While smartphones and other mobile devices have threatened the sales of most portable players in Indonesia, this trend is not adversely impacting demand for wireless speakers. On the contrary, it is set to bolster the growth of wireless speakers as the connectivity between these devices means that consumers can use wireless speakers as a supplementary device such as when streaming music.
Sony is likely to retain its leadership of portable players in 2021, due its strength in portable media players, a category in which JBL and Bose are not present. However, as demand for these products continues to decline, JBL and Bose are continuing to gain ground from Sony due to their leadership of the dynamic wireless speakers.
Wireless speakers is still considered a new product in Indonesia with low penetration and awareness. Hence, an increasing number of smaller brands continue to enter the category in an attempt to attract new consumers and quickly gain share.
Over the forecast period, consumers will search for ways to enhance their entertainment experience and wireless speaker is a convenient solution, offering both connectivity and portability. Through greater consumer awareness, upgrading to products with more advanced features will be inevitable, which is why innovation will remain crucial for manufacturers in order to gain share.
E-commerce is expected to help drive future sales growth with the rising popularity of wireless speakers available on platforms such as Lazada, Shopee, and Tokopedia. Wireless speakers usually have a low shelf presence in established electronics and appliance specialist retailers while remaining rare in standalone audio stores in Indonesia, especially in smaller cities.
E-readers and portable media players will continue to register declines over the forecast period due to competition from both smartphones and wireless speakers. Portable media players no longer appeal to millennials and Generation Z consumers as most now use music streaming services such as Spotify and Apple Music, which are easier to listen to from their smartphones or to connect to a wireless speaker.
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Understand the latest market trends and future growth opportunities for the Portable Players industry in Indonesia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Portable Players industry in Indonesia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Portable Players research and analysis database.
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