The global Bluetooth speaker market grew at a CAGR of 12% during d 2014-2019. Bluetooth speakers offer several advantages over conventional wired speakers, including high compatibility, hassle-free maintenance, optimum functionality and durability, minimal space requirement and convenience for outdoor applications. Owing to these benefits, both portable and fixed Bluetooth speakers are used in device-to-device connection with smartphones, tablets, laptops, etc., for both residential and commercial purposes.
The growing popularity of Bluetooth speakers among the millennial population coupled with high product compatibility with other consumer electronic devices, has propelled the market growth. In addition to this, the increasing penetration of smartphones along with the rising influx of video and audio streaming applications, have further augmented the product demand on a global level. Moreover, the changing consumer preferences towards lighter, portable, and compact speakers instead of wired devices has fueled the demand for Bluetooth speakers. Furthermore, the increasing usage of Bluetooth in the audio and media industry along with the growing need for low-maintenance and battery-supported devices for outdoor applications has also bolstered the product demand. Apart from this, the rapid integration of Bluetooth speakers with in-car infotainment systems, hands-free calling, voice control systems, home theatre, etc., also contributes to the global market growth. Additionally, the rising consumer living standards and increasing disposable income levels have led to the growing adoption of advanced consumer electronics, such as Bluetooth speakers, particularly across the emerging economies. On the other hand, the emergence of smart homes coupled with the rapid influx of Internet-of-Things (IoT) based devices has also catalyzed the product demand across the developed nations. Various technological advancements have also led to the emergence of AI-based devices, such as Alexa, and Echo, thereby driving the market growth. Additionally, the rapid integration of audio-based technologies with wireless connectivity along with the rising investments in several R&D activities have led to various product innovations. Several manufacturers are launching a multitude of products to expand their product portfolios and attract a large consumer base. Looking forward, IMARC Group expects the market to continue its strong growth during the next five years.
Breakup by Portability:
Breakup by Type:
Smart Bluetooth Speakers
Conventional Bluetooth Speakers
Breakup by Price:
Breakup by Distribution Channel:
Supermarkets and Hypermarkets
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined with some of the key players being Bose Corporation, Edifier International Limited, Harman International Industries, LG Electronics, Panasonic Corporation, Polk Audio, Samsung, Sennheiser Electronic GmbH & Co.KG, Sony Corporation, boAt, etc.
Key questions answered in this report:
How has the global bluetooth speaker market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of Covid-19 on the bluetooth speaker market?
What is the breakup of the market based on the portability?
What is the breakup of the market based on the type?
What is the breakup of the market based on the price?
What is the breakup of the market based on the distribution channel?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the market?
What is the structure of the bluetooth speaker market and who are the key players?
What is the degree of competition in the market?