All items tagged with market trends (67)

Global Professional AV Industry Will Decline in 2020; Growth to Resume in 2021

July 16, 2020 by audioXpress Staff

Global Professional AV Industry Will Decline in 2020; Growth to Resume in 2021

The global pro AV industry reached a peak of $259 billion in 2019. Due to the global pandemic, the industry is expected to decline to $239 billion in 2020, according to the new 2020 AV Industry Outlook and Trends Analysis (IOTA) produced by AVIXA, the Audiovisual and Integrated Experience Association. IOTA shows the industry recovering back its pre-COVID levels in 2022 before growing to $315 billion in 2025. This represents a 5.8% five-year compound annual growth rate (CAGR) and will drive industry revenue $56 billion beyond its 2019 level.

Voice-Controlled Portable Speakers to Reach 27 Million Shipments in 2025

June 19, 2020 by audioXpress Staff

Voice-Controlled Portable Speakers to Reach 27 Million Shipments in 2025

Voice-controlled portable speakers are enjoying a moment in the sun, with almost 27 million units expected to ship in 2025, according to the latest research conducted by SAR Insight & Consulting. In its latest in-depth report, ‘Portable Speakers: market growth, technology trends, forecasts and competitive analysis,’ the market research and analysis firm looks closely at the technology trends and consumer behavior that will foster growth in the specific segment.

Global Headphones Market on Track for 27% Value Growth

May 4, 2020 by audioXpress Staff

Global Headphones Market on Track for 27% Value Growth

The Consumer Electronics team at Futuresource Consulting shared the latest key trends from the company's Worldwide Headphone Market Report. Despite the impact of COVID-19, the worldwide headphones aftermarket will enjoy another year of strong growth in 2020. According to new figures released by Futuresource, the category is on track to end the year with a 10% year-on-year increase in volume and 27% in value.

Hearables Predicted to Reach More Than 50% of the Wireless Headphones Market by 2024

April 21, 2020 by audioXpress Staff

Hearables Predicted to Reach More Than 50% of the Wireless Headphones Market by 2024

A new report from Juniper Research says that the number of hearables in-use will grow to more than 970 million by 2024. This is an increase of 270% over the 260 million estimated for 2020. This updated report identifies vendors that are leveraging hearable technology to add value to premium audio products, such as Bose and Sennheiser, while technology companies are producing earbuds that incorporate sensor platforms and AI capabilities. Juniper predicts a convergence of the market towards Multimedia Hearables.

Coronavirus Outbreak Reveals the Weakest Links in the Supply Chain

March 17, 2020 by audioXpress Staff

Coronavirus Outbreak Reveals the Weakest Links in the Supply Chain

For many firms, the outbreak of COVID-19 has meant staff working from home and more use of teleconferencing rather than face to face meetings. However, it's a different situation for manufacturers because, despite investments in automation, reducing the need for staff on assembly lines, they still need staff for most operations, including to receive raw materials. The impact of Coronavirus is both global and unpredictable, and the supply chain shock it is causing will most definitely and substantially cut into the worldwide manufacturing revenue of US$15 trillion currently forecasted for 2020 by ABI Research.

New Record for Smart Speakers As Global Sales Reached 146.9 Million in 2019

February 14, 2020 by audioXpress Staff

New Record for Smart Speakers As Global Sales Reached 146.9 Million in 2019

The global smart speaker market reached a new high in 2019 with sales of 146.9 million units, an increase of 70% on 2018, according to new research from Strategy Analytics. Amazon remained the leading brand with a share of 26.2%, down from 33.7% 2018. Google retained second place with a 20.3% share, also down from 25.9% the previous year. Chinese vendors Baidu, Alibaba and Xiaomi all increased their shares, while Apple remained in sixth place with 4.7%.

September 19, 2019 by audioXpress Staff

AVIXA Research Says AV Systems Integration Industry is Not Overly Concentrated

Extensive mergers and acquisitions (M&A) activity is taking place economy-wide, headlined by deals like the mega-merger of T-Mobile and Sprint. Pro AV shares in this evolution. Twenty-seven percent of AV providers reported that the company they currently work for had acquired, merged with, or been acquired by another company in the previous five years, according to the Macro-Economic Trends Analysis (META) focused on market concentration trends, produced by the Audiovisual and Integrated Experience Association (AVIXA).

Smart Speaker Market to Reach 92 Million Units Shipped in 2019

September 18, 2019 by audioXpress Staff

Smart Speaker Market to Reach 92 Million Units Shipped in 2019

The smart speaker market will grow by 35% this year, according to SAR Insight & Consulting’s Latest Digital Assistant Platform Forecast DATAbase, with shipments reaching 92 million. Amazon remains the market leader, but its smart speaker market share has declined and now represents approximately a third (33%) of the total volume anticipated in 2019. Total voice software unit shipments are expected to increase significantly to 2024.

With Competition Between Streaming Services Intensifying, Hardware Has Become an Important Growth Factor

August 22, 2019 by Futuresource Consulting

With Competition Between Streaming Services Intensifying, Hardware Has Become an Important Growth Factor

After a dynamic few years in the music and audio industries, 2018 and the first half of 2019 have once again been marked by the continuous growth of global music streaming subscriptions, with this momentum expected to continue in the short to medium term. By 2023, Futuresource expects the number of streaming subscriptions to exceed 425 million globally, representing over 90% of total consumer spend on recorded music, according to its latest Streaming Music Outlook & Service overview report.

Smart Speakers Continue to Play a Leading Role in the Home Audio Market

August 14, 2019 by Futuresource Consulting

Smart Speakers Continue to Play a Leading Role in the Home Audio Market

The worldwide home audio hardware market grew 20% last year to reach 154 million units, with a further 19% growth projected in 2019, according to a new market report from Futuresource Consulting. The sector, which includes wireless speakers, soundbars, A/V receivers, Hi-Fi systems and dedicated speaker docks, also witnessed 5% revenue growth last year, with trade values reaching $14.5 billion.

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