Press release
Soaring Demand Set to Propel Wireless Speakers Market to $111.25 Billion by 2029
Wireless Speakers
Wireless Speakers Market Size Growth Forecast: What to Expect by 2025?
In recent times, the wireless speakers market has experienced substantial expansion. The market size is expected to increase from $37.14 billion in 2024 to $45.71 billion in 2025, growing at a compound annual growth rate (CAGR) of 23.1%. The key factors contributing to this growth during the historic period include surging requirement for portable audio systems, expanding connectivity demands, rise in disposable income, lifestyle evolution, and social patterns and gatherings.
How Will the Wireless Speakers Market Size Evolve and Grow by 2029?
One can forecast an incredible surge in the wireless speakers market size in the coming years, expanding to be worth $111.25 billion in 2029, growing at a compound annual growth rate (CAGR) of 24.9%. The anticipated growth during this period can be traced back to factors like the rise of integrated smart homes, increased interest in outdoor activities, design and aesthetic advancements, greater environmental awareness, and evolving content consumption habits. The major anticipated trends for this period include enhanced battery duration, the introduction of gesture and touch controls, innovation in transportability, bespoke sound profiles, and partnerships with upmarket brands.
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What Drivers Are Propelling the Growth of Wireless Speakers Market Forward?
The increasing trend of smart home devices is anticipated to fuel the expansion of the wireless speakers market in the future. These electronic devices and appliances, which connect to a home network and can be operated remotely via smartphones, tablets, or voice assistants, are known as smart home devices. They are associated with better convenience, optimized energy efficiency, bolstered security, and more control over home settings thanks to connectivity and automation. Wireless speakers assist these smart home devices by serving as primary centers for voice control and audio streaming. This allows users to interact with other smart devices using voice commands, play music or audio around the house, and seamlessly merge into home automation systems for an integrated, user-friendly environment. For example, RubyHome, a US-based real estate firm, stated in August 2023 that in the US, 63.43 million households utilize smart home devices, and approximately 7 out of 10 homebuyers are open to purchasing a smart home. Consequently, the growing appeal of smart home devices is spurring the expansion of the wireless speakers market.
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Which Emerging Trends Are Transforming the Wireless Speakers Market in 2025?
The adoption of sophisticated technologies like AI-assisted devices is swiftly gaining traction in the wireless speakers industry, primarily because of the convenience brought about by AI-powered wireless speakers. These devices come with voice recognition capabilities, letting users manipulate the speakers' operation via voice instructions. These AI-based wireless speakers also utilize the cloud, providing a reliable platform for data storage and swift data retrieval. As an illustration, Sonos Inc., a company from the U.S. that manufactures audio equipment, unveiled Sonos Voice Control in June 2022. This voice interface, intended for music and Sonos systems operation, significantly values privacy, processing voice instructions exclusively on the device, thus preventing the sending of audio or transcripts to the cloud.
What Are the Key Segments in the Wireless Speakers Market?
The wireless speakers market covered in this report is segmented -
1) By Product: Bluetooth Speakers, Wi-Fi-Speakers
2) By Type: Fixed, Portable
3) By End User: Residential, Commercial
Subsegments:
1) By Bluetooth Speakers: Portable Bluetooth Speakers, Home Bluetooth Speakers, Outdoor Bluetooth Speakers
2) By Wi-Fi Speakers: Multi-Room Wi-Fi Speakers, Smart Wi-Fi Speakers, Soundbars With Wi-Fi
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Who Are the Key Players Shaping the Wireless Speakers Market's Competitive Landscape?
Major companies operating in the wireless speakers market include Apple Inc., Alphabet, Samsung Electronics Co. Ltd, Panasonic Corporation., Telefónica, Xiaomi, Sharp Corporation, Koninklijke Philips N.V., Harman International Industries, Logitech International, YAMAHA Corporation, Bose Corporation, DOSS, LG Electronics India Private Limited, Sonos Inc, Plantronics, Sony India Pvt. Ltd, VOXX Electronics Corp, Sennheiser electronic GmbH & Co. KG., Altec Lansing, Skullcandy, Beats Electronics LLC., Creative Technology Ltd, Best IT World (India) Pvt. Ltd, Braven, Polk Audio, Avnera, James Bullough Lansing, Logitech International S.A., Bang & Olufsen Group, Sound United LLC, Marshall Amplification, GP Acoustics International Ltd., Vizio Inc., Anker Innovations Co. Ltd, Libratone A/S, Devialet SAS., Klipsch Audio Technologies
What Geographic Markets Are Powering Growth in the Wireless Speakers Market?
Asia-Pacific was the largest region in the Wireless Speakers market in 2024. The regions covered in the wireless speakers' market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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