Global Bluetooth Speaker Market Size, Status and Forecast 2021-2025
The Bluetooth Speaker Market report provides a unique tool for evaluating the market, highlighting opportunities, and supporting strategic and tactical decision-making. This report recognizes that in this rapidly-evolving and competitive environment, up-to-date Marketing information is essential to monitor performance and make critical decisions for growth and profitability. It provides information on trends and developments and focuses on market capacities and on the changing structure of the Bluetooth Speaker.
The bluetooth speaker market was valued at USD 6.49 billion in 2019, and it is expected to reach USD 48.52 billion by 2025, at a CAGR of 40.38%, over the forecast period (2020-2025).
– Bluetooth speakers have witnessed widespread adoption in the past few years, with these devices accounting for a sizeable share in the audio technology category. Bluetooth speakers come in many shapes and sizes, meeting the requirements of the consumers. With the end users utilizing the devices having different requirements, there is a range of bluetooth speakers available in the market.
– Rapid innovations and increasing R&D expenditure with new innovative applications have boosted the demand in the bluetooth speakers market. The growing penetration of smartphones and increasing consumer awareness have further boosted the demand for bluetooth speakers, worldwide.
– Advanced technologies, such as AI-assisted devices, are expected to influence the growth of the market in the coming years. Products, such as Amazon Alexa and Google Echo, are having high demand in the market. Thus, many manufacturers are looking to integrate these technologies to gain consumers.
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Top Leading Companies of Global Bluetooth Speaker Market are Sony Corporation, Koninklijke Philips NV, Bose Corporation, Harman International Industries, Panasonic Corporation, Shure Incorporated, Beats Electronics LLC, LG Electronics Inc., Best IT World Pvt Ltd (iBall), Logitech International and others.
Industry News and Updates:
– April 2019 – Harman a wholly-owned subsidiary of Samsung Electronics Co. Ltd. focused on connected technologies for the automotive, consumer, and enterprise markets, showcases its Premium Communications solution for the first time in China at the Shanghai Auto Show. Premium Communications is a first-of-its-kind modular offering designed to elevate present in-vehicle communication environment. Premium Communications enables clear, frustration-free conversations for all occupants within a vehicle.
– January 2019 – Sony announced an all new music experience called “360 Reality Audio” that makes listeners feel as if they are immersed in sound from all directions. The new experience is delivered by Sony’s object-based spatial audio technology and was announced at CES 2019 in Las Vegas.
Key Market Trends:
Portable Bluetooth Speaker is the Fastest Growing Segment
– Portable Bluetooth speakers are devices that are comparably smaller, lighter, and can be moved anywhere. Portable speakers come in many shapes and sizes. Sound bars, tubes, and clips are some of the most widely consumed models in the market.
– Changing consumer dynamics in the market and increasing preference by the consumers toward portable devices are supporting the growth of the market.
– The growth of audio streaming technology in various application, like the wireless speakers and in-car-infotainment systems, is driving the portable bluetooth speaker market.
– The audio streaming technology can be used in point-to-point topology available on bluetooth BR/EDR that is optimized for audio streaming, making it the standard-bearer in wireless audio.
– According to the Bluetooth.com, with the increasing bluetooth usage in the audio and entertainment industry, 8 out of 10 speakers may include bluetooth by the end of 2022. Additionally, the smart speaker market is expected to grow by three times by the end of 2022.
Asia-Pacific to Witness the Fastest Growth Rate
– Asia-Pacific, being the most populated region, is the major developing region and is expected to record the maximum growth rate over the forecast period, 2019-2024.
– The increasing disposable incomes and technological developments in countries, such as China, India, Japan, and South Korea, help in the growth of the bluetooth speakers market in Asia-Pacific.
– The increasing number of companies, to meet the growing demand and large availability of products, is expected to drive the market at a high rate in Asia-Pacific.
– With increasing sales of smartphone and wide adoption of technology, the bluetooth speaker sales are rising in this region.
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Highlights of the Bluetooth Speaker Market Report:
– Detailed overview of Bluetooth Speaker Market
– Changing the Bluetooth Speaker market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current and projected Bluetooth Speaker market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Bluetooth Speaker Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth.
The research includes historic data from 2016 to 2021 and forecasts until 2025 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Finally, the Bluetooth Speaker Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Bluetooth Speaker industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.
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