LONDON--(BUSINESS WIRE)--The multimedia speakers market is expected to grow by USD 15.61 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the multimedia speakers market in optimistic, probable, and pessimistic forecast scenarios.
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The multimedia speakers market will witness a Negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
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- Adjust their strategic planning to move ahead once business stability kicks in.
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Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three Multimedia Speakers Market Participants:
Bose Corp.
Bose Corp. operates its business under three segments, which include- headphones, speakers, and audio sunglasses. The company offers a range of multimedia speakers such as computer speakers. Some of the major offerings of the company under this product category include the Companion 2 Series III multimedia speaker system and Companion 20 multimedia speaker system.
Creative Technology Ltd.
Creative Technology Ltd. operates its business in the Asia Pacific, The Americas, and Europe. Under the multimedia speakers category, the company offers a range of products such as Creative Pebble Plus.
Edifier International Ltd.
Edifier International Ltd. operates its business under multimedia speakers and headsets segments. The company offers a range of multimedia speakers. Some of the major offerings of the company under this product category include the M3600D, e30, S330D, M3200, e10, and e3350BT.
Related Reports on Communication Services Include:
Global Speakers Market: The speakers market size has the potential to grow by USD 29.28 billion during 2020-2024. The market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth. To get extensive research insights: Click and Get FREE Sample Report in Minutes!
Global Portable Speaker Market: The portable speaker market size has the potential to grow by USD 28.64 billion during 2020-2024, and the market’s growth momentum will decelerate during the forecast period because of the decline in year-over-year growth. To get extensive research insights: Click and Get FREE Sample Report in Minutes!
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/multimedia-speakers-market-industry-analysis
Multimedia Speakers Market 2020-2024: Segmentation
Multimedia speakers market is segmented as below:
-
Type
- Wireless Speakers
- Wired Multimedia Speakers
-
Geographic Landscape
- APAC
- Europe
- MEA
- North America
- South America
The multimedia speakers market is driven by a rising preference for in-home entertainment systems. In addition, other factors such as increasing demand for built-in wireless and smart portable speakers is expected to trigger the multimedia speakers market toward witnessing a CAGR of over 11% during the forecast period.
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Market Drivers
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Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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