The analysts said that shipments of connected audio products – that includes wireless speakers, wireless sounders and connected AV receivers will grow at a compound annual growth rate (CAGR) of 88 percent.
In unit terms, that’s a rise from 1.5 million units in 2010 to close to 66 million units in 2016.
Paul Erickson, a senior analyst at IHS, said that its penetration of tablets and smartphones and streaming services including Spotify that are creating a shift in peoples’ perception.
“Consumers are seeking ways to wireless play audio from their mobile devices on speakers in the room they’re in, in multiple rooms in a household, and on speakers carried with the. This need will drive strong global growth in wi-fi and Bluetoosh connected speakers over the next few years,” he said.
Major players in the market will include Samsung, LG, Sony, Bose, Denon, and DTS.
And while prices for connected multi-room speakers are high, they will still be adopted by many people. Sony, Samsung and LG are all expected to put serious marketing bucks into the equation.