Bluetooth Speakers Market Report, Size Segments and Growth 2021: Research Strategies with Share Analysis, Top Key Players with Opportunities Forecast (2021-2027)
Global Bluetooth Speakers Market is expected to reach the market valuation of USD 12.2 Billion by 2027 expanding at a reasonable CAGR of 10.57% during the forecast period (2021-2027) from USD 5.3 Billion in 2020. The adoption of next-generation technology that provides better connectivity is expected to boost demand for Bluetooth speakers. The Bluetooth speaker market has increased in popularity across the world, thanks to high internet penetration and the convenience of purchasing connected devices through a variety of online distribution channels.
The Bluetooth Speakers market is expected to
see a rise due to an increase in per capita disposable income, which will drive
overall demand for a variety of electronic appliances among professionals and
homeowners. Digitalization is projected to have a positive impact on the
Bluetooth speakers market. Across the globe, the idea of video streaming on OTT
media service and social media is gaining traction. With more people connecting
to the internet and using Wi-Fi, streaming is becoming more common and is
likely to drive the market over the analyzed period. For instance:
Netflix in its earnings report announced that it had reached 200 million paid
memberships worldwide, further it mentioned that the company added 8.5 million
paid subscribers in Q4, bringing the total number of paid subscribers to 37
million by 2020.
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Based on device type,
the market is fragmented into traditional, waterproof, and rugged. Amongst device types, the waterproof segment held the largest share in the
Bluetooth speakers market owing to its increasing demand and was valued at USD X
Billion in 2020 and is likely to reach USD X Billion by 2027 growing at a CAGR
of X% from 2021-2027. For instance, the demand for waterproof speakers has
increased in countries such as the U.S. and West European regions because of
their easy portability for outdoor areas and fast charging.
Based on the distribution, the market is bifurcated
into Online and Offline. Consumers are tending more towards e-markets because
of the easy availability of a wide range of products at affordable prices with
offers and home delivery. Owing to these reasons, the Online segment among the distribution channel accounted for a market
valuation of USD X Billion in 2020 and is expected to reach USD X Billion by
the year 2027, at a CAGR of X% over the analyzed period.
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Based on price, the market is classified as
Low-end, Medium-Range, and Premium Range. Low-end models are more preferred in
commercial and
residential sectors because of their convenience and easy installation.
Additionally, they are portable with good sound quality and cost-effective. Due to these reasons, the low-end segment generated revenue of USD X Billion
in 2020 and is expected to grow at a CAGR of X% during the forecast period to
reach a market valuation of USD X Billion by 2027.
Based on portability, the market is divided
into fixed and portable. The portable segment
generated revenue of USD X Billion in
2020 and is expected to grow at a CAGR of X% during the forecast period to
reach a market valuation of USD X Billion by 2027F as the consumers are more attracted to easy, wireless devices with easy portability
and a wide array of functionality.
Based on the application the market is segmented into
residential and commercial. In 2020, the Residential segment grabbed a major share
of the market because of the increased popularity of Bluetooth speaking devices
for various purposes such as setting alarms, listening to podcast, music, home
systems; etc., and the increase in popularity of smart
devices is also acting as a catalyst to the market growth. Owing to this
the residential segment valued at USD X Billion in 2020 and is likely
to reach USD X Billion by 2027 growing at a CAGR of X% from 2021-2027.
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For a better understanding of the market
adoption of the Bluetooth speakers, the market is analyzed based on its
worldwide presence in the countries such as North America (United States,
Canada, and the Rest of North America), Europe (Germany, Italy, UK, France,
Spain, Others), Asia-Pacific (China, Japan, India, Australia, and Others), and
Rest of the world. Owing to the increasing per capita spending of the consumers
and increased popularity among millennials in the North American region the
market is valued at USD X Billion in 2020 and is likely
to reach USD X billion by 2027 growing at a CAGR of X% from 2021-2027.
Some of the major players operating in the market include Apple, Bose,
Samsung, Sony Corporation, Panasonic, Skullcandy, Harman international
industries inc., Plantronics Inc., VOX-X electronics corp., amazon.com inc. Several M&A’s along with partnerships have been undertaken by
these players in the Bluetooth Speakers market
Global Bluetooth Speakers Market Segmentation
Market Insight, by Device
· Waterproof
· Rugged
Market Insight, by Distribution
· Offline
Market Insight, by Price
· Medium
Ranged
· Premium
Ranged
Market Insight, by Portability
·
Non-Portable
Market Insight, by Application
·
Commercial
Market Insight, by Region
·
North America
o
United States
o
Canada
o
Rest of North America
·
Europe
o
France
o
Germany
o
Italy
o
Spain
o
United Kingdom
o
Rest of Europe
·
Asia-Pacific
o
China
o
Japan
o
India
o
Australia
o
Rest of Asia-Pacific
·
Rest of World
Top Company Profiles
·
Bose
·
Samsung
·
Sony Corporation
·
Panasonic
·
Skullcandy
·
Harman
international industries inc.
·
Plantronics
Inc.
·
VOX-X
electronics corp.
·
Amazon
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Market Insights
UnivDatos
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Client Development Lead
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Labels: Bluetooth Speakers Market
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