ABI Research anticipates wireless and multiroom speaker market to surpass 90 million unit shipments by 2020
ABI Research, a technology market intelligence company, released a report anticipating that the wireless and multiroom speaker market will surpass 90 million unit shipments by 2020, with an 11.5% CAGR from 2015 to 2020.
The report found that high-end speaker solutions are no longer the sole domain for wireless connectivity. Speaker companies like Bose, JBL, Polk, Ultimate Ears and VOXX International brought wireless speakers into the mainstream market while major consumer electronics companies like LG, Samsung and Sony, support a wide range of price points and listening environments for all types of consumers.
"It is those companies that address the broader market that stand best poised to continue shaping the market moving forward," Michael Inouye, Principal Analyst at ABI Research, said in a statement. "In terms of future forecasting, the smart home could also play an increasingly important role in the wireless speaker market, particularly if products like Amazon's Echo continue to gain traction."
The success of Google's Chromecast device demonstrates the importance that pricing plays on the uptake of streaming media devices, and the company's new audio solutions continue to follow this low cost model. The speaker business, however, still serves a segment of consumers, as well as custom installers, at the premium end.
"Despite a number of wireless audio platforms, including DTS's Play-Fi, Qualcomm's AllPlay and Apple's AirPlay, seeking to bring attention and standardization to the multiroom audio market, Google's recent Chromecast Audio and Google Cast for audio could trump them all," Michael Inouye, Principal Analyst at ABI Research, also stated. "Both the device and technology have potential to be key influencers in expanding the market reach of networked audio devices by capitalizing on heightened market attention."