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Wireless Speakers Market Amplifies: Cutting-Edge Trends, Segment Growth, and Consumer Demand Drive Market Expansion and Competitive Dynamics
Wireless Speakers Market
Wireless Speakers Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $90.65 billion In 2028 At A CAGR Of 24.5% :
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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Wireless Speakers Market Major Segments
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
Key Driver - Portable Wireless Speakers Market Driven By Increasing Preference For Smart Portable Device
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.
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Prominent Trend - Transforming The Wireless Speakers Market With Voice-Activated Devices
Advanced technologies such as AI-assisted devices are an emerging trend in the wireless speakers market. This is mainly due to the ease of use of AI-enabled wireless speakers that provide features such as voice recognition, allowing users to control the functioning of the speakers using voice commands. The wireless speakers based on AI software use the cloud which offers a steady base for the storage of data and enables quick access to the data. Google Home Max, Amazon Echo Dot 3rd Gen and JBL Link 10 are some of the wireless smart speakers with AI technology. According to Gartner, Inc., the end-user spending on virtual personal assistant (VPA)-enabled wireless speakers is estimated to increase to $3.52 billion by 2021.
Wireless Speakers 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
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the Wireless Speakers market in 2023. The regions covered in the wireless speakers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Wireless Speakers Market Report Structure
3. Wireless Speakers Market Trends And Strategies
4. Wireless Speakers Market - Macro Economic Scenario
5. Wireless Speakers Market Size And Growth
…..
27. Wireless Speakers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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