Dublin, Sept. 02, 2022 (GLOBE NEWSWIRE) -- The "Bluetooth Speaker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global bluetooth speaker market reached a value of US$ 10.1 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 30.4 Billion by 2027, exhibiting a CAGR of 19.1% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Bluetooth speakers offer several advantages over conventional wired speakers, including high compatibility, hassle-free maintenance, optimum functionality and durability, minimal space requirement and convenience for outdoor applications. Owing to these benefits, both portable and fixed Bluetooth speakers are used in device-to-device connection with smartphones, tablets, laptops, etc., for both residential and commercial purposes.
The growing popularity of Bluetooth speakers among the millennial population coupled with high product compatibility with other consumer electronic devices, has propelled the market growth. In addition to this, the increasing penetration of smartphones along with the rising influx of video and audio streaming applications, have further augmented the product demand on a global level.
Moreover, the changing consumer preferences towards lighter, portable, and compact speakers instead of wired devices has fueled the demand for Bluetooth speakers. Furthermore, the increasing usage of Bluetooth in the audio and media industry along with the growing need for low-maintenance and battery-supported devices for outdoor applications has also bolstered the product demand. Apart from this, the rapid integration of Bluetooth speakers with in-car infotainment systems, hands-free calling, voice control systems, home theatre, etc., also contributes to the global market growth.
Additionally, the rising consumer living standards and increasing disposable income levels have led to the growing adoption of advanced consumer electronics, such as Bluetooth speakers, particularly across the emerging economies. On the other hand, the emergence of smart homes coupled with the rapid influx of Internet-of-Things (IoT) based devices has also catalyzed the product demand across the developed nations.
Various technological advancements have also led to the emergence of AI-based devices, such as Alexa, and Echo, thereby driving the market growth. Additionally, the rapid integration of audio-based technologies with wireless connectivity along with the rising investments in several R&D activities have led to various product innovations. Several manufacturers are launching a multitude of products to expand their product portfolios and attract a large consumer base.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global bluetooth speaker market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on portability, type, price and distribution channel.
Breakup by Portability:
- Portable
- Fixed
Breakup by Type:
- Smart Bluetooth Speakers
- Conventional Bluetooth Speakers
Breakup by Price:
- Low
- Medium
- High
Breakup by Distribution Channel:
- Specialty Stores
- Supermarkets and Hypermarkets
- Departmental Stores
- Online
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
- Turkey
- Saudi Arabia
- Others
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
5 Global Bluetooth Speaker Industry
6 Market Breakup by Portability
7 Market Breakup by Type
8 Market Breakup by Price
9 Market Breakup by Distribution Channel
10 Market Breakup by Region
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Competitive Landscape
Companies Mentioned
- Bose Corporation
- Edifier International Limited
- Harman International Industries
- LG Corporation
- Panasonic Corporation
- Polk Audio
- Samsung
- Sennheiser Electronic GmbH & Co.KG
- Sony Corporation
- boAt
For more information about this report visit https://www.researchandmarkets.com/r/ruq3v5
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