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Wireless Speakers Market Size, Growth, Market Analysis, Segmentation, And Forecast To 2033
Wireless Speakers Market Size
As per the report, 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 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%.
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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.
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.
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
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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
Contents of the report:
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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