Peer into the PlastoForm Crystal Ball
We anticipate significant growth in four key areas:
While Bluetooth speakers are currently more affordable, Wi-Fi speakers provide more stable music delivery. Besides, Wi-Fi speakers can take their music from the cloud (via a router), and if a phone is used it is only as a controlling device - so music keeps playing even when the phone is used for voice calls or moves
out of range.
Plus there are significant advances in multi-room and wireless streaming technologies, which ensuring there will be strong competition among increasingly refined methods for streaming music. Hence, Wi-Fi connectivity becoming a standard feature in wireless speakers and multi-room products will become commonplace.
People are changing the ways they consume music. Listening to music is increasingly becoming a social activity, with younger generations eager to share their favourite songs, and singing karaoke in various group settings - during birthday and Christmas parties, pool-side parties and barbecues, and even when engaged in outdoor activities like camping or hiking.
Smart devices are now part of people’s daily life - ranging from wearables like smartwatches, through activity trackers, to smart home devices providing control over and automation of lighting, heating, air conditioning, and security. CTA 2017 Consumer Tech Industry Forecasts a 52% rise in numbers of digital smart devices sold during 2017.
It's inevitable that audio products will be increasingly transformed into “smart” audio products that enrich the smart home experience.. Indeed, Juniper Research predicts that revenue from smart audio hardware will rise from an estimated USD1.32 billion in 2016 to over USD5.32 billion by 2020.
Ultra-high definition audio, to dovetail with the rapid growth in ultra high definition television screens and computer monitors. Already, high-resolution digital audio is popular among consumers, and music streaming apps like Tidal offer high fidelity and lossless music streaming. The next step will be UHD audio.
The Future of Audio
- Opportunities Abound
With our wealth of experience in the audio industry, we can anticipate future audio trends - and help companies to create a variety of technology applications and products that will meet the needs of consumers in the years to come.