Press release
Wireless Speakers Market Share, Latest Trends, Size, Industry Overview, Forecast 2024-2033
Wireless Speakers
The Business Research Company presents an extensive market research report on the Wireless Speakers Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The wireless speakers market size has grown exponentially in recent years. It will grow from $30.43 billion in 2023 to $37.69 billion in 2024 at a compound annual growth rate (CAGR) of 23.9%. The growth in the historic period can be attributed to rising demand for portable audio solutions, growing connectivity needs, increasing disposable income, lifestyle changes, social trends and gatherings.
The wireless speakers market size is expected to see exponential growth in the next few years. It will grow to $90.65 billion in 2028 at a compound annual growth rate (CAGR) of 24.5%. The growth in the forecast period can be attributed to rising smart home integration, rising popularity of outdoor activities, innovations in design and aesthetics, environmental consciousness, changing content consumption patterns. Major trends in the forecast period include enhanced battery life, gesture and touch controls, innovations in portability, customizable sound profiles, collaborations with high-end brands.
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Key Market Players:
Major companies operating in the wireless speakers market report are Apple Inc., Alphabet, Samsung Electronics Co. Ltd, Panasonic Corporation., Telefónica, Xiaomi, Sharp Corporation, Koninklijke Philips N.V., Harman International Industries, Logitech International, YAMAHA Corporation, Bose Corporation, DOSS, LG Electronics India Private Limited, Sonos Inc, Plantronics, Sony India Pvt. Ltd, VOXX Electronics Corp, Sennheiser electronic GmbH & Co. KG., Altec Lansing, Skullcandy, Beats Electronics LLC., Creative Technology Ltd, Best IT World (India) Pvt. Ltd, Braven, Polk Audio, Avnera, James Bullough Lansing, Paionia Kabushiki-gaisha., Logitech International S.A., Bang & Olufsen Group, Sound United LLC, Marshall Amplification, GP Acoustics International Ltd., Vizio Inc., Anker Innovations Co. Ltd, Libratone A/S, Devialet SAS., Klipsch Audio Technologies
Market Drivers:
The increase in preference for portable speakers is an important driver for the wireless speakers market. This is mainly because wireless speakers come at affordable prices and are convenient to use. In addition, increasing smartphone penetration has led to an increase in preference for swift functionality in the form of smart portable devices, resulting in the further use of the portable wireless speaker. According to the report published by Comscore, Inc., a US-based media measurement and analytics company, nearly 50% of internet users owned at least one smart speaker in 2021, marking the highest level of smart speaker ownership.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/wireless-speakers-global-market-report
The wireless speakers market covered in this report is segmented -
1) By Product: Bluetooth Speakers, Wifi-Speakers
2) By Type: Fixed, Portable
3) By End User: Residential, Commercial
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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