Some products have been rendered obsolete by innovations.
Technology giant, Sony last month launched two new home audio systems called MHC-M40D and MHC-M80D, that can connect to as many as 50 compatible devices.
Technology revolution, evidence shows, create new product segments and market opportunities.
The devices are equipped with wireless party chain via Bluetooth® that can also synchronise with a home’s lighting. This allows customers to change their surrounding using just one device to match the kind of music that they are listening to currently.
The MHC-M40D and MHC-M80D which retail at approximately Sh41,995 and Sh79,995, respectively also allows music to be played from any source, CD, DVD, HDMI OUT (ARC) or USB.
It has two mic inputs and a user can connect a guitar to one of the inputs, using the system as a guitar amplifier.
“Sony’s proficiency in audio technology means that this variety offers the ultimate feel-good home audio systems to match customers’ every musical mood from trending club-thumping EDM house parties, karaoke nights, home concerts, chill out jam sessions. The two new ‘3-box’ style audio systems will help establish Sony’s leadership in the home audio business,” said Fumiatsu Hirai, Managing Director, Sony Middle East and Africa.
The launch of the home audio systems comes as research released this year by Global Market Insights shows that the home audio equipment market size is set to exceed $20 billion by 2024.
This is due to high consumer demand for devices that are compatible with multiple other devices to increase convenience and enhance the experience.
“With the advancements in the technology, customers can buy speakers without complicated racks and components that deliver the desired quality of sound. Growing focus on wireless capabilities in these devices is gaining consumer attention and the manufacturers in the industry are developing products that appeal to the customers,” reported Global Market Insights.
However, as much as the industry players have enhanced their products with the latest technology in order to stay competitive and ahead in the market, it is still predicted that growing popularity of voice-enabled speakers will lead to the decline in wireless home audio systems by 2024.
As technology advancements continue to evolve, consumer demands will evolve in tandem, and the once popular products will be replaced.
“With technology, there is no constant. Manufacturers are finding new ways to make it easier for consumers to do certain tasks and they are adopting them because they are convenient. A classic example is the demise of the camera; it was once considered a must-have in order to take good photos but now smartphones include almost all these functions, making cameras obsolete,” said Stella Kimani, a brand strategist.
Indeed, the rise of high-end smartphones has seen the digital camera market experience a slow growth over the last decade. With the launch of every smartphone, the camera functions are consistently improving, side-lining the need to own a digital camera.
Furthermore, consumers believe that smartphones are a better investment as opposed to digital cameras since these phones offer various additional functions.
In 2007/2008 when touchscreen phones were being introduced in the market, the digital cameras were performing well. The Camera and Imaging Products Association (CIPA) reports almost 120 million digital cameras were shipped globally.
However, 10 years later, with the technology advancements of smartphones, data shows just how dramatic of a decline the camera industry has experienced.
Digital shipment dropped by nearly 80 per cent from 121.5 million in 2010 to 25 million in 2017.
At the same time, digital camera sales fell by nearly 30 per cent in 2017 but smartphone sales are expected to rise by more than 32 per cent.
More consumers are opting to use their smartphone cameras in place of bulky digital SLRs.
- African Laughter
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