireless Speaker Market - Global Outlook and Forecast 2021-2026

The global wireless speaker market is expected to reach USD 63.38 billion by 2026. The future of the global wireless speaker market is promising, as end-users are becoming aware of the product concepts and vendors are introducing new models as per the consumer's lifestyle and choices. For instance, Bose Corporation offers Bluetooth devices under the brand SoundLink. The innovative outlook of the company will help it to maintain its topmost position in the Bluetooth speaker market. HARMAN International (JBL) offers a wide variety of wireless Bluetooth speakers targeted at portability and wireless home audio.

Key Highlights:

• The global multi-room Wi-Fi speaker market was valued at USD 17.37 billion in 2020 and is expected to reach USD 43.84 billion by 2026, growing at a CAGR of 16.69%.
• Voice assistants are witnessing exponential growth in other industries such as healthcare and banking, paving new opportunities for players in the global wireless speaker market.
• Several international players in the wireless speaker market are expected to expand their presence worldwide during the forecast period, especially in fast-developing countries of APAC and Latin America to gain more market share.
• AI voice interaction is the next big thing in the global wireless speaker market.

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