India Wireless Speaker Market Report Disclosing Latest Trends and Advancement 2021 to 2026 - Amazon Retail India Private Limited, Google India Private Limited

The India Wireless Speaker Market Research Report is an in-depth study that provides industry-leading insight into existing and emerging growth patterns, end-user analysis, and other key data that have been tested and validated by experts and industry professionals. The report studies the market for importance, share, Status, demand and supply, models, competitive landscape, industry chain analysis, and other significant factors. The report also provides a detailed overview of the driving forces of the industry, along with the micro and macro-economic factors that are likely to affect its development.

The India Wireless Speaker Market is expected to reach a CAGR of 10% during the forecast period 2021 - 2026.

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The report covers extensive analysis of the key market players in the market, along with their business Scenario, additional plans, and Industry strategies. The key players studied in the report include:

Amazon Retail India Private Limited, Google India Private Limited, HARMAN International India Pvt. Ltd. (JBL), Sony India Private Limited, Imagine Marketing Pvt Ltd (Boat), Xiaomi Technology India Private Limited, Samsung India Electronics Private Limited, Bose Corporation India Private Limited, GN Audio A/S (Jabra), Koninklijke Philips N.V .

Industry News:

- In February 2020, Xiaomi announced the launch of Mi Outdoor Bluetooth speaker in India. The company claims that the speaker will offer a battery life of 20 hours with a 2000 mAH battery and an IPX5 water-resistant. The product launch is part of the company's product diversification strategy in India.

- In December 2019, Amazon launched the Echo Input in India, expanding the Alexa powered smart speakers range. With the launch of Amazon Echo Input, the company now has a total of 12 smart speakers. Unlike other Amazon smart speakers, the Echo Input comes with a built-in battery, which means you can even use it when unplugged.

- In August 2019, HARMAN, a wholly-owned subsidiary of Samsung Elect, launched a new lifestyle audio brand in India named Infinity by HARMAN. As part of the brand launch, the company unveiled 11 new and exciting audio products, including six Infinity headphones, four portable Bluetooth speakers, and a multimedia 2.1 Bluetooth system.

Key Market Trends:

Increased Demand and Access to Online Streaming Services is Expected to Boost the Market Growth

- India is observing higher use of portable speakers, owing to increased penetration of smartphones and other mobile devices along with the availability of online music and video streaming on digital platforms. Wireless speakers allow consumers to connect to various platforms through smartphones and other Bluetooth and WiFi-enabled devices such as tablets and smart TVs, etc. for instance, according to IMI-IFPI Digital Music Study 2019, India is the second-largest mobile markets, ahead of US with over 400 million smartphone users - a user base only second to China.

- The rapid transformation of digital streaming services has also increased the demand for portable and interoperable devices such as wireless speakers in the region has seen an upward trend. India’s audio streaming market is divided among domestic players, JioSaavn, Gaana, Wynk and global players Spotify, Amazon Music, Apple Music, and recent entrant YouTube Music.

- For instance, In the Diwali report, Spotify stated that Bihar, a state in India, led the streaming charts on its Diwali curated playlists. By the end of 2019, homegrown music streaming app Gaana crossed 150 million users mark. This forms a favorable ecosystem for the growth of wireless speakers.
- Moreover, distinct trends emerged from the IFPI-IMI Digital Music Study 2019 which was conducted across nine geographical locations in India which showed a year on the year growth rate of 21.3% of the overall market for the past three years wherein 80% of survey respondents recognize themselves as music fanatics and lovers, showing a broad music fandom base in India, which far exceeds the global average of 54%.

Full browse the report description and TOC:

https://www.marketinsightsreports.com/reports/02082593442/india-wireless-speaker-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?Mode=28  

What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Analytical Tools: The India Wireless Speaker Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

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