03-14-2019 08:47 PM CET - IT, New Media & Software

Bluetooth Speaker Market is expected to reach USD 22.43 billion by 2023, at a CAGR of 37.16% over the forecast period (2018-2023)| Major Players - SONY CORPORATION, KONINKLIJKE PHILIPS N.V., BOSE CORPORATION, SHURE INCORPORATED, SAMSUNG GROUP, BEATS ELECT

Press release from: Market Prognosis

Market Analysis:

North America Holds the Largest Market Share
North America is one of the largest markets for technology-based solutions. It is further expected to be a strong player in the global economy, especially in the development and implementation of new technologies. Latest technological breakthroughs have assisted the advancement of new Bluetooth speakers.

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Bluetooth speakers have witnessed widespread adoption in the past few years, with these devices accounting for a sizeable share in the audio technology category. With the end users utilizing devices having different requirements, there is a range of Bluetooth speakers available in the market. Changing consumer demands are pushing companies to innovate to attract more consumers. Portable wireless speakers are expected to benefit from innovations in Bluetooth and battery charging technologies. The competition in this market has intensified over the years, with companies launching a multitude of products to attract consumers. Rapid innovations and increasing R&D expenditure, with new innovative applications, have boosted demand in the Bluetooth speakers market.

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Market Segments:
Bluetooth Speaker Market is segmented by:
1. Type: Portable, Fixed
2. Application: Residential, Commercial
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
•December 2017 - Sony collaborated with Khalid to combine virtual reality technologies to deliver unique music experiences. The brand campaign consists of live music events and a Virtual Reality (VR) music video.
•August 2017 - Samsung launched U Flex headphones that deliver top-notch sound experience. These headphones are equipped with premium sound technology and smart connectivity features.

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