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

Italy Speaker Market Growth

Rising integration of smart speakers with voice assistants such as Amazon Alexa and Google Assistant, the burgeoning availability of Bluetooth speakers, and increased efforts in developing immersive sound speakers are some of the major factors driving the Italy speaker market expansion.

Sustainability is also a prominent trend in the market as manufacturers are incorporating recycled materials and developing products that have a reduced environmental footprint. This includes designing eco-efficient speakers, using biodegradable materials, and minimising the use of harmful chemicals in the manufacturing process.

The emergence of audio formats such as Dolby Atmos has led to the development of speakers that are specifically developed to support these technologies, resulting in a more immersive sound experience, particularly in home theatre systems.

Key Trends and Recent Developments

Increasing adoption of portable speakers, integration of AI and IoT technologies, popularity of home theatres, and rising demand for high-end products by high-income individuals are accelerating the Italy speaker market value.

April 2024

Sony Electronics Inc., one of the largest suppliers of audio speakers in Italy, announced the launch of its new ULT Power Sound series, a new range of Bluetooth speakers and headphones designed with high-end audio quality. It comprised Bluetooth speakers ULT TOWER 10, ULT FIELD 7, ULT FIELD 1, and wireless headphones ULT WEAR which produced deep bass and provided enhanced audio experience. For the launch, Sony had partnered with the GRAMMY award winner, Peso Pluma.

November 2023

Italian audio brand iXOOST, known for manufacturing audio speakers from supercar parts, debuted in Malaysia and brought in by VSTECS Astar Sdn Bhd, a Malaysian distributor of Information and Communications (ICT) products. VSTECS announced itself as the sole distributor of iXOOST speakers in Malaysia. On the day of launch, iXOOST revealed some of its portfolio products licensed by the partnering automotive companies, which included the ESAVOX Automobili Lamborghini, a high-end sound system created from the original Lamborghini exhaust, and VALÁN Automobili Lamborghini that paired original Lamborghini Huracán Tecnica exhausts that have a hexagonal grille with 80-Watt Class D amplifiers.

January 2023

Apple announced the HomePod (2nd generation), a smart speaker delivering next-level acoustics in an outstanding design. The HomePod was packed with technological innovations such as Siri's intelligence, and advanced computational audio, including support for immersive Spatial Audio tracks. The speaker enabled smart home automation and control using Siri, carbon monoxide detection through an alarm, and temperature as well as humidity monitoring across all rooms.

June 2021

Sonos Faber, a luxury Italian audio brand announced the expansion of its award-winning Lumina range of new models Lumina II and Lumina VA / V. While the former was a floor-standing speaker, the latter was a compact stand mount model. Both speakers were manufactured in Italy and offered a high sound quality at affordable prices. They were designed to be used in larger spaces.

Increased Adoption of Portable Speakers Propelling the Growth of the Italy Speaker Market

Portable speakers are high in demand among the urban, outgoing population of Italy especially owing to the long hours they spend outside for work and travel reasons. They allow listeners to conveniently carry their speakers anywhere, as they are compact and lightweight in design. Moreover, most newly manufactured portable speakers have long-lasting batteries that guarantee long hours of functioning without charging. Such speakers are increasingly being manufactured by industry leaders eyeing future growth prospects and market stability. For instance, Sonos Faber announced the launch of its new, all-in-one wireless speaker, Omnia, with a high-end design, supporting all forms of music streaming, from AirPlay 2, Chromecast and Tidal Connect, to Bluetooth with aptX HD in February 2022.

Integration of AI and IoT Technologies Enhancing the Italy Speaker Market Productivity

Technological advancements in the field of AI and IoT have made smart voice-assistant speakers a necessity for all homes. Consumers are using these speakers to control and monitor home systems and appliances remotely. Besides the growing use of smart appliances that can be operated through mobile applications within the homes is also contributing to the increased adoption of smart voice assistant speakers. Catering to their growing demand, key players have enhanced the distribution of commonly used smart speakers in the Italian market, which include Amazon Echo, Google Nest, and Apple HomePod.

Growing Popularity of Home Theatres Leading to High Italy Speaker Demand

The growing trend of home entertainment, owing to the popularity of OTT streaming platforms, is driving the demand for home theatre audio systems in the market. Consumers are increasingly seeking immersive audio-visual experiences in the comfort of their homes, without spending a significant amount on theatre-going experiences. Besides, a rapid shift towards the consumption of high-resolution 4K and 8K televisions with complimentary soundbars is also indicative of the growing popularity of home theatre systems, leading to the demand for premium quality, home-based speakers in the market.

Rising Disposable Income Increasing the High-End Speaker Consumption in Italy

Rising disposable income is encouraging music enthusiasts to invest in high-end speakers manufactured by premium brands that deliver superior sound quality and versatility in usage. Besides, handcrafted designs in speakers are becoming increasingly popular due to their aesthetic appeal. Key players, such as Bang & Olufsen as well as Sonos Faber realising this growing trend are investing in developing speakers that would cater exclusively to their high-income customers. For instance, Sonus Faber unveiled four new models in its next-generation high-end Homage collection, packed with technological innovations, in January 2023.

Italy Speaker Industry Segmentation

“Italy 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 Region

• Lombardy
• Lazio
• Veneto
• Emilia-Romagna
• Piedmont
• Tuscany
• Others

Italy Speaker Market Share

Based on application, the market is divided into consumer electronics, professional audio, and automotive, among others. Consumer electronics hold a major market share as they encompass products such as smart speakers and portable Bluetooth speakers, which have gained significant popularity due to their convenience and high-end technology. Market players are further making efforts towards the production of more sleek and cutting-edge smart speakers that can appeal to a wide consumer base.

Leading Companies in the Italy Speaker Market

The market players are expanding their presence in emerging markets to gain a competitive edge in the market.

• 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