Wireless speakers increasingly dominate retail current value sales of portable players, as portable media players have been eclipsed by smartphones and there is negligible demand for e-readers. During 2021, wireless speakers will account for more than 95% of retail value sales of portable players.
Within wireless speakers, smart speakers, which offer voice search capabilities, are growing in popularity with local consumers, particularly Google Inc’s Google Home and Xiaomi Corp’s offerings. The first Google Home smart speaker was launched in Singapore during 2018, and between them, these two players will account for 12% of retail value sales of wireless speakers in 2021.
The competitive landscape of wireless speakers is quite fragmented. Harman International Industries Inc’s JBL brand will continue to lead in 2021, ahead of Logitech Singapore Pte Ltd’s Ultimate Ears and Bose Corp’s eponymous brand.
The rate of growth in retail current value sales of portable players will accelerate throughout the forecast period, with wireless speakers the main driver. Smart speakers are likely to see particularly strong growth, with more manufacturers set to launch these products, leading to more intense price competition.
Competition is set to intensify in portable players during the forecast period. In particular, a growing number of smartphone manufacturers are likely to follow the example of Xiaomi and launch their own wireless speakers.
Electronics and appliances specialist retailers remain the dominant distribution channel for portable players, but e-commerce gained significant retail value share during 2020 and will hold on to most of these gains during 2021. E-commerce is particularly popular with younger consumers who are ‘digital natives.
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This report originates from Passport, our Portable Players research and analysis database.
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