Multimedia Speakers Market size to grow by USD 21.33 billion from 2022 to 2027, Driven by the growing consumer preference for in-home entertainment systems – Technavio

NEW YORK, March 15, 2023 /PRNewswire/ — The global multimedia speakers market size is estimated to grow by USD 21.33 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of over 11.33% during the forecast period. The growing consumer preference for in-home entertainment systems is driving the growth of the global multimedia speakers market significantly. There has been a paradigm shift in the home entertainment industry due to the changes in consumer lifestyles and the choice of entertainment. The shift can be attributed to factors such as the busy lifestyle of consumers, rising disposable income of consumers, and the easy availability of in-home entertainment systems to play music and video games as well as to watch movies. Furthermore, in-home entertainment systems prove to be an economical option when compared to expensive outdoor leisure pursuits such as vacations, movie theaters, and sports events. Hence, the shifting preference toward in-home entertainment is expected to drive market growth.

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Multimedia Speakers Market – Segmentation Assessment

Segment Overview

Technavio has segmented the market based on distribution channel (offline and online), type (wireless multimedia speakers and wired multimedia speakers), and geography (APAC, North America, Europe, South America, and Middle East and Africa). 

  • The market share growth of the offline segment is estimated to be significant for the growth of the global multimedia speakers market during the forecast period. Due to the consumers’ affinity toward experience-based purchase offerings, offline stores continue to thrive in the market. Many consumers rely on in-store performance and store expert demos to make their purchase decisions. Vendors increasingly emphasize matching the online prices of their multimedia speakers with the store manufacturer’s suggested retail price (MSRP), resulting in the reduction of the price disparity between distribution channels. 

Geography Overview

By geography, the global multimedia speakers market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global multimedia speakers market.

  • APAC is estimated to contribute 45% to the growth of the global multimedia speakers market during the forecast period. The growth in sales in the region can be attributed to factors such as the growth in disposable income and the rise in the purchase of multimedia speakers through online sales channels. The rise in disposable income across APAC countries has resulted in a rise in consumer spending on leisure items such as home entertainment products, including advanced and high-end multimedia speakers. The rapid penetration of smartphones and internet facilities, coupled with the proliferation of online payment facilities, has boosted the use of online purchases across the region. Moreover, the majority of people in APAC are shifting to smart lifestyles, due to which the penetration of smart homes in the region is expected to surpass the US by 2030. Hence, factors like growing disposable income are driving the growth of the global multimedia speakers market during the forecast period.

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Multimedia Speakers MarketVendor Analysis

Vendor Landscape – The global multimedia speakers market is characterized by the presence of various vendors such as Altec Lansing Inc., Audioengine LLC, Bang and Olufsen Group, Bose Corp., Bowers and Wilkins, Creative Technology Ltd., Edifier International Ltd., Feltron Industries Pvt. Ltd., GP Industries Ltd., Koninklijke Philips NV, Logitech, Onkyo Corp., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Shenzhen Fenda Technology Co. Ltd., Terratec Ltd., Yamaha Corp., Sony Group Corp., LG Electronics Inc., and Unitech India.

Multimedia Speakers MarketMarket Dynamics

Leading trends influencing the market 

  • The growth in the purchase of multimedia speakers through online platforms is a major trend in the global multimedia speakers market. 
  • Customers influenced by advertisements and promotions are known to purchase impulsively on online platforms. They purchase electronic products on e-commerce platforms because of the benefits like convenience, ease of payment, discounts, provision of quick shipping services, the possibility of comparing products, and the availability of a wide range of products. 
  • Vendors increasingly use third-party e-commerce platforms to extend the reach of their products across the world. Furthermore, online retailers offer attractive discounts and direct-to-home deliveries to attract consumers to purchase home entertainment systems through online distribution channels.
  • The rapid penetration of internet-enabled smartphones has resulted in consumers steadily shifting from conventional offline stores to online retail platforms. 

Major challenges hindering the market growth

  • The increasing availability of counterfeit products is a primary challenge impeding market growth. 
  • The easy availability of multimedia speakers on unauthorized distribution channels due to the lack of legislation to control counterfeit manufacturing has driven the purchase of counterfeit products among consumers.
  • Furthermore, the lack of surveillance in local supply chains also results in the tampering and repackaging of products in supply chains.
  • Hence, vendors are incurring an additional cost in curtailing such grey market activities, and this is intensifying the cost pressure. Thus, challenging situations like counterfeit products may impede the growth of the multimedia speakers market during the forecast period.

