||Asean Affairs 12 June 2013
Table top audio docks gaining popularity in Singapore
Nearly 30,000 sold in last 12 months; Bluetooth segment fastest growing
SINGAPORE: The growing demand and intensifying penetration of smart mobile devices have directly given rise to the popularity of table top audio docks. Consumers in Singapore have spent over USD 4.1 million on nearly 30,000 units of such audio docks in the last 12 months—the highest demand in the last three years. This reflects an increase in consumer purchases by 6 percent in volume, raising the value of the total market by 18 percent over the previous year.
Table top audio docks tracked by GfK is defined as portable systems that has built-in or wireless docking possibility as sound source and include the various docking types such as android, Bluetooth pairing, dual, and iOS etc.
“The Singapore population is generally tech savvy and are usually eager to try out new technologies—at a faster rate in comparison to its neighbors around the region,” said Gerard Tan, Account Director for Digital World at GfK Asia. “The proliferation of smartphones and tablets, which sold a total of over 3.1 million units in Singapore over the past one year or 33 percent more than the previous year, provides some indication of the rising demand towards complementary accessories.”
One particular segment which has been growing exponentially over the past three years is table top audio docks which are equipped with the Bluetooth feature. In the last 12 months, demand for this particular segment surged nearly threefold (189%) to reach a volume of around 11,500 units; accounting for nearly two-fifths (39%) of the total table top audio docks sales—up from just 14 percent a year ago.
“The growing dominance of Android devices has a direct impact on consumers’ choice of table top docks as the versatility of Bluetooth-enabled models allows them to work with most devices,” explained Tan. “At the same time, the ability for remote connection with such audio docks also gives it the added advantage of allowing users to stream their audio from a distance, without having to be physically near the speakers.”
Total worth of Bluetooth-enabled audio docks has correspondingly rocketed to USD 1.8 million, advancing by 242 percent compared to the previous period. The segment now accounts for 44 percent in dollar worth of the total table top docking market, with the average price per unit hovering around USD 158.
Manufacturing brands—new and existing ones have also been quick to jump onto the band wagon to launch new models of Bluetooth audio docks. Two years ago, there were 8 major brands offering consumers 15 models to choose from, and the spread has widened to around 57 models from more than 31 brands in the past year.
“The scene has become increasingly competitive with makers trying to outdo each other for more market share by introducing new interesting new features and attractive promotions,” said Tan. “Along with the continued growth in demand for smart mobile devices, we can anticipate the same developments for audio docks in the next few years,” he concluded.
GfK is one of the world’s largest research companies, with around 13,000 experts working to discover new insights into the way people live, think and shop, in over 100 markets, every day. GfK is constantly innovating and using the latest technologies and the smartest methodologies to give its clients the clearest understanding of the most important people in the world: their customers. In 2012, GfK’s sales amounted to €1.51 billion.