Audio Market Intelligence Update March 2021 - Positive Stats and Look Ahead

Every day at audioXpress we look carefully at market intelligence updates from the leading research firms, and we normally look at data-based reports from multiple sources, trying to get a clear vision of what is happening in the markets, and how forecasts look for the audio industry. audioXpress is focused on serving the audio industry, and we are more interested in providing market intelligence than publishing subjective opinions about the measurement systems used by YouTube headphone reviewers - which seems to be the latest focus even for many competent audio publications these days.

With a slightly more conservative forecast than some published reports from other market research firms, Canalys expects the global smart speaker market, including smart displays, to reach 163 million units in 2021, characterized as a growth of 21%. In 2020, Mainland China, which has the COVID-19 pandemic relatively under control, will lead, growing 16%, while the rest of the global market is expected to grow 3% as countries continue to battle the coronavirus.

Futuresource Consulting is putting together another edition of the company's renowned Audio Collaborative event, which for 2020 will be shifting to an all-virtual experience. With health and safety being of prime importance during the coronavirus outbreak, Futuresource must ensure all co-workers, exhibitors, thought leaders and attendees feel at ease to best experience and deliver the range of fascinating topics lined up. Wednesday 4th and Thursday 5th of November, from 14:00 – 18:00 GMT, Audio Collaborative 2020 will be more global than ever.

The CE Team at Futuresource Consulting shared some key topics and trends from its latest Global Home Audio Report, revealing how home audio products have returned to strength in Q2 2020. Global home audio products posted an unexpected strong performance in Q2 2020, delivering 20% shipment growth and 10% value growth quarter-on-quarter, according to preliminary results from Futuresource Consulting’s latest quarterly tracker. APAC leads the way, with North America and Western Europe in recovery.

Parks Associates is predicting that headphones and earphones are likely to experience sales spikes with the world changing to Work at Home, Home Schooling, and Entertainment-In-Place. The company's research highlights the need for enhanced user experience to aid with device integration as audio market shifts from whole-room home theater systems to standalone connected devices. Podcast, music, and news consumption habits are also changing as a result of the current public health crisis with COVID-19.

Triton Digital, the digital audio technology and advertising company which continuously monitors user behavior and media consumption in the U.S., released new data around both AM/FM streams and station formats during the COVID-19 disruption, from March 6th through March 19th. Triton and Edison Research also recently published The Infinite Dial 2020 report identifying interesting trends in the use of smart speakers, voice assistants, streaming services and podcasts.