Whether you want to sing, listen to music or a podcast, make your own music, or record a podcast yourself, there is an audio and sound equipment device that will assist you in the task. Audio and sound equipment refers to any electrical device used to play, reproduce, or record sounds, such as turntables, mixers, MP3 players, radios, microphones, and speakers. The market can also include additional product segments such as hi-fi products. Hi-fi stands for “High Fidelity”, a term used to refer to high-quality audio and sound devices that attempt to recreate the original sound as close to reality as possible.
True Wireless on the rise
Headphones and earphones are among the most common audio and sound equipment types globally. The headphone market volume increased in recent years, reaching around one billion units in 2022 and yet decreasing from the previous year. Shipments of True Wireless stereo (TWS) headsets also increased in the past years, in part sparked by the proliferation of Apple’s AirPod devices. New TWS offerings from competing manufacturers such as Sony and Bose are also boosting the market, along with more affordable options made available from companies including Xiaomi and Jabra.
Google and Amazon dominate the smart speaker market
Smart speakers – a speaker with an integrated voice-activated assistant - have increased in popularity in recent years, and seen corresponding revenue growth. Amazon shipped more units than any other smart speaker vendor in 2022, followed by Google. These two giants lead the smart speaker market, ahead of the five million sold by their nearest rival Apple. Nowadays, smart speakers provide many functionalities, performing a wide range of activities, from playing music to organizing a shopping list.
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Research expert covering the global consumer technology industry