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This Wireless Speaker market research report includes a detailed segmentation of the market by connectivity type, price range, end-user type, distribution channels, and geography.This wireless speaker market research report offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by connectivity type (Bluetooth speaker and wifi-speakers), by price range (low-end, mid-range, and premium), by end users (residential and commercial end-users), by distribution (retail and online), and by geography (North America, Europe, APAC, Latin America, and MEA)
The major vendors in the global market are: Alibaba Group, Alphabet (Google), Amazon.com, BEATS Electronics (Apple), Bose, HARMAN International (Samsung), Sonos & Sony
The key countries profiled in the report are: US, Canada, UK, Germany, France, China, Japan, Australia, South Korea & Brazil
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The development of wireless connectivity technologies such as Bluetooth and Wi-Fi to connect to smartphones, tablets, PCs, or any other dedicated wireless controller is propelling the growth of the global wireless speaker market. The introduction of Bluetooth speakers and Wi-Fi speakers is changing the technological landscape in the global market.
The growing demand for innovative audio equipment is encouraging the leading players to launch new products in the market to attract new consumers. The introduction of sound reinforcement equipment that supports various technologies such Bluetooth Low Energy (BLE), and Basic Rate/Enhanced Data Rate (BR/EDR) will enable vendors to manufacture products that are flexible to the needs of the consumers in the global market.
The launch of smart speakers that provide ease-of-use along with a taste of innovation is transforming the market. The development of Europe, North America, and APAC economy is boosting the demand for consumer durable products, thereby driving the requirement for improved products in the global market. The rising awareness of wireless and remote speakers in the residential sectors of emerging nations will have a positive impact on the global market. The increasing per capita income, rising number of dual-income households, and growing spending on innovative devices are some of the factors augmenting the growth of the global wireless speaker market.
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The increasing adoption of smart homes and implementation of connected devices is contributing to the revenues in the global market. The proliferation of online retailers such as Amazon, JD.com, and eBay offering products from several key vendors will result in the evolution of the global market. The global wireless speakers market is projected to reach revenues of more than $27 billion by 2023, growing at a CAGR of approximately 17% during the forecast period. The report also provides market size details in terms of unit shipment during the forecast period.
The global wireless speaker market by connectivity type is segmented into (Bluetooth speaker (traditional Bluetooth speaker, waterproof Bluetooth speaker, and rugged Bluetooth speaker) and Wi-Fi speaker (Wi-Fi only speaker, hybrid speaker, smart speakers, non-smart speakers, singleroom speaker, and multiroom speaker). The Wi-Fi speaker segment dominated largest market share in 2017, growing at a CAGR of around 20% during the forecast period.
The growing demand for the smart speaker is boosting the growth of this segment both in terms of unit shipment as well as revenue in the global market. The increasing popularity of multiroom speakers will augment the growth of the wifi wireless speakers in the global market. Various futuristic inventions in the mainstream voice-first and complementary technologies are expected boost investor’s confidence and boost VC funding in the global market during the forecast period. The leading vendors are focusing on integrating advanced features and developing their product portfolio with upgrades to gain a larger global wireless speaker market size over the next few years.
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