Global Bluetooth Speaker Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Bluetooth Speaker Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Bluetooth speaker, an amplifier and loudspeaker with Bluetooth wireless connectivity that is paired with one or more smartphones, tablets, computers or other equipment. The Bluetooth speaker receives digital audio streams from the host device, which are typically compressed. It then decompresses, decodes and amplifies the audio through the built-in speakers. Bluetooth speakers are easy to operate, fast in transmission, and widely used.

Market Overview:

The latest research study on the global Bluetooth Speaker market finds that the global Bluetooth Speaker market reached a value of USD 7653.16 million in 2022. It’s expected that the market will achieve USD 15600.76 million by 2028, exhibiting a CAGR of 12.6% during the forecast period.

COVID-19 Pandemic Creates Significant Growth Opportunities for Smart Bluetooth Speakers Market Players.

The COVID-19 pandemic has boosted the demand for Bluetooth speakers due to the rapid growth of the smart home market. In addition, due to the expansion of wireless technology, end-users around the world have begun to adopt advanced audio technology. This trend has increased significantly in remote work culture, leading to an increase in the adoption of smart Bluetooth speakers. Economic uncertainty and work-from-home situations caused by the COVID-19 pandemic have increased the use of loudspeakers for everyday tasks in a variety of residential applications. Various tasks, including turning on the lights, controlling other smart devices in the home, adjusting the thermostat, setting timers, alarms or reminders, streaming music or podcasts, are further driving the growth of the Bluetooth speaker market.

Drivers

High compatibility of Bluetooth speakers with other consumer electronic devices drives market growth.
The advent of artificial intelligence-based devices for Bluetooth speakers is driving the market growth.
Growing consumer preference for portable devices and development of lithium batteries boosts the growth of the portable Bluetooth speakers market.

Restraints and Challenges

Regular maintenance demand for Bluetooth speakers will restrain market growth.
The prevalence of piracy is a major challenge for the Bluetooth speaker market.

Opportunities

The shift in music formats to digital and high-fidelity systems is driving manufacturers to innovate in design, development and pursuit of sound quality.
With artificial intelligence sweeping all walks of life and the rapid popularization of voice interaction technology, emerging markets such as smart Bluetooth speakers are showing a rapid development trend.

Region Overview:

China had the highest growth rate of all regions.

In 2021, the share of the Bluetooth Speaker market in United States stood at 27.80%.

Company Overview:

Samsung
Samsung Electronics Co., Ltd. is a South Korean multinational electronics company headquartered in Suwon, South Korea. It is the world's second-largest information technology company by revenue, after Apple. Samsung has long been a major manufacturer of electronic components such as lithium-ion batteries, semiconductors, chips, flash memory and hard drive devices for clients such as Apple, Sony, HTC and Nokia. In recent years, the company has diversified into consumer electronics.

Bose Corporation

Bose Corporation is an American privately held corporation, based in Framingham, Massachusetts, that specializes in audio equipment Bose is best known for its home audio systems and speakers, noise-canceling headphones, professional audio systems, and automobile sound systems.

Samsung is one of the major players operating in the Bluetooth Speaker market, holding a share of 6.68% in 2022.

Samsung. Bose Corporation, Sony, Logitech, Anker Innovations are the five key players in the global Bluetooth Speaker market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global market in the past 5 years.

Segmentation Overview:

Portable
Bluetooth speakers are mainly portable speakers, compact in structure, light in weight, and generally small and portable in appearance.

Fixed

Fixed Bluetooth speakers usually do not have batteries, need to be plugged in for use, are difficult to transport. Because of its large volume, its sound quality is generally better than that of a portable Bluetooth speaker, but the price is much more expensive.

By type, Portable segment accounted for the largest share of market in 2021.

Application Overview:

Home Use
With the rapid development of Bluetooth smart phones and computers, more and more Bluetooth speakers are used in the home, providing a better experience for listening to music, playing games, watching movies and other activities. Portable way, wireless transmission, and fashionable appearance are strongly loved by individual consumers.

Commercial

Bluetooth speakers are also usually used for commercial use, such as concerts, music festivals, shops, offices, etc.

By application, the Home Use segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Bluetooth Speaker market covered in Chapter 3:

LG
Philips
Pioneer
Bose Corporation
Edifier
Sony
Logitech
Anker Innovations
Doss
Samsung
Yamaha Corporation

In Chapter 4 and Chapter 14.2, on the basis of types, the Bluetooth Speaker market from 2018 to 2029 is primarily split into:

Fixed
Portable

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Bluetooth Speaker market from 2018 to 2029 covers:

Residential
Commercial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)