Market Insights Consumer Consumer Electronics TV, Radio & Multimedia

Speakers - New Zealand

New Zealand

In 2024, the revenue in the Speakers market in New Zealand amounts to NZ US$90.5m.
It is projected to grow annually by 6.32% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in the Speakers market, reaching NZ US$12,420.0m in 2024.
In terms of per person revenues, in New Zealand generates NZ US$18.20 in 2024.
Looking ahead to 2029, the volume in the Speakers market is expected to reach 990.9k pieces units.
The market is also anticipated to show a volume growth of 8.8% in 2025.
On average, each person in New Zealand is expected to have a volume of 0.1pieces units in the Speakers market in 2024.
It is important to note that these figures pertain specifically to the market segment of Speakers market in New Zealand.
New Zealand's speaker market is booming, driven by a strong demand for high-quality audio products and a growing interest in home entertainment systems.

Key regions: Brazil, Europe, Canada, India, United Kingdom

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on electronic and digital devices used privately either for entertainment (televisions, game consoles, smart speakers, etc.), communication (telephones, smartphones, etc.) or home-office activities (printers, copiers, etc.).

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Global Consumer Survey), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, number of internet users, smartphone penetration rate, household number and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting electronic products due to the non-linear growth of technology adoption and regular product upgrade. The main drivers are GDP per capita, consumer spending per capita, and 5G penetration rate.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). GCS data is reweighted for representativeness.