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What are the key data covered in this Multimedia Speakers Market report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the multimedia speakers market between 2023 and 2027
  • Precise estimation of the size of the multimedia speakers market and its contribution to the market with a focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the multimedia speakers market across APAC, North America, Europe, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of multimedia speakers market vendors

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Related Reports:

The speakers market is estimated to grow at a CAGR of 30.5% between 2022 and 2027. The size of the market is forecast to increase by USD 115.46 billion. A key factor driving growth in the speakers market is the increasing adoption of smart speakers.

The automotive audio speakers market is projected to grow by USD 6.30 billion with a CAGR of 6.41% during the forecast period 2021 to 2026. The availability of cost-effective speakers in the automotive aftermarket is a key driver fueling market growth.

Multimedia Speakers Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 11.33%

Market growth 2023-2027

USD 21.33 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

10.69

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 45%

Key countries

US, China, Japan, India, and Germany, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Altec Lansing Inc., Audioengine LLC, Bang and Olufsen Group, Bose Corp., Bowers and Wilkins, Creative Technology Ltd., Edifier International Ltd., Feltron Industries Pvt. Ltd., GP Industries Ltd., Koninklijke Philips NV, Logitech, Onkyo Corp., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Shenzhen Fenda Technology Co. Ltd., Terratec Ltd., Yamaha Corp., Sony Group Corp., LG Electronics Inc., and Unitech India

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of Contents 

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
  • 3.4 Market outlook: Forecast for 2022-2027 
    • Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
    • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

  • 4.1 Global multimedia speakers market 2017 – 2021 
    • Exhibit 18: Historic Market Size – Data Table on Global multimedia speakers market 2017 – 2021 ($ billion)
  • 4.2 Type Segment Analysis 2017 – 2021 
    • Exhibit 19: Historic Market Size – Type Segment 2017 – 2021 ($ billion)
  • 4.3 Distribution channel Segment Analysis 2017 – 2021 
    • Exhibit 20: Historic Market Size – Distribution channel Segment 2017 – 2021 ($ billion)
  • 4.4 Geography Segment Analysis 2017 – 2021 
    • Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ billion)
  • 4.5 Country Segment Analysis 2017 – 2021 
    • Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ billion)

5 Five Forces Analysis

  • 5.1 Five forces summary
    • Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
  • 5.2 Bargaining power of buyers 
    • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
  • 5.3 Bargaining power of suppliers 
    • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
  • 5.4 Threat of new entrants 
    • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
  • 5.5 Threat of substitutes 
    • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
  • 5.6 Threat of rivalry
    • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
  • 5.7 Market condition
    • Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

  • 6.1 Market segments
    • Exhibit 30: Chart on Distribution Channel – Market share 2022-2027 (%)
    • Exhibit 31: Data Table on Distribution Channel – Market share 2022-2027 (%)
  • 6.2 Comparison by Distribution Channel 
    • Exhibit 32: Chart on Comparison by Distribution Channel
    • Exhibit 33: Data Table on Comparison by Distribution Channel
  • 6.3 Offline – Market size and forecast 2022-2027 
    • Exhibit 34: Chart on Offline – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 35: Data Table on Offline – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 36: Chart on Offline – Year-over-year growth 2022-2027 (%)
    • Exhibit 37: Data Table on Offline – Year-over-year growth 2022-2027 (%)
  • 6.4 Online – Market size and forecast 2022-2027 
    • Exhibit 38: Chart on Online – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 39: Data Table on Online – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 40: Chart on Online – Year-over-year growth 2022-2027 (%)
    • Exhibit 41: Data Table on Online – Year-over-year growth 2022-2027 (%)
  • 6.5 Market opportunity by Distribution Channel 
    • Exhibit 42: Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Type

  • 7.1 Market segments
    • Exhibit 43: Chart on Type – Market share 2022-2027 (%)
    • Exhibit 44: Data Table on Type – Market share 2022-2027 (%)
  • 7.2 Comparison by Type
    • Exhibit 45: Chart on Comparison by Type
    • Exhibit 46: Data Table on Comparison by Type
  • 7.3 Wireless multimedia speakers – Market size and forecast 2022-2027 
    • Exhibit 47: Chart on Wireless multimedia speakers – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 48: Data Table on Wireless multimedia speakers – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 49: Chart on Wireless multimedia speakers – Year-over-year growth 2022-2027 (%)
    • Exhibit 50: Data Table on Wireless multimedia speakers – Year-over-year growth 2022-2027 (%)
  • 7.4 Wired multimedia speakers – Market size and forecast 2022-2027 
    • Exhibit 51: Chart on Wired multimedia speakers – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 52: Data Table on Wired multimedia speakers – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 53: Chart on Wired multimedia speakers – Year-over-year growth 2022-2027 (%)
    • Exhibit 54: Data Table on Wired multimedia speakers – Year-over-year growth 2022-2027 (%)
  • 7.5 Market opportunity by Type 
    • Exhibit 55: Market opportunity by Type ($ billion)

