Home audio market: 'It's all about the voice'

January 19, 2017 //By Peter Clarke
The global market for home audio equipment was worth $19.5 billion in 2016, thanks to launches by Amazon, Google, and Apple, according to market research company, SAR Insight Ltd.

This was a year-on-year growth of 16 percent and this will continue to increase with voice command technologies entering the product category.

The market includes mobile speakers, sound bars and wireless multi-room speakers which are all projected to grow significantly over the next five years. In 2016, global mobile speaker revenues were worth an estimated $9.4 billion. Some 12 million wireless multi-room speakers were shipped globally in 2016, equating to a total market value of $3.3 billion and the sound bar market was worth $5 billion.

"Any person attending CES this year will no doubt mention the prominence of Amazon’s proprietary voice command technology, Alexa. Already, Lenovo, Jam Audio, iHome, Play-Fi and Monster have introduced a new home audio speakers at CES 2017, which include Alexa," said analyst Joshua Flood, in a statement.

www.sensianresearch.com

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