Speakers - Worldwide

  • Worldwide
  • The revenue generated in the Speakers market worldwide is projected to reach €42.7bn in 2024.
  • This market segment is anticipated to experience an annual growth rate of 5.99% from 2024 to 2028 (CAGR 2024-2028).
  • Among all countries, in China is expected to generate the highest revenue in the Speakers market, reaching €11,360.0m in 2024.
  • When considering the total population, the per person revenue in the Speakers market is estimated to be €5.51 in 2024.
  • Looking ahead, the volume of the Speakers market is forecasted to reach 626.7m pieces by 2028.
  • It is projected that the market will grow by 7.7% in 2025.
  • On average, each person is expected to account for a volume of 0.1pieces in the Speakers market in 2024.
  • The United States has seen a surge in demand for wireless speakers, with consumers prioritizing convenience and portability in their audio devices.

Key regions: Canada, United Kingdom, Germany, Vietnam, China

 
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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on electronic and digital devices used privately either for entertainment (televisions, game consoles, smart speakers, etc.), communication (telephones, smartphones, etc.) or home-office activities (printers, copiers, etc.).

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Global Consumer Survey), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, number of internet users, smartphone penetration rate, household number and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting electronic products due to the non-linear growth of technology adoption and regular product upgrade. The main drivers are GDP per capita, consumer spending per capita, and 5G penetration rate.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). GCS data is reweighted for representativeness.

Overview

  • Revenue
  • Key Players
  • Sales Channels
  • Volume
  • Price
  • Global Comparison
  • Methodology
  • Key Market Indicators
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