Thanks to increased smart home adoption, the global networked audio products market will grow around 17% annually until 2021, according to research company Technavio.
Many homes in developed countries, such as the US and the UK, are being renovated into smart homes. In a smart home, smart electronics, consumer electronic devices, and media and entertainment gadgets are connected to the home network and can interact with each other.
“Networked audio devices facilitate communication between networked devices using the home network and provide easy streaming of content, such as videos and music,” says Ujjwal Doshi, a lead analyst at Technavio for consumer electronics research.
Demand for wireless streaming of audio content is also at play. One of the major factors driving the sales of smart speakers globally is their ability to stream audio content wirelessly. With the use of networked audio devices, speakers consume less space compared with home theaters and use no wiring.
Networked audio devices have compact sizes and designs to suit customers’ requirements. Most of the portable devices, such as laptops, smartphones, and tablets, are equipped with Wi-Fi and Bluetooth connectivity, which help in the wireless streaming of content.
The demand for wireless technology is also driven by the need for the hassle-free maintenance and fast functionalities of speakers. As networked audio devices use wireless technologies, such as AirPlay, Play-Fi, Bluetooth, and DLNA, and most of the standard models run on AA batteries, they eliminate the cumbersome need for users to carry cables and adapters everywhere.
Also, networked audio devices are very durable and can be used for outdoor purposes within the network range. These factors are driving the demand for networked audio products among end-users, which is supporting revenue generation in the market.
Increase in Number of Fixed-line Broadband Customers
For seamless streaming on news channels, audio devices need to be connected to a home network, such as Wi-Fi. This helps users avail the benefits of networked audio technology. It offers smooth streaming of music and file sharing from one device to another.
“Good Internet speed enhances the quality of sound in audio devices, and any fluctuation in connectivity would disrupt data streaming. Customers are more inclined toward fixed-line broadband, and this is likely to support the growth of the networked audio products market,” says Ujjwal.