Press release
With 15.9% CAGR, Bluetooth Speaker Market Growth to Surpass US$ 57.3 Billion During 2024-32
How Big is the Bluetooth Speaker Market?
The global bluetooth speaker market size reached US$ 14.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 57.3 Billion by 2032, exhibiting a growth rate (CAGR) of 15.9% during 2024-2032.
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What is Bluetooth Speaker?
Bluetooth speakers are wireless audio devices that allow users to play music, audio, or any other type of sound through Bluetooth-enabled devices, such as smartphones, tablets, or computers. They are typically made up of a speaker driver, an amplifier, and a Bluetooth chip to receive and decode the audio signal from a Bluetooth-enabled device. Some variants may also include additional features, such as volume controls, voice assistants, and a microphone, for making hands-free calls. When compared with traditional speakers, Bluetooth speakers offer portability, ease of use, high-quality sound, convenience, and compatibility with multiple devices. Currently, numerous product variants are available in the market, including portable speakers, outdoor speakers, smart speakers, and soundbars.
Global Bluetooth Speaker Market Trends:
The primary factor accelerating the market growth is the growing popularity of streaming music services, such as Spotify and Pandora. Another major market driver includes the rising demand for wireless technology and the rapid penetration of smartphones. In line with this, key market manufacturers are introducing advanced product variants, such as portable speakers integrated with a voice-control feature, to increase their consumer base, which is creating a positive outlook for the market. Furthermore, the surging popularity of smart home technology, such as Amazon Echo and Google Home, and the increasing trend of outdoor activities and events are providing a considerable thrust to the market growth.
Leading Companies Operating in the Global Bluetooth Speaker Industry:
• Bose Corporation
• Edifier International Limited
• Harman International Industries
• LG Corporation
• Panasonic Corporation
• Polk Audio
• Samsung
• Sennheiser Electronic GmbH & Co.KG
• Sony Corporation
• boAt
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
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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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