On account of these factors, the market is projected to exhibit a CAGR of 19.1% during the forecast period (2022-2027).
SHERIDAN, WY, UNITED STATES, November 29, 2022 /EINPresswire.com/ — According to the latest report by IMARC Group, titled “Bluetooth Speaker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global Bluetooth speaker market size reached US$ 10.1 Billion in 2021. On account of these factors, the market is projected to exhibit a CAGR of 19.1% during the forecast period (2022-2027).
Bluetooth speakers represent wireless audio devices that offer numerous benefits over conventional wired speakers, including hassle-free maintenance, optimum functionality and durability, high compatibility, minimal space requirement, convenience for outdoor applications, etc. In line with this, they can be easily connected with other Bluetooth-enabled instruments, such as laptops, tablets, smartphones, etc. Consequently, portable and fixed variants are extensively used in device-to-device connection for both residential and commercial purposes.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Bluetooth Speaker Market Trends:
The increasing penetration of smartphones, high-speed internet, and the internet of things (IoT)-based devices and the widespread adoption of video and audio streaming applications are among the key factors stimulating the bluetooth speaker market. Additionally, the shifting consumer preferences from traditional wired instruments towards lighter, portable, and compact speakers are positively influencing the global market. Besides this, the inflating popularity of Bluetooth speakers among the millennial population, owing to their compatibility with other consumer electronic devices, is acting as another significant growth-inducing factor.
Moreover, the rising need for low-maintenance and battery-supported devices and the introduction of novel consumer electronics, such as Bluetooth speakers, are further propelling the market growth. Apart from this, the growing integration of Bluetooth speakers with hands-free calling, voice control systems, in-car infotainment systems, home theatre, etc., the emerging trend of smart homes, and extensive investments in R&D activities by leading manufacturers are also catalyzing the global market. Furthermore, the development of AI-based equipment, including Alexa and Echo, as well as audio-based technologies, on account of various technological advancements, is expected to fuel the bluetooth speaker market over the forecasted period.
Bluetooth Speaker Market 2022-2027 Competitive Analysis and Segmentation:
Key Market Segmentation:
Based On Portability:
Based On Type:
Smart Bluetooth Speakers
Conventional Bluetooth Speakers
Based On Price:
Based On Distribution Channel:
Supermarkets and Hypermarkets
Middle East and Africa
Edifier International Limited
Harman International Industries
Sennheiser Electronic GmbH & Co.KG
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Key Highlights of the Report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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