Submitted on 03/16/15, 09:48 AM
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Wireless is Redefining the Home Audio Market
The popularity of mobile devices and changing consumer habits in media consumption are not only increasing demand for wirelessly connected audio devices, but also rapidly altering the home audio landscape, according to new research from IHS Technology (NYSE: IHS), the leading global source of critical information and insight.
Annual shipments of connected audio products, including wireless speakers, wireless soundbars, and connected AV receivers, are expected to grow at a compound annual growth rate (CAGR) of 88 percent, from 1.5 million units in 2010 to nearly 66 million units in 2018.
“Growing penetration of tablets and smartphones -- combined with an ongoing shift in consumer media consumption preferences toward those devices and streaming services such as Spotify, Pandora, and Deezer -- are collectively driving a behavioral shift in how people listen to music inside and outside their homes,” said Paul Erickson, senior analyst for IHS Technology. “Consumers are seeking ways to wirelessly play audio from their mobile devices on speakers in the room they’re in, in multiple rooms in a household, and on speakers carried with them while on the go. This geographically diverse need will drive strong global growth in Wi-Fi and Bluetooth connected speakers over the next few years.”
“While the whole wireless speakers category is forecast to grow rapidly, network-connected multi-room speaker systems is the small-but-growing subcategory to watch,” Erickson continued. “Heavyweights Samsung, LG, Sony, Bose, Denon, DTS and Qualcomm are all entering the market, with products or platforms designed to take on a rapidly growing segment initially popularized by Sonos.”
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