Market Insight-Global Bluetooth Speakers Market Overview 2022
The Global Bluetooth Speakers Market Size was estimated at USD 5718.60 million in 2021 and is projected to reach USD 6938.10 million by 2028, exhibiting a CAGR of 2.80% during the forecast period.– Bossonresearch.com
Bluetooth technology is the global wireless standard for exchanging data over short distances and enabling the Internet of Things (IoT). The technology makes use of short-wavelength UHF radio waves in the ISM band from 2.4 to 2.485 GHz from fixed and mobile devices and building personal area networks (PANs). Bluetooth speakers are used for playing music or other forms of audio files through a wireless connection. The audio industry is now trying to meet the rising demand for wireless speakers.
According to Bosson Research, the Global Bluetooth Speakers Market Size was estimated at USD 5718.60 million in 2021 and is projected to reach USD 6938.10 million by 2028, exhibiting a CAGR of 2.80% during the forecast period. Increased access to online streaming services along with easy availability of large data storage on phones, tablets, and laptops have enabled consumers to use Bluetooth speakers more conveniently and easily. Small- and medium-sized speakers can be easily carried and transported in any place, while large-sized products are suitable for at-home stationary devices. Rising penetration of Wi-Fi-based networks along with the increasing proliferation of connected devices has surged the demand for wireless connectivity features in urban households. Moreover, the ability of speakers of providing wireless connectivity has now been a prominent factor driving the market. This trend has benefitted the development of smart speakers. For instance, the sales of the devices witnessed a 50% growth from 2016-17 to 2018-19 on a global level.
Over the past few years, improved wireless connectivity functions have been incorporated across all the speaker categories including sound bars, mobile docking speakers, and wall units. Therefore, increasing demand for sophisticated speakers is encouraged by the enhanced video quality. Moreover, changing consumer lifestyles and the need for entertainment have resulted in the rising adoption of high-end home theater systems. As a result, it creates a potential market for subwoofer systems, in-wall speakers, and sound bars.
Figure Global Bluetooth Speakers Market Size
Source: Bossonresearch.com, 2022
Segment Market Analysis by Application
Residential was the largest application segment in 2018. Rising adoption of home theatre systems and smart homes have resulted in increased acceptance of portable Bluetooth speakers. Changing consumer lifestyle are driving the market in this segment. With the growing number of home entertainment systems, manufacturers are focusing on continuous R&D and product launches to gain a competitive edge.
For instance, March 2019, Harman International Industries, Inc. launched JBL GO+ Bluetooth speaker with enhanced features, such as noise cancellation speakerphone for conference calls. In the same period, Sound One launched DRUM portable waterproof Bluetooth speakers. In January 2019, ULTIMATE EARS launched Boom 3 in three dual-toned colors with a convenience button for music control.
Commercial application is projected register a CAGR of 11.6% from 2019 to 2025. Commercial, as well as niche, applications have paved the way for the demand from defense and automotive sectors. Furthermore, the industrial sector also plays a significant role in driving the demand for commercial devices. New product launches in commercial applications is expected to remain a key market trend. In January 2016, Intex Technologies launched high decibel 4.1 speakers, IT-Star 14000 SUF, with Bluetooth connectivity.
Competitive Landscape
The bluetooth speaker market is fragmented. Established brands have begun to provide Bluetooth speakers with advanced features and designs. Local players are offering products with equivalent characteristics at lower prices to compete in the market.
Key players in the Bluetooth Speakers Market include:
Samsung (Harman, JBL etc brands)
Bose
Sony
Apple (Beats)
Poineer
Sennheiser
Voxx (Audiovox Corporation)
Yamaha
Sonos
Logitech
Panasonic
Philips
Klipsch
Altec Lansing
Skullcandy
LG
Bowers & Wilkins
Creative
Anker
DEI Holdings (Polk Audio)
Scosche
HMDX Audio
Fugoo
iSound
Urbanista
Braven
Doss
Edifier
Sage Human Electronics International Co
Kingree
WYN-World
Request for more information
Click to view the full report TOC, figure, and tables: https://www.bossonresearch.com/productinfo/1278737.html
About US:
Bosson Research (BSR) is a leading market research and consulting company, that provides market intelligence, advisory service, and market research reports for the automobile, electronics and semiconductor, and consumer good industry. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domains.
Bosson Research provides a one-stop solution right from data collection to investment advice. The analysts at Bosson Research (BSR) dig out factors that help clients understand the significance and impact of market dynamics. Bosson Research (BSR) brings together the deepest intelligence across the widest set of capital-intensive industries and markets. By connecting data across variables, our analysts and industry specialists present our customers with a richer, highly integrated view of their world.
Contact US:
Tel: +86 400-166-9288
E-mail: sales@bossonresearch.com
© 2022 Bosson Research, Inc. All rights reserved.
Copyright
All content including the presentation thereof on this website is the property of Bosson Research, Inc. and protected by the U.S. and international copyright laws. You may not copy, reproduce, distribute, transmit, modify, create derivative works, or in any other way exploit any part of copyrighted material without the prior written permission from Bosson Research, Inc.
