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The tablet speakers market is valued at USD 667.16 million in 2021 and the total consumption is expected to decline at a CAGR of 2.47% during the forecast period. Most tablets have built-in speakers.
New York, Nov. 03, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Tablet Speakers Market – Growth, Trends, COVID-19 Impact and Forecasts (2022 – 2027)” report – https://www. .reportlinker.com/p06360570/?utm_source=GNW
External speakers can also be used to enhance the audio experience.
Key features
The market size includes the revenue generated from the sales of speakers for tablets in various regions. The study also tracks key market parameters, key growth influencers, and key vendors operating in the industry, which supports market value and growth rates over the forecast period.
According to the Consumer Technology Association (CTA), computer products such as tablets and laptops were the most requested devices during the COVID-19 pandemic. Additionally, the organization says, in addition to serving as entertainment tools for kids and adults in 2020, tablets can help fill computing needs when laptops are hard to find. According to this trend, the revenue of tablets increased by 5% in 2020 and reached USD. 9.6 billion However, CTA expected tablet revenue to decline slightly by 1% in 2021.
As the number of COVID-19 cases continues to rise in many regions, many sectors continue to operate hybrid or remote. This trend continues with the adoption of tablets for work, e-learning and content consumption. This in turn will increase the demand for tablet speakers.
Most of the major tablet manufacturers saw declines in all three quarters of 2022 due to rising inflation. This has directly impacted the demand for speakers built into these devices. For example, in the third quarter of 2022, Apple’s iPad sales generated about $7.22 billion, up from $7.37 billion in the same quarter of 2021.
The consumer electronics industry has faced headwinds due to the global outbreak of COVID-19. China, the epicenter of COVID-19, has been hit hard by the spread of the virus. When the pandemic began in 2020, several major economies, including the United States, South Korea, Japan, and Italy, including their consumer electronics industries, were at risk from the COVID-19 outbreak. Retail stores and showrooms of major brands, supermarkets and hypermarkets were closed for a certain period, affecting sales of various consumer electronics products, including tablets. For example, Samsung closed all its stores in the US and Canada in May 2020 to check the spread of the virus.
Key market trends
The rise of tablets over laptops for work, e-learning and content consumption
According to Google’s CTO of Android tablets, Rich Miner, tablets are the future of mobile computing and are expected to soon overtake laptops in popularity. According to Miner, annual sales of tablets are expected to surpass those of laptops in the coming years. Although a tablet is less expensive than a laptop, it can handle many different tasks. As he explained during the show, apart from media consumption, tablets are being used in other areas. As devices have become more powerful for creative and productivity use, people have started to prefer tablets over laptops.
In addition, content consumption via tablets is also on the rise. In addition, due to the large display size, tablets are sometimes preferred over smartphones for audio and video streaming, another factor driving the demand for speakers for tablet use.
Even the lightest laptops are often heavier than tablets. Additionally, laptops are generally larger as components, cooling, keyboards and trackpads take up space. And their smaller size and weight make tablets much easier to carry than laptops when traveling. Thus, they are usually the preferred choice for content consumption.
A March 2021 survey by social streaming networking platform FLYX found that demand for audio streaming is at an all-time high. A survey of over 550 respondents in India revealed how audio streaming has gained popularity recently. According to the survey, 75.9% of participants streamed audio and video content, while 52.4% of users streamed audio content regularly. It was also found that 66.2% of the respondents prefer the audio content for its availability.
Additionally, according to the Recording Industry Association of America (RIAA), music streaming revenue in the United States will grow 24% in 2021 to a total of $12.4 billion, compared to $10.1 billion in 2020. audio streaming creates a demand for high-quality speakers that help improve audio quality.
Asia Pacific is expected to hold the largest market share
Recently, there has been a paradigm shift in the demand for tablet devices. The changing applications and technological advancements of tablets for various applications such as commercial, corporate, educational and personal applications, apart from just entertainment purposes, has led to an increase in the demand for tablets in the market.
Emergence of new, improved models with lucrative features is expected to drive the growth of the global tablet market during the forecast period. This increase in demand for tablets is expected to contribute to the demand growth of the tablet speakers market.
Additionally, in November 2021, Nokia launched its first tablet in India, the Nokia T20. The new tablet would have a 2K (2000×1200 pixels) display, 15 hours of internet usage, mAh battery, dual microphones and stereo speaker. The Nokia T20 would be Nokia’s first tablet in the Indian market. According to this case, the company may seek to expand its presence in the market and strengthen its market position.
Similarly, in May 2022, Realme launched its latest RealmePad X 5G tablet in China. This would be the company’s first mid-range 5G tablet. The RealmePad X would have an 11-inch FHD+ 60Hz LCD screen, Snapdragon 695, 13MP rear camera, 8MP selfie snapper, 8340mAh battery and quad speakers.
Such launches by companies in the market are expected to increase the demand for tablets in the Asia Pacific market. The demand for speakers in the tablet market is expected to grow in parallel with the growth of the tablet market in the Asia Pacific market during the study period.
In addition, the onset of the COVID-19 pandemic has partly boosted the demand for tablets in the market. Due to the COVID-19 pandemic, various educational institutions have been forced to switch to online education. This changing need for larger and more convenient screen sizes is expected to increase the demand for tablets in the market.
Race landscape
The increase in established manufacturers in the tablet speakers market is expected to intensify the competitive rivalry during the forecast period.
March 2022 – Patents Goertek’s Inc. playing a crucial role in the company’s leadership strategy, the company has applied for 3,468 patents, including 2,539 invention patents by March 2022. A total of 2,675 patents were granted, including 1,036 invention patents. Until December 31, 2021, the company applied for 25,818 patents (including 3,322 foreign patent applications), including 13,102 invention patents; a total of 15,525 patents were issued, including 4,165 invention patents.
Additional benefits:
Market Price (ME) sheet in Excel format
3 months of analytical support
Read the full report: https://www.reportlinker.com/p06360570/?utm_source=GNW
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