8 Customer Landscape

  • 8.1 Customer landscape overview 
    • Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

  • 9.1 Geographic segmentation 
    • Exhibit 57: Chart on Market share by geography 2022-2027 (%)
    • Exhibit 58: Data Table on Market share by geography 2022-2027 (%)
  • 9.2 Geographic comparison 
    • Exhibit 59: Chart on Geographic comparison
    • Exhibit 60: Data Table on Geographic comparison
  • 9.3 APAC – Market size and forecast 2022-2027 
    • Exhibit 61: Chart on APAC – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 62: Data Table on APAC – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 63: Chart on APAC – Year-over-year growth 2022-2027 (%)
    • Exhibit 64: Data Table on APAC – Year-over-year growth 2022-2027 (%)
  • 9.4 North America – Market size and forecast 2022-2027 
    • Exhibit 65: Chart on North America – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 66: Data Table on North America – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 67: Chart on North America – Year-over-year growth 2022-2027 (%)
    • Exhibit 68: Data Table on North America – Year-over-year growth 2022-2027 (%)
  • 9.5 Europe – Market size and forecast 2022-2027 
    • Exhibit 69: Chart on Europe – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 70: Data Table on Europe – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 71: Chart on Europe – Year-over-year growth 2022-2027 (%)
    • Exhibit 72: Data Table on Europe – Year-over-year growth 2022-2027 (%)
  • 9.6 South America – Market size and forecast 2022-2027 
    • Exhibit 73: Chart on South America – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 74: Data Table on South America – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 75: Chart on South America – Year-over-year growth 2022-2027 (%)
    • Exhibit 76: Data Table on South America – Year-over-year growth 2022-2027 (%)
  • 9.7 Middle East and Africa – Market size and forecast 2022-2027 
    • Exhibit 77: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 78: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 79: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
    • Exhibit 80: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
  • 9.8 China – Market size and forecast 2022-2027 
    • Exhibit 81: Chart on China – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 82: Data Table on China – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 83: Chart on China – Year-over-year growth 2022-2027 (%)
    • Exhibit 84: Data Table on China – Year-over-year growth 2022-2027 (%)
  • 9.9 US – Market size and forecast 2022-2027 
    • Exhibit 85: Chart on US – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 86: Data Table on US – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 87: Chart on US – Year-over-year growth 2022-2027 (%)
    • Exhibit 88: Data Table on US – Year-over-year growth 2022-2027 (%)
  • 9.10 Germany – Market size and forecast 2022-2027 
    • Exhibit 89: Chart on Germany – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 90: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 91: Chart on Germany – Year-over-year growth 2022-2027 (%)
    • Exhibit 92: Data Table on Germany – Year-over-year growth 2022-2027 (%)
  • 9.11 Japan – Market size and forecast 2022-2027 
    • Exhibit 93: Chart on Japan – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 94: Data Table on Japan – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 95: Chart on Japan – Year-over-year growth 2022-2027 (%)
    • Exhibit 96: Data Table on Japan – Year-over-year growth 2022-2027 (%)
  • 9.12 India – Market size and forecast 2022-2027 
    • Exhibit 97: Chart on India – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 98: Data Table on India – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 99: Chart on India – Year-over-year growth 2022-2027 (%)
    • Exhibit 100: Data Table on India – Year-over-year growth 2022-2027 (%)
  • 9.13 Market opportunity by geography 
    • Exhibit 101: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers
  • 10.2 Market challenges
  • 10.3 Impact of drivers and challenges 
    • Exhibit 102: Impact of drivers and challenges in 2022 and 2027
  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview
  • 11.2 Vendor landscape
    • Exhibit 103: Overview on Criticality of inputs and Factors of differentiation
  • 11.3 Landscape disruption
    • Exhibit 104: Overview on factors of disruption
  • 11.4 Industry risks
    • Exhibit 105: Impact of key risks on business

