http://www.gfkrt.com/asia/news_events/news/news_single/010100/index.en.html
Demand for audio docks up by 18 percent across four Southeast Asian markets this year: GfK Asia
Singapore is largest across the four markets; contributing to half the total pie
Singapore, 24 July 2012—As smartphone penetration level continues to deepen across the region, sales of audio docks have similarly been on the upswing, reflecting a considerable rise in demand. According to GfK Asia’s retail audit of audio docks across Singapore, Malaysia, Thailand and Indonesia, a total of 66,000 units were sold in January to May 2012, nearly 10,000 more compared to the same period in 2011.
Since the beginning of this year, sales revenue of audio docks grew by USD900,000 to reach nearly USD14.5 million in the four countries tracked. Within each of the country, demand has intensified in the range of 6 to 29 percent in volume sales and risen by up to 25 percent in value terms.
“The audio dock is a new and growing technology which was initially launched to largely complement Apple media players and smartphones,” highlighted Mr. Gerard Tan, Account Director for Digital Technology, GfK Asia. “However, with the subsequent developments of the smartphone industry, audio docks have been evolving in tandem to cater to the general smartphone market.”
Although Indonesia reported the highest growth for this product segment, it is the developed market of Singapore which at USD4.5 million is currently holding the biggest market share for audio docks. One in every two units (50%) of audio docks sold in the four countries collectively was bought by consumers in Singapore and volume demand in the country alone went up by 14 percent over last year. In Malaysia, the second largest market which contributed 30 percent in sales quantity, an increased 19 percent demand was also registered.
“GfK findings revealed that it is in the more developed markets that audio docks are more widespread, due essentially to the greater spending power of consumers there,” noted Mr. Tan. “For instance, individual worth of this segment in the more affluent north Asian countries like South Korea, Hong Kong, and Taiwan has already exceeded the USD 5 million, with the largest market being South Korea where around USD 9.4 million worth of the products have already been sold in the first five months of this year.”
An apparent upward trend is seen in the take up rate of the more costly home audio dock system across all of the four Southeast Asian countries. Overall, demand surged at a robust double digit rate of 24 percent this year, with three out of the four markets reporting healthy double digit growth between 4 and 39 percent. At the current average cost of USD265—as compared USD314 a year ago, prices have fallen some 16 percent, making audio dock systems even more affordable today.
While the biggest market for home audio dock systems remains as Indonesia, it is Singapore consumers who are buying the most tabletop docking stations. In totality however, this portable segment grew at a lesser rate of 12 and 10 percent in value and volume respectively. It has also reported a slight average price increase of around two percent over last year.
“Currently, emerging trends for audio docks include rising prevalence of the Bluetooth feature to enable wireless music streaming, as well as widening spread of devices to catering for Android smartphones,” highlighted Mr. Tan. “With the existing keen competition in the smartphone arena, we can anticipate greater vibrancy in the audio dock market as the increasing number of manufacturers entering the scene up step up their efforts to keep pace with the dynamic technological market,” he concluded.
Notes:
· Survey period: Jan – May 2012 VS Jan- May 2011
· Southeast Asian markets surveyed: Singapore, Malaysia, Thailand, Indonesia
· Audio docks covered in the survey include portable audio docks such as clock radio docking, docking speaker and radio recorder docking, as well as audio home system with docking component