Global Bluetooth Speaker Market

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

Report ID: SQMIG25E2105 | Region: Global | Published Date: April, 2024
Pages: 223 | Tables: 87 | Figures: 68

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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).

The Bluetooth speaker market is highly fragmented with a mix of regional as well as international companies vying for market share. Regional Bluetooth speaker providers are being acquired by market leaders to improve their market share and gain a competitive advantage over other market players. Bluetooth speaker companies are also continually investing in improving the connectivity and audio quality of their products to improve their sales potential in the long run. Mergers, collaboration, and partnerships are also key strategies that will allow companies to expand their business reach on a level. Influencer marketing and celebrity endorsements could help Bluetooth speaker companies maximise their sales and improve brand awareness among consumers. 'Sony Group Corporation', 'Beats Electronics', 'Marshall Group AB', 'VOXX International Corporation', 'Bang & Olufsen', 'Fugoo', 'Samsung', 'Apple Inc.', 'HARMAN International', 'Bose Corporation', 'JVCKENWOOD Corporation', 'Logitech'

The high proliferation of smartphones and the internet around the world has popularised the online music streaming trend and this is projected to bolster sales of Bluetooth speakers over the coming years.

Integration of Smart Assistants: Rising popularity of smart technologies and growing adoption of smart home trends have bolstered the demand for speakers with integrated smart assistants such as Alexa and Siri. Companies can focus on integrating more smart technologies and features that expand the usability and application scope of Bluetooth speakers.

An increasing number of online music streamers and rapid adoption of advanced Bluetooth speaker technologies are forecasted to be key factors contributing to the dominant market share of the North American region. High consumer spending potential, frequent product launches, rising adoption of smart home trends, and the presence of a developed retail infrastructure are slated to be key prospects driving Bluetooth speaker sales in this region. The United States and Canada are projected to emerge as the leading markets in the North American region across the forecast period.

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Global Bluetooth Speaker Market

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