12 Vendor Analysis

  • 12.1 Vendors covered
    • Exhibit 106: Vendors covered
  • 12.2 Market positioning of vendors 
    • Exhibit 107: Matrix on vendor position and classification
  • 12.3 Altec Lansing Inc.
    • Exhibit 108: Altec Lansing Inc. – Overview
    • Exhibit 109: Altec Lansing Inc. – Product / Service
    • Exhibit 110: Altec Lansing Inc. – Key offerings
  • 12.4 Audioengine LLC
    • Exhibit 111: Audioengine LLC – Overview
    • Exhibit 112: Audioengine LLC – Product / Service
    • Exhibit 113: Audioengine LLC – Key offerings
  • 12.5 Bang and Olufsen Group 
    • Exhibit 114: Bang and Olufsen Group – Overview
    • Exhibit 115: Bang and Olufsen Group – Business segments
    • Exhibit 116: Bang and Olufsen Group – Key offerings
    • Exhibit 117: Bang and Olufsen Group – Segment focus
  • 12.6 Bose Corp.
    • Exhibit 118: Bose Corp. – Overview
    • Exhibit 119: Bose Corp. – Product / Service
    • Exhibit 120: Bose Corp. – Key news
    • Exhibit 121: Bose Corp. – Key offerings
  • 12.7 Bowers and Wilkins
    • Exhibit 122: Bowers and Wilkins – Overview
    • Exhibit 123: Bowers and Wilkins – Product / Service
    • Exhibit 124: Bowers and Wilkins – Key offerings
  • 12.8 Creative Technology Ltd. 
    • Exhibit 125: Creative Technology Ltd. – Overview
    • Exhibit 126: Creative Technology Ltd. – Business segments
    • Exhibit 127: Creative Technology Ltd. – Key offerings
    • Exhibit 128: Creative Technology Ltd. – Segment focus
  • 12.9 Edifier International Ltd. 
    • Exhibit 129: Edifier International Ltd. – Overview
    • Exhibit 130: Edifier International Ltd. – Business segments
    • Exhibit 131: Edifier International Ltd. – Key offerings
    • Exhibit 132: Edifier International Ltd. – Segment focus
  • 12.10 Koninklijke Philips NV 
    • Exhibit 133: Koninklijke Philips NV – Overview
    • Exhibit 134: Koninklijke Philips NV – Business segments
    • Exhibit 135: Koninklijke Philips NV – Key news
    • Exhibit 136: Koninklijke Philips NV – Key offerings
    • Exhibit 137: Koninklijke Philips NV – Segment focus
  • 12.11 LG Electronics Inc.
    • Exhibit 138: LG Electronics Inc. – Overview
    • Exhibit 139: LG Electronics Inc. – Business segments
    • Exhibit 140: LG Electronics Inc. – Key news
    • Exhibit 141: LG Electronics Inc. – Key offerings
    • Exhibit 142: LG Electronics Inc. – Segment focus
  • 12.12 Logitech
    • Exhibit 143: Logitech – Overview
    • Exhibit 144: Logitech – Business segments
    • Exhibit 145: Logitech – Key news
    • Exhibit 146: Logitech – Key offerings
    • Exhibit 147: Logitech – Segment focus
  • 12.13 Onkyo Corp.
    • Exhibit 148: Onkyo Corp. – Overview
    • Exhibit 149: Onkyo Corp. – Product / Service
    • Exhibit 150: Onkyo Corp. – Key offerings
  • 12.14 Panasonic Holdings Corp. 
    • Exhibit 151: Panasonic Holdings Corp. – Overview
    • Exhibit 152: Panasonic Holdings Corp. – Business segments
    • Exhibit 153: Panasonic Holdings Corp. – Key news
    • Exhibit 154: Panasonic Holdings Corp. – Key offerings
    • Exhibit 155: Panasonic Holdings Corp. – Segment focus
  • 12.15 Samsung Electronics Co. Ltd. 
    • Exhibit 156: Samsung Electronics Co. Ltd. – Overview
    • Exhibit 157: Samsung Electronics Co. Ltd. – Business segments
    • Exhibit 158: Samsung Electronics Co. Ltd. – Key news
    • Exhibit 159: Samsung Electronics Co. Ltd. – Key offerings
    • Exhibit 160: Samsung Electronics Co. Ltd. – Segment focus
  • 12.16 Sony Group Corp.
    • Exhibit 161: Sony Group Corp. – Overview
    • Exhibit 162: Sony Group Corp. – Business segments
    • Exhibit 163: Sony Group Corp. – Key news
    • Exhibit 164: Sony Group Corp. – Key offerings
    • Exhibit 165: Sony Group Corp. – Segment focus
  • 12.17 Yamaha Corp.
    • Exhibit 166: Yamaha Corp. – Overview
    • Exhibit 167: Yamaha Corp. – Business segments
    • Exhibit 168: Yamaha Corp. – Key offerings
    • Exhibit 169: Yamaha Corp. – Segment focus

13 Appendix

  • 13.1 Scope of the report
  • 13.2 Inclusions and exclusions checklist 
    • Exhibit 170: Inclusions checklist
    • Exhibit 171: Exclusions checklist
  • 13.3 Currency conversion rates for US$ 
    • Exhibit 172: Currency conversion rates for US$
  • 13.4 Research methodology
    • Exhibit 173: Research methodology
    • Exhibit 174: Validation techniques employed for market sizing
    • Exhibit 175: Information sources
  • 13.5 List of abbreviations 
    • Exhibit 176: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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