Pune, India, Sept. 15, 2022 (GLOBE NEWSWIRE) -- The global wireless speakers market size is anticipated to reach USD 65.65 billion by 2026. The market value was USD 8.93 billion in 2018 and is expected to rise exponentially at a CAGR of 28.6% within the forecast period of 2019 to 2026. on account of the increasing adoption of the internet of things technology. Speakers have emerged as the fastest-growing product in the department of smart home technology. The growing popularity of smart speakers integrated with wireless technology and artificial intelligence is the current wireless speakers market trends.
Industry Developments
- August 2019 – Portable home speaker was launched by Bose Corporation. This speaker is battery powered and possesses technologies such as voice control, Wi-Fi, and Bluetooth technology in its compact ultra-versatile shape and form.
- December 2019 – Upgraded soundbars by LG were launched in Las Vegas for suiting high end 55 and 65-inch televisions. It also announced launching its soundbar models, namely SN8YG, SN11RG, SN10YG, and SN9YG, by January 2020.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2019-2026 |
| Forecast Period 2019 to 2026 CAGR | 28.6% |
| 2026 Value Projection | 65.65 Billion |
| Base Year | 2021 |
| Wireless Speakers Market Size in 2018 | USD 8.93 Billion |
| Historical Data for | 2015 to 2017 |
| No. of Pages | 120 |
| Segments covered | Technology, Application & Geography |
| Wireless Speakers Market Growth Drivers | Adoption of Wireless Connected ‘In-Home Entertainment Systems’ Is Likely to Drive the Market Growth |
| 5G Continues its Inexorable Rise in Developing the Wireless Connectivity | |
| Privacy Concerns is Likely to Restrict the Market Growth |
An Overview of the Impact of COVID-19 on this Market:
The Wireless Speakers Market emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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Market Drivers
Availability of Cost-efficient 5G Cellular Networks for Wireless Connectivity to Add Impetus
The advent of voice-enabled speakers in home entertainment systems is a significant factor in promoting wireless speakers market growth. This, coupled with the increasing adoption of artificial intelligence and the internet of things, will also boost the Wireless Speakers Market. To cite an example, the Home Kit by Apple provides a centralized voice support platform for controlling home kit products. Such initiatives will bode well for the market in the coming years. Furthermore, the advent of 5G cellular networks, coupled with the availability of such devices at affordable rates, will create lucrative growth opportunities for the market in the long run.
Regional Segmentation:
Asia Pacific to Witness Rapid Growth with Introduction of Artificial Intelligence in Latest Products
With a revenue generation of USD 3.46 billion earned in 2018, North America earned the dominant Wireless Speakers Market share. This growth is attributed to the presence of a mature market with strong levels of data usage and increasing rates of subscribers for mobile broadband. Besides this, companies such as Harman International Industries, Amazon.com, Bose Corporation, and Sonos Inc., have their base in this region. The factor mentioned above further fuels the growth of the market in this region. On the other hand, Asia Pacific market will witness rapid growth in the coming years on account of initiatives taken by Chinese players to introduce the latest speakers with AI technology. For instance, the 2017 integrated smart speaker released by Xiaomi and Alibaba, coupled with a smart assistant called Bixby installed in galaxy home speaker by Samsung launched in early 2020, will add impetus to market growth in the future.
What are the Objectives of the Report?
The report presents a 360-degree overview of the Wireless Speakers Market and its growth parameters, including drivers, restraints, challenges, and upcoming opportunities. It also offers a detailed analysis of the market segmentation on the basis of factors such as technology, application, and geography with the names of leading segments and the factor attributed to its growth. The report also focuses on the market competition, list of players, and the strategies adopted by them to gain momentum in the market. Furthermore, significant industry developments, current wireless speakers market trends, and other interesting insights into the market are provided in the report.
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Competitive Landscape:
Advent of Customized Products will Attract More Revenue and Intensify Competition
Wireless Speakers Market manufacturers are chalking out plans to stay ahead of the competition earn high profits. Players are focusing on new product offerings and enhancements and launching customizable product designs for gaining more traction in the market. Such initiatives will help players give fierce competition to the others and attract high wireless speakers market revenue in the forthcoming years.
List of the Key Companies Operating in the Wireless Speakers Market are:
- Altec Lansing
- Amazon.com, Inc.
- Samsung electronics co., LTD
- Sonos, Inc.
- Harman International Industries, Inc.
- Apple, Inc.
- Bose Corporation
- LG Electronics
- Sony Corporation
- DEI Holdings, Inc.
- Other vendors
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Detailed Table of Content
- North America Wireless Speakers Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Technology (Value)
- Bluetooth
- Wi-Fi
- Voice-enabled speakers
- Others
- By Application (Value)
- In-door
- Out-door
- By Country (Value)
- United States
- Canada
- By Technology (Value)
- Europe Wireless Speakers Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Technology (Value)
- Bluetooth
- Wi-Fi
- Voice-enabled speakers
- Others
- By Application (Value)
- In-door
- Out-door
- By Country (Value)
- U.K.
- Germany
- France
- Scandinavia
- Rest of Europe
- By Technology (Value)
- Asia Pacific Wireless Speakers Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Technology (Value)
- Bluetooth
- Wi-Fi
- Voice-enabled speakers
- Others
- By Application
- In-door
- Out-door
- By Country (Value)
- China
- Japan
- India
- South East Asia
- Rest of APAC
- By Technology (Value)
- Middle East and Africa Wireless Speakers Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Technology (Value)
- Bluetooth
- Wi-Fi
- Voice-enabled speakers
- Others
- By Application (Value)
- In-door
- Out-door
- By Country (Value)
- GCC
- South Africa
- Rest of MEA
- By Technology (Value)
- Latin America Wireless Speakers Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Technology (Value)
- Bluetooth
- Wi-Fi
- Voice-enabled speakers
- Others
- By Application (Value)
- In-door
- Out-door
- By Country (Value)
- Brazil
- Argentina
- Mexico
- Rest of LATAM
- By Technology (Value)
FAQ:
How much is the global Wireless Speakers Market Worth?
The market is predicted to reach USD 65.65 billion by 2026 with a CAGR of 28.6% (2019 -2026)
Which region is expected to hold the major market share?
North America is expected to hold the major market share.
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