Press release
Bluetooth Speaker Market Size Witnesses Robust Growth Rate of CAGR 18.2%, Exceeding US$ 35.7 Billion by 2028
Report Highlights
How big is the bluetooth speaker market?
The global bluetooth speaker market size reached US$ 12.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 35.7 Billion by 2028, exhibiting a growth rate (CAGR) of 18.2% during 2023-2028.
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What is bluetooth speaker?
Bluetooth speakers are wireless audio gadgets that enable individuals to stream music, audio, or any other form of sound from Bluetooth-capable devices like smartphones, tablets, or computers. Typically, they consist of a speaker driver, an amplifier, and a Bluetooth chip for receiving and decoding audio signals from Bluetooth-enabled devices. Some models may also incorporate additional features, such as volume adjustment, voice assistants, and a built-in microphone for hands-free calls. In comparison to traditional speakers, Bluetooth speakers provide advantages like portability, user-friendliness, high-quality audio, convenience, and compatibility with various devices. Currently, the market offers a wide array of product options, including portable speakers, outdoor speakers, smart speakers, and soundbars.
What are the growth prospects and trends in the bluetooth speaker industry?
The main catalyst propelling market expansion is the increasing favorability of streaming music services like Spotify and Pandora. Another significant force driving the market forward is the growing demand for wireless technology, coupled with the widespread adoption of smartphones. In response to these trends, major market manufacturers are introducing advanced product variations, such as portable speakers with built-in voice control, in order to expand their customer base. This development is contributing to a positive outlook for the market. Additionally, the rising popularity of smart home technology exemplified by products like Amazon Echo and Google Home, along with the growing trend of outdoor activities and events, are exerting substantial momentum on market growth.
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Who are the key players operating in the industry?
The report covers the major market players including:
Bose Corporation
Edifier International Limited
Harman International Industries
LG Corporation
Panasonic Corporation
Polk Audio
Samsung
Sennheiser Electronic GmbH & Co.KG
Sony Corporation
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Key Market Segmentation:
The report has segmented the global bluetooth speaker market on the basis of portability, type, price, distribution channel and region.
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
Asia Pacific
Europe
Latin America
Middle East and Africa
Key Highlights of the Report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
Phone: +1-631-791-1145
Address: 134 N 4th St
City: Brooklyn
State: NY
Country: United States
Website: https://www.imarcgroup.com
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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