Bluetooth Speaker Market 2023 Outlook in New Research Report

The US Bluetooth speaker market size is expected to generate revenues of over $3 billion by 2023, growing at an impressive CAGR of around 11% 2018–2023.

This market research report on US Bluetooth speaker market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by product (traditional speaker, waterproof speaker, and rugged speaker), by price range (low-end, mid-range, and premium), by end-user type (residential users and commercial users), by portability (fixed and portable), and by distribution channel (online and retail).

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The major vendors in the US market are:
• Bose
• HARMAN International
• Beats
• Sony

US Bluetooth Speaker Market Overview:

The increasing growth of the music industry and the introduction of various streaming services such as Apple Music, Pandora, and Spotify is contributing to the revenues in the US Bluetooth speaker market. The rising adoption of subscription music services by end-users is augmenting the growth of the US market. The growing investment in the development of Bluetooth technology that helps vendors includes additional features such as low power mode, HD data streaming, and improvement in the range will boost the demand for these wireless speakers in the US market. The introduction of industry grade connectivity solutions, mesh networking technology, and rapid advancements are some of the primary factors attributing to the growth of US market. The growing preference of connected and smart devices led to the evolution of the market in the US.

US Bluetooth Speaker Market Dynamics: The rapid advancements in battery technology are propelling the development of the US Bluetooth speaker market. The integration of lithium-ion batteries will improve the performance of these speakers in the US market. The increasing R&D for alternative electrode materials to improve the cost, performance, and energy density of lithium-ion batteries will boost the adoption of this technology in the US market. The introduction of speakers that can run continuously up to 16 to 24 hours in a single charge will revolutionize the US market during the forecast period.

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US Bluetooth Speaker Market Segmentation:

This market research report includes a detailed segmentation of the market by products, price range, end-users, portability, and distribution channel.

US Bluetooth Speaker Market By Product Type:

Introduction of waterproof and water resistant speakers will boost the demand in the US Bluetooth speaker market during 2018-2023

The US Bluetooth speaker market by end-users is divided into residential and commercial end-users. Residential end-users segment dominated more than half of the market share in 2017, growing at a CAGR of approximately 13% during the forecast period. This segment comprises of individuals who buy these wireless speakers for home use or residential purposes in the US market. The growing number of smart home users is propelling the demand for these devices in this segment in the US market. These speakers find their application as home speakers in households.

Key Topics Covered:
1. Prominent Players in the US Bluetooth Speaker Market
2. Market Segmentation by Product Type
3. Market Segmentation by Price Range
4. Market Segmentation by End-User Type
5. Market Segmentation by Portability
6. Market Segmentation by Distribution Channel

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This release was published on openPR.