ITbriefing.NET

TechBriefing.net
Growth of Smart Homes to Boost the Networked Audio Products Market: Technavio

News: Audio & Video / IT Briefings   Date:
Growth of Smart Homes to Boost the Networked Audio Products Market: Technavio - on DefenceBriefing.net

Technavio market research analysts forecast the global networked audio products market to grow at a CAGR of close to 17% during the forecast period, according to their latest report.



This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170904005155/en/

Technavio has published a new report on the global networked audio products market from 2017-2021. ( ...

Technavio has published a new report on the global networked audio products market from 2017-2021. (Graphic: Business Wire)

The market study covers the present scenario and growth prospects of the global networked audio products market for 2017-2021. The report also lists Bluetooth, Digital Living Network Alliance (DLNA), AirPlay, Play-Fi, Sonos as the five major technology segments, of which the Bluetooth segment accounted for close to 63% of the market share in 2016.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

Technavio analysts highlight the following three market drivers that are contributing to the growth of the global networked audio products market:

  • Increase in number of smart homes
  • Demand for wireless streaming of audio content
  • Increase in number of fixed-line broadband customers

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Increase in number of smart homes

Many homes in developed countries, such as the US and the UK, are being renovated into smart homes. In a smart home, smart electronics, consumer electronic devices, and media and entertainment gadgets are connected to the home network and can interact with each other. The demand for smart homes is highly driven by the need for energy conservation, convenience, and connectivity among home devices. Also, government initiatives are promoting smart homes for a better living, which is supporting the growth of smart homes. For instance, the introduction of smart meters to conserve energy and assistance of power line communication.

“Networked audio devices facilitate communication between networked devices using the home network and provide easy streaming of content, such as videos and music. The smart homes market spans across several developed countries and is expected to flourish in developing countries in the coming years, which will lead to the growth of the market,” says Ujjwal Doshi, a lead analyst at Technavio for consumer electronics research.

Demand for wireless streaming of audio content

One of the major factors driving the sales of smart speakers globally is their ability to stream audio content wirelessly. With the use of networked audio devices, speakers consume less space compared with home theaters and use no wiring. Networked audio devices have compact sizes and designs to suit customers’ requirements. Most of the portable devices, such as laptops, smartphones, and tablets, are equipped with Wi-Fi and Bluetooth connectivity, which help in the wireless streaming of content.

The demand for wireless technology is also driven by the need for the hassle-free maintenance and fast functionalities of speakers. As networked audio devices use wireless technologies, such as AirPlay, Play-Fi, Bluetooth, and DLNA, and most of the standard models run on AA batteries, they eliminate the cumbersome need for users to carry cables and adapters everywhere. Also, networked audio devices are very durable and can be used for outdoor purposes within the network range. These factors are driving the demand for networked audio products among end-users, which is supporting revenue generation in the market.

Increase in number of fixed-line broadband customers

The adoption of broadband and its use to browse the Internet have increased over the past few years because of the growing need to stay up-to-date with the latest updates on current affairs and technology. For seamless streaming on news channels, audio devices need to be connected to a home network, such as Wi-Fi. This helps users avail the benefits of networked audio technology. It offers smooth streaming of music and file sharing from one device to another. For instance, AirPlay technology helps in the easy streaming of digital content from one networked audio device to another. This eliminates the need to use smartphones as the content streams directly from app libraries.

“Good Internet speed enhances the quality of sound in audio devices, and any fluctuation in connectivity would disrupt data streaming. Customers are more inclined toward fixed-line broadband, and this is likely to support the growth of the networked audio products market,” says Ujjwal.

Browse Related Reports:

Article source - Business Wire, all right reserved. Copyright 2017
Trademarks, logos, pictures and other items may be copyright of firms mentioned in this article.



This article comes from TechBriefing.net
http://www.techbriefing.net/

The URL for this story is:
http://www.techbriefing.net/modules.php?op=modload&name=News&file=article&sid=412197