Bluetooth Speaker Market Size, Share, Growth Analysis, By Type(Portable, Fixed), By Application(Residential, Commercial), By Distribution Channel(Online, Offline) - Industry Forecast 2024-2031

Global Bluetooth Speaker Market size was valued at USD 7.95 billion in 2022 and is poised to grow from USD 8.97 billion in 2023 to USD 23.50 billion by 2031, growing at a CAGR of 12.8% during the forecast period (2024-2031).

Speakers that can connect to any device using Bluetooth are known as Bluetooth speakers. The growing popularity and adoption of wireless technologies around the world to eliminate the hassle of cords and wires have led to increased sales of Bluetooth speakers. The rising number of people using online streaming to access content, the growing use of Bluetooth speakers to interact with voice assistants in smart homes, and the increasing proliferation of technology in all walks of life are other factors that are slated to uplift Bluetooth speaker demand in the future. Increasing launches of new and advanced speakers with advanced Bluetooth technologies around the world are also contributing to market growth over the coming years.

The rising number of people participating in outdoor activities requiring portable music speakers is also slated to create new opportunities for Bluetooth speaker vendors in the future. High demand for smart speakers in homes, offices, and other infrastructure is also slated to bolster market growth in the long run. Speakers with prolonged battery life, quick charging, smart connectivity, and improved audio quality are predicted to be highly popular among residential as well as commercial users around the world.