Asia Pacific Speaker Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2024-2032)

Asia Pacific Speaker Market Growth

The rising demand for smart speakers such as Amazon Echo and Google Home, the prevalence of music and video streaming services, and the burgeoning popularity of home theatre experience are some of the prominent drivers increasing the demand of Asia Pacific speaker market.

The growth of the gaming sector in the region has further fuelled the demand for speakers which offer an immersive sound quality to the players. As of 2023, there are around 1.48 billion gamers in Asia which creates ample opportunities for the sales of speakers. Bluetooth and Wi-Fi speakers are also gaining prominence in the market as they offer superior sound quality and remove the hassle of wire-based connectivity.

Market players are readily launching new speaker models that offer powerful sound and offer functionalities such as switching between sound modes. For instance, Sony announced the launch of the ULT Power Sound audio line-up in Malaysia in June 2024, which encompasses the ULT Tower 10 portable wireless speaker as well as the ULT Field 1 and 7 wireless speakers.

Key Trends and Recent Developments

The growing need for home theatres, integration of smart AI features, and the preference for portable as well as high-quality products are accelerating the Asia Pacific speaker market value.

April 2024

Sony Electronics launched a new series of wireless Bluetooth speakers, the ULT POWER SOUND series. The products, three in number, are known for producing powerful deep sounds ideal for crowded outdoor events. Key features include sound field optimization, 360° party sound and light, TV sound booster, and wireless connection for up to 100 speakers.

January 2024

Sony, a leading supplier of electronic products in India launched SRS-XV500, a party speaker with high playback time and louder sound quality. It had built-in lighting for ambience effect, two speaker units delivering the least distorted music, two tweeters for clear vocals and an expanded sound field, and a long-life battery.

April 2023

ATEN Advance, a leading supplier of audio-visual connectivity products in India, launched three new products in their existing audio range of products. These included two ceiling speakers, AS104 and AS106, along with an amplifier AP106 to power them. The speakers are ideal for large room use such as auditoriums, places of worship, and commercial spaces. The amplifier ensures low distortion and premium sound quality.

October 2022

Japanese audio brand AIWA launched its first Bluetooth speaker, Meteor MI-X330, in India. The speaker was equipped with rechargeable batteries, a durable build, and multiple features such as 24-bit music audio over Bluetooth, two bass radiators, audio drivers as well a Type-C charging point. The speaker batteries have a capacity of 5000mAh and a circular LED display.

Technological Advancements Leading to Increased Adoption of Smart Speakers

The overall Asia Pacific speaker market growth is propelled by the increased adoption of smart speakers with integrated voice assistants. These majorly include Amazon Alexa, Google Assistant, and Apple's Siri. Consumers are adopting these devices for home automation, entertainment, and smart home control. As more languages and local dialects get integrated, smart speakers will expand their reach to a wider audience.

Demand for Wireless Bluetooth Speakers Leading to Growth in Market Revenue

Wireless and Bluetooth speakers are growing in popularity due to their portability and ease of connectivity with smartphones, tablets, and laptops. This trend is particularly strong among younger consumers in urban areas, where streaming music services are frequently used. The improved battery life, sound quality, and competitive pricing of wireless speakers have made them an attractive choice for the purpose, thereby adding up to the Asia Pacific speaker market revenue.

Increased Demand for Premium Audio Quality Due to Higher Disposable Income

As disposable incomes rise in parts of the Asia Pacific region, there is growing interest in premium audio products that offer high-fidelity sound. Brands are responding by releasing speakers with better audio performance, enhanced bass, and features such as noise cancellation. Countries like Japan, South Korea, and Australia are leading this trend, where consumers value superior audio experiences, whether for home theatre setups or immersive music listening.

Rising Popularity of Home Theater Systems Creating New Market Opportunities

There is increasing demand for high-quality speaker systems designed for home theatres across the Asia Pacific region. Consumers are seeking immersive entertainment experiences at home, driven by the growing popularity of streaming platforms like Netflix, Disney+, and local OTT services. The growing demand is expected to create several Asia Pacific speaker market opportunities for key players.

Asia Pacific Speaker Industry Segmentation

“Asia Pacific Speaker Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Wired Speaker
• Wireless Speaker

Market Breakup by Application

• Consumer Electronics
• Professional Audio
• Automotive
• Others

Market Breakup by Country

• China
• Japan
• India
• ASEAN
• Australia
• Others

Asia Pacific Speaker Market Share

Based on type, the market is divided into wired speaker and wireless speaker. Wired speakers occupy a significant share of the market due to their widespread availability in the regional market. They possess low sound latency and high audio quality which lasts for a long period of time, appealing greatly to audiophiles. Additionally, they provide better resistance against any unwanted outside interference compared to wireless speakers and come at an affordable rate, making them more accessible.

Leading Companies in the Asia Pacific Speaker Market

The market participants are developing speakers with sleek designs and superior sound quality to meet the evolving regulatory landscape.

• Sony Corporation
• Samsung Electronics Co. Ltd.
• Bose Corporation
• Sonos, Inc.
• LG Corporation
• Panasonic Holdings Corporation
• Apple, Inc.
• Amazon.com Inc.
• Alphabet Inc.
• Marshall Group AB
• Others