Bluetooth Speaker Market Share, Analysis, Size 2022 - 2028| Bose Corporation Inc., Harman International Industries, LG Electronics Inc.

Market Overview:
The global market for Bluetooth Speakers, which was anticipated to be worth USD 8.23billion in 2021, is expected to expand to USD 59.63 billion by 2028, with a CAGR of 32.7% throughout the analysis period.

Bluetooth speakers also known as wireless speakers are loudspeakers or eardrops that are connected wirelessly via Bluetooth or radio frequency. The Bluetooth speakers require minimum space as compared to the home theaters. This speaker runs on batteries and thus is perfect for outdoor use. Bluetooth speakers are plays media from laptops, tablets, smartphones, and any Bluetooth-enabled devices. A rechargeable lithium polymer battery is the most portable Bluetooth device. The benefits associated with Bluetooth speakers have increased durability, ease of maintenance, and good functionality. Thus, their demand is increased around the globe which provides growth for the market.

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Market Dynamics:
Driver:
The growing popularity of Bluetooth speakers among a number of people and the product compatibility is high with other consumer electronic products is the key factor that provided the growth for the Bluetooth speaker market. In this new generation, people preferred lighter, portable, and compact speakers over wired equipment. For outdoor applications, rising the demand for low-maintenance and battery-powered devices and also growing the use of Bluetooth in the audio and video business which increases the demand for products. These all factors fuel the growth of the Bluetooth speaker market.

Opportunities:
The rising trend of home theatres, smart rooms, and changing lifestyles of humans in developed, as well as developing countries, is providing a lucrative opportunity for the Bluetooth speaker market. The emergence of AI-based products such as Alexa and Echo and the growing integration of audio-based technologies with wireless connectivity. Also growing investment in research and development and in the launching of various advanced products by key players. For instance, In October 2021, Bose SoundLink Flex Bluetooth speaker was launched by Bose. This innovation offers a profitable opportunity for the Bluetooth speaker market in he forecast period.

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Market Segmentation

By portability, the portable Bluetooth speaker market is expected to grow at a significant CAGR during the forecast period. They are small and light, giving them a competitive advantage in the global market. These devices can also be readily configured with tablets or smartphones, resulting in a higher rate of acceptance in the residential market.

By pricing, the low-end segment is expected to register a significant Bluetooth speaker market share during the forecast period. End-users can successfully use low-cost versions for both residential and commercial needs. They are the favored option because they are convenient and easy to install.

By device, the traditional market is attaining maturity in developed economies. End-users are on the lookout for new products. Furthermore, because these devices are priced low, they create revenue through bulk sales. Bluetooth speakers are widely used to share music files and to play music across the home.

By end-user, the residential segment is expected to capture the maximum market share over the forecast period. Bluetooth speakers are used as home speakers in many houses. These gadgets are used to stream music from smartphones or computers.

By Portability
• Fixed
• Portable
• By Pricing

Low-End
• Medium-Range
• Premium Range

By Device
• Waterproof
• Traditional
• Rugged

By End-Users
• Residential
• Commercial

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Regional Analysis for the Bluetooth Speaker Market:

North America region is anticipated to register the maximum market share during the forecast period. North America is one of the largest markets in the music sector. The United States is the largest market in North America, with millennials driving the market. Music streaming services are becoming more popular in the region, which is driving up demand for speakers. Because of the rising prevalence of smartphones and other mobile devices, as well as the availability of online music and video streaming at the earliest, the United States had marked the commencement of early use of portable speakers. According to the Recording Industry Association of America, premium subscription streaming music revenue in the United States increased from USD 474 million in the first half of 2015 to USD 3300 million in the first half of 2019, making it the most in the world.

By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Players Covered In Bluetooth Speaker Market Are :
• Bose Corporation Inc.
• Harman International Industries
• Altec Lansing
• Best It World Pvt. Ltd. (iBall)
• Plantronics Inc.
• JVC Kenwood Corporation
• Koninklijke Philips NV
• LG Electronics Inc.
• Logitech International SA
• Samsung Corporation
• Shure Incorporated
• Sony Corporation

Key Industry Development in the Bluetooth Speaker Market:

• In August 2020, Killer Concepts, electronic accessories, and devices product provider launched ROCKsteady Stadium, a portable, AI-enabled Bluetooth speaker where users can hear the musical sounds with its original clarity.
• In June 2020, LG Electronics Inc. launched the XBOOM Go Portable Speaker line-up with its LG XBOOM Go PL Series enabled with meridian's advanced audio technology to provide premium quality sound speakers to the consumers in the USA.
• In May 2019 - Sony Corporation launched its first Bluetooth speakers focused on outdoor usage. The speaker, Sony GTK-PG10, offers 13 hours of battery backup and is equipped with The DSP (Digital Signal Processor) that auto-adjusts the sound based on its surroundings and weighs around 6.7 kg.

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Table Of Content:
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
 3.1 By Portability
 3.2 By Pricing
 3.3 By Device
 3.4 By End User
Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing
Chapter 5: Bluetooth Speaker Market by Portability
 5.1 Bluetooth Speaker Market Overview Snapshot and Growth Engine
 5.2 Bluetooth Speaker Market Overview
 5.3 Fixed
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Fixed: Grographic Segmentation
 5.4 Portable
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Portable: Grographic Segmentation
To Be Continued…..

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